Bhagyanagar India Limited has notified stock exchanges regarding the credit rating reaffirmation for its wholly owned subsidiary, Bhagyanagar Copper Private Limited. The company communicated this development to both NSE and BSE under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Credit Rating Details

CRISIL Ratings has reaffirmed the credit ratings on bank facilities of Bhagyanagar Copper Private Limited, maintaining stability while significantly enhancing the facility amount. The rating action reflects the subsidiary's improved financial capacity and creditworthiness.

Regulatory Compliance and Documentation

The parent company has fulfilled its disclosure obligations by informing both major stock exchanges about this rating development. Managing Director Devendra Surana signed the official communication dated March 6th, 2026, ensuring compliance with listing regulations.

The rating letter from CRISIL has been attached as an annexure to the stock exchange filing. Additionally, the company has made the complete report available on its official website at www.bhagyanagarindia.com for stakeholder access.

Enhanced Financial Capacity

The substantial increase in rated bank facilities from Rs.280 crore to Rs.435 crore represents a significant enhancement of 55.36% in the subsidiary's borrowing capacity. This expansion, combined with the stable rating outlook, indicates CRISIL's confidence in Bhagyanagar Copper Private Limited's financial management and business prospects.

The BBB+/Stable rating suggests adequate safety for timely payment of financial obligations, with stable outlook indicating that the rating is unlikely to change in the near term. This rating reaffirmation supports the subsidiary's operational and expansion plans while maintaining investor confidence in the company's creditworthiness.

Bhagyanagar India Limited conducted its comprehensive Q3FY26 earnings call on January 31, 2026, revealing exceptional financial performance and strategic business developments. The virtual session, held at 12:00 PM IST, provided stakeholders with detailed insights into the company's operational achievements and future roadmap.

Outstanding Financial Performance

The company delivered remarkable results for the nine months ended December 31, 2025, demonstrating significant growth across key financial metrics.

Managing Director Devendra Surana highlighted that the nine-month revenue of ₹1,643 crores has already surpassed the entire FY25 turnover of ₹1,625 crores. The Q3FY26 EBITDA margin improved to 4.90%, with the company targeting to cross 5% in coming quarters.

Capacity Expansion and Production Growth

The company has significantly scaled its operations, reaching a current capacity of 30,000 metric tons per annum. By February end, the capacity is expected to increase to 35,000 metric tons per annum. The company has grown its production 10-fold over the past decade, from 2014 to present.

Strategic Demerger Initiative

Bhagyanagar India announced plans to demerge its copper business into a new entity called Tieramaet Limited, expected to be completed by FY26-27. The demerger will create two focused entities:

• Tieramaet Limited: Will house the entire copper business operations
• Bhagyanagar India Limited: Will retain land parcels and wind energy assets worth approximately ₹30 crores with zero debt

Shareholders will receive mirror shareholding, with each Bhagyanagar India share receiving one Tieramaet share.

Value-Added Products and Innovation

The company has expanded its product portfolio with high-margin offerings, including tin and silver-plated copper bus bars for AI data centers, primarily targeting export markets including the US. New innovations include:

Real Estate Development Prospects

Founder Narendra Surana outlined significant real estate opportunities arising from Telangana's Hyderabad Industrial Transformation Policy. The company holds three strategic land parcels in industrial areas with potential for conversion to commercial or residential use.

Future Growth Targets

The company has set ambitious growth targets, accelerating its timeline to reach ₹5,000 crores turnover by FY28-29, earlier than the previously targeted 2030. This acceleration reflects strong market demand driven by AI, electric vehicles, and green energy sectors.

With EBITDA margins stabilizing around 5% and PAT margins expected to reach 3%+, the company is well-positioned to capitalize on the copper demand boom expected over the next 10-15 years.