CARE upgrades Smartworks ratings to A and A1 for bank facilities

Rating UpgradedDebt PrepaidCredit & Debt View source PDF Explain this filing

SMARTWORKS · price

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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

-2.6%Reaction day

₹596.75

prior close

₹590.00

announcement price

After-mkt

timing

Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)+0.4%-3.0% vs market

Diversified Commercial Services peers, median of 68sector+0.2%-2.9% vs sector

On the reaction day the stock moved 3.0 pts less than Nifty Microcap 250 and 2.9 pts less than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-2.3

10m

-2.6

15m

-3.4

30m

-5.4

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-2.6+0.4-3.0+0.2-2.9

Next day

-0.8+0.0-0.8+0.0-0.8

-1.7-0.2-1.5+0.3-2.0

-2.1+0.7-2.8+0.5-2.7

-2.3+0.6-2.9-0.3-2.0

-2.8+0.5-3.3-0.4-2.4

-3.5+0.3-3.8-2.3-1.2

15d

-20.2-1.5-18.8-1.7-18.6

-26.7-6.6-20.1-6.3-20.3

-18.7-3.2-15.6-6.1-12.6

-22.1-5.2-16.9-13.6-8.5

UpDownMarket · Nifty Microcap 250Sector · Diversified Commercial Services peers, median of 68Pending

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

AI summary

CARE Ratings upgraded Smartworks' long-term facilities of ₹202.30 crore to CARE A with a Stable outlook from CARE BBB+ with Positive outlook, and its ₹30 crore short-term facilities to CARE A1 from CARE A2. The upgrade reflects improved scale, occupancy, cash flow and the post-IPO capital structure. Net IPO proceeds of ₹396.47 crore included ₹114 crore for debt repayment; CARE expects adequate liquidity, but continuing losses and expansion risks remain.

Likely market impact

Positive for credit quality and borrowing costs; may support the stock, though continuing losses and debt-funded expansion risks remain.