NSECredit Rating- Revision1 Jul 2026 · 1 Jul 2026, 10:52 am
Credit Rating- Revision
Patanjali Foods Limited · PATANJALI
✦ AI SummaryRating Change
Patanjali Foods Limited has informed the Exchange about Credit Rating- Revision, with ICRA Limited upgrading the credit rating of the company for availing credit facilities.
Analysis Scores
Earnings Impact5/10
Growth Catalyst2/10
Governance Concern1/10
Regulatory Risk8/10
Balance Sheet Risk3/10
Liquidity Impact8/10
Market Sentiment6/10
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Full Announcement
Patanjali Foods Limited has informed the Exchange about Credit Rating- Revision
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RUCHI_01072026105226_Letter.pdf
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PFL/2026 July 01, 2026
BSE Ltd. National Stock Exchange of India Ltd.,
Floor No. 25, Exchange Plaza,
Phiroze Jeejeebhoy Tower, Bandra-Kurla Complex,
Dalal Street, Bandra (E),
Mumbai – 400 001 Mumbai – 400 051
BSE Scrip Code: 500368 NSE Symbol: PATANJALI
Sub: Revision in Credit Rating - Intimation under regulation 30 of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015
Dear Sir/Madam,
Pursuant to Regulation 30 read with sub para (3) of Para (A) of Part (A) of Schedule III of the
Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (“Listing Regulations”), as amended, read with the SEBI circular no.
HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, we wish to inform you that
ICRA Limited (“ICRA”) has revised and upgraded the credit rating of the Company for availing
credit facilities vide its letter dated June 30, 2026. Details of the revised and upgraded credit rating
are presented below:
Previous Current
Rated Rated
Instrument Amount (Rs. Amount Rating Action
in Crore) (Rs. in
Crore)
Long-term fund-
based/ non-fund 1,625.00 - -
based limits
Long-term Fund- [ICRA]AA- (Stable) upgraded from
based Limits – - 1,575.00 [ICRA]A+(Stable) and assigned for
CC/WCDL enhanced amount
Short-term non-fund
[ICRA]A1+ reaffirmed and assigned for
based limits- 2,000.00 2,700.00
enhanced amount
LC/BG/BC
[ICRA]AA- (Stable) upgraded from
Long-term/Short- - [ICRA]A+(Stable) assigned for
term Non-fund based 150.00 enhanced amount and [ICRA]A1+;
– Forward cover reaffirmed and assigned for enhanced
amount
Long-term -
(75.00) [ICRA]AA- (Stable) assigned
Interchangeable
Total 3,625.00 4,425.00
The rating letter received from ICRA is enclosed herewith for your information and records please.
Thanking you,
Yours Sincerely,
For Patanjali Foods Limited
Ramji Lal Gupta
Company Secretary
Encl.: As above
ICRA Limited
ICRA/Patanjali Foods Limited/30062026/2
Date: June 30, 2026
Mr. Priyendu Jha
Head - Treasury Management
Patanjali Foods Limited
Plot no 231
Sector 9, Dwarka – 110075
Dear Sir,
Re: ICRA’s Credit Rating for below mentioned Instruments of Patanjali Foods Limited
As per the Rating Agreement/Statement of Work executed with ICRA Limited, ICRA’s Rating Committee has
taken the following rating actions for the mentioned instruments of your company.
Rated Amount
Instrument Rating Action1
(Rs. crore)
[ICRA]AA- (Stable) upgraded from
Long-term Fund-based Limits – CC/WCDL 1,575.00 [ICRA]A+(Stable) and assigned for
enhanced amount
Short-term non-fund based limits – [ICRA]A1+ reaffirmed and assigned
2,700.00
LC/BG/BC for enhanced amount
[ICRA]AA- (Stable) upgraded from
[ICRA]A+(Stable) assigned for
Long-term/Short-term Non-fund based –
150.00 enhanced amount and [ICRA]A1+;
Forward cover
reaffirmed and assigned for enhanced
amount
Long-term Interchangeable (75.00) [ICRA]AA- (Stable) assigned
Total 4,425.00
The aforesaid rating(s) will become due for surveillance within one year from the date of rating
communication letter. However, ICRA reserves the right to review and/or, revise the above rating(s) at any
time based on new information becoming available, or the required information not being available, or other
circumstances that ICRA believes could have an impact on the rating(s). Therefore, request the lenders and
investors to visit ICRA website at www.icra.in for latest rating(s) of the company.
The rating(s) are specific to the terms and conditions of the instruments as indicated to us by you, and any
change in the terms or size of the same would require a review of the rating(s) by us. In case there is any
change in the terms and conditions or the size of the rated instrument, the same must be brought to our
notice before the instrument is used by you. In the event such changes occur after the rating(s) have been
assigned by us and their use has been confirmed by you, the rating(s) would be subject to our review,
following which there could be a change in the rating(s) previously assigned. Notwithstanding the foregoing,
any change in the over-all limit of the instrument from that specified in this letter, would constitute an
enhancement that would not be covered by or under the said Rating Agreement.
1 Complete definitions of the ratings assigned are available at www.icra.in.
BuilSdeinngs Nitoiv. i8ty, 2 Lnad bFelolo :r ,R Teoswterirc Ate d Tel.: +91.124 .4545300 Website: www.icra.in
DLF Cyber City, Phase II CIN: L749999DL1991PLC042749 Email: info@icraindia.com
Gurugram – 122002, Haryana Helpdesk: +91 9354738909
Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel.: +91.11.23357940-41
RATING ● RESEARCH ● INFORMATION
The rating(s) assigned must be understood solely as an opinion and should not be treated, or cause to be
treated, as recommendation to buy, sell, or hold the rated instrument availed/issued by your company.
You are also requested to forthwith inform us about any default or delay in repayment of interest or principal
amount of the instrument rated, as above, or any other debt instruments/ borrowing and keep us informed
of any other developments which may have a direct or indirect impact on the debt servicing capability of the
company including any proposal for re-schedulement or postponement of the repayment programmes of
the dues/ debts of the company with any lender(s) / investor(s), or occurrence of any significant development
that could impact the ability of the company to raise funds such as restriction imposed by any authority from
raising funds through issuance of debt securities through electronic bidding system. Further, you are
requested to inform us immediately as and when the borrowing limit for the instrument rated, as above, or
as prescribed by the regulatory authority(ies) is exceeded.
We look forward to your communication and assure you of our best services.
With kind regards,
Yours sincerely,
For ICRA Limited
K Srikumar
Senior Vice President
ksrikumar@icraindia.com
Sensitivity Label : Restricted
Annexure
Details of Bank Limits Rated Amount (Rs. Rating Rating Assigned On
by ICRA (Rated on Long-Term crore)
Scale)
Fund/Non-Fund-
based Limits
Indian Bank- Cash Credit
250.00
/WCDL
State Bank of India- Cash
1200.00
Credit/WCDL
Indian Overseas Bank- Cash [ICRA]AA-
50.00 June 26, 2026
Credit /WCDL (Stable)
Doha Bank- Cash Credit
75.00
/WCDL
Doha Bank - Interchangeable
(75.00)
Limits
Total 1575.00
Details of Bank Limits Rated Amount (Rs. crore) Rating Rating Assigned On
by ICRA (Rated on Long
Term/Short-Term Scale)
Forward Cover
State Bank of India 150.00 (Stable)/[ICRA] June 26, 2026
Total 150.00
Details of Bank Limits Rated Amount (Rs. crore) Rating Rating Assigned On
by ICRA (Rated on Short-Term
Scale)
Non-Fund-Based
Facilities
State Bank of India 1700.00
Indian Bank 250.00
[ICRA]A1+ June 26, 2026
State Bank of India- Shipping
750.00
Guarantee
Total 2700.00
Sensitivity Label : Restricted