Chemfab Alkalis Limited — Credit Ratings, 14-03-2026: Credit Rating

India Ratings (Ind-Ra) downgraded Chemfab Alkalis' existing INR167.3 Cr bank loan facilities to 'IND BBB+/Negative/IND A2' from 'IND A-/A2+'. New INR2.7 Cr limits were assigned 'IND BBB+/Negative/IND A2'. The downgrade reflects deteriorated operating performance, weak credit metrics, and stretched liquidity due to lower caustic soda prices and subdued pipe demand.