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Company Filings, Explained Simply

AI-powered plain-English analysis of every important corporate announcement — financial results, order wins, dividends, mergers and more. Updated live.

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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.
Themis Medicare Ltd

Themis Medicare Ltd: Credit Rating Downgraded by CARE Ratings

RATING ▼ Concern Flagged HIGH RISK
📅 Filed on BSE: 09 Oct 2026, 11:54 AM IST  ·  BSE ID: 409f971a-7945-49ff-a4c5-0c041a71984e
View Original BSE Filing (PDF)
💡
In Simple Terms
The company's credit rating for bank loans has been reduced due to lower profits and sales.
🤖 AI Summary
  • Themis Medicare Ltd's long-term bank facilities rating downgraded to CARE BB+; Stable.
  • Short-term bank facilities rating downgraded to CARE A4+ by CARE Ratings.
  • Deterioration in profitability margins in FY26 and Q1FY27 cited as reasons.
  • Company sold investments in GTBL for ₹100 crore to provide liquidity cushion.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Long Term Bank Facilities Rating
CARE BB+; Stable
Long Term Bank Facilities Amount
77.39 Rs. Crore
Short Term Bank Facilities Rating
CARE A4+
Short Term Bank Facilities Amount
48.50 Rs. Crore
PBILDT loss in Q1FY27
₹51.43 crore
Investment sale liquidity
₹100 crore
🏢 How This Affects the Company
📈
Business Impact
Deterioration in profitability due to increased competition and price reductions for key products impacts the business pipeline. Sale of investments affects asset base.
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Financial Impact
Downgraded ratings may increase borrowing costs. Significant debtors and revenue write-offs led to operating losses. Funds from investment sale provide liquidity.
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Operational Impact
The company undertook debtors and revenue write-offs, impacting operational performance. Promoters increased share pledge to fund investment purchase.
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Risk Impact
The downgrade signals increased financial risk, particularly concerning profitability and debt coverage indicators. Operating losses and working capital intensity are key concerns.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders based on this credit rating update.
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Who Is Affected
Shareholders are indirectly affected by potential increases in borrowing costs and any impact on company valuation due to credit rating.
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Management Signal
Management has sold investments to provide liquidity, indicating a focus on addressing short-term financial pressures.

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

👁 Watch List — track these upcoming events
Q2 FY27 results for profitability and margin trends.
Company disclosures on debt reduction progress.
Future rating reviews by CARE Ratings and other agencies.
HIGH RISK Downgraded credit ratings highlight significant concerns over profitability and financial stability.
💡 Investor Takeaway
Themis Medicare Ltd's credit ratings for bank facilities were downgraded by CARE Ratings due to reduced scale of operations and profitability. Long-term rating is now CARE BB+; Stable, short-term is CARE A4+.
⚖️ Strengths & Concerns

✅ Positives

  • Experienced and qualified promoters and management team provide foundational strength.
  • Comfortable capital structure and accredited manufacturing and R&D facilities are retained.

⚠️ Concerns

  • Significant deterioration in profitability margins with operating loss incurred during Q1FY27.
  • Weak debt coverage indicators and highly working capital-intensive operations are ongoing concerns.
❓ Frequently Asked Questions
What is the new credit rating for Themis Medicare Ltd's long-term bank facilities?
The new credit rating for Themis Medicare Ltd's long-term bank facilities is CARE BB+; Stable.
What was the previous credit rating for Themis Medicare Ltd's long-term bank facilities?
The previous credit rating for Themis Medicare Ltd's long-term bank facilities was CARE BBB-; Negative.
What is the new credit rating for Themis Medicare Ltd's short-term bank facilities?
The new credit rating for Themis Medicare Ltd's short-term bank facilities is CARE A4+.
What was the previous credit rating for Themis Medicare Ltd's short-term bank facilities?
The previous credit rating for Themis Medicare Ltd's short-term bank facilities was CARE A3.
Why were Themis Medicare Ltd's credit ratings downgraded?
Ratings were downgraded due to reduced scale of operations and significant deterioration in profitability margins in FY26 and Q1FY27.

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

⚠️ 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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