Anlon Healthcare Limited has notified stock exchanges regarding the withdrawal of credit ratings by Brickwork Ratings India Private Limited for its bank loan facilities worth Rs.24.50 crores and term loans of Rs.10.36 crores.

Rating Withdrawal Details

The pharmaceutical company informed BSE and NSE on April 15, 2026, that Brickwork Ratings has withdrawn the credit ratings assigned to its bank loan facilities following the closure of certain facilities. The rating agency had previously reaffirmed and subsequently withdrawn the ratings due to facility closure.

Rating History and Process

Brickwork Ratings had initially reaffirmed a BWR C rating in November 2025 under the "Issuer not cooperating" category. Following the company's request for review and withdrawal dated May 30, 2025, the rating agency removed the ratings from the non-cooperating category and upgraded them to BWR BB+/Stable before withdrawing them entirely.

The company successfully obtained the No Objection Certificate and closure letter for the closed term loans from Punjab National Bank, MCC Rajkot, which facilitated the rating withdrawal process.

Regulatory Compliance

Anlon Healthcare Limited submitted this intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company noted that the rating rationale previously issued by Brickwork Ratings may not reflect its current position following the withdrawal.

Company Information

The communication was signed by Punitkumar Rasadia, Managing Director (DIN: 06696258), on behalf of Anlon Healthcare Limited. The company operates from its registered office at Silver Coin Complex, Kalawad Road, Rajkot, Gujarat, and trades on BSE with scrip code 544497 and NSE with symbol AHCL.

Anlon Healthcare Limited has filed its initial disclosure under the SEBI Large Corporate framework, confirming that it does not qualify as a Large Corporate entity for the financial year 2026. The disclosure was submitted to both BSE Limited and the National Stock Exchange of India in compliance with regulatory requirements.

SEBI Framework Compliance

The disclosure was made in accordance with multiple SEBI circulars, including the original circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, subsequent amendments in 2021 and 2022, and the revised framework under SEBI/HO/DDHS/DDHSRACPODI/P/CIR/2023/172 dated October 19, 2023. These regulations establish the criteria for determining Large Corporate status as of March 31, 2026.

Large Corporate Classification Criteria

Under the SEBI framework, companies qualify as Large Corporate entities if they meet three specific conditions as of the last day of the financial year:

The borrowing criteria specifically excludes external commercial borrowings and inter-corporate borrowings between parent and subsidiary companies. For entities with multiple ratings from different agencies, the highest rating is considered for framework applicability.

Company's Non-Qualification Status

Anlon Healthcare Limited has confirmed that it does not fall under the Large Corporate category as per Clause 2.2 of the SEBI framework. The company's Managing Director, Punitkumar Rasadia, signed the disclosure document on April 15, 2026, formally notifying both stock exchanges of this status.

Regulatory Implications

As the company does not meet the Large Corporate criteria, it is exempt from the specific disclosure requirements mandated for Large Corporate entities under the SEBI framework. This exemption applies to all compliance obligations specified in the aforementioned regulations as of March 31, 2026.

The disclosure ensures transparency with regulatory authorities and provides clarity to stakeholders regarding the company's classification under current SEBI guidelines for the financial year 2026.