25-Aug-2026Today's Market Indicators


India Ratings downgrades Shree Renuka Sugars' instruments amid declining financials and increased leverage
(15:07, 25 Aug 2026)
Shree Renuka Sugars Ltd announced that India Ratings and Research has downgraded its ratings on the company's instruments, specifically the Non-convertible debentures carrying an amount of N/A, to IND A- /Negative from INDA/Negative, and the Bank loan facilities also carrying an amount of N/A, to IND A- /Negative from IND A2+/INDA/Negative/IND A1; the agency’s notes indicate a downgrade action for both instruments. The company’s financials reveal a significant shift with FY26 revenue at INR 91.7 billion compared to INR 109.1 billion in FY25, EBITDA (pre-forex) declining from INR 6.8 billion to INR 2.6 billion, EBITDA falling from INR 6.4 billion to INR 1.3 billion, EBITDA margin decreasing from 5.9% to 1.4%, interest coverage (extended debt) dropping from 1.8 to 0.3, and net leverage (extended debt) increasing substantially from 7 to 44.4; no rating data was provided by India Ratings, and placeholder instruments were not rated.