Attached herewith Credit Rating Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CARE Ratings has downgraded Sayaji Industries' credit ratings across all its instruments based on weak H1FY26 (unaudited) operational and financial performance. The Fixed Deposit programme (Rs. 40 crore) was cut from CARE BBB-; Negative to CARE BB+; Negative. Long-term bank facilities (Rs. 58.80 crore, reduced from Rs. 67.86 crore) were similarly downgraded from BBB- to BB+ with a Negative outlook. Long-term/short-term bank facilities (Rs. 135 crore, enhanced from Rs. 100 crore) moved from BBB-/A3 to BB+/A4+. Short-term bank facilities (Rs. 23.50 crore) dropped from A3 to A4+. Total rated facilities stand at Rs. 217.30 crore, with the company now in speculative-grade (junk) territory and a Negative outlook retained, signalling risk of further downgrade.
This is a negative development for shareholders as the downgrade pushes the company from investment grade into speculative grade, likely leading to higher borrowing costs and reflecting concerns about its financial health. The stock may face selling pressure as the Negative outlook suggests CARE could cut ratings further if performance does not improve.