CARE Ratings has upgraded Waaree Renewable Technologies Limited’s long-term bank facilities rating from CARE A; Stable to CARE A+; Stable. Additionally, the long-term/short-term bank facilities rating has also been upgraded from CARE A; Stable / CARE A1 to CARE A+; Stable / CARE A1. These upgrades reflect CARE Ratings’ assessment of the company’s operational and financial performance.
Credit Rating Upgrade
Waaree Renewable Technologies Limited has received an upgrade in its credit ratings from CARE Ratings. The long-term bank facilities have been upgraded to CARE A+; Stable from CARE A; Stable. This upgrade is based on a letter issued by CARE Ratings on January 27, 2026.
Details of Revised Ratings
The following table summarizes the changes in credit ratings:
| Facilities | Amount (₹ crore) | Rating | Rating Action |
|---|---|---|---|
| Long Term Bank Facilities | 27.37 (Reduced from 28.94) | CARE A+; Stable | Upgraded from CARE A; Stable |
| Long Term / Short Term Bank Facilities | 2,200.00 (Enhanced from 1,394.06) | CARE A+; Stable / CARE A1+ | Upgraded from CARE A; Stable / CARE A1 |
Rationale for Upgrade
The upgrades are influenced by the company’s operational and financial performance. The detailed credit rating rationale will be available separately upon receipt.
Specific Facilities and Amounts
The upgraded ratings apply to specific bank facilities with revised amounts. The long-term bank facilities are valued at ₹27.37 crore (reduced from ₹28.94 crore), while the long-term/short-term bank facilities are enhanced to ₹2,200.00 crore (from ₹1,394.06 crore).
Breakdown of Facilities
The enhanced long-term/short-term facilities of ₹2,200.00 crore consist of fund-based and non-fund-based limits from various banks:
| Bank | Rated Amount (₹ crore) |
|---|---|
| ICICI Bank Ltd. | 400.00 |
| IDFC First Bank Ltd. | 300.00 |
| Yes Bank Ltd. | 300.00 |
| HDFC Bank Ltd. | 200.00 |
| RBL Bank Limited | 160.00 |
| HSBC Ltd. | 150.00 |
| Axis Bank Ltd. | 150.00 |
| Federal Bank | 80.00 |
| Proposed | 460.00 |
| Total | 2,200.00 |
These upgrades signal a positive outlook from CARE Ratings on Waaree Renewable Technologies Limited’s financial stability and operational efficiency as of January 27, 2026.
Source: BSE
