Super Iron Foundry has received a comprehensive credit rating review from Infomerics Valuation and Rating Ltd, with the rating agency announcing mixed actions on the company's bank facilities on December 17, 2025. The rating update reflects changes in the company's facility structure while maintaining existing credit quality assessments.

Rating Actions and Facility Changes

Infomerics has taken varied actions across different facility categories for Super Iron Foundry. The rating agency has made significant adjustments to both long-term and short-term bank facilities based on the company's operational and financial performance for FY25 and 6M FY26.

Facility Structure Details

The revised facility structure includes multiple components across different lenders. UCO Bank provides cash credit facilities, while both UCO Bank and Bank of India offer export-related facilities.

Fund-Based Facilities

• Long-term: Cash Credit facility of ₹4.80 crores from UCO Bank
• Short-term: EPC/PCFC facilities totaling ₹110.65 crores (₹50.00 crores from UCO Bank and ₹55.00 crores from Bank of India)

Non Fund-Based Facilities

• Bank Guarantee of ₹3.30 crores
• Non Fund-based limit of ₹2.45 crores
• Total non fund-based facilities: ₹5.75 crores

Rating Rationale and Outlook

The rating committee's decision was based on a comprehensive review of Super Iron Foundry's recent operational and financial performance. The IVR BBB-/Stable rating indicates that securities are considered to have moderate degree of safety regarding timely servicing of financial obligations, carrying moderate credit risk.

The short-term IVR A3 rating suggests that the facilities have moderate degree of safety regarding timely payment of financial obligations, though they carry higher credit risk compared to instruments rated in higher categories.

Regulatory Compliance and Monitoring

The rating is valid for one year from December 15, 2026, subject to regular surveillance and review by Infomerics. Super Iron Foundry is required to provide monthly No Default Statements and quarterly performance results within six weeks of each calendar quarter close. The company has submitted this rating intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring compliance with regulatory disclosure norms.

Super Iron Foundry Ltd. (SIF) has submitted a corrigendum to rectify an inadvertent error in its unaudited financial results for the half year ended September 30, 2025. The company discovered that a figure was incorrectly placed in the Balance Sheet after the results were uploaded on the Bombay Stock Exchange platform.

Financial Performance Highlights

SIF's financial performance for the half year ended September 30, 2025, shows a mixed picture:

Note: All figures in ₹ lakhs

The company experienced a significant revenue increase of 194.10% compared to the same period last year. However, net profit saw a substantial decline of 92.70%.

Corrigendum Details

The company stated in its filing:

"The Company had filed its Unaudited Financial Results (Standalone & Consolidated), along with the Limited Review Report, on November 14, 2025. Subsequently, after the said results were uploaded on the Bombay Stock Exchange platform the Company noticed an inadvertent error as a figure was not shown in its correct head in the Balance Sheet."

Super Iron Foundry has assured that due care will be taken to avoid such occurrences in the future.

Consolidated Results

The consolidated financial results also reflect a similar trend:

Note: All figures in ₹ lakhs

Balance Sheet Highlights

As of September 30, 2025, the company's balance sheet shows:

Note: All figures in ₹ lakhs

Investor Considerations

While the substantial revenue growth is a positive sign, the significant drop in profitability raises questions about the company's cost management and operational efficiency. Investors should carefully analyze the full financial report, including the corrected balance sheet, to understand the factors behind this divergence in revenue and profit trends.

The company's proactive approach in identifying and rectifying the error in its financial reporting demonstrates a commitment to transparency. However, it also highlights the need for more robust internal controls in financial reporting processes.

As Super Iron Foundry continues to navigate its growth phase, evidenced by the revenue surge, it will be crucial for the company to focus on translating this top-line growth into improved bottom-line results in the coming quarters.