Pennar Industries Limited has informed the Exchange about Credit Rating
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CARE Ratings has reaffirmed Pennar Industries' credit ratings on its bank facilities. Long-term bank facilities of ₹712.46 crore retain the CARE A; Stable rating, while short-term bank facilities of ₹1,012.50 crore retain the CARE A1 rating. Total rated facilities stand at ₹1,724.96 crore. The reaffirmation is supported by steady revenue growth (TOI at ₹3,230 crore in FY25, up from ₹1,525 crore in FY21, a 20% CAGR), improving margins (PBILDT margin up 94 bps to 9.73%), and better debt metrics (overall gearing improved to 1.24x from 1.32x). The outlook remains Stable, reflecting CARE's expectation that Pennar will maintain its market position and continue improving operating performance.
This is a neutral-to-positive development for shareholders. The reaffirmation of investment-grade ratings (CARE A and CARE A1) signals continued lender confidence and stable access to credit at reasonable costs. No immediate impact on stock price is expected, but it removes any near-term rating risk overhang.