BALAXI PHARMACEUTICALS LIMITED has informed the Exchange about Credit Rating- Revision
BALAXI · price
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CRISIL Ratings has downgraded Balaxi Pharmaceuticals' long-term bank facilities rating to 'Crisil BBB/Stable' from 'Crisil BBB+/Negative'. The outlook was revised from 'Negative' to 'Stable'. The downgrade reflects continuing pressure on profitability due to the company's shift from retail to institutional sales, requiring higher marketing and promotional expenditure. Operating margin is expected to drop to 5% in fiscal 2026 from 12% in fiscal 2025. Despite the rating action, the company maintains a healthy financial profile with networth of Rs 204.9 crore, gearing of 0.25 times, and moderate bank limit utilization of 83%. Revenue for fiscal 2025 was Rs 294 crore, similar to expected levels for fiscal 2026.
The rating downgrade signals increased credit risk due to profitability pressures from the business model transition. However, the revised stable outlook suggests the company may stabilize. Shareholders should monitor the company's ability to improve operating margins while managing working capital requirements in the new institutional sales segment.