Credit rating agency, CRISIL has reaffirmed AA rating to Ipca Laboratories’ long term bank facilities. The rating agency has also reaffirmed A1+ rating to the company’s Rs 1.5 billion short term debt while, the rating agency has reaffirmed AA/ stable rating to the company’s Rs 500 million Non Convertible Debentures (NCDs).
Further, CRISIL has assigned AA/stable rating to Rs 2,000 million NCDs of the company.
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.
