Dhanuka Agritech Limited has announced that CARE Ratings Limited has reaffirmed its credit ratings for the company’s bank facilities. The long-term bank facilities have been assigned a rating of ‘CARE AA; Stable’, while the short-term bank facilities have been rated ‘CARE A1+’. This reaffirms the financial institution’s confidence in Dhanuka Agritech’s operational and financial performance. A detailed press release from CARE Ratings outlining the reaffirmed ratings has been provided.
Credit Ratings Reaffirmed by CARE Ratings
Dhanuka Agritech Limited has received a significant endorsement of its financial health as CARE Ratings Limited has reaffirmed the credit ratings for its bank facilities. This announcement follows a comprehensive review of the company’s operational and financial performance for the fiscal year FY26 (audited) and the first quarter of FY27 (unaudited).
Key Rating Details
The reaffirmed ratings indicate continued confidence from the rating agency in Dhanuka Agritech’s ability to meet its financial obligations. Specifically:
- Long-term bank facilities have been assigned a rating of ‘CARE AA; Stable’. This rating signifies a very low risk relating to the timely payment of financial obligations. The ‘Stable’ outlook suggests that the rating is unlikely to change in the medium term.
- Short-term bank facilities have been rated ‘CARE A1+’. This is the highest short-term rating, indicating a very strong capacity to meet financial obligations.
Financial Facility Breakdown
The rating report details the specific bank facilities covered, including:
- Long Term Fund Based Facilities totaling Rs. 30.00 crore, with a portion of Rs. 15.00 crore each from HSBC Ltd. and HDFC Bank Ltd.
- Long Term / Short Term Non-Fund Based Facilities amounting to Rs. 33.00 crore, comprising Rs. 18.00 crore from HSBC Ltd. and Rs. 15.00 crore from HDFC Bank Ltd. These facilities are typically for instruments like Letters of Credit (LC) and Bank Guarantees (BG).
The total rated facilities amount to Rs. 63.00 crore.
Company and Rating Agency Information
Dhanuka Agritech Limited, headquartered in Gurugram, Haryana, is a prominent player in the agrochemical sector. CARE Ratings Limited, a leading credit rating agency, provides its assessments based on thorough analysis and adherence to regulatory standards. The company’s shares are listed on both the National Stock Exchange (NSE) under the symbol DHANUKA and the Bombay Stock Exchange (BSE) under Scrip Code 507717.
Source: BSE
