Jubilant Pharmova Limited — Credit Ratings, 10-12-2024: Credit Rating

India Ratings and Research has affirmed the long-term issuer rating of ‘IND AA+’ for Jubilant Pharmova Limited, revising the outlook to ‘Stable’ from ‘Negative’. This outlook change reflects a strong improvement in the company’s financial performance and credit metrics in the first half of FY25, driven primarily by enhancements in the CDMO Sterile Injectibles and Generics businesses.

The rating affirmation also covers various instruments, including fund-based working capital limits of ₹150 crore rated IND AA+/Stable and IND A1+, and term loans of ₹200 crore, also rated IND AA+/Stable.

This positive rating action is likely to result in lower borrowing costs and bolster investor sentiment, positioning Jubilant Pharmova for potential strategic expansions or investments in further innovation. The company’s focus on operational improvements and financial management is indicative of a solid strategic position moving forward.