Wockhardt announced that ICRA (ICRA) has assigned a long-term rating of [ICRA]BBB- (Stable) and short-term rating of [ICRA]A3 for the Company, [ICRA]BBB-(Stable) for Long term - Fund Based - Term Loan of Rs.75 crore, [ICRA]BBB-(Stable) /[ICRA]A3 for Long term/ Short term - Fund Based Working Capital limits of Rs.512.80 crore, Long term/ Short term - Non Fund Based limits of Rs.171.20 crore, and Long term/ Short term - Unallocated Limits of Rs.326 crore with �Stable� outlook. This is an Investment Grade Rating. While assigning this rating, ICRA has factored overall improvement in company`s liquidity position post successful fund raising through Qualified Institutional Placement of Equity Shares, Reduction in long term external debt, established track records and healthy market position in various regulated markets and satisfactory progress of the NCE Program. Powered by Capital Market - Live News

Wockhardt will hold a meeting of the Board of Directors of the Company on 26 March 2024.Powered by Capital Market - Live News

Wockhardt will hold a meeting of the Board of Directors of the Company on 14 February 2024.Powered by Capital Market - Live News

Net Loss of Wockhardt reported to Rs 77.00 crore in the quarter ended September 2023 as against net loss of Rs 189.00 crore during the previous quarter ended September 2022. Sales rose 10.90% to Rs 753.00 crore in the quarter ended September 2023 as against Rs 679.00 crore during the previous quarter ended September 2022. ParticularsQuarter Ended�Sep. 2023Sep. 2022% Var. Sales753.00679.00 11 OPM %9.566.33 - PBDT20.0030.00 -33 PBT-35.00-35.00 0 NP-77.00-189.00 59 Powered by Capital Market - Live News

Wockhardt announced that CARE Ratings has revised its rating to CARE BB+ for the Company, CARE A4+ for Non Fund Based limits of Rs.171.20 crore, CARE BB+ for Working Capital bank facilities of Rs.512.75 crore, and CARE BB+ for Non-Convertible Debentures of Rs.179 crore (reduced from Rs.250 crore) with outlook �Negative�.The last rating action by CARE Ratings was on 6 June 23, based on financial performance for FY23. Since then, there has been no adverse development. The monetisation of US assets is well on track. The Company has further reduced the debt by Rs.100 crore during June 2023. The rating acknowledges the adequate liquidity position maintained by the Company and also specifically states that the Company would be able to meet all its obligations in FY24. The rating action does not reflect the above factors.The ratings were revised by the CARE Ratings inter alia, due to financial performance in FY23 which factored one time write-off due to US restructuring, delay in monetisation of assets post re-structuring of US business.Powered by Capital Market - Live News