EID Parry India Limited has informed the Exchange about Credit Rating- Revision
EIDPARRY · price
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Awaiting price reaction for this filing.
Crisil Ratings has downgraded EID Parry India's long-term credit rating on bank facilities worth ₹1,475 crore from 'Crisil AA/Stable' to 'Crisil AA-/Stable'. The short-term rating has been re-affirmed at 'Crisil A1+'. Crisil cited lower-than-expected performance in FY25, continued profitability pressures across the sugar, refinery, and co-generation segments, and elevated debt levels due to higher working capital needs. Some offsetting improvement was noted from the distillery and consumer products businesses. The rating, while reduced, remains firmly in the investment-grade category.
This downgrade may lead to slightly higher borrowing costs for the company going forward and signals near-term financial stress, particularly in core sugar operations. For shareholders, it is a mild negative signal on earnings momentum, though the stable outlook and retained short-term A1+ rating limit immediate concerns.