CARE Ratings Reaffirms 'BBB (Is)' Rating for Bajeko Sekuwa Ahead of IPO
Summary
CARE Ratings Nepal has reaffirmed Bajeko Sekuwa Limited’s ‘CARE-NP BBB (Is)’ issuer rating ahead of its planned IPO, citing moderate credit risk and a moderate degree of safety for timely debt servicing. The company reported Rs. 45.5 crore in operating income in FY26 and continues to expand its franchise network in Nepal and abroad.
Key Points
- CARE Ratings Nepal reaffirmed Bajeko Sekuwa Limited’s ‘CARE-NP BBB (Is)’ issuer rating, citing moderate credit risk and safety in debt servicing.
- BSL operates 26 outlets in Nepal and 6 international franchise outlets, backed by a four-decade brand presence.
- In FY26 (unaudited), the company reported operating income of Rs. 45.5 crore, a PBILDT margin of 17.95% and interest coverage of 7.09 times.
- Bajeko Sekuwa is preparing for a proposed IPO to support its next phase of expansion.
