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 C Metals
Rationale / Rating Methodologies
Trading [ICRA]D ISSUER NOT COOPERATING -- -- -- --
D. S. Developers
Rationale / Rating Methodologies
Real estate [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
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.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.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.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]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. Coats Ink & Resins Private Limited
Rationale / Rating Methodologies
Chemicals -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
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 -- -- -- --
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
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 -- --
Dalkan Ship Breaking Ltd.
Rationale / Rating Methodologies
Shipbreaking [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Dalkan Ship Breaking Ltd.
Rationale / Rating Methodologies
Shipbreaking -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Danish Leather Exports
Rationale / Rating Methodologies
Miscellaneous -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Danish Leather Exports
Rationale / Rating Methodologies
Miscellaneous -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Danish Leather Exports
Rationale / Rating Methodologies
Miscellaneous -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Danlaw Electronics Assembly Limited
Rationale / Rating Methodologies
Electronics and Electricals -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Danlaw Electronics Assembly Limited
Rationale / Rating Methodologies
Electronics and Electricals [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Darjeeling Power Private Limited (erstwhile Darjeeling Power Limited)
Rationale / Rating Methodologies
Power [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Darjeeling Power Private Limited (erstwhile Darjeeling Power Limited)
Rationale / Rating Methodologies
Power [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Darjeeling Power Private Limited (erstwhile Darjeeling Power Limited)
Rationale / Rating Methodologies
Power [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Darwin Pharma Pvt.Ltd.
Rationale / Rating Methodologies
Pharmaceuticals [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Dashmesh Agro Industries
Rationale / Rating Methodologies
Agricultural Produce [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Dashmesh Rice Mills
Rationale / Rating Methodologies
Agricultural Produce [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Datacom Products (India) Pvt. Ltd
Rationale / Rating Methodologies
Information Technology and BPO [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Datacom Products (India) Pvt. Ltd
Rationale / Rating Methodologies
Information Technology and BPO -- -- [ICRA]D ISSUER NOT COOPERATING -- --
Datacom Products (India) Pvt. Ltd
Rationale / Rating Methodologies
Information Technology and BPO [ICRA]D ISSUER NOT COOPERATING -- [ICRA]D ISSUER NOT COOPERATING -- --
Dattar Ceramic Private Limited
Rationale / Rating Methodologies
Utilities [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Dattar Ceramic Private Limited
Rationale / Rating Methodologies
Utilities [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Dattar Ceramic Private Limited
Rationale / Rating Methodologies
Utilities -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
DCR Infra
Rationale / Rating Methodologies
Real estate [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Deccan Ispat Limited
Rationale / Rating Methodologies
Trading -- -- [ICRA]D ISSUER NOT COOPERATING -- --
Deccan Ispat Limited
Rationale / Rating Methodologies
Trading -- -- [ICRA]D ISSUER NOT COOPERATING -- --
Deco Equipments Private Limited
Rationale / Rating Methodologies
Auto Ancillaries [ICRA]B- ISSUER NOT COOPERATING -- -- -- Stable
Deco Equipments Private Limited
Rationale / Rating Methodologies
Auto Ancillaries [ICRA]B- ISSUER NOT COOPERATING -- -- -- Stable
Decor Paper Mills Limited
Rationale / Rating Methodologies
Paper [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Decor Paper Mills Limited
Rationale / Rating Methodologies
Paper -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Deekay Trexim India Private Limited
Rationale / Rating Methodologies
Textiles [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
Deekay Trexim India Private Limited
Rationale / Rating Methodologies
Textiles -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Deepa Developers
Rationale / Rating Methodologies
Tourism Hotels and restaurant [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Deepa Developers
Rationale / Rating Methodologies
Tourism Hotels and restaurant [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Deepak Builders
Rationale / Rating Methodologies
Construction [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Deepak Builders
Rationale / Rating Methodologies
Construction -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Deepthy Fenishers
Rationale / Rating Methodologies
Trading [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Delhi Waste Management Limited
Rationale / Rating Methodologies
Public finance -- -- [ICRA]A3 ISSUER NOT COOPERATING -- --
Delhi Waste Management Limited
Rationale / Rating Methodologies
Public finance [ICRA]BBB- ISSUER NOT COOPERATING -- -- -- Stable
Delite Cables Pvt. Ltd.
Rationale / Rating Methodologies
Cables -- -- [ICRA]D ISSUER NOT COOPERATING -- --
Delite Cables Pvt. Ltd.
Rationale / Rating Methodologies
Cables [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Delite Cables Pvt. Ltd.
Rationale / Rating Methodologies
Cables [ICRA]D ISSUER NOT COOPERATING -- [ICRA]D ISSUER NOT COOPERATING -- --
Delta Electro Mechanical Pvt. Ltd.
Rationale / Rating Methodologies
Construction [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Delta Electro Mechanical Pvt. Ltd.
Rationale / Rating Methodologies
Construction -- -- [ICRA]D ISSUER NOT COOPERATING -- --
Deorani Devi Memorial Trust
Rationale / Rating Methodologies
Education [ICRA]D ISSUER NOT COOPERATING -- [ICRA]D ISSUER NOT COOPERATING -- --
Deorani Devi Memorial Trust
Rationale / Rating Methodologies
Education [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Design Classics Exports Private Limited
Rationale / Rating Methodologies
Textiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Design Classics Exports Private Limited
Rationale / Rating Methodologies
Textiles -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Design Classics Exports Private Limited
Rationale / Rating Methodologies
Textiles -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Design Classics Exports Private Limited
Rationale / Rating Methodologies
Textiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Design Creation
Rationale / Rating Methodologies
Gems and jewellery [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
Design Creation
Rationale / Rating Methodologies
Gems and jewellery -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Dev Bhoomi Frozen Food Products
Rationale / Rating Methodologies
FMCG [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Dev Bhoomi Frozen Food Products
Rationale / Rating Methodologies
FMCG [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Dev Cotton & Oil Industries
Rationale / Rating Methodologies
Textiles [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Dev Cotton & Oil Industries
Rationale / Rating Methodologies
Textiles [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Dev Metals and Alloys Pvt. Ltd.
Rationale / Rating Methodologies
Non-ferrous metals [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Dev Metals and Alloys Pvt. Ltd.
Rationale / Rating Methodologies
Non-ferrous metals -- -- [ICRA]D ISSUER NOT COOPERATING -- --
Dev Metals and Alloys Pvt. Ltd.
Rationale / Rating Methodologies
Non-ferrous metals [ICRA]D ISSUER NOT COOPERATING -- [ICRA]D ISSUER NOT COOPERATING -- --
Dev Metals and Alloys Pvt. Ltd.
Rationale / Rating Methodologies
Non-ferrous metals [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Devanga Sangha
Rationale / Rating Methodologies
Education [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
Devdeep Cotton Industries
Rationale / Rating Methodologies
Textiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Devi Iron & Power Pvt. Ltd.
Rationale / Rating Methodologies
Ferrous metals -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Devi Iron & Power Pvt. Ltd.
Rationale / Rating Methodologies
Ferrous metals [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
DH Limited
Rationale / Rating Methodologies
Miscellaneous [ICRA]BBB- ISSUER NOT COOPERATING -- -- -- Stable
DH Limited
Rationale / Rating Methodologies
Miscellaneous -- -- [ICRA]A3 ISSUER NOT COOPERATING -- --
DH Limited
Rationale / Rating Methodologies
Miscellaneous -- -- [ICRA]A3 ISSUER NOT COOPERATING -- --
Dhandu Mariamman Steels
Rationale / Rating Methodologies
Trading [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Dhandu Mariamman Steels
Rationale / Rating Methodologies
Trading [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Dhansmruti Textiles Pvt Ltd
Rationale / Rating Methodologies
Textiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Dhansmruti Textiles Pvt Ltd
Rationale / Rating Methodologies
Textiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Dhansmruti Textiles Pvt Ltd
Rationale / Rating Methodologies
Textiles -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Dhansmruti Textiles Pvt Ltd
Rationale / Rating Methodologies
Textiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Dhanuka Extractions Private Limited
Rationale / Rating Methodologies
Solvent extraction [ICRA]BB ISSUER NOT COOPERATING -- -- -- Stable
Dhanuka Extractions Private Limited
Rationale / Rating Methodologies
Solvent extraction [ICRA]BB ISSUER NOT COOPERATING -- -- -- Stable
Dharamchand Paraschand Exports
Rationale / Rating Methodologies
Gems and jewellery -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Dharamchand Paraschand Exports
Rationale / Rating Methodologies
Gems and jewellery -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Recent Releases

  • Bajaj Electricals Limited: Ratings revised to [ICRA]A-(Negative)/[ICRA]A2+; outlook remains Negative

    Rationale / 15 Nov 2019

  • GTN Industries Limited: Long-term rating upgraded to [ICRA]B(Stable); Short-term rating reaffirmed

    Rationale / 15 Nov 2019

  • T S Alloys Limited: Ratings reaffirmed and placed on Rating watch wT S Alloys Limited: Ratings reaffirmed and placed on Rating watch with developing implications ith developing implications

    Rationale / 15 Nov 2019