Kross Limited Surrenders Bank Facilities; CARE Ratings Withdraws Ratings Following Debt Repayment
Kross Limited has announced the withdrawal of its credit ratings by CARE Ratings effective December 4, 2025, following the surrender of its bank facilities. The company has confirmed that there is no outstanding debt under these facilities, reflecting a significant improvement in its financial position. Financial data indicates that the overall gearing ratio improved from 1.02 in FY24 to 0.15 in FY25, following its listing in September 2024. This deleveraging and strong interest coverage suggest a robust balance sheet and reduced financial risk.
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CARE Ratings has withdrawn all ratings for bank facilities as the company has zero outstanding debt under them.
Overall gearing ratio significantly improved to 0.15x in FY25 from 1.02x in FY24.
Interest coverage ratio remains strong at 8.35x for the H1FY26 period.
The withdrawal was initiated after the company received No Objection Certificates (NOCs) from its lenders.
Total operating income for FY25 stood at ₹621.34 crore with a PAT of ₹48.03 crore.
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Investors should view the debt-free status of these facilities as a positive sign of financial discipline and balance sheet strength. Monitor the company's future capital expenditure plans and how they intend to fund growth without these specific credit lines.
