Banswara Syntex Limited has informed the Exchange about Credit Rating
BANSWRAS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.4 pts more than Nifty Microcap 250 and 0.2 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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India Ratings and Research (Ind-Ra) has affirmed Banswara Syntex's credit rating at IND A for bank loan facilities of about INR 8,004 million and fixed deposits of INR 300 million (reduced from INR 400 million), while maintaining a Negative outlook on all instruments. A new bank loan facility of INR 513.2 million was also assigned IND A rating. The Negative outlook reflects stretched credit metrics, with net adjusted leverage rising to 5.31x in 1HFY26 (from 4.75x in FY25) due to ongoing debt-funded modernisation capex of around INR 4,700 million and weaker-than-expected 1HFY26 operational performance. Ind-Ra expects credit metrics to improve from 2HFY26 onwards, supported by recovery in EBITDA (which dipped to 7.51% in 1HFY26), higher value-added garment contribution, and cost benefits from the capex.
The continued Negative outlook signals lingering financial stress and elevated leverage, which may weigh on investor sentiment. However, the rating itself was affirmed (not downgraded), and the agency sees room for recovery in the second half of FY26, offering some medium-term comfort for shareholders.