Varroc, an Indian company, has received an upgrade to IND AA stable from India Ratings for its long-term rating, indicating improved creditworthiness. Meanwhile, the short-term rating remains at IND A1, and the NCD rating has been withdrawn following a repayment.

Varroc Engineering successfully repaid ₹250 crore in NCDs (Non-Convertible Debentures) ahead of schedule on March 6, 2026. This early redemption was made possible due to an asset coverage over 1.1 times the obligation associated with the NCDs.