Goa Carbon has announced that Acuité Ratings & Research Limited has assigned and reaffirmed credit ratings on the company's enhanced bank facilities totaling ₹500.00 crores. The rating agency assigned a long-term rating of 'ACUITE BBB+' and short-term rating of 'ACUITE A2' with a stable outlook, reflecting the company's credit profile.

Rating Details and Coverage

The credit rating covers a comprehensive range of banking facilities across multiple financial institutions. The rating breakdown shows both newly assigned and reaffirmed ratings across different facility types:

Banking Partner Distribution

The rated facilities are distributed across several prominent banking institutions, demonstrating Goa Carbon's diversified banking relationships. The detailed facility-wise breakdown includes:

Rating Validity and Surveillance

The rating letter carries specific validity parameters and surveillance requirements. Key aspects include:

• Expiry Date: September 27, 2026
• Annual Fee Validity: September 27, 2026
• Next Review: September 28, 2026 (subject to surveillance fee receipt)
• Monthly Compliance: No Default Statement required on first working day of each month

Acuité Ratings reserves the right to revise the ratings and outlook based on new information or circumstances that may impact the credit profile. The rating agency emphasizes that ratings are subject to change even before the expiry date, advising lenders and investors to verify current ratings through their official website.

Regulatory Compliance

Goa Carbon has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by promptly informing the exchanges about the credit rating action. The company's proactive approach to regulatory compliance demonstrates its commitment to transparency and corporate governance standards in the Indian capital markets.

Goa Carbon Limited , a leading manufacturer of calcined petroleum coke, has recently received a significant financial boost in the form of tax refunds totaling Rs 7.61 crores from the Income Tax Department. This development comes as a positive outcome for the company, potentially strengthening its financial position.

Tax Refund Details

The tax refunds received by Goa Carbon Limited are as follows:

These refunds are related to previously disallowed deductions under Section 80HHC of the Income Tax Act, which were later overturned by appellate authorities.

Impact on Financial Position

The receipt of these tax refunds is likely to have a positive impact on Goa Carbon's financial position. To put this in perspective, let's look at some key financial metrics from the company's recent balance sheet:

The tax refund of Rs 7.61 crores, while not a large percentage of the company's total assets, could still provide a welcome boost to the company's liquidity and working capital.

Implications for Investors

For investors and stakeholders in Goa Carbon Limited, this development may be seen as a positive sign. The tax refunds not only provide an immediate cash inflow but also represent a successful resolution of long-standing tax disputes. This could potentially lead to:

1. Improved cash flow position
2. Reduced tax-related uncertainties
3. Possible reinvestment opportunities for business growth

However, it's important to note that while this is a positive development, investors should consider it in the context of the company's overall financial health and market conditions.

Conclusion

The receipt of Rs 7.61 crores in tax refunds marks a favorable turn for Goa Carbon Limited. As the company navigates through its financial landscape, this additional liquidity could provide some flexibility in its operations and strategic planning. Investors and market watchers will likely keep a close eye on how the company utilizes these funds and its impact on future financial performance.