Date: 16th September, 2026
Credit Rating Update
Rating Transition Details
- Company obtained external credit rating from Infomerics Valuation and Rating Limited on 22nd July 2025, valid until 21st July 2026
- Subsequently obtained external credit rating from CRISIL Ratings Limited on 16th July 2026, valid until 15th July 2027
- No interruption or gap in external credit rating coverage during transition from Infomerics to CRISIL
CRISIL Rating Upgrade (16th July 2026)
| Facilities | Total Bank Loan | Current Rating | Previous Rating | Rating Action |
| Long term Bank Facilities | Rs. 113 Crore (Enhanced from Rs 35 Crore) | Crisil BBB-/Stable | Crisil BB+/Stable | Rating Upgraded |
| Short term Bank Facilities | Not specified | Crisil A3 | Crisil A4+ | Rating Upgraded |
Clarification on Infomerics Rating
- Infomerics rating action should not be construed as indication of any deterioration in financial position or credit profile
- Infomerics rating arrangement was already due for expiry on 21st July 2026
- Company had obtained CRISIL rating prior to Infomerics expiry
- CRISIL rating was duly intimated to Stock Exchanges on 16th July 2026
Withdrawal Process
- Company has initiated process for withdrawal of Infomerics credit rating
- Approached bankers for issuance of requisite No Objection Certificate (NOC) for withdrawal
- Will complete necessary formalities with Infomerics at the earliest
Current Status
- Company maintains valid external credit rating from CRISIL
- No adverse change in company's current credit profile due to Infomerics rating action
- Current credit standing represented by CRISIL rating upgrade
Not Specified Sections
- Financial Results
- Dividend Declaration
- Board Meeting Outcomes
- Auditor's Report
- Disinvestment/Strategic Actions
- Media Release/Investor Communication
- Other Operational/Legal/Strategic Disclosures