RPG Life Sciences has appointed Rajat Bhargava (DIN:07752438) as an Additional and Non-ExecutiveDirector of the Company with effect from 25 January 2021 subject to approval of theshareholders at the General Meeting of the Company.

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RPG Life Sciences will hold a meeting of the Board of Directors of the Company on 25 January 2021.

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ICRA has upgraded the long-term loans and long-term fund-based facilities of the company to '[ICRA] A (Stable)' from '[ICRA] A- (Stable)'. It has also upgraded the short-term, non-fund-based facilities of the company to '[ICRA] A1' from '[ICRA] A2+'.

The rating upgrade factors in the considerable improvement in the operating performance of RPG Life Sciences (RPGLS or the company) on the back of improvement in its sales hygiene and cost rationalisation measures adopted by the company over FY2020 and H1 FY2021,” the credit ratings agency said in a statement.

It further said that the rating continues to factor in RPGLS' strong brands in the Indian pharmaceutical industry, its diversified and integrated operations with presence in regulated markets, and financial flexibility arising from being part of the RPG Group.

The 'stable' outlook reflects ICRA's opinion that RPGLS will continue to benefit from its established products in the domestic and international formulations businesses along with its strong financial risk profile and financial flexibility enjoyed as part of the RPG Group.

RPG Life Sciences, a part of the RPG Group, is an integrated pharmaceutical company operating in the domestic and international markets in the branded formulations, global generics and APIs space.

On a year-to-date (YTD) basis, the stock has added 21.76% while the benchmark S&P BSE Sensex has added 13.43% during the same period.

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RPG Life Sciences announced that ICRA has upgraded the credit ratings of the company as under:

Long term loans - ICRA A; Stable (upgraded)
Long term, fund based facilities - ICRA A; Stable (upgraded)
Short term, non-fund based facilities - ICRA A1 (upgraded)

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