Hester Biosciences Limited has informed the Exchange about Credit Rating
HESTERBIO · price
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CARE Ratings has downgraded Hester Biosciences' credit ratings on its bank facilities effective 19 March 2026. Long-term bank facilities were cut from 'BBB+; Stable' to 'BBB; Stable', and the combined long-term/short-term rating moved from 'BBB+; Stable / A2' to 'BBB; Stable / A3+'. Short-term facilities were also downgraded from 'A2' to 'A3+'. The total rated facilities stand at Rs. 131.47 crore across term loans, cash credit, and bank guarantees, mostly with State Bank of India. The long-term rated amount was reduced from Rs. 95.18 crore to Rs. 66.25 crore, reflecting lower outstanding debt. The company says the downgrade is transitional and points to improving operating margins, net profit margins, ROCE, debt coverage, and recent regulatory approval for its Avian Influenza H9N2 vaccine as reasons performance should recover.
A credit rating downgrade signals higher perceived lending risk, which may push up future borrowing costs for the company. The downgrade is a negative signal in the short term, though the company maintains the outlook is Stable and expects improvement in coming quarters to potentially restore the rating.