Shri Vasuprada Plantations Limited has received a credit rating upgrade from India Ratings Research, a Fitch Group Company, marking a significant improvement in its creditworthiness assessment. The rating enhancement was announced through a regulatory filing.

Credit Rating Enhancement Details

The rating upgrade represents a notable improvement in the company's credit profile:

Company Background

Shri Vasuprada Plantations Limited, formerly known as Joonktollee Tea Industries Ltd., operates as a diversified plantation company with extensive agricultural operations. The company maintains a comprehensive portfolio of estates across different agricultural sectors.

Business Operations

The company's operations span multiple agricultural segments:

Tea Estates

• Joonktollee
• Jamirah
• Nilmoni
• Goomankhan
• Pullikanam

Coffee Estate

• Cowcoody

Rubber Estates

• Chemoni
• Echipara
• Pudukad

Market Information

The company is listed on BSE Limited with scrip code 538092, and its Non-Convertible Debentures trade under scrip code 974704. Shri Vasuprada Plantations is headquartered at 21, Strand Road, Kolkata-700001.

Regulatory Compliance

The rating upgrade announcement was made in compliance with Regulation 30 and other applicable provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This demonstrates the company's commitment to maintaining transparency with stakeholders and adhering to regulatory requirements.

The credit rating improvement from IND B/Stable to IND BB/Stable indicates enhanced financial stability and could potentially provide the company with better access to capital markets for future funding requirements.

Shri Vasuprada Plantations Limited has secured a significant legal victory with the Kerala High Court at Ernakulam granting a favorable order dated December 16, 2025. The ruling addresses the company's rubber plantation operations and is expected to positively impact its business operations and financial position.

Court Order Details

The Kerala High Court delivered its judgment in the matter of IA No. 1 of 2025 in WA No. 599 of 2020 against State of Kerala, Forest Wildlife Department, The Conservator of Forests, Thrissur and others. The case documents were uploaded on December 19, 2025.

Operational Framework

The court has established a structured framework for the company's rubber tree operations. Shri Vasuprada Plantations will be required to file quarterly statements of accounts with the forest department. Forest officials have been granted permission to oversee the cutting, removal, and replanting activities.

This supervisory mechanism aims to ensure compliance with environmental regulations while allowing the company to proceed with its business operations.

Business Impact and Compliance

The company has indicated that this judgment is expected to have a favorable impact on both its operations and financial position. The removal of the requirement to deposit entire sale proceeds with the forest department represents a significant improvement in cash flow management for the plantation operations.

Regulatory Disclosures

Shri Vasuprada Plantations Limited informed the BSE about this development on December 22, 2025, under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The company provided additional disclosure on December 23, 2025, with comprehensive details as required under the SEBI Master Circular.

The company explained that the order was not uploaded on the official portal until December 19, 2025, and they became aware of it on December 22, 2025, leading to immediate disclosure to the stock exchange. The detailed information regarding this court order is available on the company's website at www.svpl.in for stakeholder reference.