Mumbai, Nov. 20 -- In an exchange filing, the company said Acuite cut its long-term rating to ACUITE BBB- / Stable from ACUITE BBB and its short-term rating to ACUITE A3 from ACUITE A3+ on Rs 208.42 crore bank facilities. The ratings were also removed from "Under Watch with Negative Implications." The downgrade was communicated to the company on 19 November 2025.

Acuite cited a sharp deterioration in operating performance since Q3 FY25 following Lokesh Machines' inclusion in the U.S. Office of Foreign Assets Control (OFAC) sanctions list. The sanction disrupted electronic component supplies from a key vendor, hurting production and revenue. The agency noted that operating performance remained weak in H1 FY26 and is likely to stay subdued...