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Home Credit Perspective Reports Bharat Serums and Vaccines Limited
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Entity-Specific Rating Rationales

08 May 2025

Bharat Serums and Vaccines Limited: Ratings upgraded to [ICRA]AA/[ICRA]A1+; ratings removed from Watch with Positive Implications; Stable outlook assigned

Bharat Serums and Vaccines Limited: Ratings upgraded to [ICRA]AA/[ICRA]A1+; ratings removed from Watch with Positive Implications; Stable outlook assigned

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02 Aug 2024

Bharat Serums and Vaccines Limited - Placed on Rating Watch with Positive Implications

Bharat Serums and Vaccines Limited - Placed on Rating Watch with Positive Implications

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11 Sep 2023

Bharat Serums and Vaccines Limited: Ratings reaffirmed

Bharat Serums and Vaccines Limited: Ratings reaffirmed

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Entity-Specific Credit Perspective Reports

11 Jun 2025

Bharat Serums and Vaccines Limited

Bharat Serums and Vaccines Limited (Non-SF)

10 Oct 2023

Bharat Serums and Vaccines Limited

Bharat Serums and Vaccines Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Long-term: Fund-based facilities -- -- [ICRA]AA(Stable) --
Short-term – Non-fund based [ICRA]A1+ -- -- --
Unallocated [ICRA]A1+ -- [ICRA]AA(Stable) --
Term Loan -- -- * --
Fund Based – Working Capital Facilities -- -- * --
Letter of Credit * -- -- --

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Analyst 1

Karan Gupta

Analyst 2

Sakshi Suneja

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Jitin Makkar
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