Please find enclosed the credit Rating Intimation of Narbada Gems & Jewellery Limited
Awaiting price reaction for this filing.
Narbada Gems and Jewellery has disclosed a new credit rating from ICRA for its bank facilities. The long-term rating stands at ICRA BBB- with a 'Rating Watch with Developing Implications,' while the short-term rating is ICRA A3. The previous rating from CRISIL was BB+/Stable (reaffirmed). The rating has been freshly 'Assigned' by ICRA, replacing CRISIL as the rating agency. The 'Developing' watch status means the rating direction is uncertain and could move up or down based on future events. The document was signed by Managing Director Sanjay Kumar Sanghi on July 17, 2025.
Both the previous CRISIL BB+ and the new ICRA BBB- fall in the non-investment grade (speculative) category, signalling continued credit risk for lenders. Investors should note that the 'Rating Watch with Developing Implications' leaves the outlook ambiguous and watch for further updates from the company.