Spandana Sphoorty Financial Limited has informed the Exchange about Credit Rating
SPANDANA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.7 pts more than Nifty Microcap 250 and 0.5 pts more than its Finance peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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CARE Ratings has downgraded Spandana Sphoorty Financial's credit ratings on all its existing instruments. Long-term bank facilities of ₹800 crore and non-convertible debentures worth ₹700 crore have been cut from CARE A- (Stable) to CARE BBB+ (Stable). The commercial paper rating of ₹100 crore was downgraded from CARE A2+ to CARE A2. The downgrade reflects weaker-than-expected profitability, with a net loss of ₹360 crore in Q1 FY2026, elevated stage 2 and stage 3 assets at 13.4%, ₹642 crore in loan write-offs, and a 27% drop in business scale. The company is also in breach of financial covenants on ₹432 crore of borrowings, though it has received waivers on most of them. Positively, the company has adequate capital (CRAR of 40.8%) and liquidity of ₹1,731 crore, and recently raised ₹200 crore via a rights issue.
Negative for shareholders — the downgrade signals rising credit risk, may push up future borrowing costs, and could weigh on the stock price in the short term. However, the Stable outlook and strong capital base provide some cushion.