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Entity-Specific Rating Rationales

07 Oct 2025

Ultramarine and Pigments Ltd: Ratings reaffirmed; rated amount enhanced

Ultramarine and Pigments Ltd: Ratings reaffirmed; rated amount enhanced

23 Aug 2024

Ultramarine and Pigments Ltd: Ratings reaffirmed

Ultramarine and Pigments Ltd: Ratings reaffirmed

12 May 2023

Ultramarine and Pigments Ltd: [ICRA]A+(Stable)/[ICRA]A1+ Ratings reaffirmed; rated amount enhanced

Ultramarine and Pigments Ltd: [ICRA]A+(Stable)/[ICRA]A1+ Ratings reaffirmed; rated amount enhanced

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Entity-Specific Credit Perspective Reports

03 Nov 2025

Ultramarine And Pigments Ltd

Ultramarine And Pigments Ltd (Non-SF)

20 Sep 2024

Ultramarine And Pigments Ltd

Ultramarine And Pigments Ltd (Non-SF)

13 Jul 2023

Ultramarine And Pigments Ltd

Ultramarine And Pigments Ltd (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Fund based Term Loan -- -- [ICRA]A+(Stable) --
Long term/Short term – Fund based/Non-fund based facilities [ICRA]A1+ -- [ICRA]A+(Stable) --
Short term – Non-fund based facilities [ICRA]A1+ -- -- --
Cash Credit -- -- [ICRA]A+(Stable) --

Our Analysts

Analyst 1

Arvind Srinivasan

Analyst 2

Kushal Kumar

Sector Head

Girishkumar Kashiram Kadam
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