Huhtamaki India Limited — Credit Ratings, 15-05-2025: Credit Rating- Revision

Crisil has upgraded Huhtamaki India Limited’s long-term bank loan rating to AA-/Stable from A+/Positive, driven by its strong market position in flexible packaging, a robust financial profile with net worth of Rs 1,126 Cr, and low gearing under 0.1x. The upgrade also reflects continued operational and financial support from parent Huhtamaki Oyj and the parent’s improved credit profile. Despite some margin pressure and a slight dip in operating income in 2024, early 2025 shows margin recovery to 6.3%. This higher rating is likely to reduce borrowing costs and enhance investor confidence, supported by solid liquidity and a stable outlook.