ICRA upgrades Indogulf debt rating and removes non-cooperation tag

Rating UpgradedDebt PrepaidCredit & Debt View source PDF Explain this filing

IGCL · price

Loading chart…

▲ 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

-1.5%Reaction day

₹106.21

prior close

₹107.45

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.2%-1.3% vs market

Pesticides & Agrochemicals peers, median of 26sector-0.2%-1.3% vs sector

On the reaction day the stock moved 1.3 pts less than Nifty Microcap 250 and 1.3 pts less than its Pesticides & Agrochemicals 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

-0.3

10m

-0.2

15m

-0.4

30m

-0.9

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.5-0.2-1.3-0.2-1.3

Next day

-2.4-0.5-1.8-1.1-1.3

-2.4+0.5-2.9-1.5-0.9

-3.3-0.2-3.0-2.3-1.0

-4.9-1.9-3.0-4.7-0.2

-3.6-1.5-2.0-5.2+1.6

-6.6-2.2-4.5-8.1+1.5

15d

-11.5-3.6-7.9-8.8-2.7

-18.2-3.5-14.7-6.2-12.0

-22.8-7.0-15.7-11.6-11.2

-36.0-11.1-24.9-16.1-19.9

UpDownMarket · Nifty Microcap 250Sector · Pesticides & Agrochemicals peers, median of 26Pending

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

AI summary

ICRA upgraded Indogulf Cropsciences to ICRA A- (Stable) for long-term cash credit and ICRA A1 for short-term letters of credit, from BB+ and A4+ under issuer-not-cooperating status. The company was also removed from that category. Rated amounts rose to Rs 217 crore from Rs 197 crore. ICRA linked the upgrade to a Rs 160 crore initial public offering infusion and repayment of Rs 34 crore term debt.

Likely market impact

The upgrade reduces perceived default risk and may improve funding access. It supports credit standing, though the rating covers debt, not the stock.