Natco Pharma Limited — Credit Ratings, 29-11-2025: Credit Rating

ICRA Limited reaffirmed Natco Pharma's credit ratings at [ICRA]AA (Stable) for long-term instruments and [ICRA]A1+ for short-term. The stable outlook reflects strong financials, robust debt metrics, and healthy liquidity (₹3,200 Cr cash as of Sep 30, 2025). This is backed by strong R&D capabilities and a solid complex generics portfolio, supporting its market position.