Regulatory Filing
HMA Agro Industries Credit Rating Withdrawn by CRISIL at Company’s Request
NSE
HMAAGRO
BSE
543929
HMA Agro Industries Limited has informed the stock exchanges that CRISIL Ratings Limited has withdrawn the company’s outstanding credit ratings following a request made by the company. The withdrawal became effective through CRISIL’s letter dated July 16, 2026.
PRICE-SENSITIVE TRIGGER
Event: Withdrawal of CRISIL credit ratings.
Type: Regulatory Filing
Impact: Neutral
Immediate Effect: The CRISIL credit ratings previously assigned to HMA Agro Industries’ bank facilities are no longer outstanding. The withdrawal was initiated at the company’s request and does not represent a rating downgrade or adverse credit action.
financials:
Key Metrics:
- Total Bank Loan Facilities Rated: ₹1,250 Crore
- Long-Term Rating (Before Withdrawal): CRISIL BBB+/Stable (Reaffirmed and Withdrawn)
- Short-Term Rating (Before Withdrawal): CRISIL A2 (Reaffirmed and Withdrawn)
Highlight:
- Credit Rating Status: CRISIL has withdrawn ratings covering ₹1,250 crore of bank facilities after reaffirming them prior to withdrawal.
What Happened ?
HMA Agro Industries Limited informed the stock exchanges that CRISIL Ratings Limited, through its communication dated July 16, 2026, has withdrawn the credit ratings assigned to the company’s bank loan facilities.
The withdrawal follows a formal request submitted by HMA Agro Industries to CRISIL. Consequently, the assigned ratings no longer remain outstanding from the effective date of CRISIL’s withdrawal letter.
The disclosure has been made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
key details
Credit Rating Withdrawal Details:
- CRISIL withdrew all outstanding ratings assigned to the company’s bank facilities.
- Withdrawal was requested by HMA Agro Industries.
- Effective date of withdrawal: July 16, 2026.
- Total rated bank facilities amounted to ₹1,250 crore.
- Long-term rating before withdrawal was CRISIL BBB+/Stable.
- Short-term rating before withdrawal was CRISIL A2.
- The ratings were reaffirmed before being withdrawn.
- Bank-wise facilities included export packing credit, fund-based facilities, non-fund-based limits, and proposed fund-based bank limits across multiple lenders.
Note:
- The disclosure specifically states that the withdrawal was initiated upon the company’s request and not due to any adverse rating action by CRISIL.
Risk Analysis
Summary:
- The filing is primarily a regulatory disclosure regarding withdrawal of an external credit rating. While the withdrawal itself is not a downgrade, investors may monitor the company’s future financing arrangements and whether new credit ratings are obtained.
Key Risks:
- Absence of an active external credit rating may reduce independent credit assessment for lenders and investors.
- Future borrowings may rely on fresh credit assessments from rating agencies.
- The filing does not disclose the reason behind the company’s request for withdrawal.
Worst Case:
- If the company is unable to secure alternative ratings when required for future borrowings, financing flexibility could be affected.
Risk Level: Medium
Company Commentary
- CRISIL Ratings withdrew the company’s credit ratings following HMA Agro Industries’ request.
- The withdrawal became effective through CRISIL’s letter dated July 16, 2026.
- The withdrawn ratings no longer remain outstanding.
- The disclosure has been made in compliance with Regulation 30 of the SEBI (LODR) Regulations.
Official Exchange Filing: HMA Agro Industries Limited
