ICRA reaffirms ratings, bank facilities enhanced to Rs 511 cr
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ICRA has reaffirmed credit ratings of [ICRA]A- (Stable) for long-term and [ICRA]A2+ for short-term on the company working capital bank facilities, along with assignment of rating for an enhanced amount. Total rated amount is Rs 511 crore spread across six lenders: Axis Bank (Rs 75 cr), Federal Bank (Rs 68 cr), HDFC Bank (Rs 150 cr), ICICI Bank (Rs 80 cr), Kotak Mahindra Bank (Rs 20 cr), and Yes Bank (Rs 118 cr). These are investment-grade ratings indicating adequate ability to meet financial commitments. The Stable outlook suggests steady near-term expectations.
Stable rating and higher working capital limit support business growth and strengthen borrowing capacity.