Kirloskar Industries Limited has informed the Exchange regarding 'update of material subsidiary'.
KIRLOSIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kirloskar Industries informed the exchanges that its listed material subsidiary, Kirloskar Ferrous Industries Limited (KFIL), received a rating rationale from ICRA dated December 30, 2025. ICRA reaffirmed KFIL's long-term rating at AA with a Stable outlook and its short-term rating at A1+. The total debt instruments rated amount to Rs. 4,828.51 crore, covering term loans (Rs. 947 crore), fund-based limits (Rs. 1,136.51 crore), non-fund-based limits (Rs. 2,195 crore) and commercial paper (Rs. 550 crore). KFIL reported FY2025 operating income of Rs. 6,564.8 crore and PAT of Rs. 294 crore, with comfortable credit metrics including gearing of 0.4x and interest cover of 5.3x. ICRA noted adequate liquidity but flagged sizeable capex plans of Rs. 400-500 crore per annum over the next three years towards an alloy steel plant, debottlenecking and renewable energy projects.
This is a neutral-to-mildly-positive signal for Kirloskar Industries shareholders. The rating reaffirmation at AA/Stable confirms KFIL's continued financial strength and creditworthiness, with no negative rating action. However, the large upcoming capex commitments may introduce some execution and cyclicality risks that investors should monitor.