CORONA Remedies: CARE Ratings Reaffirms A+ Stable for ₹7 Cr LT Bank Facilities, Upgrades ₹70 Cr LT/ST Facilities
CORONA Remedies Limited's ₹7 crore Long Term Bank Facilities rating reaffirmed as CARE A+; Stable. ₹70 crore Long Term/Short Term Facilities upgraded to CARE A+; Stable / CARE A1+. Ratings based on FY26 audited and Q1FY27 unaudited performance. Total rated facilities ₹77 crore.
Improved credit ratings can lead to better borrowing terms, increased investor confidence, and potentially lower cost of capital, which has a medium-term impact on the company's financial operations and growth prospects.
The upgrade in ratings for a significant portion of the company's bank facilities and the reaffirmation of ratings for another portion indicate a positive assessment of the company's financial health and creditworthiness by the rating agency.
CORONA Remedies Limited has received an update on its credit ratings from CARE Rating Limited (CARE). The agency has reaffirmed the rating of CARE A+; Stable for the company's Long Term Bank Facilities amounting to ₹7.00 crore. This rating was reduced from ₹25.00 crore.
Furthermore, CARE has upgraded the ratings for Long-Term/Short-Term Bank Facilities totaling ₹70.00 crore. These facilities now carry a rating of CARE A+; Stable / CARE A1+, an upgrade from the previous rating of CARE A+; Stable / CARE A1. The rating action is based on the company's operational and financial performance for FY26 (Audited) and Q1FY27 (Unaudited). The company has also made this information available on its website, www.coronaremedies.com.
The total rated facilities amount to ₹77.00 crore, comprising ₹7.00 crore in Long Term Facilities and ₹70.00 crore in Long Term / Short Term Facilities. The Long Term Facilities include a term loan of ₹7.00 crore from Citi Bank, to be repaid in 60 equal monthly installments starting from July 2023. The Long Term / Short Term Facilities include limits from ICICI Bank Ltd. (₹50.00 crore) and Citi Bank (₹20.00 crore) for various purposes including working capital, letters of credit, bank guarantees, and cash credit.
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CORONA Remedies Limited filed this with the NSE as a statutory disclosure, categorised under credit ratings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by CORONA Remedies Limited. Read the original for the full detail.