Mangal Credit & Fincorp: Crisil Affirms BBB/Stable Rating on ₹400 Cr Bank Loans, Assigns BBB/Stable to ₹120 Cr NCDs
Mangal Credit and Fincorp Limited's total bank loan facilities of ₹400 crore have been reaffirmed at BBB Stable by Crisil. ₹120 crore of Non-Convertible Debentures were assigned BBB Stable, and ₹100 crore of NCDs were reaffirmed BBB Stable. The company reported ₹517 crore in assets and ₹15.3 crore in PAT for Mar26.
Credit rating affirmations and assignments are important for a company's borrowing capacity and cost of capital, impacting its financial flexibility and operational capacity.
The reaffirmation and assignment of stable credit ratings by Crisil indicate a positive outlook on the company's financial health and its ability to meet its debt obligations.
Mangal Credit and Fincorp Limited (MCFL) has received an update on its credit ratings from Crisil Limited. Crisil has reaffirmed the rating for Total Bank Loan Facilities Rated at Crisil/BBB with a Stable outlook, amounting to ₹400 crore.
Additionally, Crisil has assigned a Crisil/BBB Stable rating to Non-Convertible Debentures (NCDs) worth ₹120 crore. The rating for another set of Non-Convertible Debentures amounting to ₹100 crore has been reaffirmed at Crisil/BBB Stable.
The company's financial indicators as of March 2026 show total assets of ₹517 crore and total income of ₹70.0 crore, with a profit after tax of ₹15.3 crore. The 90+ days past due (dpd) remains stable at 1.3%, while gearing has increased to 1.9 times. The outlook for MCFL is Stable, with Crisil believing the company will maintain comfortable capitalization and access funds at competitive costs. The company's AUM stood at ₹423.1 crore as of March 31, 2026, marking a 46% growth in fiscal 2026. Operations are concentrated in Maharashtra (89%), Rajasthan, and Gujarat. Liquidity is adequate, with ₹12.1 crore available as of May 31, 2026.
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Mangal Credit and Fincorp Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. 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 Mangal Credit and Fincorp Limited. Read the original for the full detail.