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
M Ganesh
Rationale / Rating Methodologies 		Construction [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M Ganesh
Rationale / Rating Methodologies 		Construction [ICRA]B+ ISSUER NOT COOPERATING -- [ICRA]A4 ISSUER NOT COOPERATING -- Stable
M K Roy & Bros Projects Private Limited
Rationale / Rating Methodologies 		Miscellaneous [ICRA]B+ ISSUER NOT COOPERATING -- [ICRA]A4 ISSUER NOT COOPERATING -- Stable
M K Roy & Bros Projects Private Limited
Rationale / Rating Methodologies 		Miscellaneous [ICRA]B+ ISSUER NOT COOPERATING -- [ICRA]A4 ISSUER NOT COOPERATING -- Stable
M K Roy & Bros Projects Private Limited
Rationale / Rating Methodologies 		Miscellaneous [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M L Rice Mills
Rationale / Rating Methodologies 		Agricultural Produce [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M L Rice Mills
Rationale / Rating Methodologies 		Agricultural Produce [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M V Agro Renewable Energy Pvt. Ltd.
Rationale / Rating Methodologies 		Agricultural Produce [ICRA]D ISSUER NOT COOPERATING -- -- -- --
M V Agro Renewable Energy Pvt. Ltd.
Rationale / Rating Methodologies 		Agricultural Produce [ICRA]D ISSUER NOT COOPERATING -- [ICRA]D ISSUER NOT COOPERATING -- --
M V Agro Renewable Energy Pvt. Ltd.
Rationale / Rating Methodologies 		Agricultural Produce [ICRA]D ISSUER NOT COOPERATING -- -- -- --
M.D. Frozen Food Exports
Rationale / Rating Methodologies 		Textiles [ICRA]D ISSUER NOT COOPERATING -- -- -- --
M.D. Frozen Food Exports
Rationale / Rating Methodologies 		Textiles [ICRA]D ISSUER NOT COOPERATING -- -- -- --
M.D. Frozen Food Exports
Rationale / Rating Methodologies 		Textiles [ICRA]D ISSUER NOT COOPERATING -- -- -- --
M.D. Frozen Food Exports
Rationale / Rating Methodologies 		Textiles [ICRA]D ISSUER NOT COOPERATING -- -- -- --
M.D. Frozen Food Exports Private Limited
Rationale / Rating Methodologies 		Textiles [ICRA]D ISSUER NOT COOPERATING -- -- -- --
M.D. Frozen Food Exports Private Limited
Rationale / Rating Methodologies 		Textiles [ICRA]D ISSUER NOT COOPERATING -- -- -- --
M.D. Frozen Food Exports Private Limited
Rationale / Rating Methodologies 		Textiles [ICRA]D ISSUER NOT COOPERATING -- -- -- --
M.G. Brothers Industries Private Limited
Rationale / Rating Methodologies 		Construction equipment [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
M.G. Brothers Industries Private Limited
Rationale / Rating Methodologies 		Construction equipment [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
M.K. Aggarwal Hosiery (P) Limited
Rationale / Rating Methodologies 		Textiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M.K. Aggarwal Hosiery (P) Limited
Rationale / Rating Methodologies 		Textiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M.K. Aggarwal Hosiery (P) Limited
Rationale / Rating Methodologies 		Textiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M.K. Printpack Private Limited
Rationale / Rating Methodologies 		Packaging [ICRA]BB ISSUER NOT COOPERATING -- -- -- Stable
M.K. Printpack Private Limited
Rationale / Rating Methodologies 		Packaging [ICRA]BB ISSUER NOT COOPERATING -- [ICRA]A4+ ISSUER NOT COOPERATING -- Stable
M.K. Printpack Private Limited
Rationale / Rating Methodologies 		Packaging [ICRA]BB ISSUER NOT COOPERATING -- -- -- Stable
M.K. Wood India Private Limited
Rationale / Rating Methodologies 		Timbers and Plywood etc [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M.K. Wood India Private Limited
Rationale / Rating Methodologies 		Timbers and Plywood etc -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
M.M. Brothers
Rationale / Rating Methodologies 		Construction [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M.M. Brothers
Rationale / Rating Methodologies 		Construction -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
M.M. Ispat Pvt Ltd
Rationale / Rating Methodologies 		Trading [ICRA]D ISSUER NOT COOPERATING -- -- -- --
M.M. Ispat Pvt Ltd
Rationale / Rating Methodologies 		Trading [ICRA]D ISSUER NOT COOPERATING -- [ICRA]D ISSUER NOT COOPERATING -- --
M/S B. P. Construction
Rationale / Rating Methodologies 		Construction -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
M/S B. P. Construction
Rationale / Rating Methodologies 		Construction [ICRA]B+ ISSUER NOT COOPERATING -- [ICRA]A4 ISSUER NOT COOPERATING -- Stable
M/S B. P. Construction
Rationale / Rating Methodologies 		Construction [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M/s Jagatpal Singh
Rationale / Rating Methodologies 		Construction [ICRA]B+ ISSUER NOT COOPERATING -- [ICRA]A4 ISSUER NOT COOPERATING -- Stable
M/s Jagatpal Singh
Rationale / Rating Methodologies 		Construction [ICRA]B+ ISSUER NOT COOPERATING -- [ICRA]A4 ISSUER NOT COOPERATING -- Stable
M/s Jagatpal Singh
Rationale / Rating Methodologies 		Construction [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M/s Karun Rice & General Mills
Rationale / Rating Methodologies 		Agricultural Produce [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
M/s Karun Rice & General Mills
Rationale / Rating Methodologies 		Agricultural Produce [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
M/S Kirpa Rice Mills
Rationale / Rating Methodologies 		Agricultural Produce [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M/s Quadros Motors Pvt. Ltd.
Rationale / Rating Methodologies 		Automobile Dealerships [ICRA]D ISSUER NOT COOPERATING -- -- -- --
M/S Shiv Dal Mill
Rationale / Rating Methodologies 		Food and food products [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M/S Shiv Dal Mill
Rationale / Rating Methodologies 		Food and food products [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M/s. Ardhendu Mondal
Rationale / Rating Methodologies 		Miscellaneous [ICRA]D ISSUER NOT COOPERATING -- -- -- --
M/s. Ardhendu Mondal
Rationale / Rating Methodologies 		Miscellaneous -- -- [ICRA]D ISSUER NOT COOPERATING -- --
M/s. Ardhendu Mondal
Rationale / Rating Methodologies 		Miscellaneous [ICRA]D ISSUER NOT COOPERATING -- -- -- --
M/s. Ashutosh Bandyopadhayay
Rationale / Rating Methodologies 		Construction [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
M/s. Ashutosh Bandyopadhayay
Rationale / Rating Methodologies 		Construction [ICRA]B ISSUER NOT COOPERATING -- [ICRA]A4 ISSUER NOT COOPERATING -- Stable
M/S. M. S. Engineering
Rationale / Rating Methodologies 		Construction [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M/S. M.D.Agro Foods
Rationale / Rating Methodologies 		Food and food products [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
M/S. Pankaj C. Patel
Rationale / Rating Methodologies 		Construction [ICRA]B- ISSUER NOT COOPERATING -- -- -- Stable
M/S. Pankaj C. Patel
Rationale / Rating Methodologies 		Construction -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
M/S. Pankaj C. Patel
Rationale / Rating Methodologies 		Construction [ICRA]B- ISSUER NOT COOPERATING -- -- -- Stable
Ma Sarada Cold Storage Private Limited
Rationale / Rating Methodologies 		Logistics [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Ma Sarada Cold Storage Private Limited
Rationale / Rating Methodologies 		Logistics [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Ma Sarada Cold Storage Private Limited
Rationale / Rating Methodologies 		Logistics [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Maa Bameswari Cold Storage Private Limited
Rationale / Rating Methodologies 		Logistics -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Maa Bameswari Cold Storage Private Limited
Rationale / Rating Methodologies 		Logistics [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Maa Bameswari Cold Storage Private Limited
Rationale / Rating Methodologies 		Logistics [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Maa Bameswari Cold Storage Private Limited
Rationale / Rating Methodologies 		Logistics [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Maa Bameswari Cold Storage Private Limited
Rationale / Rating Methodologies 		Logistics [ICRA]B ISSUER NOT COOPERATING -- [ICRA]A4 ISSUER NOT COOPERATING -- Stable
Maa Gauri Poultry Private Limited
Rationale / Rating Methodologies 		Poultry [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Maa Gauri Poultry Private Limited
Rationale / Rating Methodologies 		Poultry [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Maa Kali Alloys Udyog Private Limited
Rationale / Rating Methodologies 		Ferrous metals [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Maa Kali Alloys Udyog Private Limited
Rationale / Rating Methodologies 		Ferrous metals [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Maa Kali Alloys Udyog Private Limited
Rationale / Rating Methodologies 		Ferrous metals -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Maa Sheetla Industries Private Limited
Rationale / Rating Methodologies 		Breweries and Distilleries [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Maa Shitala Agro Private Limited
Rationale / Rating Methodologies 		Agricultural Produce [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Maa Shitala Agro Private Limited
Rationale / Rating Methodologies 		Agricultural Produce [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Maa Shitala Agro Private Limited
Rationale / Rating Methodologies 		Agricultural Produce [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Maa Vaishno Edibles Private Limited
Rationale / Rating Methodologies 		Food and food products [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Maa Vaishno Edibles Private Limited
Rationale / Rating Methodologies 		Food and food products [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Maa Vaishno Edibles Private Limited
Rationale / Rating Methodologies 		Food and food products [ICRA]B ISSUER NOT COOPERATING -- [ICRA]A4 ISSUER NOT COOPERATING -- Stable
Maberest Hotels Private Limited
Rationale / Rating Methodologies 		Tourism Hotels and restaurant -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Maberest Hotels Private Limited
Rationale / Rating Methodologies 		Tourism Hotels and restaurant [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
Maberest Hotels Private Limited
Rationale / Rating Methodologies 		Tourism Hotels and restaurant [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
Machilipatnam Municipality
Rationale / Rating Methodologies 		Public finance [ICRA]BB+ ISSUER NOT COOPERATING -- -- -- Stable
Mad Studios Private Limited
Rationale / Rating Methodologies 		Media & Entertainment [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Mad Studios Private Limited
Rationale / Rating Methodologies 		Media & Entertainment [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Mad Studios Private Limited
Rationale / Rating Methodologies 		Media & Entertainment -- -- [ICRA]D ISSUER NOT COOPERATING -- --
Madhabganj Karunamoyee Himghar Pvt Ltd
Rationale / Rating Methodologies 		Logistics [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Madhabganj Karunamoyee Himghar Pvt Ltd
Rationale / Rating Methodologies 		Logistics [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Madhabganj Karunamoyee Himghar Pvt Ltd
Rationale / Rating Methodologies 		Logistics -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Madhabganj Karunamoyee Himghar Pvt Ltd
Rationale / Rating Methodologies 		Logistics [ICRA]B ISSUER NOT COOPERATING -- [ICRA]A4 ISSUER NOT COOPERATING -- Stable
Madhava Hytech Infrastructures (India) Private Limited
Rationale / Rating Methodologies 		Construction [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Madhava Hytech Infrastructures (India) Private Limited
Rationale / Rating Methodologies 		Construction -- -- [ICRA]D ISSUER NOT COOPERATING -- --
Madhava Hytech Infrastructures (India) Private Limited
Rationale / Rating Methodologies 		Construction [ICRA]D ISSUER NOT COOPERATING -- [ICRA]D ISSUER NOT COOPERATING -- --
Madhucon Granites Limited
Rationale / Rating Methodologies 		Building materials [ICRA]B- ISSUER NOT COOPERATING -- -- -- Stable
Madhucon Granites Limited
Rationale / Rating Methodologies 		Building materials -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Madhucon Granites Limited
Rationale / Rating Methodologies 		Building materials -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Madhucon Projects Limited
Rationale / Rating Methodologies 		Miscellaneous -- -- [ICRA]D ISSUER NOT COOPERATING -- --
Madhucon Projects Limited
Rationale / Rating Methodologies 		Miscellaneous [ICRA]D ISSUER NOT COOPERATING -- [ICRA]D ISSUER NOT COOPERATING -- --
Madhucon Projects Limited
Rationale / Rating Methodologies 		Miscellaneous [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Madhucon Sugar and Power Industries Limited
Rationale / Rating Methodologies 		Sugar [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Madhucon Sugar and Power Industries Limited
Rationale / Rating Methodologies 		Sugar [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Madhucon Sugar and Power Industries Limited
Rationale / Rating Methodologies 		Sugar [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Madhur Engineers Private Limited
Rationale / Rating Methodologies 		Trading [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
Madhusudan Threads
Rationale / Rating Methodologies 		Textiles [ICRA]BB ISSUER NOT COOPERATING -- -- -- Stable
Madhusudan Threads
Rationale / Rating Methodologies 		Textiles [ICRA]BB ISSUER NOT COOPERATING -- -- -- Stable
Madhusudan Threads
Rationale / Rating Methodologies 		Textiles [ICRA]BB ISSUER NOT COOPERATING -- -- -- Stable
Recent Releases
  • G Corp Homes Private Limited: Ratings re-affirmed

    Rationale / 20 Feb 2020

  • Indiabulls Housing Finance Limited: Long-term rating revised to [ICRA]AA (Stable) and short-term rating reaffirmed; rated limits revised

    Rationale / 20 Feb 2020

  • Sobha Limited: Long-term rating reaffirmed at [ICRA]A+; outlook revised from Stable to Negative; rated amount enhanced

    Rationale / 20 Feb 2020

Read more
ICRA Special Comments
Coronavirus outbreak in China could disrupt India’s automotive supply chain if it persists longer
Auto Components / Feb 2020 Indian Gems and Jewellery Industry - Cut and Polished Diamond Segment: Outlook revised to negative in the wake of Corona virus related threat
Jewellery / Feb 2020 Indian Poultry Industry: Profitability to contract sharply in FY2020 due to multiple headwinds
Poultry / Feb 2020 Read more