Credit Rating Downgraded from CARE A Minus to CARE BBB Plus; Outlook Revised to Stable

CARE Ratings has downgraded JK Agri Genetics' long-term bank facility rating from CARE A- with Negative outlook to CARE BBB+ with Stable outlook, a one-notch downgrade. The agency cited historical pressure on operating profitability as the reason. However, outlook was revised from Negative to Stable, noting a financial turnaround with EBITDA returning to positive, a completely debt-free balance sheet with net cash, zero term debt, and working capital funded entirely from internal surplus without fresh borrowings. Company remains investment grade.