Zodiac Energy's bank facilities upgraded to 'CARE BBB; Stable' by CARE Ratings
A credit rating upgrade can improve the company's access to capital and reduce borrowing costs.
The credit rating for the company's bank facilities has been upgraded, indicating a positive financial outlook.
* CARE Ratings has upgraded Zodiac Energy Limited's bank loan facilities. * Long-term bank facilities of ₹123.95 crore upgraded to CARE BBB; Stable from CARE BBB-; Stable. * Long-term/Short-term bank facilities of ₹63.55 crore upgraded to CARE BBB; Stable / CARE A3+ from CARE BBB-; Stable / CARE A3. * Short-term bank facilities of ₹1.50 crore upgraded to CARE A3+ from CARE A3. * The upgrade factors in improved scale of operations, moderate profitability, and significant growth in gross cash accruals (GCA). * Zodiac Energy successfully commissioned a 26.56 MW capacity solar power project under the PM-KUSUM scheme. * The project has a long-term revenue visibility with a power purchase agreement (PPA) with Uttar Gujarat Vij Company Limited (UGVCL) for 25 years at ₹ 3.00 per kilowatt hour (kWh). * As on May 31, 2025, the company's order book stood healthy at ₹394 crore, to be executed within the next 6-12 months.
What to do with a filing like this
Zodiac Energy 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 Zodiac Energy Limited. Read the original for the full detail.