Chemfab Alkalis Limited has informed the Exchange about Credit Rating

India Ratings has downgraded Chemfab Alkalis' long-term bank loan rating to IND BBB+ from IND A-, and its short-term rating to IND A2 from IND A2+, both with a Negative Outlook. The downgrade covers INR 1,673 million of existing bank loan facilities, while a fresh INR 27 million facility was assigned at the new rating level. The action is driven by a 38% YoY fall in consolidated EBITDA for 9MFY26, weakening credit metrics with net leverage rising sharply to 3.6x (from 1.4x in FY25), and stretched liquidity with cash balances nearly depleted at INR 0.3 million. Key concerns include underperformance in the Jal Jeevan Mission pipe business, falling caustic soda prices, and operational issues from a 30-year-old electrolyser that has since been replaced. The Negative Outlook suggests further downgrade risk if liquidity or profitability does not improve.