bg-rating-rationales

Entity-Specific Rating Rationales

19 Feb 2026

Hikal Limited: Change in limits for Bank facilities

Hikal Limited: Change in limits for Bank facilities

24 Nov 2025

Hikal Limited: Ratings downgraded to [ICRA]A(Stable)/[ICRA]A2+

Hikal Limited: Ratings downgraded to [ICRA]A(Stable)/[ICRA]A2+

19 Aug 2025

Hikal Limited: Update on material event

Hikal Limited: Update on material event

09 Apr 2025

Hikal Limited: Ratings reaffirmed

Hikal Limited: Ratings reaffirmed

04 Mar 2024

Hikal Limited: Ratings reaffirmed

Hikal Limited: Ratings reaffirmed

bg-rating-crediet-reports

Entity-Specific Credit Perspective Reports

22 Dec 2025

Hikal Limited

Hikal Limited (Non-SF)

08 May 2025

Hikal Limited

Hikal Limited (Non-SF)

01 Apr 2024

Hikal Limited

Hikal Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Fund-based- Working Capital Facilities -- -- [ICRA]A(Stable) --
Short term-Fund Based [ICRA]A2+ -- -- --
Short Term Non-Fund Based [ICRA]A2+ -- -- --
Unallocated facilities [ICRA]A2+ -- [ICRA]A(Stable) --
Unallocated Limits (USD Million) [ICRA]A2+ -- [ICRA]A(Stable) --
Term Loan -- -- [ICRA]A(Stable) --

Our Analysts

Analyst 1

Gaurav Kushwaha

Analyst 2

Deepak Jotwani

Sector Head

Jitin Makkar
bg-rating-research

Most Trending Research Reports


View More
bg-rating-rationales

Rating Rationales

icon-download

View More

No Data Available

Beyond renewables - Investment outlook and emerging role of thermal power

Girishkumar Kadam,Ankit Jain,Asmita Pant

07 May 2026 04:00 PM

PPT Icon PPT

West Asia Crisis-Impact and Outlook on Oil & Gas and downstream sectors

Girishkumar Kadam,Prashant Vasisht

29 Apr 2026 04:00 PM

Podcast

View More

Media Release



View More
Ask Our Industry Analyst Get in touch with our Business Representative
Please enter your name
Please enter your mobile number
Please enter your email id
Please enter your company name
Name should not be greater than 50 characters
Please choose sector
Please enter your query
Query to have atleast ten characters
Query should not be greater than 1,000 characters
Please verify you are not a Robot.