Natural Capsules Limited — Credit Ratings, 13-08-2025: Credit Rating

Natural Capsules' credit ratings for its long-term facilities (Rs. 57.50 Cr) were downgraded to [ICRA]BB+(Stable) from [ICRA]BBB-(Stable), and short-term facilities (Rs. 5.30 Cr) were lowered to [ICRA]A4+ from [ICRA]A3. The outlook remains stable. ICRA Limited took this action primarily due to the subdued performance of a subsidiary company, impacting the overall financial health. This downgrade will likely lead to an increased cost of borrowing for the company and could temper investor confidence, potentially limiting strategic flexibility in financing future operations. The total rated facilities stand at Rs. 62.80 crore.