Indo Farm Equipment Ltd announced ratings upgrades and reductions across several instruments from Infomerics Valuation and Rating Private Limited (IVR) and Infomerics. IVR upgraded the ratings for Long Term Bank facilities to IVR A/Stable, Short Term Bank facilities to IVR A1, and the Long Term and Short Term ratings to IVR A/Stable and IVR A1 respectively. The corporate guarantee to BFL was reduced from Rs. 125 crore to Rs. 75 crore for FY2027, alongside a reduction in Total Debt from Rs. 95.34 crore in FY2025 to Rs. 84.94 crore in FY2026, accompanied by improvements in the Interest Service Coverage Ratio (ISCR) to 4.76x and Debt Service Coverage Ratio (DSCR) to 2.06x. Additionally, a Term Loan instrument was withdrawn by IVR, with a No Due Certificate in place, while Infomerics noted a contraction in EBITDA and PAT margins and a weakening of the operating cycle.