Asian Granito India Limited has informed the Exchange about Credit Rating
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Awaiting price reaction for this filing.
Infomerics Valuation and Rating has reaffirmed Asian Granito India's credit rating on its bank facilities of Rs. 155 crore but placed it on 'Rating Watch with Developing Implications' (RWDI). The long-term rating stays at IVR BBB+ (was earlier Stable outlook) on Rs. 145 crore of long-term facilities, and the short-term rating remains IVR A2 on Rs. 10 crore of short-term facilities. The trigger for the watch is the NCLT's approval of the composite scheme of arrangement merging Asian Granito with Adicon Ceramica Tiles Private Limited and Adicon Ceramics Limited. The rating remains valid until May 29, 2026, subject to ongoing surveillance. The company will need to share quarterly performance data and a monthly no-default statement with Infomerics.
The rating itself was not cut, so borrowing cost impact is limited for now. However, the 'watch with developing implications' flag introduces uncertainty — the rating could move up or down depending on how the merger with the Adicon entities plays out, which shareholders should track closely.