Tejas Cargo India Limited — Credit Ratings, 10-09-2025: Credit Rating- New

ICRA has assigned Tejas Cargo India Limited a long-term rating of [ICRA]BBB+(Stable) and a short-term rating of [ICRA]A2 for its Rs. 200 crore bank facilities, including Term Loans, Cash Credit, and Bank Guarantees. The ratings reflect TCIL's strong market presence, healthy financial profile with robust 20% revenue growth to Rs. 503 Cr in FY2025, and comfortable capital structure aided by IPO funds. The outlook is Stable.