Announcement under Regulation 30 of SEBI (LODR), 2015.
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CARE Ratings has downgraded Sayaji Industries' credit ratings across all instruments following a review of the company's operational and financial performance for H1FY26 (unaudited). The Fixed Deposit programme of Rs. 40 crore (Rs. 31.42 crore outstanding) was cut from CARE BBB-; Negative to CARE BB+; Negative. Long-term bank facilities of Rs. 58.80 crore (reduced from Rs. 67.86 crore) were also moved from BBB- to BB+ with a Negative outlook. The combined long-term/short-term bank facilities of Rs. 135 crore (enhanced from Rs. 100 crore) were downgraded from BBB-/A3 to BB+/A4+. Short-term bank facilities of Rs. 23.50 crore slipped from A3 to A4+. The Negative outlook on long-term ratings signals continued pressure on the company's credit profile.
The downgrade moves Sayaji Industries' long-term rating from investment grade (BBB-) into speculative grade (BB+), which could raise borrowing costs and make it harder to raise new funds. Shareholders should expect negative sentiment around the stock, and fixed deposit holders face higher credit risk on the company's Rs. 31.42 crore outstanding deposit programme.