CRISIL keeps ratings on Watch Negative; revises Rs 200 crore Axis loan

Rating Watch NegativeCredit & Debt View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

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prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.6%+0.7% vs market

Logistics Solution Provider peers, median of 39sector+0.6%+0.7% vs sector

On the reaction day the stock moved 0.7 pts more than Nifty Microcap 250 and 0.7 pts more than its Logistics Solution Provider peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Logistics Solution Provider peers, median of 39Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

CRISIL Ratings continued AA-/Watch Negative on Rs 875 crore of bank facilities and A1+/Watch Negative on short-term facilities. It revised the Rs 200 crore Axis Bank term loan from Watch with Developing Implications to Watch Negative. The Rs 150 crore non-convertible debenture rating was withdrawn at the company's request. The negative view reflects muted supply-chain performance and the planned company split.

Likely market impact

The rating grade was not cut, but Watch Negative raises borrowing and share sentiment risk; strong liquidity and planned debt repayments offer support.