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As an early entrant in the Credit Rating business, ICRA Limited (ICRA) is one of the most experienced Credit Rating
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AU Small Finance Bank Limited: Rating reaffirmed and outlook revised to Positive from Stable; rating assigned to Rs. 100-crore infrastructure bonds 01 Oct 2026

KPS-1 Transmission Limited: Rating upgraded for BLR; Rating assigned for NCD 01 Oct 2026

Orra Fine Jewellery Private Limited: [ICRA]BBB+ (Positive)/[ICRA]A2; assigned 01 Oct 2026
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ICRA industry research provides unique research offering for 60+ sectors in India wherein 250+ Ratings analysts
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Implementation of proposed hike in WMA and SDF limits, dip in OD days and changes in CSF/GRF to nudge better fiscal management by states 01 Oct 2026

Sub-par monsoon, low reservoir storage to weigh on rabi sowing; outlook for rural demand remains circumspect 01 Oct 2026

Fiscal deficit rose to Rs. 7.1 trillion in 5M FY2027; may overshoot FY2027 target by Rs. 1.3-1.4 trillion, unless matched by expenditure savings 30 Sep 2026
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Rising cost pressures exert upward pressure on tariffs and reshape the economics of solar and battery-based projects amid transmission-related execution challenges 29 Sep 2026

RERA: Driving transparency, discipline and formalisation in real estate 22 Sep 2026

All-India electricity demand remained robust in September 2026 amid elevated spot tariffs and decline in coal stock 23 Sep 2026
Credit Perspective
About Credit Perspective Reports

ICRA industry research provides unique research offering for 60+ sectors in India wherein 250+ Ratings analysts
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Latest CPR

Vistaar Financial Services Pvt Ltd
01 Oct 2026

Cemindia Projects Limited
01 Oct 2026

Mahindra Logistics Limited
01 Oct 2026
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What's in the news?

India Inc s price dilemma - Financial Express 23 September 2026

Tractor retail growth remains muted at 0.8% in August - ET Auto 22 September 2026

Core sector growth down to 4.8% in Aug dragged by energy supply issues, fertilizer output decline - The Hindu Business Line 22 September 2026
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Biocon Limited

Sector : Pharmaceuticals & Biotechnology Sub Sectors : Pharmaceuticals

02 Dec 2025 Biocon Limited: Biocon Limited-CPR-02122025

Home Credit Perspective Reports Biocon Limited

Entity-Specific Rating Rationales

16 Dec 2025

Biocon Limited: Update on material event

30 Oct 2025

Biocon Limited: Ratings reaffirmed

30 Aug 2024

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

Entity-Specific Credit Perspective Reports

02 Dec 2025

Biocon Limited

Biocon Limited (Non-SF)

11 Oct 2024

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

912261143451
aman.mundhada@icraindia.com

Analyst 2

Mythri Macherla

+91 80 43326407
mythri.macherla@icraindia

Sector Head

Jitin Makkar

9873339826
jitinm@icraindia.com

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Podcast

Indian Cement Industry Outlook | Green Power and Cost Efficiency | ICRA Podcast

Sep 2026

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