Jindal Saw Limited: Credit Ratings Reaffirmed by CARE Ratings
Jindal Saw Limited's credit ratings were reaffirmed by CARE Ratings. Commercial Paper of ₹400 crore and Non-Convertible Debentures of ₹500 crore received reaffirmations. Long-term bank facilities of ₹2,123.79 crore and short-term facilities of ₹9,000 crore were also reaffirmed. The issuer rating was reaffirmed at CARE AA; Stable.
The reaffirmation of credit ratings for significant debt instruments and banking facilities provides a positive signal to investors and lenders, potentially facilitating future fundraising at favorable terms. This impacts the company's financial flexibility and borrowing costs.
The reaffirmation of credit ratings by CARE Ratings indicates a stable financial outlook and strong creditworthiness for Jindal Saw Limited, which is a positive development for the company.
Jindal Saw Limited announced that CARE Ratings Limited has reaffirmed the credit ratings for various instruments and banking facilities of the company. The reaffirmation is based on the company's operational and financial performance for FY26 (Audited) and Q1FY27 (Unaudited).
For its Commercial Paper (CP) issue aggregating ₹400.00 crore, the rating for ₹300.00 crore has been reaffirmed as CARE A1+. A further ₹100.00 crore of CP, carved out from working capital limits, has also been reaffirmed at CARE A1+.
The Non-Convertible Debenture (NCD) issue of ₹500.00 crore has been reaffirmed with a rating of CARE AA; Stable. These NCDs are scheduled to be repaid by March 26, 2031, with annual installments of ₹166.70 crore commencing from March 26, 2029.
Furthermore, the Issuer Rating has been reaffirmed as CARE AA; Stable. The company's Long Term Bank Facilities, amounting to ₹2,123.79 crore, have been reaffirmed at CARE AA; Stable, while Short Term Bank Facilities totaling ₹9,000.00 crore have been reaffirmed at CARE A1+.
CARE Ratings has requested the company to provide details of the CP issue within seven days of its placement. The rating for the CP issue needs to be revalidated if not made within two months from September 18, 2026, i.e., by November 18, 2026. CARE Ratings also reserves the right to review or revise the ratings based on future events or information.
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Jindal Saw Limited filed this with the NSE as a statutory disclosure, categorised under credit ratings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Jindal Saw Limited. Read the original for the full detail.