2. Ratings
As an early entrant in the Credit Rating business, ICRA Limited (ICRA) is one of the most experienced Credit Rating Agencies in the country today. ICRA rates rupee-denominated debt instruments issued by manufacturing companies, commercial banks, non-banking finance companies, financial institutions, public sector undertakings and municipalities, among others. ICRA also rates structured obligations and sector-specific debt obligations such as instruments issued by Power, Telecom and Infrastructure companies. The other services offered include Corporate Governance Rating, Stakeholder Value and Governance Rating, Credit Risk Rating of Debt Mutual Funds, Rating of Claims Paying Ability of Insurance Companies, Project Finance Rating, Line of Credit Rating and Valuation of Principal Protected-Market Linked Debentures (PP-MLD).
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z All
Company Name Sector Name Long Term Medium Term Short Term Issuer Outlook
A & L Apparels Pvt Ltd
Rationale / Rating Methodologies 		Textiles [ICRA]BB+ -- -- -- Stable
A & L Apparels Pvt Ltd
Rationale / Rating Methodologies 		Textiles -- -- [ICRA]A4+ -- --
A & L Apparels Pvt Ltd
Rationale / Rating Methodologies 		Textiles -- -- [ICRA]A4+ -- --
A & L Apparels Pvt Ltd
Rationale / Rating Methodologies 		Textiles [ICRA]BB+ -- [ICRA]A4+ -- Stable
A B Gold Private Limited
Rationale / Rating Methodologies 		Gems and jewellery ^ -- -- -- --
A B Grain Spirits Private Limited
Rationale / Rating Methodologies 		Breweries and Distilleries ^ -- ^ -- --
A B Motions Private Limited
Rationale / Rating Methodologies 		Real estate [ICRA]BB+ ISSUER NOT COOPERATING -- -- -- Stable
A B Renewable Energy Private Limited
Rationale / Rating Methodologies 		Power [ICRA]BB- -- -- -- Stable
A G Aerovision Electronics Private Limited
Rationale / Rating Methodologies 		Consumer durables ^ -- ^ -- --
A M Kanniappa Mudaliar & A M K Jambulinga Mudaliar Educational Trust
Rationale / Rating Methodologies 		Education ^ -- -- -- --
A N Associates
Rationale / Rating Methodologies 		Miscellaneous [ICRA]BB ISSUER NOT COOPERATING -- -- -- Stable
A N Associates
Rationale / Rating Methodologies 		Miscellaneous -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
A N Buildwell Private Limited
Rationale / Rating Methodologies 		Real estate ^ -- -- -- --
A One Ceramic Private Limited
Rationale / Rating Methodologies 		Ceramic tiles ^ -- ^ -- --
A One Ispat Private Limited
Rationale / Rating Methodologies 		Miscellaneous [ICRA]BBB- -- -- -- Stable
A One Ispat Private Limited
Rationale / Rating Methodologies 		Miscellaneous [ICRA]BBB- -- -- -- Stable
A One Ispat Private Limited
Rationale / Rating Methodologies 		Miscellaneous [ICRA]BBB- -- -- -- Stable
A One Steels India Private Limited
Rationale / Rating Methodologies 		Ferrous metals ^ -- -- -- --
A P R Textiles
Rationale / Rating Methodologies 		Textiles -- -- * -- --
A Plus Design House Llp
Rationale / Rating Methodologies 		Real estate [ICRA]BBB -- -- -- Stable
A Power Himalayas Limited
Rationale / Rating Methodologies 		Miscellaneous ^ -- -- -- --
A S Cargo Movers Private Limited
Rationale / Rating Methodologies 		Logistics ^ -- -- -- --
A S Enterprise
Rationale / Rating Methodologies 		Gems and jewellery -- -- ^ -- --
A S K Brothers Ltd
Rationale / Rating Methodologies 		Tourism Hotels and restaurant * -- -- -- --
A S Moloobhoy & Sons
Rationale / Rating Methodologies 		Miscellaneous ^ -- ^ -- --
A Shama Rao Foundation
Rationale / Rating Methodologies 		Education [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
A Shama Rao Foundation
Rationale / Rating Methodologies 		Education [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
A&A Modular Systems
Rationale / Rating Methodologies 		Retail ^ -- ^ -- --
A&J Microns Private Limited
Rationale / Rating Methodologies 		Utilities * -- * -- --
A&J Microns Private Limited
Rationale / Rating Methodologies 		Utilities * -- -- -- --
A&J Microns Private Limited
Rationale / Rating Methodologies 		Utilities * -- -- -- --
A&J Microns Private Limited
Rationale / Rating Methodologies 		Utilities -- -- * -- --
A. K. Das Associates Limited
Rationale / Rating Methodologies 		Construction [ICRA]BB- -- -- -- Stable
A. K. Das Associates Limited
Rationale / Rating Methodologies 		Construction -- -- [ICRA]A4 -- --
A. K. Das Associates Limited
Rationale / Rating Methodologies 		Construction -- -- [ICRA]A4 -- --
A. K. L. Infracon Pvt Ltd
Rationale / Rating Methodologies 		Construction -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
A. K. L. Infracon Pvt Ltd
Rationale / Rating Methodologies 		Construction [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
A. R. Stanchem Pvt.Ltd
Rationale / Rating Methodologies 		Chemicals * -- * -- --
A. S. Export
Rationale / Rating Methodologies 		Gems and jewellery -- -- [ICRA]A3 -- --
A. S. Steel Traders (VSP) Private Limited
Rationale / Rating Methodologies 		Trading * -- * -- --
A.A. Snack
Rationale / Rating Methodologies 		Food and food products ^ -- ^ -- --
A.B Rice Mills
Rationale / Rating Methodologies 		Agricultural Produce ^ -- -- -- --
A.D. Wine
Rationale / Rating Methodologies 		Breweries and Distilleries ^ -- -- -- --
A.G. Industries (Bawal) Pvt Ltd
Rationale / Rating Methodologies 		Auto Ancillaries [ICRA]AA- -- -- -- Stable
A.G. Industries (Bawal) Pvt Ltd
Rationale / Rating Methodologies 		Auto Ancillaries [ICRA]AA- -- -- -- Stable
A.G. Industries Pvt. Limited
Rationale / Rating Methodologies 		Auto Ancillaries [ICRA]AA- -- -- -- Stable
A.G. Industries Pvt. Limited
Rationale / Rating Methodologies 		Auto Ancillaries -- -- [ICRA]A1+ -- --
A.G. Industries Pvt. Limited
Rationale / Rating Methodologies 		Auto Ancillaries [ICRA]AA- -- -- -- Stable
A.G. Industries Pvt. Limited
Rationale / Rating Methodologies 		Auto Ancillaries [ICRA]AA- -- [ICRA]A1+ -- Stable
A.H. Memorial Educational Trust
Rationale / Rating Methodologies 		Education [ICRA]BBB+ -- -- -- Negative
A.H. Memorial Educational Trust
Rationale / Rating Methodologies 		Education [ICRA]BBB+ -- -- -- Negative
A.H. Memorial Educational Trust
Rationale / Rating Methodologies 		Education [ICRA]BBB+ -- -- -- Negative
A.H.Alloys
Rationale / Rating Methodologies 		Ferrous metals ^ -- -- -- --
A.J. Mehta & Co. LLP
Rationale / Rating Methodologies 		Gems and jewellery [ICRA]BB -- -- -- Stable
A.J. Mehta & Co. LLP
Rationale / Rating Methodologies 		Gems and jewellery [ICRA]BB -- [ICRA]A4+ -- Stable
A.L.A Chemicals Private Limited
Rationale / Rating Methodologies 		Construction ^ -- ^ -- --
A.M. Bhanderi
Rationale / Rating Methodologies 		Construction [ICRA]BB -- -- -- Stable
A.M. Bhanderi
Rationale / Rating Methodologies 		Construction -- -- [ICRA]A4+ -- --
A.M. Breweries Private Limited
Rationale / Rating Methodologies 		Breweries and Distilleries [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
A.M. Breweries Private Limited
Rationale / Rating Methodologies 		Breweries and Distilleries [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
A.M. Breweries Private Limited
Rationale / Rating Methodologies 		Breweries and Distilleries -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
A.M. Fisheries
Rationale / Rating Methodologies 		Seafoods ^ -- ^ -- --
A.M. Textiles and Knitwears Limited
Rationale / Rating Methodologies 		Miscellaneous * -- -- -- --
A.M.N. Jewellers Private Limited
Rationale / Rating Methodologies 		Gems and jewellery * -- * -- --
A.M.N. Jewellers Private Limited
Rationale / Rating Methodologies 		Gems and jewellery * -- * -- --
A.P.R. Ginn And Pressing Mills
Rationale / Rating Methodologies 		Miscellaneous [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
A.R. Dairy Food Private limited
Rationale / Rating Methodologies 		Food and food products * -- * -- --
A.S. Moloobhoy Private Limited
Rationale / Rating Methodologies 		Miscellaneous [ICRA]B+ ISSUER NOT COOPERATING -- [ICRA]A4 ISSUER NOT COOPERATING -- Stable
A.S. Moloobhoy Private Limited
Rationale / Rating Methodologies 		Miscellaneous -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
A.S. Reddy Infratech Private Limited
Rationale / Rating Methodologies 		Construction ^ -- ^ -- --
A.S. Transport Private Limited
Rationale / Rating Methodologies 		Logistics ^ -- ^ -- --
A.S.T. Pipes Private Limited
Rationale / Rating Methodologies 		Miscellaneous ^ -- ^ -- --
A.V. Infraprojects Private Limited
Rationale / Rating Methodologies 		Trading ^ -- ^ -- --
A2K Epic Decor Private Limited
Rationale / Rating Methodologies 		Timbers and Plywood etc * -- * -- --
AA Nutts
Rationale / Rating Methodologies 		Agricultural Produce ^ -- ^ -- --
AAA Paper Marketing Limited
Rationale / Rating Methodologies 		Paper ^ -- ^ -- --
Aachi Masala Foods Private Limited
Rationale / Rating Methodologies 		Agricultural Produce [ICRA]BBB+ -- -- -- Stable
Aachi Masala Foods Private Limited
Rationale / Rating Methodologies 		Agricultural Produce [ICRA]BBB+ -- -- -- Stable
Aachi Masala Foods Private Limited
Rationale / Rating Methodologies 		Agricultural Produce [ICRA]BBB+ -- -- -- Stable
Aachi Special Foods Private Limited
Rationale / Rating Methodologies 		Food and food products -- -- [ICRA]A3 -- --
Aachi Special Foods Private Limited
Rationale / Rating Methodologies 		Food and food products -- -- [ICRA]A3 -- --
Aachi Spices And Foods Private Limited
Rationale / Rating Methodologies 		Agricultural Produce [ICRA]BBB+(CE) -- -- -- Stable
Aachi Spices And Foods Private Limited
Rationale / Rating Methodologies 		Agricultural Produce -- -- [ICRA]A2(CE) -- --
Aadarsh Extrusion Pvt. Ltd.
Rationale / Rating Methodologies 		Non-ferrous metals * -- * -- --
Aadarshini Real Estate Developers Private Limited
Rationale / Rating Methodologies 		Real estate Provisional[ICRA]A(Stable) -- -- -- --
Aadarshini Real Estate Developers Private Limited
Rationale / Rating Methodologies 		Real estate [ICRA]A+ -- -- -- Positive
Aadhaar Seeds Private Limited
Rationale / Rating Methodologies 		Seeds ^ -- -- -- --
Aadhaar Seeds Private Limited
Rationale / Rating Methodologies 		Seeds ^ -- ^ -- --
Aadhar Housing Finance Limited
Rationale / Rating Methodologies 		Housing Finance Company -- -- * -- --
Aadhar Housing Finance Limited (formerly known as DHFL Vysya Housing Finance Limited)
Rationale / Rating Methodologies 		Housing Finance Company -- -- [ICRA]A1+ -- --
Aadhar Housing Finance Limited (formerly known as DHFL Vysya Housing Finance Limited)
Rationale / Rating Methodologies 		Housing Finance Company * -- -- -- --
Aadhi Cars Private Limited
Rationale / Rating Methodologies 		Automobile Dealerships ^ -- -- -- --
Aadhi Vinayaga Spinners
Rationale / Rating Methodologies 		Textiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Aadhi Vinayaga Spinners
Rationale / Rating Methodologies 		Textiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Aadhi Vinayaga Spinners
Rationale / Rating Methodologies 		Textiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Aadi Plastics Industries Private Limited
Rationale / Rating Methodologies 		Packaging ^ -- -- -- --
Aadi Polymers Private Limited
Rationale / Rating Methodologies 		Miscellaneous [ICRA]BB -- -- -- Stable
Aadi Polymers Private Limited
Rationale / Rating Methodologies 		Miscellaneous [ICRA]BB -- [ICRA]A4 -- Stable
Aadi Polymers Private Limited
Rationale / Rating Methodologies 		Miscellaneous -- -- [ICRA]A4 -- --
Aadinath Probuild (India) Private Limited
Rationale / Rating Methodologies 		Real estate ^ -- -- -- --
Recent Releases
  • PNB Housing Finance Limited: Rating downgraded to [ICRA]AA(Negative)

    Rationale / 03 Apr 2020

  • Essvy Constructions India Pvt. Ltd.: Rating reaffirmed

    Rationale / 03 Apr 2020

  • Jaypee Infra Ventures Private Limited: Grading Reaffirmed

    Rationale / 03 Apr 2020

Read more
ICRA Special Comments
Performance of ICRA-assigned credit ratings in FY2020
Others / Apr 2020 GoI’s fiscal deficit rose by 21.7% to Rs. 10.4 trillion in April-February FY2020; expenditure would need to be curtailed below the FY2020 RE by Rs. 1.1-1.2 trillion to prevent a fiscal slippage in absolute terms
Key Economic Indicators / Apr 2020 Sharp reduction in small savings rates for Q1 FY2021, following 75 bps cut in the policy Repo rate, to improve transmission to bank lending rates
Key Economic Indicators / Apr 2020 Read more