CARE Ratings reaffirms RCF commercial paper rating at A1+

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RCF · price

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▲ 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

-1.6%Reaction day

₹109.10

prior close

₹107.37

announcement price

In-mkt

timing

Nifty Microcap 250market-0.2%-1.3% vs market

Fertilizers peers, median of 20sector-0.9%-0.6% vs sector

On the reaction day the stock moved 1.3 pts less than Nifty Microcap 250 and 0.6 pts less than its Fertilizers 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

+0.1

10m

+0.3

15m

+0.2

30m

+0.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.6-0.2-1.3-0.9-0.6

Next day

-5.3-3.0-2.3-3.4-2.0

-4.1-2.7-1.3-3.3-0.8

-4.5-1.9-2.6-4.0-0.5

-3.7-1.7-2.0-3.5-0.3

-3.5-1.0-2.5-2.6-0.8

-4.1-2.0-2.1-2.5-1.6

15d

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UpDownMarket · Nifty Microcap 250Sector · Fertilizers peers, median of 20Pending

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

AI summary

CARE Ratings has reaffirmed the CARE A1+ rating (highest short-term grade) on Rashtriya Chemicals and Fertilizers' (RCF) commercial paper worth Rs 3,000 crore. Strengths noted: 75% Government of India equity stake, leading position in domestic urea with around 7% market share, and improved FY26 performance with revenue up 9.4% to Rs 18,406 crore and profit after tax of Rs 427 crore. Concerns include large debt-funded capex plans, subsidy payment delays, and an energy norm revision that adversely impacted about Rs 172 crore.

Likely market impact

Positive signal confirming strong short-term credit quality. Large debt-funded capex and subsidy delays remain key monitorables for shareholders.