Exxaro Tiles Limited — Credit Ratings, 19-08-2025: Credit Rating- Revision

CRISIL has downgraded Exxaro Tiles' long-term bank facilities to 'BB+/Stable' and short-term to 'A4+'. This downgrade for Rs. 122 Cr facilities is due to stretched liquidity, high inventory, and prolonged receivables, impacting financial flexibility. Bank limits are highly utilized. The outlook is 'Stable', supported by the promoters' experience.