ICRA reaffirms Tanfac ratings; total rated amount enhanced to Rs 225 cr
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ICRA reaffirmed Tanfac Industries credit ratings on October 16, 2026, keeping A+ (Stable) for long-term facilities and A1+ for short-term facilities. Total rated amount enhanced from Rs 195 cr to Rs 225 cr, including a new Rs 70 cr term loan. Company is net debt-free with strong liquidity, backed by a Rs 250 cr QIP in June 2026 and a Rs 99.41 cr preferential issue. Setting up a 20,000 MTPA R-32 refrigerant gas plant by Q3 FY2027.
Investment grade ratings reaffirmed with stable outlook and higher credit limits, indicating strong financial health and lender confidence.