Credit rating downgraded to BBB+ from A-, stays on negative watch
SIGACHI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.4 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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CARE Ratings downgraded Sigachi's long-term bank facility rating from A- to BBB+ and short-term from A2 to A3+, while keeping it on Rating Watch with Negative Implications. A new BBB+ rating was also assigned to Rs 125 crore NCDs. The downgrade follows the June 2025 fire at the Hyderabad plant that destroyed 30% of capacity, caused 54 deaths, and led to a Rs 90.44 crore net loss in H1FY26.
Downgrade signals higher risk; negative watch means more cuts possible if recovery and insurance claims are delayed.