Mumbai, March 24 -- The agency has, meanwhile, assigned 'IND A1+' rating at the company's short-term debt facilities.

India Ratings and Research stated that the rating affirmation reflect SFL's strengthened market position in the Indian organised mattress segment, led by a much larger scale of operations in terms of revenue and profitability as well as an improved distribution reach post-acquisition of Kurlon Enterprises Limited (KEL; mattresses manufacturing company).

India Ratings has taken note of the delays in the realisation of synergies at SFL's level post-acquisition of KEL along with a slower run rate observed in revenue as well as EBITDA level than Ind-Ra's expectations.

This had led to elevated credit metrics during 9M FY25, ...