For the first time, Ramdev's Patanjali gets a rating upgrade

A first for Haridwar-based entity and within a year from ICRA

For the first time, Patanjali Ayurved, co-founded by yoga guru Ramdev and his deputy, Balkrishna, has got a rating upgrade.

ICRA has revised its long-term rating upgrade for the company from the earlier 'A-' to one of 'A+', for Rs 300 crore of fund-based facilities. And, upgraded the short-term ratingy from A2+ to A1 for Rs 20 crore of non-fund based facilities.

This indicates growing confidence in Patanjali's financial health. The facilities in question pertain to loans the company has taken for expansion and working capital. The upgrade, said ICRA, takes into account the "robust internal accrual generation, leading to low reliance