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Home Credit Perspective Reports HPCL-Mittal Energy Limited
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Entity-Specific Rating Rationales

31 Oct 2025

HPCL-Mittal Energy Limited: Rating reaffirmed; rated amount enhanced for bank facilities

HPCL-Mittal Energy Limited: Rating reaffirmed; rated amount enhanced for bank facilities

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08 Oct 2024

HPCL-Mittal Energy Limited: Rating reaffirmed

HPCL-Mittal Energy Limited: Rating reaffirmed

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23 May 2024

HPCL-Mittal Energy Limited: Rating withdrawn for Rs. 1000-crore NCD programme

HPCL-Mittal Energy Limited: Rating withdrawn for Rs. 1000-crore NCD programme

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15 Dec 2023

HPCL-Mittal Energy Limited: Rating reaffirmed; rated amount enhanced

HPCL-Mittal Energy Limited: Rating reaffirmed; rated amount enhanced

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28 Jul 2023

HPCL-Mittal Energy Limited: Ratings reaffirmed; reaffirmed and withdrawn for Rs. 45.0-crore NCD programme

HPCL-Mittal Energy Limited: Ratings reaffirmed; reaffirmed and withdrawn for Rs. 45.0-crore NCD programme

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Entity-Specific Credit Perspective Reports

02 Dec 2025

HPCL-Mittal Energy Limited

HPCL-Mittal Energy Limited (Non-SF)

07 Nov 2024

HPCL-Mittal Energy Limited

HPCL-Mittal Energy Limited (Non-SF)

22 Aug 2023

HPCL-Mittal Energy Limited

HPCL-Mittal Energy Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Term Loan -- -- [ICRA]AA+(Stable) --
Non-Convertible Debenture -- -- [ICRA]AA+(Stable) --
Non-Convertible Debenture -- -- Withdrawn --
Commercial Paper * -- -- --

Our Analysts

Analyst 1

Sahaj Gugliani

Analyst 2

Varun Gogia

Sector Head

Girishkumar Kashiram Kadam
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