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    ALPHA TRIBE

    N R Agarwal Industries Limited — Credit Ratings, 26-08-2025: Credit Rating- Revision

    26-08-2025 | 04:08 pm

    ICRA has downgraded N R Agarwal Industries' long-term rating to [ICRA]A- (Stable) from [ICRA]A (Stable) and short-term rating to [ICRA]A2+ from [ICRA]A1 for Rs. 955.64 Cr instruments. This reflects a weakening financial profile due to continued pressure on operating margins (3.7% in Q1 FY26) and increased debt-funded capital expenditure for a new Rs. 1,200 Cr plant. The outlook remains Stable.

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