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Entity-Specific Rating Rationales

27 Apr 2026

Lumax Industries Limited: Ratings upgraded to [ICRA]AA-(Stable)/[ICRA]A1+; rated amount enhanced

Lumax Industries Limited: Ratings upgraded to [ICRA]AA-(Stable)/[ICRA]A1+; rated amount enhanced

04 Apr 2025

Lumax Industries Limited: Ratings reaffirmed; rated amount enhanced

Lumax Industries Limited: Ratings reaffirmed; rated amount enhanced

19 Feb 2024

Lumax Industries Limited: Ratings reaffirmed; rated amount enhanced

Lumax Industries Limited: Ratings reaffirmed; rated amount enhanced

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Entity-Specific Credit Perspective Reports

25 May 2026

Lumax Industries Limited

Lumax Industries Limited (Non-SF)

07 May 2025

Lumax Industries Limited

Lumax Industries Limited (Non-SF)

18 Mar 2024

Lumax Industries Limited

Lumax Industries Limited (Non-SF)

Ratings

Description
Short Term
Medium Term
Long Term
Issuer
Short-term – Non-fund based – Others [ICRA]A1+ -- -- --
Long-term – Fund-based – Cash Credit -- -- [ICRA]AA-(Stable) --
Long-term – Unallocated limits – Unallocated limits -- -- [ICRA]AA-(Stable) --
Long-term – Fund-based – Term Loan -- -- [ICRA]AA-(Stable) --
Short-term – Fund-based – Cash credit [ICRA]A1+ -- -- --
Commercial Paper * -- -- --

Our Analysts

Analyst 1

Akshay Dangi

Analyst 2

Rohan Kanwar Gupta

Sector Head

Jitin Makkar
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