Balu Forge Industries announced that ICRA Limited has upgraded the credit ratings for the company’s bank borrowing facilities. Key long-term facilities, including term loans and working capital limits, have seen upgrades or reaffirmations at improved levels. The highest rating assigned is [ICRA]A-(Stable), signifying an overall improvement in the company’s existing credit profile and better access to financing for operational requirements.
Credit Rating Enhancement Announced
Balu Forge Industries has disclosed a significant upgrade in its credit ratings as assessed by ICRA Limited, based on a letter dated February 09, 2026. This development reflects a positive improvement in the company’s existing borrowing credit ratings.
Breakdown of Upgraded Ratings
The ratings cover various bank facilities across long-term, short-term, fund-based, and non-fund-based limits. The details of the assigned ratings are as follows:
- Long-term Fund-based Term loan (₹38.03 crore): Assigned a rating of [ICRA]A-(Stable).
- Long-term/Short-term Fund-based/Non-fund based Working Capital Facilities (₹166.00 crore): Reaffirmed/Assigned at [ICRA]A-(Stable)/[ICRA]A2+ for the enhanced amount.
- Unallocated Limits (₹0.97 crore): Assigned [ICRA]A-(Stable)/[ICRA]A2+.
- Short-term Non-fund based Facilities (₹26.00 crore): Assigned [[ICRA]A2+.
Total Sanctioned Limits Summary
The total aggregate facilities covered under these ratings amount to ₹231.00 crore, reflecting robust underlying financial health.
Detailed Facility Breakdown (As per ICRA Letter)
Working Capital Facilities (Long-Term/Short-Term Scale): ₹166.97 crore
| Lender | Amount (₹ crore) | Rating |
|---|---|---|
| Union Bank of India | 91.00 | [ICRA]A-(Stable)/[ICRA]A2+ |
| Axis Bank Limited | 75.00 | [ICRA]A-(Stable)/[ICRA]A2+ |
| Unallocated Limits | 0.97 | [ICRA]A-(Stable)/[ICRA]A2+ |
Term Loans (Long-Term Scale): ₹38.03 crore
| Lender | Amount (₹ crore) | Rating |
|---|---|---|
| Union Bank of India | 13.03 | [ICRA]A-(Stable) |
| Axis Bank Limited | 25.00 | [ICRA]A-(Stable) |
Non-Fund Based Facilities (Short-Term Scale): ₹26.00 crore
| Facility Type | Amount (₹ crore) | Rating |
|---|---|---|
| Union Bank of India (Letter of Credit) | 25.00 | [ICRA]A2+ |
| Axis Bank Limited (External Benchmark Rate) | 1.00 | [ICRA]A2+ |
The company confirms that this information is being uploaded on its official website, www.baluindustries.com, following the formal intimation dated February 10, 2026.
Source: BSE
