KSR Footwear Bank Loans Upgraded to IND BB+ by India Ratings
RATING
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 13 Oct 2026, 11:31 AM IST · BSE ID: 2465227c-1ab3-4af0-84df-5df211a72f5d
View Original BSE Filing (PDF)
💡
In Simple Terms
The company's credit rating for its bank loans improved, signaling better financial health according to an independent agency.
🤖 AI Summary
- India Ratings upgraded KSR Footwear bank loan facilities' long-term rating to IND BB+.
- Total bank loan facilities rated aggregate INR 360 Million.
- Upgrade driven by improved EBITDAR margins and credit metrics in 2HFY26.
- Short-term rating affirmed at IND A4+; outlook is Stable for long-term.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Bank Loan Facilities (INR 320 Million)
IND BB+/Stable/IND A4+
Long Term Rating upgraded; Short-term rating affirmed
Bank Loan Facilities (INR 40 Million)
IND BB+/Stable
Assigned
FY26 Revenue
INR 1,999.46 million
FY25 Revenue
INR 2,057 million
1QFY27 Revenue
INR 522.5 million
2HFY26 Interest Coverage
1.39x
1QFY27 Interest Coverage
3.22x
🏢 How This Affects the Company
The improved credit rating may facilitate better terms for future borrowing, supporting potential business expansion or working capital needs.
The upgrade indicates improved financial metrics, specifically EBITDAR margins and credit metrics, in the recent performance period.
The upgraded rating suggests a reduced credit risk profile for the company's bank loan facilities.
👥 What This Means For Shareholders
✅
Action Required
No action is required by shareholders.
👤
Who Is Affected
All shareholders are indirectly affected by the improved credit profile, which may impact future financing costs and business operations.
🔍
Management Signal
Management's successful strategy to liquidate obsolete inventory and introduce new products has demonstrably improved financial performance metrics.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
KSR Footwear's next quarterly results for FY27 confirmation.
Rating agency's review of updated liquidity position.
Performance updates on new product SKUs' traction.
MEDIUM RISK
While ratings are upgraded, stretched liquidity and modest revenue remain key concerns for the company.
💡 Investor Takeaway
India Ratings upgraded KSR Footwear's bank loan rating to IND BB+/Stable, citing improved EBITDAR margins and credit metrics in 2HFY26, while noting stretched liquidity.
⚖️ Strengths & Concerns
✅ Positives
- Improved EBITDAR margins and credit metrics in 2HFY26, with interest coverage at 1.39x.
- Extensive promoter experience in the footwear industry since 1981.
⚠️ Concerns
- Modest revenue of INR 1,999.46 million in FY26, though expected to improve.
- Stretched liquidity noted by the rating agency.
❓ Frequently Asked Questions
What is the new long-term credit rating for KSR Footwear's bank loans?
India Ratings has upgraded KSR Footwear's bank loan facilities' long-term rating to IND BB+ with a Stable Outlook.
What is the total value of bank loan facilities rated by India Ratings?
The total aggregate amount of KSR Footwear's bank loan facilities rated is INR 360 Million.
What factors led to the credit rating upgrade for KSR Footwear?
The upgrade reflects an improvement in KSR Footwear’s EBITDAR margins and credit metrics in 2HFY26 and 1QFY27.
What was KSR Footwear's revenue in FY26?
KSR Footwear's revenue was INR 1,999.46 million in FY26.
What is the affirmed short-term rating for KSR Footwear's bank loans?
India Ratings affirmed KSR Footwear's short-term rating at IND A4+.
Questions based on this BSE filing only. For information purposes.