India Ratings and Research (Ind-Ra) has upgraded the long-term bank loan rating of Magadh Sugar and Energy Limited to IND A+/Stable from IND A, while reaffirming the short-term rating at IND A1, according to a regulatory filing.
The rating action, communicated by Ind-Ra on May 8, 2026, covers total bank loan facilities of Rs 9,707.50 million, comprising long-term facilities of Rs 3,187.50 million and short-term facilities of Rs 6,520 million. An additional facility of Rs 100 million has been freshly assigned the IND A+/Stable/IND A1 rating.
The upgraded long-term rating reflects an improvement from the previous IND A category, signalling a stronger credit profile as assessed by the rating agency. The stable outlook on the long-term rating was maintained alongside the upgrade.
The rated facilities include a mix of term loans and fund-based as well as non-fund-based working capital limits drawn from a panel of lenders including State Bank of India, ICICI Bank, HDFC Bank, Axis Bank, RBL Bank, Yes Bank, South Indian Bank, and DCB Bank. Term loans from ICICI Bank, RBL Bank, and Axis Bank, along with working capital facilities across the lender panel, are covered under the upgraded rating.
The disclosure was filed by S. Subramanian, Company Secretary of Magadh Sugar and Energy Limited, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Magadh Sugar and Energy Limited is part of the K.K. Birla Group of Sugar Companies, with its registered office in Hargaon, District Sitapur, Uttar Pradesh, and its corporate office in Kolkata. The company shares the same group parentage as Avadh Sugar and Energy Limited, which received a simultaneous rating reaffirmation from Ind-Ra on the same date.