Satia Industries Limited — Credit Ratings, 09-08-2025: Credit Rating- New

India Ratings has affirmed Satia Industries' existing bank facilities at 'IND A+/Stable/IND A1+' and proposed commercial paper at 'IND A1+', while assigning 'IND A+/Stable' to new bank facilities of INR 43 Cr. This stable assessment reflects Satia's strong business fundamentals, integrated operations, and robust market position in the textbook segment. Despite an anticipated temporary dip in EBITDA in FY26 due to soft paper prices and a planned machine upgrade, the company's financial health remains strong, with net debt at just INR 144.2 Cr in FY25. Post-capex, improved volumes and efficiencies are expected from 2HFY27. This stable rating supports investor confidence and provides financial flexibility for strategic investments.