Bhagiradha Chemicals & Industries Limited has received an affirmed credit rating from India Ratings and Research (Ind-Ra) for its bank loan facilities. The rating agency maintained the IND BBB+/Stable rating while revising the outlook from Positive to Stable, as disclosed to the stock exchanges on March 10, 2026.

Credit Rating Details

India Ratings affirmed the company's credit rating for bank loan facilities totaling INR 1,730 million. The comprehensive rating assessment covers multiple facility types across various banking partners.

Banking Facility Breakdown

The rated facilities are distributed across multiple leading banks, encompassing various types of credit arrangements:

Regulatory Compliance

The company fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Sharanya M communicated the rating information to both BSE Limited and National Stock Exchange of India Limited. The rating letter from India Ratings has been made available on the company's official website at www.bhagirad.com .

Banking Partnership Portfolio

Bhagiradha Chemicals maintains credit relationships with four major banking institutions. State Bank of India provides both fund-based and non-fund based working capital facilities totaling INR 287.50 million. Axis Bank Limited offers the largest exposure with facilities worth INR 653.40 million, including term loans and working capital arrangements. RBL Bank contributes INR 325.00 million in fund-based working capital, while ICICI Bank provides INR 300.00 million across fund-based and non-fund based facilities. Additionally, the company has proposed bank loan facilities of INR 164.10 million under consideration.

Bhagiradha Chemicals & Industries Limited has announced significant management changes at its wholly owned subsidiary, Bheema Fine Chemicals Private Limited. The board of the subsidiary company approved these changes during a meeting held on February 24, 2026, ensuring a smooth transition in the Chief Financial Officer position.

CFO Retirement Details

The board took on record the retirement of B. Krishna Mohan Rao from his position as Chief Financial Officer and Key Managerial Personnel of Bheema Fine Chemicals Private Limited. His retirement will be effective from the close of business hours on February 28, 2026. The board acknowledged his valuable contributions and guidance provided during his association with the company over the years.

New CFO Appointment

The board simultaneously approved the appointment of Ranjit Kumar Kilaru as the new Chief Financial Officer and Key Managerial Personnel of the wholly owned subsidiary. His appointment will commence from March 01, 2026, ensuring continuity in the financial leadership of the company.

Professional Background of New CFO

Ranjit Kumar Kilaru brings extensive experience to his new role as a Chartered Accountant with over 23 years of post-qualification experience across banking, manufacturing, and financial advisory services. He has been working as a consultant in financial planning and debt syndication for the past four years.

His banking experience spans over 17 years, including a significant association with Axis Bank Limited for over 13 years in various functional roles. At Axis Bank, he served as Deputy Vice President and Centre Head – SME, Hyderabad, where he led both Credit and Relationship Management teams for the Hyderabad and Northern Telangana regions.

Prior to Axis Bank, Kilaru was associated with the Corporate Banking Group of ICICI Bank Limited, Hyderabad. He has also worked with IFB Industries, Ballarpur Industries Limited, and Ramesh & Co. Throughout his career, he has handled funding and financial structuring for clients across diverse industries, including Manufacturing, Food Processing, Infrastructure, Capital Goods, and Engineering & Construction.

Regulatory Compliance

The management changes have been disclosed in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has confirmed that the new CFO is not related to any Director on the Board of Bheema Fine Chemicals Private Limited.

The announcement was communicated to both BSE Limited and National Stock Exchange of India Limited on February 24, 2026, ensuring full transparency and regulatory compliance for all stakeholders.