TGV SRAAC Limited has announced the renewal and reaffirmation of its credit ratings by CARE Ratings Limited, maintaining stable outlook across all banking facilities. The rating agency issued a press release dated January 8, 2026, confirming the continuation of existing ratings for the company's total banking facilities worth ₹621.97 crores.

Credit Rating Details

CARE Ratings has reaffirmed the company's credit ratings across three categories of banking facilities with some notable changes in facility amounts:

Rating Significance

The CARE A; Stable rating indicates adequate degree of safety regarding timely servicing of financial obligations, with stable outlook suggesting that the rating is unlikely to change in the near term. The CARE A1 rating for short-term facilities reflects strong degree of safety regarding timely payment of financial obligations.

Facility Amount Changes

Notable adjustments were made to facility amounts during the review process. Long-term bank facilities saw a reduction from ₹111.96 crores to ₹77.47 crores, while long-term/short-term bank facilities increased significantly from ₹382.18 crores to ₹528.55 crores. Short-term bank facilities were enhanced from ₹5.21 crores to ₹15.95 crores.

Regulatory Compliance

The company has fulfilled its regulatory obligations under Regulation 30 of SEBI (LODR) Regulations, 2015, by promptly disclosing the credit rating renewal to BSE Limited. Additionally, in compliance with Regulation 46(2) of SEBI (LODR) Regulations, 2015, the information has been made available on the company's website at www.tgvgroup.com .

The communication was signed by V. Radhakrishna Murthy, Chief General Manager and Company Secretary, confirming the company's commitment to maintaining transparency with stakeholders regarding its credit profile and financial standing.

TGV Sraac , a leading chemical manufacturer, has announced robust financial results for the second quarter of fiscal year 2026, demonstrating significant growth in both revenue and profitability.

Financial Highlights

• Net Profit: ₹370.00 crore, up 12% year-over-year from ₹330.00 crore
• Revenue: ₹5,000.00 crore, a 16% increase from ₹4,300.00 crore in the same period last year
• Earnings Per Share (EPS): ₹3.46, compared to ₹3.07 in Q2 FY2025

Segment Performance

The company's strong performance was primarily driven by its chemicals segment, which continues to be the main revenue generator:

Operational Efficiency

TGV Sraac's focus on operational efficiency is evident in its financial results:

• EBITDA Margin: Improved to 19.4% from 16.5% in the same quarter last year
• Finance Costs: Decreased to ₹618.00 crore from ₹690.00 crore in the previous quarter

Balance Sheet Strength

The company's balance sheet remains robust:

• Cash and Cash Equivalents: ₹3,938.00 crore, up from ₹3,317.00 crore at the end of FY2025
• Total Assets: ₹2,03,647.00 crore, showing a steady increase from ₹1,96,761.00 crore in March 2025

Management Commentary

V. Radhakrishna Murthy, CGM & Company Secretary, stated, "Our strong performance in Q2 FY2026 reflects the company's resilience and strategic focus on core business areas. The significant growth in our chemicals segment and improved operational efficiencies have contributed to this positive outcome."

Future Outlook

While the company has not provided specific guidance for the future, the management remains optimistic about sustaining growth momentum, supported by:

1. Continued focus on the high-performing chemicals segment
2. Ongoing efforts to improve operational efficiencies
3. Strategic investments in capacity expansion and technology upgrades

Investors and analysts will be keenly watching TGV Sraac's performance in the coming quarters, especially given the challenging global economic environment and fluctuating raw material prices.

The company's board meeting, which approved these results, was held on November 12, 2025, and lasted from 12:30 PM to 3:00 PM.