Intimation regarding migration and withdrawal of credit ratings by Crisil
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Awaiting price reaction for this filing.
CRISIL has migrated Samrat Forgings' bank facility ratings from 'Crisil BB/Stable/Crisil A4+ Issuer Not Cooperating' to 'Crisil BB/Stable/Crisil A4+' and subsequently withdrawn the ratings at the company's request and after receiving a no-objection certificate from its banker. Total bank facilities rated were Rs. 43.25 crore, with Jammu & Kashmir Bank as the sole lender across cash credit, term loan, letter of credit, bank guarantee and bill discounting. CRISIL noted that the company has resumed sharing information, but also flagged stretched liquidity with bank limits utilised around 95% and a current ratio below 1 (0.99x). Revenue grew to Rs. 191 crore in FY25 from Rs. 162 crore in FY24, with profit after tax rising to Rs. 5.10 crore from Rs. 2.97 crore.
This is primarily a procedural filing — the company voluntarily asked CRISIL to withdraw ratings after resuming information sharing, not a signal of distress. However, the absence of an active external credit rating reduces transparency for investors and lenders monitoring the stock.