Shalby Limited — Credit Ratings, 06-06-2025: Credit Rating- Others

ICRA Limited has reaffirmed Shalby Limited’s credit rating at ICRA A+ but revised the outlook to Negative from Stable. Despite stable credit metrics for fund and non-fund based facilities totaling Rs. 534 crore, concerns about potential pressure on the company’s financial profile have increased. This shift indicates a higher risk perception, likely resulting in tighter borrowing conditions or increased cost of funds. Consequently, investors and lenders may become more cautious, which could affect Shalby’s financial flexibility and borrowing plans in the near future.