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Entity-Specific Rating Rationales

30 Oct 2025

Biocon Limited: Ratings reaffirmed

Biocon Limited: Ratings reaffirmed

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30 Aug 2024

Biocon Limited: Ratings reaffirmed for bank facilities; rating reaffirmed and withdrawn for commercial paper programme

Biocon Limited: Ratings reaffirmed for bank facilities; rating reaffirmed and withdrawn for commercial paper programme

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04 Aug 2023

Biocon Limited: Ratings reaffirmed; removed from rating watch with developing implications; assigned Stable outlook for the long-term rating; short term rating reaffirmed

Biocon Limited: Ratings reaffirmed; removed from rating watch with developing implications; assigned Stable outlook for the long-term rating; short term rating reaffirmed

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Entity-Specific Credit Perspective Reports

02 Dec 2025

Biocon Limited

Biocon Limited (Non-SF)

11 Oct 2024

Biocon Limited

Biocon Limited (Non-SF)

04 Sep 2023

Biocon Limited

Biocon Limited (Non-SF)

06 Jan 2023

Biocon Limited

Biocon Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Long-term/Short-term – unallocated [ICRA]A1+ -- [ICRA]AA+(Stable) --
Commercial Paper Withdrawn -- -- --

Our Analysts

Analyst 1

Aman Mundhada

Analyst 2

Mythri Macherla

Sector Head

Jitin Makkar
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