Bafna Pharmaceuticals Limited — Credit Ratings, 23-01-2026: Credit Rating- Revision

ICRA reaffirmed Bafna Pharmaceuticals' long-term rating at [ICRA] BB+ and short-term rating at [ICRA] A4+. The outlook for the long-term rating was revised from Stable to Positive. These ratings apply to total bank loan facilities of Rs. 50.00 Cr (long-term) and Rs. 5.00 Cr (short-term).