HLE Glascoat Limited — Credit Ratings, 17-07-2026: Credit Rating

ICRA has reaffirmed HLE Glascoat's long-term [ICRA]A (Stable) and short-term [ICRA]A2+ ratings for its various bank facilities. The ratings reflect the company's strong market position, strategic acquisitions, and robust revenue growth of 32% to ₹1,353 Cr in FY26. Debt reduced to ₹348 Cr, improving gearing to 0.56x.