Isgec Heavy Engineering Limited has announced that ICRA Limited has reaffirmed credit ratings for its wholly owned subsidiary Saraswati Sugar Mills Limited. The rating communication, dated December 31, 2025, covers facilities totaling ₹401.65 crores with no changes from the previous ratings assigned in October 2024.

Credit Rating Details

ICRA Limited has maintained consistent ratings across all facility categories for Saraswati Sugar Mills Limited. The rating reaffirmation demonstrates stability in the subsidiary's creditworthiness and financial standing.

Banking Partner Distribution

The credit facilities are distributed across multiple banking institutions, providing diversified funding sources for Saraswati Sugar Mills Limited. State Bank of India holds the largest exposure among the banking partners.

Cash Credit Facilities (₹336.65 crores)

Term Loan and Non-Fund Based Facilities

HDFC Bank Limited provides the entire term loan facility of ₹60.00 crores, while State Bank of India handles the non-fund based facilities of ₹5.00 crores. All facilities carry the respective [ICRA]A(Stable) and [ICRA]A1 ratings.

Regulatory Compliance

The rating reaffirmation was communicated to stock exchanges in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also uploaded this information on its website at www.isgec.com for stakeholder access.

ICRA Limited noted that the ratings will be due for surveillance within one year from the rating communication date, with the agency reserving the right to review ratings based on new information or changing circumstances affecting the rated entity.

ISGEC Heavy Engineering Ltd has informed stock exchanges about a senior management change following the retirement of Mr. Suman Kumar Jain, effective December 29, 2025. The company made this disclosure to both BSE and NSE in accordance with regulatory requirements.

Senior Management Retirement Details

The company announced that Mr. Suman Kumar Jain will retire and cease to be part of the senior management personnel with effect from the closing hours on December 29, 2025. Mr. Jain was associated with the Air Pollution Control Equipment Business division of the company.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 and other applicable regulations, read with Para A of Part-A of Schedule III of the SEBI Listing Regulations. The company specifically noted that the requirement to disclose a resignation letter with detailed reasons is not applicable in this case, as it pertains to a retirement rather than a resignation.

The company also referenced compliance with SEBI Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, in providing the necessary particulars for the senior management change.

Communication and Disclosure

ISGEC Heavy Engineering has made this information available on its official website at www.isgec.com as part of its transparency and disclosure obligations. The formal communication was signed by Kalyan Ghosh, Compliance Officer of the company, with membership number A10790.

The company maintains its registered office at Radaur Road, Yamunanagar 135001, Haryana, India, and operates under CIN: L23423HR1933PLC000097.