Credit rating agency, CRISIL has reaffirmed the ratings assigned to bank facilities of Ipca Laboratories. The agency has reaffirmed the Long-Term Rating amounting Rs 50 crore and Rs 20 crore NCDs at ‘AA/stable’. The Short-term rating amounting to Rs 21 crore (reduced from Rs 81 crore) has been reaffirmed to ‘A1+’.
Ipca Laboratories is engaged in manufacturing of active pharmaceutical ingredients and formulations. It operates in 110 countries and its export accounts for 50% of the company’s income. Worldwide the company is one of the largest suppliers of APIs and intermediates. The company holds leadership position in Anti-malarial and Rheumatoid Arthritis area.
