Orchid Pharma Limited (ORCHPHARMA) — Announcement

📢 Key Event
CARE Ratings downgraded Orchid Pharma's long-term bank facility rating from A- to BBB+.

🔄 What Changed
Long-term bank facility rating downgraded from CARE A- to CARE BBB+ with Stable outlook; removed from Rating Watch with Developing Implications. Short-term ratings (CARE A2) reaffirmed.

💡 Investor Takeaway
The downgrade reflects credit quality concerns and increased borrowing risk, potentially raising refinancing costs and limiting financial flexibility.

⚠️ Risks
NCLT final order on amalgamation scheme pending; asset acquisition for own molecule not yet completed; rating subject to ongoing surveillance and may be revised based on material developments.

CARE Ratings downgraded Orchid Pharma's long-term bank facility rating from CARE A- to CARE BBB+ (Stable outlook) on ₹207.50 crores, citing recent operational and financial performance for FY25 and 9MFY26, pending NCLT approval on an amalgamation scheme, and asset acquisition completion. Short-term ratings were reaffirmed. Total rated facilities stand at ₹366.50 crores across HDFC Bank and Yes Bank.

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