Crisil Migrates Ratings of Rudra Gas Enterprise Ltd's Credit Facilities Due to Issuer Non-Cooperation

Crisil Migrates Ratings of Rudra Gas Enterprise Ltd's Credit Facilities Due to Issuer Non-Cooperation​

Crisil Ratings has migrated the credit ratings for Long Term and Short Term facilities of Rudra Gas Enterprise Limited (RGEL), citing a lack of cooperation from the issuer regarding the provision of necessary financial and strategic information.

The rating action, completed on July 10, 2026, reflects the risk of assessing information adequacy. Crisil Ratings transitioned RGEL’s long-term credit facility rating to 'Crisil BB/Stable,' downgrading it from its previous status of 'Crisil BBB-/Watch Developing.' The short-term rating was migrated to 'Crisil A4+' from 'Crisil A3/Watch Developing'.

The decision by Crisil Ratings to assign these ratings with the 'Issuer Not Cooperating' suffix was made after the agency repeatedly attempted to engage RGEL management for information. This includes correspondence via letters and emails sent from June 8, 2026, through July 7, 2026, in addition to telephonic communication, all of which went unresponded to by the company.

Crisil Ratings stated that due to the inadequate information received, it was unable to take a forward-looking view on the credit quality of RGEL. The ratings were assigned based on best available or limited data.

The aggregated rating details for RGEL's bank loan facilities are as follows:


The total bank loan facilities rated by the agency amounted to Rs. 80 Crore.

Group Structure and Analytical Approach​

Crisil Ratings conducted its analysis by consolidating the business and financial risk profile of Rudra Gas Enterprise Ltd with its subsidiary, Rudra Global Green Energy Pvt Ltd (RGGEPL). This subsidiary holds a 51% stake in RGEL and is strategically integrated into RGEL’s operations.

Rudra Gas Enterprise Limited was incorporated in 2015 and operates in the fields of city gas distribution, fibre cable network projects, and rental of construction machinery and vehicles. Rudra Global Green Energy Pvt Ltd currently undertakes a solar project in Rajasthan.

Facility Details and Lending Partners​

The rating covers multiple bank facilities provided by financial institutions. For specific instruments, such as Bank Guarantee, Cash Credit, and Letter of Credit, the details are listed below:


The ratings encompass both fund-based and non-fund based facilities, which were previously rated in October 2025. The agency's rating history also includes the previous status of these facilities over a multi-year period, reflecting the evolving credit profile in the market.

Stock Price Movement​

Rudra Gas Enterprise Ltd settled at ₹77.75 in the Friday close, ticking up by 0.06% from the previous session. The shares remained completely flat throughout the trading day, as both the high and low stayed fixed at ₹77.75.