ABS Marine Services Limited — Credit Ratings, 06-08-2025: Credit Rating

CRISIL Ratings has reaffirmed ABS Marine Services' long-term rating at 'Crisil BBB+/Stable', while significantly increasing the rated bank loan facilities to Rs. 335 Cr from Rs. 25 Cr. This reflects the company's improved operational and financial performance, with revenue growing to Rs. 179 Cr in FY25, supported by higher charter rates and stable long-term contracts with clients like ONGC. Despite moderating margins due to IPO expenses, ABS's financial health remains strong, with net worth at Rs. 240 Cr. The rating anticipates a healthy financial profile even after Rs. 245 Cr debt-funded capex for two new vessels. This reaffirmation, coupled with enhanced debt capacity, signals lender confidence and provides strategic room for growth.