Pashupati Cotspin Limited has informed the Exchange about Credit Rating
PASHUPATI · price
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Pashupati Cotspin Limited's credit ratings have been upgraded by Infomerics Valuation and Rating Limited. The long-term bank facility rating moved up from IVR BB+/Stable to IVR BBB-/Stable, while short-term facilities improved from IVR A4+ to IVR A3, covering a total of Rs. 125.92 crore in bank loans. The upgrade reflects the company's strong business risk profile, experienced management led by promoter Mr. Saurin Parikh, and a significantly improved financial position — net worth nearly doubled to Rs. 119.93 crore and total debt fell sharply to Rs. 99.40 crore from Rs. 150.59 crore, bringing gearing down to 0.85x from 2.56x. However, FY25 revenue dipped 2.14% to Rs. 646.96 crore due to weak cotton yarn demand, and the company operates in a highly competitive, cyclical textile industry. Note: Brickwork had earlier placed the company in its 'Issuer Not Cooperating' category in February 2025.
The rating upgrade is a positive signal for shareholders, reflecting stronger financial health and lower credit risk, which could help the company secure borrowing at better rates in the future. The stable outlook suggests management's financial discipline is expected to continue, likely boosting investor confidence in the stock.