Kellton Tech Solutions Limited has informed the Exchange about Credit Rating
KELLTONTEC · price
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ICRA has upgraded Kellton Tech Solutions' credit rating to [ICRA] A- (Stable) from the earlier [IND] BBB+, reflecting a stronger credit profile. The upgrade covers bank facilities of Rs. 250 crore in total, including long-term fund-based limits of Rs. 168 crore. The company reported revenue of Rs. 903.1 crore in 9M FY2026, a 9.7% year-on-year growth, with operating margins improving to 12.2%. ICRA cited healthy growth, prudent financial management, low leverage (gearing of 0.2x), and a diversified client base including marquee names like LIC, Oil India, TATA Group, and Mahindra Group as key strengths. Concerns remain around high US revenue concentration (82%), elongated receivables cycles, and intense competition in the global IT services market.
This upgrade from BBB+ to A- signals improved financial health and lower default risk, which can help Kellton Tech raise debt at better interest rates and boost investor confidence. It is a positive development for shareholders, though the high US dependence and working capital intensity remain areas to monitor.