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Biocon Biologics placed on positive watch as deleveraging accelerates
Biocon Biologics moved to positive watch as S&P cites faster deleveraging and improving debt metrics toward FY26.
S&P Global Ratings placed Biocon Biologics on positive credit watch after the company advanced its deleveraging efforts. Adjusted debt is projected to decline to about ₹12,000 crore by March 2026, improving the balance sheet profile. The agency noted reduced refinancing pressures and better cash flow visibility, with the final outlook dependent on execution progress and continued reduction in leverage over coming quarters.