Further to announcement dated: 21st February, 2025, regarding revision in Credit Ratings of the Company in terms of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, Flex Foods has informed that the rating agency has downgraded the Company’s Rating in respect of Working Capital (Fund Based and Non-Based) and Term Loan facilities of the Company. The reason for downgrade as provided by the Rating Agency viz., India Ratings is deterioration in the Company’s operating profitability, credit metrics and liquidity over FY24 and 1HFY25. However, the ratings are supported by its strong parentage evidenced by the inflow of unsecured loans over the past two years as well as a further infusion of INR 244.7 million by the group companies/ultimate promoters in 1HFY25. The Rating rationale can be viewed on the following link: https://www.indiaratings.co.in/pressrelease/75171.
The above information is a part of company’s filings submitted to BSE.
