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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
HMA Agro Industries Ltd

HMA Agro Industries: CRISIL Ratings Withdrawn on Rs. 1,250 Crore Facilities

RATING ◆ Monitor Closely MEDIUM RISK
📅 Filed on BSE: 17 Jul 2026, 02:46 PM IST  ·  BSE ID: 9e71159d-8788-4ddc-b623-4541f0864e48
View Original BSE Filing (PDF)
💡
In Simple Terms
The company requested its credit rating agency, CRISIL, to cancel its existing ratings on its major bank loans.
🤖 AI Summary
  • CRISIL Ratings withdrew credit ratings on HMA Agro's Rs. 1,250 Crore bank facilities.
  • The withdrawal was initiated by HMA Agro Industries Limited.
  • Long-term rating withdrawn was Crisil BBB+/Stable.
  • Short-term rating withdrawn was Crisil A2.
  • Ratings no longer outstanding effective July 16, 2026.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Total Bank Loan Facilities Rated by CRISIL
Rs.1250 Crore
Long Term Rating Withdrawn
Crisil BBB+/Stable
Short Term Rating Withdrawn
Crisil A2
🏢 How This Affects the Company
💰
Financial Impact
The company's long-term and short-term credit ratings from CRISIL, previously at BBB+/Stable and A2 respectively, have been withdrawn.
⚠️
Risk Impact
The withdrawal of credit ratings may affect the company's ability to secure future financing on similar terms, though other ratings remain active.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders. Shareholders should note this development for informational purposes.
👤
Who Is Affected
All shareholders are affected by changes in the company's credit profile and transparency regarding its debt instruments.
🔍
Management Signal
Management's request for withdrawal signals a strategic decision regarding its credit rating disclosure and relationship with CRISIL.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
Updates on other credit ratings from agencies like CARE.
Company's subsequent debt raising activities or refinancing plans.
Management commentary on the financial implications of rating withdrawal.
MEDIUM RISK Withdrawal of credit ratings on substantial debt requires careful monitoring of financial health.
💡 Investor Takeaway
HMA Agro Industries' Rs. 1,250 Crore bank loan facilities, previously rated Crisil BBB+/Stable and Crisil A2, have had their ratings withdrawn effective July 16, 2026, per company request.
⚖️ Strengths & Concerns

✅ Positives

  • Company proactively requested rating withdrawal, indicating potential strategic financial management.
  • CARE Ratings had previously reaffirmed Rs. 1,231 Crore bank facilities in June 2026.

⚠️ Concerns

  • Withdrawal of CRISIL's BBB+/Stable and A2 ratings on Rs. 1,250 Crore facilities.
  • The company's previous ratings were investment-grade, indicating a potential shift in financial perception.
📅 Company Track Record
In March 2026, HMA Agro secured investment-grade ratings (BBB+/A2) on Rs. 1,250 Crore facilities. In June 2026, CARE Ratings reaffirmed Rs. 1,231 Crore facilities.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What credit ratings have been withdrawn for HMA Agro Industries?
CRISIL Ratings has withdrawn the Crisil BBB+/Stable long-term rating and Crisil A2 short-term rating for HMA Agro Industries' bank facilities.
What is the total value of the bank facilities for which ratings were withdrawn?
The total value of the bank loan facilities for which CRISIL Ratings were withdrawn is Rs. 1,250 Crore.
When did the withdrawal of CRISIL ratings become effective?
The withdrawal of the credit ratings by CRISIL Ratings became effective from July 16, 2026.
Who requested the withdrawal of credit ratings from CRISIL?
HMA Agro Industries Limited made the request to CRISIL Ratings Limited for the withdrawal of its outstanding credit ratings.

Questions based on this BSE filing only. For information purposes.

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⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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