JKB Financial Services Ltd.

As on : 09-Oct-2026

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09-Oct-2026 11:46

Mafatlal Industries receives credit rating upgrades from CARE Ratings, citing healthy liquidity

Mafatlal Industries Ltd announced credit rating upgrades and reductions from CARE Ratings Limited, impacting several instruments. Specifically, CARE Ratings upgraded Long Term / Short Term Bank Facilities, amounting to Rs 199.08, from CARE BBB+; Stable / CARE A2 to CARE A-; Stable / CARE A2+, while reducing the amount from Rs 210.00; Long Term Bank Facilities of Rs 129.92 were also upgraded from CARE BBB+; Stable to CARE A-; Stable, with an enhancement from Rs 70.30; and Short Term Bank Facilities of Rs 91.00 were upgraded from CARE A2 to CARE A2+, with a reduction from Rs 96.00. CARE Ratings also noted that the outlook reflects expectations of healthy liquidity and debt coverage metrics, and referenced Corporate Bonds and Debentures, Commercial Papers, and Structured Credit as instruments rated by the agency, while CareEdge Ratings expects Mafatlal Industries Ltd to maintain healthy business momentum and highlighted unencumbered shares in NOCIL Limited valued at Rs 342 crore, providing enhanced financial flexibility, though a significantly declining value in the NOCIL Limited investment may lead to negative rating action.

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