ISGEC Heavy Engineering Limited announced that ICRA Limited has reaffirmed the credit rating for a Rs. 20 Crore line of credit held by its non-material subsidiary and joint venture, Isgec Redecam Enviro Solutions Private Limited. The existing rating of [ICRA]BBB (Stable) was maintained following the review conducted on February 25, 2026. This re-affirmation pertains to the Non-Fund Based Working Capital Facilities, ensuring continuity in the financial standing of the subsidiary.
Credit Rating Confirmation for Subsidiary Financing
ISGEC Heavy Engineering Limited has officially disclosed an update regarding the credit rating assessment performed on a financing facility associated with one of its key entities. ICRA Limited undertook a review for the Rs. 20 Crore line of credit designated for Isgec Redecam Enviro Solutions Private Limited, which operates as a non-material subsidiary and joint venture of the parent company.
Comparative Rating Analysis
The review resulted in the reaffirmation of the previous rating assessment. The comparative table provided clearly illustrates that the rating status remains unchanged:
- Instrument: Non-Fund based (NFB) Working Capital Facilities (BG/LC/SBLC).
- Amount: Rs. 20.0 Crores.
- Rating Date (Previous): 17.01.2025.
- Rating Date (Current): 25.02.2026.
- Rating Assigned: [ICRA]BBB (Stable) in both instances.
The formal confirmation of the rating, vide ICRA’s letter dated February 25, 2026, signifies stability in the credit profile supporting the subsidiary’s operational facilities. The company confirmed that this disclosure is also available on its corporate website.
Source: BSE
