# ICRA Reaffirms Tanfac Industries Ratings and Lifts Rated Bank Facilities to ₹225 Crore

> ICRA reaffirmed Tanfac Industries' A+ and A1+ ratings and raised its rated bank facilities to ₹225 crore.

- Published: 2026-10-17T12:58:49+00:00
- Section: Earnings & Results
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-17/icra-tanfac-industries-ratings-225-crore
- Source: [EIN Presswire](https://www.einnews.com/article/950372150/live)

## Key takeaways

- ICRA reaffirmed Tanfac Industries' long-term rating at [ICRA]A+ (Stable) and short-term rating at [ICRA]A1+ on October 16, 2026.
- The total rated bank facilities rose from ₹195.0 crore to ₹225.0 crore, with long-term term loans rated at ₹70.0 crore.
- Tanfac is building a 20,000 MTPA R-32 refrigerant gas facility with capex of about ₹390 crore, targeted for commissioning in Q3 FY2027.

[Tanfac Industries](https://akta.pro/company-profiles/0006db7/tanfac-industries) Limited said [ICRA](https://akta.pro/company-profiles/0005wn1/icra) Limited reaffirmed its long-term credit rating at [ICRA]A+ (Stable) and its short-term rating at [ICRA]A1+, while raising the overall rated credit facility framework from ₹195.0 crore to ₹225.0 crore. The rating action was issued by ICRA on October 16, 2026, according to the [EIN Presswire](https://www.einnews.com/article/950372150/live) report.

## ICRA's Rated Facilities and the R-32 Expansion

ICRA reaffirmed fund-based working capital facilities at [ICRA]A+ (Stable) for an unchanged rated amount of ₹50.0 crore, and non-fund based working capital facilities at [ICRA]A1+ for an unchanged ₹105.0 crore. Long-term term loans were assigned and reaffirmed at [ICRA]A+ (Stable) for an enhanced rated amount of ₹70.0 crore, up from zero in previous evaluations and replacing ₹40.0 crore of unallocated short-term limits.

The company said the reaffirmation reflects a three-decade track record in fluorochemicals, a healthy financial risk profile, a strong capital structure and net debt-free status. Tanfac operates as a joint sector entity between Tamil Nadu Industrial Development Corporation and Anupam Rasayan India Limited, which holds a 24.99% equity stake and exercises management control. Tanfac is setting up a 20,000 MTPA R-32 refrigerant gas manufacturing facility with estimated capex of approximately ₹390 crore, with around 65% of the proposed capacity already contracted and commissioning targeted for Q3 FY2027. Equity funding for the expansion includes a ₹250 crore Qualified Institutions Placement completed in June 2026 and a preferential issue of ₹99.41 crore.

## Tanfac's Operating Profit and Balance Sheet

According to akta.pro [company records](https://akta.pro/company-data), ICRA reported full year FY2026 revenue of ₹599.5 crore, up 20.4% from the previous year, and PAT of ₹182.53 crore, up 6.62% year-on-year. The same records show a final dividend of ₹105 per share, including a ₹35 special dividend for the 35th year of operations. In FY2026, Tanfac reported operating income of ₹711.1 crore and PAT of ₹70.1 crore, and for Q1 FY2027 operating income stood at ₹187.2 crore with PAT of ₹16.8 crore and an operating margin of 15.3%.

## Tanfac's Dividend and Preferential Issue

Tanfac approved a final dividend of ₹4.50 per share for FY26 at its AGM on September 23, 2026, where the meeting also adopted audited financial statements and reappointed statutory auditors for five years, [ScanX](https://akta.pro/news-signals) reported. On September 1, 2026, Tanfac received in-principle approval from BSE for a preferential issue of 4,24,647 equity shares at ₹2,341 per share, totaling approximately ₹9.94 crore, according to ScanX.

## What Comes Next for Tanfac

ICRA said the R-32 facility's commissioning is targeted for Q3 FY2027, with a gradual commercial ramp-up through February 2028. The company has zero term debt repayment obligations in FY2027.

## Companies in this story

- [ICRA company profile](https://akta.pro/company-profiles/0005wn1/icra) · website: https://www.icra.in/Home/Index
- [Tanfac Industries company profile](https://akta.pro/company-profiles/0006db7/tanfac-industries) · website: https://www.tanfac.com

---
News for Agent · https://newsforagent.com/llms.txt