TruCap Finance Limited has informed the Exchange with respect to revision in Credit Rating.
TRU · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.1 pts more than Nifty Microcap 250 and 1.5 pts more than its Non Banking Financial Company (NBFC) 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 TruCap Finance's long-term credit rating from CARE BBB- to CARE BB+ (RWD), covering bank facilities of ₹750 crore and non-convertible debentures of ₹150 crore. The downgrade was driven by a weakening liquidity profile and a significant net loss of ₹66.60 crore in FY25, compared to a profit of ₹11.71 crore in FY24, mainly due to elevated credit costs of ₹72.80 crore. Asset quality has also deteriorated, with GNPA rising to 3.70% from 1.32% a year earlier. The rating remains on 'Watch with Developing Implications', pending clarity on the proposed acquisition of ~75% stake by the Marwadi Chandarana Group (MCG) for ₹206.87 crore, along with ₹100 crore in committed debt support from MCG and ₹20 crore from existing promoters.
Negative in the short term — the junk-grade rating signals higher borrowing costs, weaker investor confidence, and stretched liquidity (cash of ₹57 crore against ₹103 crore in debt repayments over three months). However, the MCG acquisition and capital infusion could provide long-term stability if regulatory approvals come through.