Lumax Auto Technologies Limited announced a significant credit rating upgrade by CRISIL Ratings Limited, effective March 07, 2026. The Long-Term Credit Rating has been upgraded to CRISIL AA/stable from CRISIL AA-/Positive. Simultaneously, the Short-Term/Commercial Paper rating was re-affirmed at CRISIL A1+. The total outstanding bank facilities rated amount to Rs. 332 Crore, confirming the company’s strengthening financial stability.
Credit Rating Upgradation Announcement
Lumax Auto Technologies Limited has formally intimated the stock exchanges regarding a favorable revision in its credit profile by CRISIL Ratings Limited. This update reflects the agency’s positive assessment of the company’s sustained performance and robust financial health.
Summary of Rating Actions
The rating actions, effective March 07, 2026, detail the following changes across the company’s facilities:
- Long Term Rating: Upgraded from CRISIL AA-/Positive to CRISIL AA/stable.
- Short Term / Commercial Paper Rating: Reaffirmed at CRISIL A1+.
These ratings are applied across Rs. 332 Crore of total outstanding bank loan facilities. The company’s Commercial Paper rating of CRISIL A1+ signifies a very strong degree of safety regarding timely payment obligations, carrying the lowest credit risk.
Details of Facilities Rated
The Annexure 1 provides a breakdown of the facilities covered under the rating review, totaling Rs. 332 Crore. Key components include:
- Long Term Bank Facility (Kotak Mahindra Bank Limited): Rs. 75 Crore (Rating: Crisil AA/Stable)
- Long Term Bank Facility (Kotak Mahindra Investments Limited): Rs. 50 Crore (Rating: Crisil AA/Stable)
- Proposed Long Term Bank Loan Facility: Rs. 62 Crore (Rating: Crisil AA/Stable)
- Working Capital Demand Loan (CTBC Bank Co Limited): Rs. 10 Crore (Rating: Crisil A1+)
The document confirms that the ratings assigned for the Rs. 50 Crore Commercial Paper Programme were also reaffirmed at CRISIL A1+, valid for 60 calendar days from the date of the letter for issuance.
Source: BSE
