Crest Ventures Limited has informed the Exchange regarding 'Update on Credit Rating(s)'.
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Awaiting price reaction for this filing.
CARE Ratings has reaffirmed Crest Ventures Limited's issuer rating and its long-term non-convertible debenture rating (₹100 crore, ISIN: INE559D08024) at CARE BBB with a Stable outlook. Separately, the rating on another NCD tranche (₹100 crore, ISIN: INE559D08016) has been withdrawn because those debentures were fully redeemed on June 15, 2024, with no outstanding balance. The rationale cites adequate capitalisation (Capital Adequacy Ratio of 86.54%), low gearing (0.16x as of Sept 2024), strong promoter experience, and a healthy liquidity buffer. Concerns remain around high exposure to real estate, reliance on unsecured inter-corporate deposits (ICDs) to group companies, and moderate profitability.
Neutral to mildly positive for shareholders — the rating reaffirmation signals stable financial health, while the full redemption of one NCD tranche reduces outstanding debt obligations and reflects disciplined liability management. No rating action risk is flagged in the near term.