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India Ratings revises Indo Borax & Chemicals' bank loan facilities under watch with negative implications

31-Aug-26 20:41 Hrs IST

Indo Borax & Chemicals Ltd announced financial results for 1Q FY27, reporting revenue of 703.56, EBITDA of 198.05, and an EBITDA margin of 28.15%, alongside a gross interest coverage of 405, while India Ratings has revised the rating on its Bank Loan Facilities to IND BBB+/Stable/IND A2+ under a Rating Watch with Negative Implications, and also assigned an initial rating of BBB+ to its Bank Loan of IDR 100 Crore, classifying it as Senior Secured Debt; furthermore, India Ratings and Research Private Limited reaffirmed its Issuer Rating of IND BBB+ and Short-Term Rating of IND A2+, and noted no rating actions were taken on another instrument of INR 100 crore, although limited information was available regarding net leverage, which was reported as NM for both FY26 and FY25.

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