Sahajanand Medical Technologies Limited and its wholly owned subsidiary, SMT Cardiovascular Private Limited, have received credit rating upgrades from CRISIL Ratings Limited. Sahajanand Medical Technologies’ bank loan facilities have been upgraded to CRISIL A-/Stable, and SMT Cardiovascular Private Limited’s facilities have been upgraded to CRISIL BBB+/Stable. These upgrades reflect the strengthening business and financial risk profiles of both entities, driven by growing operations and sustained profitability.
CRISIL Upgrades Ratings for Sahajanand Medical Technologies Group
Sahajanand Medical Technologies Limited (SMTL) and its wholly owned material subsidiary, SMT Cardiovascular Private Limited, have been upgraded by CRISIL Ratings Limited. The rating action, dated November 04, 2026, signifies an improved credit profile for both entities.
Sahajanand Medical Technologies Limited – Rating Action
The bank loan facilities for Sahajanand Medical Technologies Limited have been upgraded to CRISIL A-/Stable from CRISIL BBB+/Stable for long-term ratings, and to CRISIL A2+ from CRISIL A2 for short-term ratings. The total bank loan facilities rated are Rs. 300 Crore, enhanced from Rs. 280 Crore. This upgrade reflects the strengthening of SMTL group’s business risk profile, driven by growing scale of operations and sustained profitability. The company successfully completed its initial public offering (IPO) in October 2026.
SMT Cardiovascular Private Limited – Rating Action
For SMT Cardiovascular Private Limited, the long-term rating on its bank facilities has been upgraded to CRISIL BBB+/Stable from CRISIL BBB/Stable. The total bank loan facilities rated are Rs. 50 Crore, reduced from Rs. 100 Crore. This upgrade is in line with the parent group’s improved credit profile and the subsidiary’s comfortable financial risk profile and adequate liquidity. The company commenced its project in October 2022.
Key Strengths Identified by CRISIL
CRISIL highlighted several key strengths contributing to these upgrades. For Sahajanand Medical Technologies, these include the extensive experience and technical expertise of its promoters, a sizeable market share with a robust distribution network, and a healthy financial risk profile. For SMT Cardiovascular Private Limited, the strengths include strong support from its parent, extensive promoter experience, and adequate liquidity. Both entities are expected to continue benefiting from established market positions and strong relationships.
Outlook
The outlook for both Sahajanand Medical Technologies Limited and SMT Cardiovascular Private Limited is rated as Stable, reflecting CRISIL’s belief that the SMTL group will continue to benefit from its established market position in the medical devices business.
Source: BSE
