Shree Renuka Sugars (RENUKA) — Announcement

📢 Key Event
India Ratings downgrades SRSL's NCDs and bank loans to IND A- /Negative

🔄 What Changed
EBITDA fell to INR1.3 billion in FY26 from INR6.4 billion in FY25; interest coverage dropped to 0.3x

🔮 What's Next
EBITDA expected below earlier expectations in FY27 due to elevated costs

💡 Investor Takeaway
Shareholders face near-term credit pressure as EBITDA recovery stalls and debt rises despite sugar price support.

Shree Renuka Sugars Limited announced that credit rating agency India Ratings and Research downgraded its Non-Convertible Debentures and bank loan facilities to IND A- /Negative and IND A2+ /Negative respectively, reflecting weaker-than-expected FY26 EBITDA recovery and rising debt pressures. The downgrade follows EBITDA volatility from refining losses and forex impacts, despite strong sugar price tailwinds and Wilmar's support. Investor focus now shifts to near-term EBITDA sustainability and debt reduction timelines.

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About Shree Renuka Sugars Limited (RENUKA)

Fast Moving Consumer Goods · Sugar · Listed on NSE

Market Cap: ₹5,297.81 Cr ROE: 46.6% ROCE: -2.9%

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"How will SRSL reduce INR56.9 billion debt by FY27?" "What specific EBITDA targets does management set for FY27?" "When will Wilmar's support be formally documented for creditors?"

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🔥 Also filed on 25 August 2026

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

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