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
.Haryana City Gas Distribution (Bhiwadi) Limited
Rationale / Rating Methodologies 		Oil and Gas [ICRA]BB- -- -- -- Stable
.Haryana City Gas Distribution (Bhiwadi) Limited
Rationale / Rating Methodologies 		Oil and Gas [ICRA]BB- -- -- -- Stable
20 Microns Limited
Rationale / Rating Methodologies 		Chemicals ^ -- ^ -- --
20 Microns Nano Minerals Limited
Rationale / Rating Methodologies 		Chemicals ^ -- -- -- --
24/7 Customer Private Limited
Rationale / Rating Methodologies 		Information Technology and BPO [ICRA]BBB+ -- -- -- Stable
3 K Prime Properties
Rationale / Rating Methodologies 		Miscellaneous ^ -- -- -- --
3B Films Pvt. Ltd.
Rationale / Rating Methodologies 		Plastics * -- -- -- --
3D PLM Software Solutions Limited
Rationale / Rating Methodologies 		Information Technology and BPO * -- -- -- --
3Forks Hospitality Private Limited
Rationale / Rating Methodologies 		Tourism Hotels and restaurant ^ -- -- -- --
4 Genius Minds
Rationale / Rating Methodologies 		Information Technology and BPO [ICRA]D ISSUER NOT COOPERATING -- -- -- --
4 Genius Minds
Rationale / Rating Methodologies 		Information Technology and BPO [ICRA]D ISSUER NOT COOPERATING -- -- -- --
4S Spintex India Private Limited
Rationale / Rating Methodologies 		Textiles ^ -- ^ -- --
5Paisa Capital Limited
Rationale / Rating Methodologies 		Finance and Banking -- -- * -- --
7 Star Company
Rationale / Rating Methodologies 		Real estate * -- -- -- --
7 Star Company
Rationale / Rating Methodologies 		Real estate * -- -- -- --
7 Star Construction
Rationale / Rating Methodologies 		Real estate * -- -- -- --
70 Realty
Rationale / Rating Methodologies 		Real estate ^ -- -- -- --
916 Epari Jeweller Private Limited
Rationale / Rating Methodologies 		Gems and jewellery ^ -- -- -- --
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
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