Indag Rubber Ltd (509162) — Announcement | 29 September 2026

29 September 2026 · BSE 🔴 High Importance Neutral

By StockFin Research Team•AI-Assisted Analysis•Source: BSE/NSE Filings

📢 Key Event

ICRA reaffirms Indag Rubber's credit ratings with Negative outlook

🔄 What Changed

Ratings reaffirmed at A- (Negative) and A2+ with unchanged Negative outlook

🔮 What's Next

Ratings to be reviewed within one year; potential downgrade if profitability or liquidity deteriorates

💡 Investor Takeaway

Routine procedural filing with no direct impact on shareholders.

ICRA reaffirmed Indag Rubber's credit ratings at A- (Negative) for long-term and A2+ for short-term, covering Rs 28.40 crore of bank facilities including cash credit and bank guarantees. The rating rationale cites strong brand presence, debt-free balance sheet, healthy liquidity, and diversification into renewable energy via MMSPL subsidiary. However, the Negative outlook reflects concerns about sustaining profitability amid volatile raw material costs and the nascent scale of MMSPL operations.

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About Indag Rubber Ltd (509162)

Fast Moving Consumer Goods · Plantation & Plantation Products · Listed on BSE

Market Cap: ₹267.09 CrP/E: 19.5ROE: 6.0%ROCE: 7.5%Div Yield: 1.47%

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"How will MMSPL's ramp-up affect Indag's consolidated leverage ratios?""What specific metrics will trigger a rating downgrade?""How does ICRA assess the sustainability of margin improvements?"

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📊 More 509162 filings

🔴 Announcement — 25 September 2026Indag Rubber disclosed a GST Show Cause Notice (SCN) dated September 25, 2026, from Rajasthan's Join...
Announcement — 23 September 2026Indag Rubber Ltd announced that its trading window for insider transactions will close on October 1,...
🔴 Announcement — 21 September 2026Indag Rubber disclosed a GST Show Cause Notice (SCN) from Karnataka's Assistant Commissioner for FY ...

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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