Intimation under Regulation 30 of SEBI(LODR) Regulations, 2015, regarding the credit rating for all the bank facilities availed by the company is enclosed.
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Awaiting price reaction for this filing.
POCL Enterprises has clarified to BSE that credit ratings issued by Brickwork Ratings (BWR) should be disregarded, as the company has been rated exclusively by CARE Ratings since 2023 after BWR's SEBI license suspension. CARE Ratings has assigned POEL a long-term rating of CARE BBB+; Stable and short-term rating of CARE A2 for its bank facilities totaling around ₹141.88 crore. Two facilities — the ₹94.60 crore cash credit (enhanced from ₹84.60 crore) and the ₹6.00 crore BG/LC facility — were upgraded from CARE BBB; Stable / CARE A3+. The upgrade reflects POEL's strong revenue growth from ₹498 crore in FY22 to ₹1,120 crore in FY24, improved PBILDT margins from 2.44% to 4.28% in H1FY25, and better leverage metrics. POEL is a non-ferrous metal recycler (mainly lead) supplying battery manufacturers, with factories in Tamil Nadu and Pondicherry.
Positive for shareholders — the rating upgrade from BBB to BBB+ indicates improving financial health and may help POEL secure better borrowing terms. With a stable outlook, the upgrade signals sustained operational performance, though thin margins, client concentration (top 10 customers at 69% of revenue), and regulatory risks from environmental norms remain areas to watch.