[Negative] #tatva CRISIL has downgraded Tatva Chintan Pharma Chem Ltd's long-term rating to BBB+ (stable) from A- (negative) and short-term rating to A2 from A2+ on bank facilities worth ₹245 crore. The downgrade is due to moderation in the company's business risk profile, with FY2025 revenue declining to ₹385 crore and operating profit margins dropping to 9.49% from 18.43% last year.