Dwarikesh Sugar Industries Limited has informed the Exchange about Credit Rating

Credit rating downgradedCredit & Debt View source PDF Explain this filing

DWARKESH · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-2.1%Reaction day

₹44.25

prior close

₹43.41

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.6%-3.7% vs market

Sugar peers, median of 27sector+0.0%-2.1% vs sector

On the reaction day the stock moved 3.7 pts less than Nifty Microcap 250 and 2.1 pts less than its Sugar peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.2

10m

-0.0

15m

-0.3

30m

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Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-2.1+1.6-3.7+0.0-2.1

Next day

-1.2+2.3-3.5-0.4-0.8

-2.6+2.3-4.8+0.2-2.7

-0.4+1.6-2.0-0.6+0.2

-0.1+0.5-0.6-0.5+0.4

-0.1+1.6-1.7-0.4+0.3

-1.0+2.7-3.7-2.1+1.1

15d

+1.7+5.4-3.7+0.3+1.4

-3.9+7.3-11.2-3.2-0.8

-4.0+8.6-12.5-2.8-1.2

+21.6+13.0+8.6+17.9+3.7

UpDownMarket · Nifty Microcap 250Sector · Sugar peers, median of 27Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

ICRA has downgraded Dwarikesh Sugar Industries' credit ratings effective May 25, 2026. The long-term rating for bank facilities worth Rs. 600 crore was cut from [ICRA]AA- to [ICRA]A+, with the outlook changed to Stable from Negative. The short-term rating for a Rs. 300 crore commercial paper programme was lowered from [ICRA]A1+ to [ICRA]A1. The downgrade applies to multiple bank facilities including cash credit (Rs. 450 crore), term loans (Rs. 92.80 crore), and non-fund based limits. The rating action was taken following Q4FY2026/FY2026 results review by ICRA's Rating Committee.

Likely market impact

The downgrade signals deteriorating creditworthiness and higher borrowing costs ahead. While the company remains investment grade, the two-notch downgrade for long-term debt suggests elevated financial stress, which could pressure margins and investor sentiment in the near term.