Credit rating clarification: CARE is sole agency, CRISIL not engaged
KUSUMGAR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Kusumgar clarified to exchanges that CARE Ratings is its only valid rating agency and that CRISIL was never engaged or given any data. The attached CARE Ratings note reaffirms long-term rating at CARE A (Stable) for Rs 18.05 crore term loan and CARE A (Stable) plus CARE A1 for Rs 23.50 crore bank facilities, with stable outlook. CARE noted revenue grew 65 percent to Rs 781.89 crore in FY25, the company raised Rs 127 crore fresh equity in 9MFY26, and liquidity is adequate.
No rating change. Ratings reaffirmed as stable, which is neutral for shareholders and supports the company's borrowing profile.