Short-term rating downgraded as long-term outlook turns negative
CHEMPLASTS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.3 pts less than Nifty Microcap 250 and 1.5 pts less than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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CRISIL reaffirmed Chemplast Sanmar's long-term bank rating at A+ but moved the outlook from Stable to Negative. Its short-term rating fell from A1+ to A1. The subsidiary Chemplast Cuddalore Vinyls received the same changes. Rated bank facilities increased from Rs 1,801 crore to Rs 2,001 crore for Chemplast Sanmar and stayed at Rs 2,550 crore for the subsidiary. CRISIL cited weak PVC realisations, lower profit and ongoing expansion spending.
The negative outlook and lower short-term rating point to weaker near-term earnings and higher financing risk, which may pressure the share price.