CARE Ratings Limited has reaffirmed the existing ratings of Bank facilities availed by the Company. The same is enclosed.
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Awaiting price reaction for this filing.
CARE Ratings has reaffirmed the existing ratings on POCL Enterprises' bank facilities: CARE BBB+; Stable on long-term facilities of ₹117.27 crore (enhanced from ₹110.88 crore) and CARE BBB+; Stable / CARE A2 on long-term/short-term facilities of ₹51 crore (enhanced from ₹31 crore). The reaffirmation is supported by 29% YoY revenue growth in FY25 to ₹1,450 crore, higher profit of ₹31.16 crore (vs ₹17.77 crore), and improved gearing of 1.13x from 1.54x after a ₹69.67 crore capital raise via preferential issue in June 2025. Rating constraints remain thin margins, customer concentration (top 5 = 66% of domestic revenue), raw material price volatility, and exposure to loss-making PGPL which the company is acquiring.
No rating action taken — credit profile viewed as stable. Positive signs are revenue growth, higher profits, and stronger balance sheet; however, risks around margins, client dependence, and the PGPL acquisition turnaround remain key things shareholders should watch.