Jubilant Pharmova Limited — Credit Ratings, 06-05-2025: Credit Rating

India Ratings and Research has reaffirmed Jubilant Pharmova Limited’s long-term issuer rating at ‘IND AA+’ with a stable outlook, reflecting solid financial performance in FY24-9MFY25. The affirmation is driven by improved cash flows and financial health, supported by strong momentum in its CDMO Sterile Injectables and Generics segments. Fund-based working capital limits of Rs 150 Cr and term loans of Rs 200 Cr retain their ratings, while non-fund-based limits and commercial paper programs maintain ‘IND A1+’ status. This stable credit profile is expected to help sustain favorable borrowing costs and maintain investor confidence.