Press Release31 Jul 2024, 04:50 pm
UGRO Capital Ltd Receives Highest Rating 'IND A1+' for Short-Term Instruments and 'IND A+' for Long-Term Instruments
AI Summary
UGRO Capital, a leading DataTech NBFC, has been upgraded to 'IND A1+' for its short-term instruments and 'IND A+' for long-term instruments by India Ratings and Research. This upgrade underscores UGRO’s robust performance and strategic vision, highlighting its significant achievements and strong growth trajectory. The rating upgrade reflects UGRO’s rapid expansion and growth in franchise, driven by its diverse funding mix, healthy capital buffers, and comprehensive product offerings tailored to MSMEs.
Key Highlights
- UGRO Capital receives the highest rating of ‘IND A1+’ for its short-term instruments from India Ratings and Research
- The company's Non-convertible debentures, Bank loans, and Sub-debt have also been upgraded to 'IND A+’ from ‘IND A’
- UGRO’s rapid expansion and growth in franchise, driven by its diverse funding mix and healthy capital buffers
- The company's strategic shift towards high-yielding products and increased emphasis on micro-loans is expected to enhance profitability and margins
- UGRO maintains a strong liquidity position, with a total liquidity of around INR 7.0 billion at the end of Q1FY25