Revathi Equipment India Limited has received a credit rating downgrade from CARE Ratings Limited, reflecting the company's weakened financial performance and operational challenges. The rating agency announced the revision on February 14th, 2026, citing significant deterioration in the company's operating metrics.

Rating Downgrade Details

CARE Ratings has implemented comprehensive downgrades across the company's banking facilities:

The rating agency has maintained a stable outlook despite the downgrades, indicating expectations that the company will sustain a comfortable capital structure and adequate liquidity.

Financial Performance Deterioration

The company's financial metrics show significant decline across key parameters:

The company reported operating losses in 9MFY26, with operating income moderating significantly. Export performance weakened due to geopolitical and logistics-related disruptions, while domestic revenues were impacted by reduced order inflows from mine developer-operators.

Key Rating Factors

CARE Ratings highlighted several factors influencing the downgrade:

Strengths:

• Experienced management team led by Executive Chairman Abhishek Dalmia
• Long operational track record of over four decades in drilling equipment manufacturing
• Established market position in the drilling equipment segment
• Comfortable capital structure and adequate liquid investments

Weaknesses:

• Moderation in financial and operational performance with lower production volumes
• High client concentration risk, with top five customers contributing ~88% of sales in 9MFY26
• Working capital intensive operations with an elongated operating cycle of 162 days in FY25
• Exposure to group company Semac Construction Limited

Company Background

Revathi Equipment India Limited manufactures mining equipment, primarily blast hole drills ranging from 63 mm to 349 mm in size, catering to both domestic and export markets. The company was incorporated in 2020 following a demerger from Revathi Equipment Limited and got listed on stock exchanges on September 11, 2024. The drilling business originally commenced operations in 1977 with technical collaboration from Chicago Pneumatic of USA.

Liquidity Position

Despite operational challenges, the company maintains adequate liquidity with average working capital utilization at 63.42% for the 12 months ended January 2026. The current ratio stood at 1.75x as of March 31, 2025, providing some financial cushion during the challenging period.

Revathi Equipment India Limited has completed the newspaper publication of its unaudited financial results for the third quarter of fiscal year 2026, marking another milestone in its regulatory compliance journey. The company published its quarterly financial statements in leading newspapers on January 29, 2026, ensuring transparency and accessibility for all stakeholders.

Regulatory Compliance and Publication Details

In accordance with Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Revathi Equipment India Limited published its unaudited standalone and consolidated financial results for the quarter and period ended December 31, 2025. The publication appeared in two newspapers to ensure broad accessibility:

Board Approval and Corporate Governance

The Board of Directors of Revathi Equipment India Limited approved the unaudited standalone and consolidated financial results at their meeting held on January 28, 2026. The approval process included the Limited Review Report from the company's Statutory Auditors, ensuring adherence to accounting standards and regulatory requirements.

Nishant Ramakrishnan, Company Secretary and Compliance Officer, signed the regulatory filing, confirming the company's commitment to timely disclosure and transparency. The digital signature was applied on January 29, 2026, at 14:45:48 +05'30', demonstrating the company's adoption of modern digital processes.

Accessibility and Digital Innovation

Revathi Equipment India Limited has embraced digital accessibility by providing multiple channels for stakeholders to access the financial results. The complete financial statements, along with the Limited Review Reports from Statutory Auditors, are available through various platforms:

• Company website: https://www.revathi.in/investor-relations/financials/quarterly-results/
• National Stock Exchange of India Limited: www.nseindia.com
• BSE Limited: www.bseindia.com
• QR code scanning for direct website access

Corporate Information and Contact Details

Revathi Equipment India Limited, formerly known as Renaissance Corporate Consultants Limited, operates from its registered office at Pollachi Road, Malumachampatti Post, Coimbatore - 641 050. The company maintains active communication channels through phone (0422 6655100) and email ( compliance.officer@revathi.in ), ensuring stakeholder accessibility.

The company's CIN number L74999TZ2020PLC033369 reflects its incorporation status and regulatory standing. With trading symbols on both major Indian stock exchanges (NSE: RVTH, BSE: 544246), Revathi Equipment India Limited maintains a strong presence in the Indian capital markets.

Conclusion

The timely publication of Q3 FY26 financial results demonstrates Revathi Equipment India Limited's commitment to regulatory compliance and stakeholder transparency. By utilizing both traditional newspaper publication and modern digital platforms, the company ensures comprehensive accessibility of its financial information to all interested parties.