CRISIL reaffirms Biocon's credit ratings at AA+/Stable and A1+

CRISIL Ratings has reaffirmed Biocon Limited's long-term credit rating at CRISIL AA+/Stable and its short-term rating at CRISIL A1+ on June 18, 2025. The ratings affirmation reflects Biocon's established position in the biopharmaceutical sector, diversified revenue streams, and healthy product pipeline. As of fiscal year 2025, Biocon's revenue stood at INR 15,262 crore, with a consolidated EBITDA margin of 20.7%. Growth in the biosimilars segment, a key driver, reached 15% on a like-for-like basis. Biocon plans to raise up to INR 4,500 crore through various securities routes to pare down debt, including the purchase of outstanding optionally convertible debentures of its subsidiary, Biocon Biologics Ltd (BBL). Biocon Biologics raised USD 800 million via bonds due in 2029 and USD 320 million via a syndicated debt facility in October 2024.