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
D Bimala Enterprises
Rationale / Rating Methodologies
Textiles ^ -- ^ -- --
D C Metals
Rationale / Rating Methodologies
Trading [ICRA]D ISSUER NOT COOPERATING -- -- -- --
D D Properties Private Limited
Rationale / Rating Methodologies
Real estate ^ -- -- -- --
D K Continental
Rationale / Rating Methodologies
Solvent extraction * -- * -- --
D N K
Rationale / Rating Methodologies
Trading ^ -- -- -- --
D Naresh Kumar
Rationale / Rating Methodologies
Miscellaneous -- -- ^ -- --
D Navinchandra Jewels
Rationale / Rating Methodologies
Gems and jewellery ^ -- -- -- --
D Nitin & Company Private Limited
Rationale / Rating Methodologies
Gems and jewellery [ICRA]BBB- -- -- -- Stable
D R Exports International
Rationale / Rating Methodologies
Trading * -- * -- --
D R Hotels and Resorts
Rationale / Rating Methodologies
Tourism Hotels and restaurant ^ -- -- -- --
D Ranflex India Private Limited
Rationale / Rating Methodologies
Engineering * -- * -- --
D Ranflex India Private Limited
Rationale / Rating Methodologies
Engineering * -- * -- --
D S Kulkarni Developers Limited
Rationale / Rating Methodologies
Miscellaneous ^ -- ^ -- --
D&H Secheron Electrodes Private Limited
Rationale / Rating Methodologies
Engineering [ICRA]BBB- -- -- -- Negative
D&H Secheron Electrodes Private Limited
Rationale / Rating Methodologies
Engineering -- -- [ICRA]A3 -- --
D. Bhagwanji & Co.
Rationale / Rating Methodologies
Real estate ^ -- -- -- --
D. D. Agro Industries Limited
Rationale / Rating Methodologies
Plastics ^ -- ^ -- --
D. S. Developers
Rationale / Rating Methodologies
Real estate [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
D. S. Textiles
Rationale / Rating Methodologies
Textiles ^ -- ^ -- --
D. V. Pawar
Rationale / Rating Methodologies
Construction ^ -- ^ -- --
D.B. Machine Tools Private Limited
Rationale / Rating Methodologies
Trading [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
D.B. Machine Tools Private Limited
Rationale / Rating Methodologies
Trading [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
D.B.Engineering Private Limited
Rationale / Rating Methodologies
Engineering ^ -- ^ -- --
D.D. Aggarwal Timber Private Limited
Rationale / Rating Methodologies
Timbers and Plywood etc ^ -- ^ -- --
D.D.R & Co.
Rationale / Rating Methodologies
Construction [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
D.D.R & Co.
Rationale / Rating Methodologies
Construction [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
D.D.R & Co.
Rationale / Rating Methodologies
Construction -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
D.D.R & Co.
Rationale / Rating Methodologies
Construction [ICRA]BB- ISSUER NOT COOPERATING -- [ICRA]A4 ISSUER NOT COOPERATING -- Stable
D.G. Cold Storage Private Limited
Rationale / Rating Methodologies
Logistics ^ -- -- -- --
D.K. Project Private Limited
Rationale / Rating Methodologies
Construction ^ -- ^ -- --
D.M Cotton Industries
Rationale / Rating Methodologies
Textiles [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
D.M Cotton Industries
Rationale / Rating Methodologies
Textiles [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
D.M Cotton Industries
Rationale / Rating Methodologies
Textiles [ICRA]B ISSUER NOT COOPERATING -- [ICRA]A4 ISSUER NOT COOPERATING -- Stable
D.M. Builders
Rationale / Rating Methodologies
Real estate * -- -- -- --
D.M. Enterprise
Rationale / Rating Methodologies
Trading -- -- ^ -- --
D.P.Garg and Company Private Limited
Rationale / Rating Methodologies
Building materials ^ -- ^ -- --
D.R. Buildestate Private Limited
Rationale / Rating Methodologies
Miscellaneous [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
D.R. Buildestate Private Limited
Rationale / Rating Methodologies
Miscellaneous [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
D.R. Coats Ink & Resins Private Limited
Rationale / Rating Methodologies
Chemicals -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
D.R. Coats Ink & Resins Private Limited
Rationale / Rating Methodologies
Chemicals [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
D.R. Coats Ink & Resins Private Limited
Rationale / Rating Methodologies
Chemicals [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
D.R. Coats Ink & Resins Private Limited
Rationale / Rating Methodologies
Chemicals -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
D.R.B.Commodities(India) Private Limited
Rationale / Rating Methodologies
Trading -- -- ^ -- --
D.S Enterprises
Rationale / Rating Methodologies
Paper [ICRA]B+ -- -- -- Stable
D.S Enterprises
Rationale / Rating Methodologies
Paper [ICRA]B+ -- -- -- Stable
D.S International
Rationale / Rating Methodologies
Miscellaneous [ICRA]B -- -- -- --
D.S International
Rationale / Rating Methodologies
Miscellaneous [ICRA]B -- -- -- --
D.S. Contractors Private Limited
Rationale / Rating Methodologies
Real estate ^ -- ^ -- --
D.S. Ductofab Systems Private Limited
Rationale / Rating Methodologies
Trading ^ -- -- -- --
D.V. Exports
Rationale / Rating Methodologies
Textiles ^ -- -- -- --
D2 International
Rationale / Rating Methodologies
Footwear and leather products ^ -- -- -- --
DA Toll Road Private Limited
Rationale / Rating Methodologies
Roads [ICRA]D ISSUER NOT COOPERATING -- -- -- --
DA Toll Road Private Limited
Rationale / Rating Methodologies
Roads [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Daaj Hotels and Resorts Private Limited
Rationale / Rating Methodologies
Tourism Hotels and restaurant [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Daawat Foods Limited
Rationale / Rating Methodologies
Agricultural Produce * -- * -- --
Dabur India Limited
Rationale / Rating Methodologies
FMCG [ICRA]AAA -- -- -- Stable
Dada Ganpati Engineers
Rationale / Rating Methodologies
Agricultural Produce ^ -- -- -- --
Dada Ganpati Guar Products Pvt. Ltd.
Rationale / Rating Methodologies
Agricultural Produce [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
Dada Ganpati Guar Products Pvt. Ltd.
Rationale / Rating Methodologies
Agricultural Produce -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Dada Ganpati Guar Products Pvt. Ltd.
Rationale / Rating Methodologies
Agricultural Produce [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
Daftari Agro Private Limited
Rationale / Rating Methodologies
Seeds [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Daftari Agro Private Limited
Rationale / Rating Methodologies
Seeds [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Dagger Master Tool Industries Limited
Rationale / Rating Methodologies
Engineering * -- * -- --
Dagger Master Tool Industries Limited
Rationale / Rating Methodologies
Engineering * -- * -- --
Dagger Master Tool Industries Limited
Rationale / Rating Methodologies
Engineering * -- * -- --
Dagger Master Tool Industries Limited
Rationale / Rating Methodologies
Engineering * -- * -- --
Dagger Master Tool Industries Limited
Rationale / Rating Methodologies
Engineering * -- * -- --
Dahyabhai B Patel
Rationale / Rating Methodologies
Construction [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Dahyabhai B Patel
Rationale / Rating Methodologies
Construction -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Daikin Airconditioning India Private Limited
Rationale / Rating Methodologies
Consumer durables [ICRA]AAA -- -- -- Stable
Daikin Airconditioning India Private Limited
Rationale / Rating Methodologies
Consumer durables [ICRA]AAA -- -- -- Stable
Dainik Savera News and Media Network
Rationale / Rating Methodologies
Media & Entertainment ^ -- -- -- --
Daiwa Asset Management (India) Private Limited
Rationale / Rating Methodologies
Asset Management Companies mfA1+ -- -- -- --
Daiwa Asset Management (India) Private Limited
Rationale / Rating Methodologies
Asset Management Companies mfA1+ -- -- -- --
Daiwa Government Securities Fund – Short Term Plan
Rationale / Rating Methodologies
Broking mfAAA -- -- -- --
Daiwik Hotels Private Limited
Rationale / Rating Methodologies
Tourism Hotels and restaurant * -- -- -- --
Dajikaka Gadgil Developers Private Limited
Rationale / Rating Methodologies
Miscellaneous * -- -- -- --
Dakshin Gujarat Vij Company Limited
Rationale / Rating Methodologies
Power [ICRA]AA- -- -- -- Stable
Dakshin Gujarat Vij Company Limited
Rationale / Rating Methodologies
Power [ICRA]AA- -- -- -- Stable
Dakshin Gujarat Vij Company Limited
Rationale / Rating Methodologies
Power -- -- [ICRA]A1+ -- --
Dakshin Gujarat Vij Company Limited
Rationale / Rating Methodologies
Power [ICRA]AA- -- [ICRA]A1+ -- Stable
Dali & Samir Engineering Private Limited
Rationale / Rating Methodologies
Auto Ancillaries * -- -- -- --
Dalkan Ship Breaking Ltd.
Rationale / Rating Methodologies
Shipbreaking [ICRA]BB+ -- -- -- Stable
Dalkan Ship Breaking Ltd.
Rationale / Rating Methodologies
Shipbreaking -- -- [ICRA]A4+ -- --
Dalmia Bharat Sugar and Industries Limited
Rationale / Rating Methodologies
Sugar -- * [ICRA]A1+ -- --
Dalmia Bharat Sugar and Industries Limited
Rationale / Rating Methodologies
Sugar [ICRA]AA- * -- -- Stable
Dalmia Bharat Sugar and Industries Limited
Rationale / Rating Methodologies
Sugar [ICRA]AA- * -- -- Stable
Dalmia Bharat Sugar and Industries Limited
Rationale / Rating Methodologies
Sugar -- -- [ICRA]A1+ -- --
Dalmia Cement (Bharat) Limited
Rationale / Rating Methodologies
Building materials [ICRA]AA -- -- -- Stable
Dalmia Cement (Bharat) Limited
Rationale / Rating Methodologies
Building materials [ICRA]AA -- -- -- Stable
Dalmia Cement (Bharat) Limited
Rationale / Rating Methodologies
Building materials [ICRA]AA -- -- -- Stable
Dalmia Cement (Bharat) Limited
Rationale / Rating Methodologies
Building materials -- -- [ICRA]A1+ -- --
Dalmia Cement (Bharat) Limited
Rationale / Rating Methodologies
Building materials [ICRA]AA -- -- -- Stable
Dalmia Cement (Bharat) Limited
Rationale / Rating Methodologies
Building materials -- -- [ICRA]A1+ -- --
Dalmia Cement East Limited
Rationale / Rating Methodologies
Building materials * -- * -- --
Dalmia Cement Ventures Limited
Rationale / Rating Methodologies
Building materials ^ -- ^ -- --
Dalmia Laminators Ltd.
Rationale / Rating Methodologies
Conglomerate [ICRA]BBB- -- -- -- Stable
Dalmia Laminators Ltd.
Rationale / Rating Methodologies
Conglomerate [ICRA]BBB- -- -- -- Stable
Dalmia Laminators Ltd.
Rationale / Rating Methodologies
Conglomerate -- -- [ICRA]A3 -- --
Dalmia Tea Plantation and Industries Ltd.
Rationale / Rating Methodologies
Tea and coffee [ICRA]BBB- -- -- -- Stable