Zodiac Energy Limited has informed the Exchange about Credit Rating- Revision
ZODIAC · price
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CARE Ratings has upgraded Zodiac Energy's bank facility ratings across the board. Long-term facilities of Rs. 123.95 crore moved from CARE BBB-; Stable to CARE BBB; Stable, long-term/short-term facilities of Rs. 63.55 crore were upgraded from CARE BBB-;Stable/CARE A3 to CARE BBB;Stable/CARE A3+, and short-term facilities of Rs. 1.5 crore moved from CARE A3 to CARE A3+. The upgrade reflects strong revenue growth (TOI jumped 85% YoY to Rs. 407.78 crore in FY25), improved profitability (PBILDT margin of 9.08%), successful commissioning of a 26.56 MW solar IPP project with a 25-year PPA with UGVCL, and a healthy order book of Rs. 394 crore. Net worth nearly doubled to Rs. 96.53 crore after a Rs. 30 crore QIP in FY25. Outlook remains Stable.
This is a positive signal for shareholders and lenders. The rating upgrade from BBB- to BBB lowers borrowing costs and improves creditworthiness, while the strong growth metrics and long-term PPA-backed IPP revenue suggest continued financial strength in the medium term.