CRISIL upgrades long-term rating of InCred Finance to ‘CRISIL AA-/Stable’ from earlier ‘CRISIL A+/Stable’
CRISIL has upgraded the long-term rating for InCred Finance to ‘CRISIL AA-/Stable’ from the earlier rating,
which was ‘CRISIL A+/Stable’. The upgrade in ratings reflects strong capitalization of the company supported
by high pedigree of investor base, coupled with steady improvement in earnings profile. The ratings also
factor in InCred’s experienced leadership team and diversified loan portfolio.
The upgrade comes on the back of significant growth reported by the firm, underpinned by a big jump in
profitability with 9M 2024 PBT of Rs. 298 Cr up 132% (YoY Dec’23). InCred Finance’s Loan book grew to Rs.
8,013 Cr as on December 31, 2023, marking an annualized growth of 43% over that as on March 31, 2023
(Rs. 6,062 Cr).
