Wockhardt Limited updates on ratings

CARE Ratings Limited (CARE Ratings) has reaffirmed Wockhardt Limited's Ratings for:

- Long-Term Bank Facilities (Fund Based) of ₹ 527.75 (Reduced from ₹ 700 Crores) as "CARE BBB-; Stable";

- Short Term Bank Facilities (Non-Fund Based) of ₹ 171.20 Crores (Reduced from ₹ 307.80 Crores) as "CARE A3" ; and

- Non-Convertible Debenture of Rs. 200 crore as "CARE BBB-; Stable"

- Non-Convertible Debentures aggregating upto Rs. 50 crores as "CARE BBB-; Stable"

The ratings were given, after factoring in the tie-up with various global partners for supply of vaccines and respiratory antibiotic, diversified product portfolio spread across multiple therapeutic segments, accredited manufacturing facilities along with R&D-focused approach, established marketing network with global presence, improvement in total operating income and operating profit margins in FY22 and successful raising of funds through rights issue and NCD issue.

Source : Equity Bulls

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Wockhardt RatingUpdate Reaffirmed LongTerm ShortTerm