ICRA Limited has reaffirmed the credit ratings for Page Industries’ bank facilities. The long-term fund-based facilities, including cash credit and term loans, maintain a rating of [ICRA]AA+(Stable). The short-term non-fund-based facilities continue to be rated [ICRA]A1+. These ratings reflect ICRA’s assessment of Page Industries’ creditworthiness and stability.
ICRA Credit Ratings Reaffirmed
Page Industries has received notification from ICRA Limited regarding the reaffirmation of its credit ratings for various bank facilities. The announcement, dated October 16, 2025, confirms the stability of the company’s financial standing as evaluated by ICRA.
Long-Term Fund-Based Facilities
The credit rating for the long-term fund-based facilities, which include both cash credit and term loans, has been reaffirmed at [ICRA]AA+(Stable). This rating applies to a total amount of ₹232.00 crore for cash credit and ₹40.00 crore for term loans. The reaffirmation of this rating indicates ICRA’s confidence in Page Industries’ ability to meet its long-term financial obligations.
Short-Term Non-Fund-Based Facilities
ICRA has also reaffirmed the [ICRA]A1+ rating for Page Industries’ short-term non-fund-based facilities. This rating pertains to a total amount of ₹78.00 crore. The [ICRA]A1+ rating signifies ICRA’s assessment of the company’s strong capacity for timely repayment of short-term debt obligations.
Detailed Breakdown of Rated Bank Limits
A detailed breakdown of the bank limits rated by ICRA is provided below:
Long-Term (Cash Credit):
* Canara Bank: ₹2.00 crore [ICRA]AA+(Stable)* HDFC Bank Limited: ₹100.00 crore [ICRA]AA+(Stable)* HSBC Limited: ₹100.00 crore [ICRA]AA+(Stable)* ICICI Bank Limited: ₹30.00 crore [ICRA]AA+(Stable)
Short-Term (Non-Fund Based):
* Canara Bank: ₹3.00 crore [ICRA]A1+* HDFC Bank Limited: ₹75.00 crore [ICRA]A1+
Long-Term (Term Loans):
* HDFC Bank Limited: ₹40.00 crore [ICRA]AA+(Stable)
Source: BSE
