Elgi Rubber Company Limited — Credit Ratings, 10-06-2025: Credit Rating- Revision

Infomerics has downgraded ELGI Rubber Company Limited’s long-term bank facilities to IVR BB with a negative outlook and short-term facilities to IVR A4, continuing the issuer under non-cooperation status. The downgrade reflects lack of adequate performance data, resulting in credit risk uncertainty despite the company’s claim of stable operations. Financials reveal a PAT loss in FY2025 and weakened interest coverage at 0.97x, indicating profitability stress. Rated debt stands at Rs. 276.77 Cr. This action may raise borrowing costs and weaken investor confidence, highlighting elevated risk until greater financial transparency is provided.