Announcement under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015 - Credit Rating Agency has assigned the Credit Rating of the Company.
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CARE Ratings Limited has assigned its initial credit rating to Solarium Green Energy Limited, covering bank facilities worth ₹97 crore in total. This includes ₹50 crore in long-term bank facilities rated CARE BBB-; Stable and ₹47 crore in long-term/short-term bank facilities rated CARE BBB-; Stable / CARE A3. CARE BBB- is an investment-grade rating, and the stable outlook reflects confidence in the company's experienced promoters, growing scale (revenue rose 89% YoY to ₹230.43 crore in FY25), and improving leverage (overall gearing improved from 1.55x to 0.48x). Key concerns flagged include a moderate order book of ₹147 crore, high working capital intensity with 337 GCA days, and execution risk on its upcoming 1000 MW solar module manufacturing plant expected by January 2026.
This is a first-time credit rating assignment, giving the company a formal investment-grade stamp (BBB-) that can support borrowing costs and lender confidence. The stable outlook signals no near-term credit concerns, though the high working capital intensity and execution risk on the solar module capex are watchpoints for future rating actions.