Hma Agro Industries Limited has informed the Exchange about Credit Rating- Others(Withdrwal of Credit Rating which was assigned by CRISIL Ratings Limited)
HMAAGRO · price
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Awaiting price reaction for this filing.
CRISIL Ratings has withdrawn the credit rating on HMA Agro Industries' Rs. 500 crore bank loan facilities at the company's request. Before withdrawing, CRISIL sharply downgraded the rating from 'Crisil A-/Negative' to 'Crisil BB+/Stable' and tagged it 'Issuer Not Cooperating', citing lack of management response to information requests. The company disputes the INC tag and says it had formally requested the withdrawal back in April 2025, and that all obligations to the rating agency were met. HMA Agro is a frozen buffalo meat exporter (FY25 revenue ~Rs. 4,941 crore, PAT fell sharply to Rs. 60.1 crore from Rs. 110 crore the previous year, with interest coverage dropping from 15.6x to 5.5x).
This is a serious negative signal for shareholders. The rating fell from investment grade (A-) to speculative/junk grade (BB+), and the 'Issuer Not Cooperating' tag suggests transparency concerns. Combined with sharply falling profits and weakening debt metrics, this could increase the company's future borrowing costs and dent investor confidence in the stock.