Andhra Petrochemicals Ltd — Important, 11-02-2026: Company Update

The Andhra Petrochemicals Limited (APL) saw its long-term credit ratings downgraded by ICRA. Long-term unallocated limits of Rs. 57.18 Cr and fund-based working capital facilities of Rs. 35.00 Cr were lowered to [ICRA]BBB+ (Negative) from [ICRA]A- (Negative). This downgrade is due to APL's subdued performance, weak margins from narrow product-feedstock spreads, and an extended plant shutdown caused by unremunerative realizations and imports. APL highlights its debt-free status and strong liquidity, including Rs. 239.36 Cr in fixed deposits and fully securitized non-utilized working capital limits, stating the downgrade occurred despite these strengths.