Crisil Ltd has downgraded its rating to "CrisilBB+/Negative/CrisilA4+"

Credit rating downgradedCredit rating at junk gradeCredit & Debt View source PDF Explain this filing

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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

+6.1%Reaction day

₹245.00

prior close

₹260.00

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.6%+6.7% vs market

Pharmaceuticals peers, median of 154sector-0.2%+6.4% vs sector

On the reaction day the stock moved 6.7 pts more than Nifty Microcap 250 and 6.4 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

+6.1-0.6+6.7-0.2+6.4

Next day

+6.9-1.1+8.0-0.7+7.6

+2.9-1.6+4.5-0.9+3.7

+4.9-2.7+7.6-1.0+5.9

+2.0-5.0+7.0-3.1+5.2

+2.0-3.1+5.2-2.3+4.4

+1.1-3.3+4.4-2.3+3.4

15d

-5.7-1.8-3.9-1.1-4.6

-3.9-1.2-2.7-0.7-3.2

-16.1-9.0-7.1-7.6-8.5

-17.5-9.7-7.8-10.1-7.5

UpDownMarket · Nifty Microcap 250Sector · Pharmaceuticals peers, median of 154Pending

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

AI summary

Crisil has downgraded Samrat Pharmachem's credit ratings on its Rs 30 crore bank facilities from 'Crisil BBB-/Stable' (long-term) and 'Crisil A3' (short-term) to 'Crisil BB+/Negative' and 'Crisil A4+' respectively. The downgrade was driven by a sharp deterioration in the company's business risk profile, with operating margin turning negative at -0.14% in the first half of FY2026, reflecting pressure from volatile iodine raw material prices and forex fluctuations. The downgrade pushes the company from investment-grade into speculative-grade territory. Despite weak profitability, the balance sheet remains healthy with low gearing of 0.14 times and networth of Rs 71.8 crore as of March 31, 2025. The company, a 30-year iodine derivatives manufacturer serving pharma, FMCG, animal feed, and agrochemicals, posted revenue of Rs 285.86 crore in FY25 but with thin margins.

Likely market impact

Negative for shareholders — the stock has slipped below investment grade, which could raise future borrowing costs and signal further earnings pressure. The 'Negative' outlook means more downgrades are possible if margins do not recover quickly.