Orchid Pharma Limited has received a credit rating review from CARE Ratings Limited. The assessment, finalized on April 1, 2026, follows an evaluation of the company’s recent operational and financial performance for FY25 and 9MFY26. The agency has downgraded certain long-term ratings while reaffirming short-term facilities and removing all instruments from the previous ‘Rating Watch with Developing Implications’ status.
Rating Adjustments Overview
Following a comprehensive review, CARE Ratings Limited has adjusted the credit ratings assigned to Orchid Pharma Limited. The long-term bank facilities, totaling ₹207.50 crore, have been downgraded to CARE BBB+; Stable from the previous CARE A- rating. Additionally, the company’s long-term and short-term facilities, worth ₹75.00 crore, have also been downgraded to CARE BBB+; Stable for the long-term component, while the short-term component has been reaffirmed at CARE A2.
Rating Actions and Outlook
The rating agency has removed all bank facilities from the ‘Rating Watch with Developing Implications’ status and assigned a Stable outlook. The short-term bank facilities, amounting to ₹84.00 crore, were reaffirmed at CARE A2. These updates follow recent corporate developments, including the company’s performance in FY25 and the first nine months of FY26, the progress of an amalgamation scheme before the NCLT, and the successful completion of an asset acquisition related to a proprietary molecule.
Breakdown of Rated Facilities
The total rated bank facilities for the company currently stand at ₹366.50 crore. The debt structure includes ₹142.50 crore in term loans from HDFC Bank with a 6-year tenor, ₹65.00 crore in cash credit, and ₹84.00 crore in non-fund based facilities. Additionally, a ₹75.00 crore facility is maintained with Yes Bank, covering various instruments including CC, PCFC, WCDL, LC, BG, and LCBD.
Source: BSE
