India Ratings upgrades Prism Johnson to A+/Positive outlook

Prism Johnson Limited announced on October 23, 2025, that India Ratings & Research Private Limited (India Ratings) has assigned a credit rating/outlook of ‘IND A+/Positive’ for new bank loan facilities totaling INR300 crores. This positive assessment reflects an expected improvement in the company's operating profitability and credit profile by fiscal year 2026.

India Ratings also affirmed the existing non-convertible debentures and long-term issuer rating at ‘IND A+/Positive’, and existing bank loan facilities at ‘IND A+/Positive/IND A1+’. Commercial paper facilities were affirmed at ‘IND A1+’. These ratings are supported by projected EBITDA recovery in fiscal year 2026, driven by improved demand in the cement business, better realizations, and cost efficiencies.

The company's adjusted net leverage remained stable at 2.4x in fiscal year 2025, down from 2.6x in fiscal year 2024, aided by debt reduction from asset monetization and income tax refunds. The liquidity position is deemed adequate, bolstered by substantial cash and unutilized bank lines.