Balu Forge Industries Receives Credit Rating Upgrade from ICRA Limited
Balu Forge Industries Limited received upgraded credit ratings from ICRA Limited for bank facilities worth Rs. 231.00 crore. The ratings include [ICRA]A-(Stable) for long-term facilities and [ICRA]A2+ for short-term facilities, covering term loans, working capital, and non-fund based facilities across Union Bank of India and Axis Bank Limited.
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Balu Forge Industries Limited has announced that ICRA Limited has upgraded the credit ratings for its bank facilities, marking an improvement in the company's borrowing profile. The rating agency communicated the upgraded ratings through a letter dated February 09, 2026.
Credit Rating Details
ICRA Limited has assigned comprehensive credit ratings to the company's bank facilities totaling Rs. 231.00 crore. The ratings represent an upgrade from the company's existing borrowing credit ratings, reflecting improved creditworthiness.
| Instrument | Rated Amount (Rs. crore) | Rating Action |
|---|---|---|
| Long-term Fund-based Term loan | 38.03 | [ICRA]A-(Stable); Assigned |
| Long-term/Short-term Fund-based/Non-fund based Working Capital Facilities | 166.00 | [ICRA]A-(Stable)/[ICRA]A2+; Reaffirmed/Assigned for enhanced amount |
| Long-term/Short-term Unallocated limits | 0.97 | [ICRA]A-(Stable)/[ICRA]A2+; Assigned |
| Short-term Non-fund based Facilities | 26.00 | [ICRA]A2+; Assigned |
| Total | 231.00 |
Banking Relationships
The rated facilities are distributed across two major banking partners. Union Bank of India provides working capital facilities of Rs. 91.00 crore, term loans of Rs. 13.03 crore, and letter of credit facilities of Rs. 25.00 crore. Axis Bank Limited contributes working capital facilities of Rs. 75.00 crore, term loans of Rs. 25.00 crore, and external benchmark rate-based non-fund facilities of Rs. 1.00 crore.
Rating Significance
The [ICRA]A-(Stable) rating indicates adequate degree of safety regarding timely servicing of financial obligations, with stable outlook suggesting that the rating is not likely to change in the near term. The [ICRA]A2+ rating for short-term facilities indicates high degree of safety regarding timely payment of financial obligations.
Regulatory Compliance
The company has disclosed this information in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The rating information has been communicated to both BSE Limited (Scrip Code: 531112) and National Stock Exchange of India Limited (Trading Symbol: BALUFORGE) on February 10, 2026.
ICRA has indicated that the ratings will be subject to surveillance within one year from the rating communication date and reserves the right to review or revise the ratings based on new information or changing circumstances.
Historical Stock Returns for Balu Forge Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.18% | +23.74% | +10.42% | -16.25% | -21.06% | +83.92% |
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