CRISIL withdraws 'CRISIL BB-/ Stable' rating of Sundaram Multi Pap due to non-cooperation
Withdrawal of credit rating can have a moderate impact on the company's financial flexibility.
The credit rating has been withdrawn due to the company's non-cooperation and negative profit after tax.
* CRISIL Ratings has withdrawn the 'CRISIL BB-/ Stable' rating assigned to the bank facilities of Sundaram Multi Pap Limited. * The withdrawal is due to the company's non-cooperation and the rating is based on publicly available information. * The company had requested for withdrawal of the credit rating and submitted the required documents. * The rating agency has withdrawn its rating on the term loan of ₹ 18.15 crore and cash credit facility and term loan of ₹ 21.85 crore on the request of the company and after receiving no-objection certificate from the banks. * CRISIL has been consistently following up with Sundaram Multi Pap Limited (SMPL) for obtaining information through letter and email dated May 06, 2025, among others, apart from telephonic communication. However, the issuer has remained non cooperative. * Operating income was ₹ 127.05 crore in fiscal year 2024 and ₹ 114.97 crore in fiscal year 2023. * Reported profit after tax was ₹ -5.07 crore in fiscal year 2024 and ₹ 2.59 crore in fiscal year 2023.
What to do with a filing like this
Sundaram Multi Pap Limited filed this with the NSE as a statutory disclosure, categorised under credit ratings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Sundaram Multi Pap Limited. Read the original for the full detail.