CRISIL Ratings Limited has reaffirmed the credit rating for Lactose India Limited , maintaining its long-term bank facilities at BBB- with a stable outlook. This rating assessment covers a total of Rs. 60.00 crore in bank loan facilities from Bank of Baroda.

Rating Details

The reaffirmed rating applies to the following facilities:

Rating Validity and Disclosure

The rating letter was issued on October 24, 2025, and remains valid until March 31, 2026. Lactose India Limited's Company Secretary, Ritesh Pandey, submitted the rating confirmation to BSE Limited in compliance with regulatory disclosure requirements.

About the Rating

CRISIL's BBB- rating indicates that the company has a moderate degree of safety regarding timely servicing of financial obligations. This rating suggests that Lactose India Limited faces moderate credit risk, and changes in circumstances or economic conditions are more likely to weaken its capacity to meet its financial commitments compared to entities in higher rating categories.

The 'Stable' outlook indicates that CRISIL expects Lactose India Limited to maintain its credit profile over the medium term. This outlook is based on the agency's assessment of the company's business and financial risk profile.

Implications for Investors and Stakeholders

The reaffirmation of the credit rating provides a degree of assurance to investors and stakeholders about Lactose India Limited's ability to meet its financial obligations. However, it's important to note that while the rating offers an opinion on the likelihood of timely debt repayment, it does not constitute a recommendation to buy, sell, or hold the company's securities.

Investors and stakeholders should consider this rating as one of many factors in their decision-making process and should also review other financial and operational aspects of the company for a comprehensive assessment.

As per CRISIL's disclaimer, the ratings are based on information provided by the issuer or obtained from sources considered reliable by CRISIL. The rating agency does not guarantee the completeness or accuracy of the information on which the rating is based and is not responsible for any errors in its ratings.

Lactose (India) Limited , a prominent player in the pharmaceutical industry, has reached a significant milestone in its proposed merger with Vitanosh Ingredients Private Limited. The company recently received a no-objection observation letter from BSE Limited, marking a crucial step forward in the amalgamation process.

Key Highlights of the Merger Approval

• BSE Approval Date: The BSE issued the no-objection letter on August 22, 2025.
• Nature of Approval: The letter contained 'no adverse observations' regarding the proposed merger.
• Legal Framework: The scheme of amalgamation falls under Sections 230 to 232 of the Companies Act, 2013.
• Board Approval: The merger scheme was initially approved by the Board of Directors in October 2024.

Implications and Next Steps

The receipt of the no-objection letter from BSE is a positive development for Lactose (India) Limited. However, it's important to note that this approval is just one step in the broader merger process. The company still needs to secure other regulatory and statutory approvals before the merger can be finalized.

Transparency Measures

In line with corporate governance practices, Lactose (India) Limited has made the BSE observation letter available on its official website. This move allows shareholders and other interested parties to access and review the document, ensuring transparency in the merger proceedings.

Looking Ahead

While this approval from BSE is a significant milestone, the merger between Lactose (India) Limited and Vitanosh Ingredients Private Limited remains subject to additional regulatory scrutiny. Stakeholders and market observers will be keenly watching the next steps in this corporate restructuring process.

As the merger progresses, it could potentially impact the company's market position and operational dynamics. However, the full implications of this amalgamation will only become clear as the process unfolds and receives all necessary approvals.