Samvardhana Motherson International Limited (SMIL) has received a rating update from ICRA Limited on March 10, 2026. ICRA has reaffirmed the ratings for existing debt instruments, including the Commercial Paper Programme and Non-Convertible Debentures. Furthermore, new ratings have been assigned to various long-term and short-term fund-based and non-fund-based facilities, reflecting the company’s stable credit profile. The total rated amount across all instruments increased to Rs. 5,850.00 Crore.
ICRA Rating Confirmation for SMIL
Samvardhana Motherson International Limited (SMIL) announced on March 10, 2026, that the rating agency, ICRA Limited, has completed a review of the company’s outstanding debt instruments and issuer rating. The primary action involves the reaffirmation of existing ratings, alongside the assignment of new ratings for newly sanctioned facilities.
Summary of Rating Actions
The total rated amount has increased from Rs. 3,250.00 Crore to Rs. 5,850.00 Crore following the inclusion of new lines of credit. Below is a summary of the key rating actions:
Commercial Paper and Debentures (Reaffirmed)
The ratings for the existing short-term and long-term instruments were maintained:
- Commercial Paper Programme (Short term): [ICRA]A1+; Reaffirmed (Amount: Rs. 750.00 Crore)
- Non-Convertible Debentures: [ICRA]AAA (Stable); Reaffirmed (Amount: Rs. 2,500.00 Crore)
- Issuer Rating: [ICRA]AAA (Stable); Reaffirmed
New Instrument Ratings Assigned
ICRA has assigned new ratings across several long-term and short-term facilities:
- Long Term- Fund Based- Term Loan (Rs. 2,000.00 Crore): Assigned [ICRA]AAA (Stable)
- Long Term- Fund Based- Working Capital Demand Loan (Rs. 100.00 Crore): Assigned [ICRA]AAA (Stable)
- Long-term / Short Term Non Fund Based- BG/LC (Rs. 75.00 Crore): Assigned [ICRA]AAA (Stable)/[ICRA]A1+
- Short Term- Non Fund Based- Others (CEL) (Rs. 425.00 Crore): Assigned [ICRA]A1+
The final total rated amount stands at Rs. 5,850.00 Crore, reflecting the company’s robust financial position and stability, validated by the [ICRA]AAA (Stable) ratings assigned to key long-term facilities.
Source: BSE
