Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, we wish to inform you that the CARE Rating Limited (CARE Edge) has assigned the Credit Rating on Bank Facilities of the Company.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CARE Ratings (CARE Edge) has reaffirmed the credit rating on Narmada Gelatines' bank facilities. The long-term bank facilities of Rs. 31.35 crore (enhanced from Rs. 16.40 crore) carry a rating of CARE BBB; Stable, while the combined long-term/short-term bank facilities of Rs. 20 crore (reduced from Rs. 21.60 crore) are rated CARE BBB; Stable / CARE A3+. The reaffirmation reflects the company's 50+ year track record in gelatine manufacturing, strong customer base, and improved profitability, with PBILDT margin rising to 18.26% in 9MFY26 from 12.96% in FY25. The company is largely debt-free with low gearing of 0.11x and comfortable liquidity, though ratings are constrained by moderate scale of operations and raw material price volatility. A Rs. 33 crore capex is planned over two years, partly funded by an enhanced term loan.
The rating reaffirmation with Stable outlook signals continued creditworthiness and is neutral to mildly positive for shareholders. The enhancement of the term loan from Rs. 16.40 crore to Rs. 31.35 crore indicates fresh credit availability to fund the planned capacity expansion, which could support future revenue growth from January 2027 onwards.