ZODIAC : CARE REAFFIRMS CARE BBB; STABLE / CARE A3+ RATINGS

Long term/short term bank facilities enhanced to ₹71.55 Cr from ₹63.55 Cr; long term facilities reduced to ₹115.95 Cr from ₹121.95 Cr. Ratings backed by FY26 revenue up ~38% YOY to ₹543.52 Cr and PBILDT margin at 10.28%, up 120 bps. Order book moderated to ₹208.32 Cr as on September 9, 2026, from ₹394 Cr as on May 31, 2025. Overall gearing at 1.86x and GCA days at ~225 days as on March 31, 2026; outlook stable. Impact: Neutral (rating reaffirmed with stable outlook, but moderate order book and working capital intensity cap re-rating)

Zodiac Energy Ltd

Open attachment

← Back to feed