Disclosure regarding Credit Rating. kindly refer attached press release for further details.
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Awaiting price reaction for this filing.
CARE Ratings has assigned a credit rating of CARE BBB- with a Stable outlook to Sugs Lloyd's long-term bank facilities of ₹60 crore, and CARE BBB-/A3 for its long-term/short-term bank facilities of ₹65 crore, taking total rated facilities to ₹125 crore. This is a fresh rating assignment, coming shortly after the company's September 2025 IPO which raised ₹85.65 crore and significantly strengthened its net worth. CARE cited strong revenue growth (TOI jumped 171% YoY to ₹176 crore in FY25), a healthy orderbook of ₹471 crore (~2.67x of FY25 sales), and reputed clients including NTPC and NHAI as key positives. Offsetting concerns include working-capital intensive operations (cycle of 112 days), tender-based government business, and a previously elevated gearing of 2.05x in FY25.
The investment-grade BBB- rating with Stable outlook is a positive development that should support Sugs Lloyd's access to bank funding and borrowing costs post-listing. However, BBB- is the lowest investment grade, leaving little cushion if growth or working capital management weakens, and the stock may see limited direct impact since the rating is largely a formalization of an already-improved post-IPO financial profile.