Bhagiradha Chemicals & Industries Limited — Credit Ratings, 11-12-2024: Credit Rating

India Ratings and Research has affirmed the credit rating of Bhagiradha Chemicals and Industries Limited (BCIL) with the rating assigned to various bank facilities. The term loan maturing on January 31, 2028, has been reduced to ₹172.5 crore from ₹248 crore and maintains an IND BBB+/Positive rating. A new term loan maturing on May 31, 2034, has been assigned an IND BBB+/Positive rating for ₹240 crore. Fund-based working capital limits have been reaffirmed and assigned with IND BBB+/Positive/IND A2+ ratings for ₹415 crore and ₹400 crore, respectively, while non-fund-based limits saw a slight decrease in outstanding amounts but have also been reaffirmed. Proposed bank facilities amounting to ₹80 crore have been assigned an IND BBB+/Positive/IND A2+ rating as well.

The Positive outlook reflects expectations of adequate financial health and revenue stability. The affirmations indicate strong operational performance and robust credit quality, which could potentially lead to more favorable borrowing conditions in the future amidst a solid market sentiment.