Update on Press Release of CARE Rating Limited
GRAUWEIL · price
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Awaiting price reaction for this filing.
CARE Ratings has reaffirmed its credit ratings on Grauer & Weil's bank facilities and simultaneously removed them from Rating Watch with Developing Implications. The long-term rating of CARE AA- now carries a Stable outlook, and the short-term rating of CARE A1+ has been retained. The total rated facility size stands at Rs. 185 crore — long-term limits were enhanced from Rs. 85 crore to Rs. 140 crore, while short-term limits were trimmed from Rs. 60 crore to Rs. 45 crore. The review was based on the company's FY25 audited results and 9MFY26 provisional numbers, with the rating committee also factoring in clarity around the financial impact of closing mall operations.
This is a positive development for shareholders — exiting the rating watch and settling into a Stable outlook signals that earlier uncertainties (likely linked to the mall shutdown) have been resolved, and the company retains a strong investment-grade credit profile. The Rs. 55 crore increase in long-term funding capacity also reflects continued banker confidence in the chemicals and engineering businesses that form the company's core.