Key Metrics of Friends Earth Movers
About Friends Earth Movers
Company details
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
WatchLiquidity assessed as Stretched
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 19 Oct 2026 | ICRA | Assigned | B+ | A4 | Stable | ₹32.5 Cr | View |
Credit strengths (ICRA, Oct 2026)
+ Significant experience of promoters in the construction and services sectors
The promoters started the business in 2002 and it is currently managed by the proprietor, Mr.
+ Reputed client profile
FEM performs works and services contracts mainly for reputed industrial and public -sector customer, Indian Oil Corporation Limited with around 65% revenue contribution in FY2026 .
Credit challenges
− Modest financial profile with high annual debt repayment and low net worth
FEM's financial risk profile remains constrained by its modest net worth base, which limits its financial flexibility and ability to support large-scale business expansion.
− Moderate scale and order book position
FEM remains a mid-sized player, as reflected in its moderate provisional operating income of around Rs. 100 crore in FY2026.
− Risks related to proprietorship firm structure
FEM is exposed to risks associated with its proprietorship structure, including the risk of capital withdrawals by the proprietor.
Could lead to an upgrade
The ratings of FEM may be upgraded in case of an improvement in earnings, strengthening its net worth, credit metrics and
Could lead to a downgrade
Pressure on the ratings could arise if the firm’s earnings decline significantly, leading to a deterioration in its debt protection metrics on a sustained basis. Further, any significant stretch in the working capital cycle or large debt- funded capex, or any large capital withdrawal resulting in a further deterioration in the firm’s
Agency-reported financials (ICRA, 19 Oct 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income (OI) | ₹69.20 Cr | ₹101 Cr |
| PAT | ₹1.90 Cr | ₹8.00 Cr |
| OPBDIT/OI | 5.3% | 13.3% |
| PAT/OI | 2.7% | 8.0% |
| Total outside liabilities/Tangible net worth (times) | 6.40× | 6.10× |
| Total debt/OPBDIT (times) | 7.40× | 4.20× |
| Interest coverage (times) | 1.70× | 3.30× |
| Revenue growth (YoY) | — | 45.4% |
| EBITDA (margin × income) | ₹3.67 Cr | ₹13.38 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹27.16 Cr | ₹56.20 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹2.16 Cr | ₹4.05 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long term – Fund-based – Working capital facilities | Working capital & bank lines | — | ₹18.0 Cr | — | B+ (Stable) | Assigned | ICRA |
| Short term – Non-fund based – Bank guarantee | Non-fund based limits | — | ₹14.5 Cr | — | A4 | Assigned | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 37% |
| Information on file | 33% · missing: Annual results history (3+ years), Liquidity position, Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 33% chance the next rating action is stable or better
- Current rating B+ (below investment grade)
- Interest coverage 3.3×
Rated limits by facility
Timeline
From the report
Its liquidity is further constrained by high utilisation of its sanctioned working capital limits of Rs. 18 crore during the 12-month period ending in June 2026, indicating limited financial flexibility to meet incremental funding requirements.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.