ICRA An Affiliate of Moody's

Entity-Specific Rating Rationales

30 Sep 2025

J M Baxi Ports & Logistics Private Limited: Ratings continue on watch with developing implications

02 Sep 2024

J M Baxi Ports & Logistics Limited: Ratings placed on rating watch with developing implications

31 May 2024

J M Baxi Ports & Logistics Limited: Bank Loan ratings reaffirmed; NCD ratings reaffirmed and withdrawn

30 May 2023

J M Baxi Ports & Logistics Limited: Ratings upgraded; outlook revised to Stable from Positive

28 Feb 2023

J M Baxi Ports & Logistics Limited: Ratings reaffirmed; rating assigned for NCD programme

22 Dec 2022

J M Baxi Ports & Logistics Limited: Ratings reaffirmed

11 Nov 2025

J M Baxi Ports & Logistics Private Limited

J M Baxi Ports & Logistics Private Limited (Non-SF)

05 Jul 2024

J M Baxi Ports & Logistics Private Limited

J M Baxi Ports & Logistics Private Limited (Non-SF)

26 Jun 2023

J M Baxi Ports & Logistics Private Limited

J M Baxi Ports & Logistics Private Limited (Non-SF)

19 Apr 2023

J M Baxi Ports & Logistics Private Limited

J M Baxi Ports & Logistics Private Limited (Non-SF)

Ratings

Description	Short Term	Medium Term	Long Term	Issuer
Term Loan	--	--	[ICRA]A+ Rating Watch with Developing Implications	--
Unallocated Limits	[ICRA]A1 Rating Watch with Developing Implications	--	[ICRA]A+ Rating Watch with Developing Implications	--
Non-fund Based – Working Capital Facilities	[ICRA]A1 Rating Watch with Developing Implications	--	--	--
Fund based - Working Capital Facilities	[ICRA]A1 Rating Watch with Developing Implications	--	--	--
Short term Non Convertible Debenture	Withdrawn	--	--	--

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