Sagar Cements Limited has informed the Exchange about Credit Rating- Revision

Rating DowngradedRating Watch NegativeCredit & Debt View source PDF Explain this filing

SAGCEM · 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

+3.3%Reaction day

₹205.05

prior close

₹201.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.1%+3.4% vs market

Cement & Cement Products peers, median of 34sector-0.1%+3.4% vs sector

On the reaction day the stock moved 3.4 pts more than Nifty Microcap 250 and 3.4 pts more than its Cement & Cement Products 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

+1.5

10m

+1.7

15m

+1.5

30m

+2.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+3.3-0.1+3.4-0.1+3.4

Next day

+7.6+4.5+3.1+3.3+4.3

+7.8+6.2+1.6+3.4+4.4

+10.1+7.9+2.2+5.5+4.7

+10.7+9.0+1.7+6.6+4.1

+12.2+9.9+2.3+7.3+4.9

+10.7+10.0+0.7+8.0+2.7

15d

+17.0+13.1+3.9+5.9+11.1

+11.1+15.5-4.4+8.9+2.3

+19.7+16.8+2.8+10.7+8.9

+10.8+11.3-0.5+14.3-3.5

UpDownMarket · Nifty Microcap 250Sector · Cement & Cement Products peers, median of 34Pending

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

AI summary

India Ratings & Research has downgraded Sagar Cements Limited's long-term rating to 'IND BBB+' from 'IND A' and its short-term rating to 'IND A2' from 'IND A1'. The new ratings carry a Negative Outlook. The revision covers non-convertible debentures (NCDs) of about ₹115.4 million, term loans of around ₹2,059.6 million, fund-based working capital limits of ₹2,220 million, and non-fund-based working capital limits of ₹3,180 million across banks like SBI, HDFC Bank, Axis Bank, Federal Bank, and Tata Capital. The NCD (INE433R07016) carries a coupon of 11.6% and is set to mature on 28 May 2025. A Negative Outlook signals that further downgrade is possible if conditions don't improve.

Likely market impact

Shareholders and debt holders should view this as a negative signal — a one-notch downgrade with a Negative Outlook suggests weakening creditworthiness and could raise future borrowing costs. Near-term, watch for the NCD maturity on 28 May 2025 and any refinancing or liquidity updates from the company.