Suyog Gurbaxani Funicular Ropeways Ltd — Important, 09-04-2026: Company Update

Suyog Gurbaxani Funicular Ropeways (SGFRL) recently got new credit ratings from CARE Ratings, replacing CRISIL. CARE assigned 'CARE BBB-; Stable' for ₹78 Cr Long Term Bank Facilities and 'CARE BBB-; Stable / CARE A3' for ₹2 Cr Long Term/Short Term Facilities. These ratings highlight SGFRL's experienced promoters, strong operational track record from its pilgrimage ropeway, and healthy operating margins. However, concerns include a modest operational scale, stretched working capital from ₹84 Cr in unbilled receivables tied to the Haji Malang project, and moderate debt coverage. The 'Stable' outlook indicates expected continued benefits from established operations.