Bhagyanagar India512296New rating assigned
ICRA assigns [ICRA]A- with Rating Watch (Developing) on Rs. 654 crore bank facilities of subsidiary Bhagyanagar Copper
Rs. 654 CroreTotal rated amount
Long-term fund-based – Others595.00 (Rs. crore)
Long-term fund-based – Term loan59.00 (Rs. crore)
- Rating Assigned
- [ICRA]A- with Rating Watch Developing Implications
- Facility Size
- Rs. 654 crore long-term fund-based bank facilities
- VAP Share
- ~60%
- OPBDITA FY2026
- Rs. 105 crore
- Demerger Timeline
- expected by Oct 2026
ICRA assigns [ICRA]A- with Rating Watch (Developing) on Rs. 654 crore bank facilities of subsidiary Bhagyanagar Copper.
[ICRA]A-Assigned · ICRA Limited
Rating assigned on
Rating letter date
Rating rationale date
Also from Bhagyanagar India
CFO Surendra Bhutoria to cease as Chief Financial Officer with effect from October 7, 2026
7 Oct 2026
Record Date Fixed at 8 October 2026 for Allotment of Tieramet Shares Under Demerger Scheme
25 Sep 2026
Record Date Fixed for 1:1 Share Allotment in Resulting Company Under Demerger Scheme
25 Sep 2026
More numbers
- Total rated amountRs. 654 Crore
- Long-term fund-based – Others595.00 (Rs. crore)
- Long-term fund-based – Term loan59.00 (Rs. crore)
- Operating income FY20262,372 (Rs. crore)
- PAT FY202648.0 (Rs. crore)
- Interest coverage FY2026 (times)3.0
- OPBDITA FY2026Rs. 105 crore
- Bank limit utilisation average74%
Source: BSE · 29 Sep 2026
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