Every credit rating announcement on NSE and BSE that our alert engine sent, newest first. Each one has its own page with the summary, the key figures and the original filing.
Anand Rathi Share and Stock Brokers Limited received credit rating upgrades from CARE Ratings for facilities totaling ₹1,650 Crore. Long-term ratings improved to 'CARE A; Stable' following a ₹745 crore equity infusion via IPO. The upgrade reflects enhanced financial flexibility and improved leverage metrics for the company.
CRISIL Ratings has downgraded Mirza International Limited's long-term rating to 'CRISIL BBB+/Negative' from 'CRISIL A-/Negative' and short-term rating to 'CRISIL A2' from 'CRISIL A2+'. The revision affects bank loan facilities totaling ₹215 Crore, reflecting a cautious outlook on the company's credit profile.
Globe Civil Projects Limited announced that Infomerics Ratings has upgraded its bank facility ratings to IVR BBB+/Stable/A2 and simultaneously withdrawn them at the company's request. The total facilities rated were ₹110 Crore. This follows a successful IPO in July 2025 and improved financial flexibility.
GNG Electronics Limited received a credit rating upgrade from CARE Ratings Limited for its bank facilities totalling ₹315.50 Crore. Long-term ratings improved to CARE BBB; Stable, while short-term ratings rose to CARE A3+, reflecting enhanced creditworthiness.
Orient Green Power's subsidiary, Clarion Wind Farm, received a credit rating affirmation of 'IND BBB-' with its outlook upgraded to Positive. India Ratings also assigned the same rating to additional limits, totaling ₹82.19 Crore. The upgrade reflects sustained operational performance and comfortable debt coverage.
India Ratings has reaffirmed Orient Green Power's subsidiary, Gamma Green Power, with an 'IND BBB-' rating and revised its outlook to 'Positive'. The rating covers facilities totaling ₹76.19 Crore, including a newly assigned ₹73.5 Crore limit. The upgrade reflects sustained operational performance and ongoing capacity expansion in Tamil Nadu.
DCM Shriram Fine Chemicals Limited has been assigned credit ratings by CARE Ratings for its bank facilities. Long-term facilities of ₹30 Crore received a 'CARE A-; stable' rating, while short-term facilities of ₹17.20 Crore were assigned 'CARE A2+'. This inaugural rating establishes the company's credit profile for ₹47.20 Crore in total bank limits.
CARE has reaffirmed the 'CARE A; Stable' credit rating for ₹780.76 Crore in long-term bank facilities of Sarda Energy & Minerals Limited's subsidiary, Madhya Bharat Power Corporation Ltd. This reaffirmation reflects the subsidiary's consistent creditworthiness.
Vikran Engineering Limited has received a credit rating update from India Ratings and Research. While the 'IND A-' rating was reaffirmed for ₹5,200 Crore in debt facilities, the outlook was revised from 'Stable' to 'Negative'. This revision signals potential credit risks or deteriorating financial metrics that investors should monitor closely.
Vikran Engineering Limited has been assigned a new credit rating of 'IND A-/Negative' by India Ratings and Research for its proposed ₹500 Crore non-convertible debentures. This rating provides an independent assessment of the company's creditworthiness for its upcoming debt issuance.
Popular Vehicles and Services Ltd received a rating extension from CRISIL. The long-term rating is CRISIL A/Stable and short-term is CRISIL A1, valid until March 2027. Additionally, the rated bank loan facilities increased from ₹468 Crore to ₹643 Crore, reflecting the company's expanded credit limits and financial standing.
Rishabh Instruments Limited has received a credit rating from CRISIL for its Rs.16.3 Crore bank facilities. CRISIL assigned a 'CRISIL BBB+/Stable' rating for long-term facilities and 'CRISIL A2' for short-term facilities, reflecting the company's creditworthiness and financial stability.
Bliss GVS Pharma Limited has been assigned a credit rating of [ICRA]A- (Stable) and [ICRA]A2+ by ICRA Limited for its bank facilities worth ₹100.00 Crore. This rating reflects the company's creditworthiness and stable financial outlook for its fund-based and non-fund-based instruments.
India Ratings & Research has placed Andhra Cements Limited's ₹986.97 Crore bank loan facilities on Rating Watch with Developing Implications. The rating action follows the proposed amalgamation of the company with its parent, Sagar Cements Limited. Currently rated IND BBB/IND A3+, the watch reflects potential restructuring of the group's cement business and debt transfer.
Acuite Ratings & Research has assigned a 'ACUITE BB' rating with a 'Stable' outlook to JMJ Fintech Limited's ₹25 Crore bank facilities. The rating reflects doubled income and comfortable capitalization in FY25, though offset by a rise in Gross NPA to 5.04%.
Akme Fintrade (India) Limited received a credit rating upgrade from Acuité Ratings & Research. Long-term ratings for Rs. 855 Crore in bank facilities and NCDs were upgraded to 'ACUITE A-' with a Stable outlook, reflecting sustained loan portfolio growth and healthy capital structure.
CARE Ratings has reaffirmed Asahi Songwon Colors Ltd's credit ratings at 'CARE A; Positive' and 'CARE A1' for facilities totaling ₹183.07 Crore. The rating reflects the company's established market position and improved profitability in FY25, supported by growth in its pigment and API segments.
CARE Ratings has reaffirmed Nahar Polyfilms Limited's credit ratings, assigning 'CARE A; Stable' for enhanced long-term bank facilities of ₹545 Crore and 'CARE A1' for ₹12 Crore short-term facilities. This reaffirmation reflects the company's stable financial position and creditworthiness for its ₹557 Crore total rated debt.
Embassy Office Parks REIT received credit rating revalidations from CRISIL and CARE for its Rs. 2,000 Crore Commercial Paper program. Both agencies assigned a 'A1+' rating, indicating a very strong degree of safety regarding timely payment of financial obligations and lowest credit risk.
India Ratings and Research has affirmed Aditya Birla Capital Limited's Long-Term Issuer Rating at 'IND AAA' with a Stable Outlook. The rating agency affirmed or assigned ratings to various instruments, including bank loans and debentures, totalling ₹1,46,279.90 Crore. This affirmation reflects the company's strong creditworthiness and stable financial position.
Vippy Spinpro Ltd has received assigned credit ratings from Care Edge for Rs. 126.87 Crore in bank facilities from HDFC Bank. The facilities include term loans and fund-based limits rated 'CARE BBB+; Stable' and short-term limits rated 'CARE A2'. This assignment reflects the company's creditworthiness and financial stability for the 2025-2026 period.
India Ratings maintained AGS Transact Technologies' ₹761.10 Crore bank facilities rating at 'IND D(ISSUER NOT COOPERATING)'. The rating reflects non-cooperation and lack of adequate information for surveillance. Additionally, the company is currently under the Corporate Insolvency Resolution Process (CIRP) following an NCLT order dated August 25, 2025.
WPIL Limited received credit rating reaffirmations and assignments from CARE Ratings for bank facilities totalling ₹1,153.50 Crore. Long-term facilities were rated CARE A+; Stable, while short-term facilities received a CARE A1+ rating, reflecting the company's stable credit profile.
CARE Edge Ratings has downgraded DCM Shriram Industries Ltd's long-term bank facilities and fixed deposits to 'CARE A-; Stable' and short-term facilities to 'CARE A2+'. The ratings were removed from 'Rating Watch with Negative Implications' following a review of FY25 performance and the NCLT-approved Composite Scheme of Arrangement.
CARE Ratings has reaffirmed Ahluwalia Contracts (India) Ltd's credit ratings at 'CARE AA-; Stable' for Rs. 3,140 Crore in bank facilities. Long-term facilities were enhanced to Rs. 186 Crore, while combined long/short-term limits rose to Rs. 2,954 Crore, reflecting stable operational and financial performance.
PTC India Financial Services (PFS) received credit rating updates from CRISIL. Ratings for NCDs and Term Loans were reaffirmed at 'CRISIL A' and removed from 'Rating Watch', though the outlook remains 'Negative'. Short-term ratings were reaffirmed at 'CRISIL A1'. These updates reflect the agency's current assessment of the company's creditworthiness and operational outlook.
Dreamfolks Services Limited received a credit rating affirmation from CRISIL for its Rs.145 Crore bank facilities. The long-term rating is maintained at CRISIL BBB-/Stable and the short-term rating at CRISIL A3. The ratings remain valid until September 30, 2026, reflecting the company's creditworthiness for its debt obligations.
India Ratings assigned 'IND A-'/Stable/'IND A2+' ratings to RPSG Ventures Limited's ₹1,155 Crore bank loan facilities. The rating reflects the company's strategic importance within the RP-Sanjiv Goenka Group and stable income from IT services and subsidiary dividends.
Mindspace Business Parks REIT received credit rating reaffirmations from ICRA Limited. The REIT's Issuer Rating and ₹9,040 Crore Non-Convertible Debentures maintained an [ICRA]AAA (Stable) rating, while its ₹2,500 Crore Commercial Paper program was reaffirmed at [ICRA]A1+. These top-tier ratings reflect the entity's strong creditworthiness and stable financial outlook.
ZF Steering Gear (India) Ltd's subsidiary, DriveSys Systems Private Limited, has been assigned credit ratings by ICRA. The agency assigned [ICRA]BBB+(Stable)/[ICRA]A2 for its Rs. 58 Crore bank limits and [ICRA]BBB+(Stable) for its Rs. 80 Crore term loan. This initial rating indicates a stable outlook for the subsidiary's debt facilities.
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