CARE Ratings Limited has reaffirmed the credit rating for various instruments of Jindal Saw Limited. The Commercial Paper (CP) issue has been reaffirmed at CARE A1+. Non-Convertible Debentures (NCDs) have been reaffirmed at CARE AA; Stable, and Long Term Bank Facilities at CARE AA; Stable, while Short Term Bank Facilities are reaffirmed at CARE A1+. These reaffirmations reflect the company’s consistent financial performance.
Jindal Saw’s Credit Ratings Reaffirmed by CARE Ratings
Jindal Saw Limited has received reaffirmations of its credit ratings from CARE Ratings Limited for its various financial instruments and facilities. The ratings are based on the company’s recent operational and financial performance for FY26 (Audited) and Q1FY27 (Unaudited).
Commercial Paper Rating
For its Commercial Paper (CP) issue aggregating Rs.400.00 crore, CARE Ratings has reaffirmed the rating at CARE A1+. This includes a Rs.300.00 crore Commercial Paper and a Rs.100.00 crore Commercial Paper (Carved out). The rating action for these instruments is ‘Reaffirmed’.
Non-Convertible Debenture Rating
The Non-Convertible Debenture (NCD) issue of Rs.500.00 crore has been reaffirmed with a rating of CARE AA; Stable. These NCDs are scheduled for repayment starting March 26, 2029, with annual installments of Rs.166.70 crore, maturing by March 26, 2031.
Bank Facilities Rating
Jindal Saw’s bank facilities have also seen reaffirmations:
- Long Term Bank Facilities, amounting to Rs.2,123.79 crore, have been reaffirmed at CARE AA; Stable.
- Short Term Bank Facilities, totalling Rs.9,000.00 crore, have been reaffirmed at CARE A1+.
These reaffirmations indicate the rating agency’s continued confidence in Jindal Saw Limited’s creditworthiness and its ability to meet its financial obligations.
Source: BSE
