CRISIL downgrades RPP Infra ratings to BBB/Stable and A3+
RPPINFRA · price
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CRISIL downgraded RPP Infra Projects long-term rating to BBB/Stable from BBB+/Stable, and short-term to A3+ from A2, on bank loan facilities of Rs 642 Crore (enhanced from Rs 557 Crore). Downgrade reflects EBITDA margin falling sharply to about 2.2% in FY26 from 7.5-8.5% in prior years, with interest coverage dropping to about 1.7x from 5.5-6.5x, due to higher project execution costs and delays in receiving escalation claims. Order book stands healthy at over Rs 3,700 Crore across 42 projects.
Negative signal for shareholders. Reflects weaker operating performance, may lead to higher borrowing costs. Stock could see short-term pressure.