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
Z Estates Private Limited
Rationale / Rating Methodologies
Real estate ^ -- -- -- --
Z Square Shopping Mall Private Limited
Rationale / Rating Methodologies
Real estate ^ -- -- -- --
Z V Steels Private Limited
Rationale / Rating Methodologies
Trading * -- * -- --
Zacci Diamond India Private Limited
Rationale / Rating Methodologies
Miscellaneous ^ -- -- -- --
Zadafiya Creations Pvt. Ltd.
Rationale / Rating Methodologies
Textiles [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Zadafiya Creations Pvt. Ltd.
Rationale / Rating Methodologies
Textiles [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Zamil Steel Buildings India Private Limited
Rationale / Rating Methodologies
Engineering * -- * -- --
Zandros Granito LLP
Rationale / Rating Methodologies
Ceramic tiles [ICRA]B+ -- -- -- Stable
Zandros Granito LLP
Rationale / Rating Methodologies
Ceramic tiles [ICRA]B+ -- -- -- Stable
Zandros Granito LLP
Rationale / Rating Methodologies
Ceramic tiles -- -- [ICRA]A4 -- --
Zanzar Jewellers Private Limited
Rationale / Rating Methodologies
Gems and jewellery ^ -- -- -- --
Zaveri Exports Private Limited
Rationale / Rating Methodologies
Gems and jewellery [ICRA]B- ISSUER NOT COOPERATING -- -- -- Stable
Zazsons Exports Limited
Rationale / Rating Methodologies
Miscellaneous ^ -- ^ -- --
Zeal Metaliks Private Limited
Rationale / Rating Methodologies
Gems and jewellery ^ -- ^ -- --
Zealtop Granito Private Limited
Rationale / Rating Methodologies
Ceramic tiles ^ -- ^ -- --
Zeba Agro Pvt. Ltd.
Rationale / Rating Methodologies
Miscellaneous ^ -- -- -- --
Zeco Aircon Ltd
Rationale / Rating Methodologies
Building materials [ICRA]BBB -- -- -- Stable
Zeco Aircon Ltd
Rationale / Rating Methodologies
Building materials [ICRA]BBB -- -- -- Stable
Zeco Aircon Ltd
Rationale / Rating Methodologies
Building materials -- -- [ICRA]A2 -- --
Zeco Aircon Ltd
Rationale / Rating Methodologies
Building materials [ICRA]BBB -- [ICRA]A2 -- Stable
Zed Vitrified Private Limited
Rationale / Rating Methodologies
Ceramic tiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Zed Vitrified Private Limited
Rationale / Rating Methodologies
Ceramic tiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Zed Vitrified Private Limited
Rationale / Rating Methodologies
Ceramic tiles -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Zed Vitrified Private Limited
Rationale / Rating Methodologies
Ceramic tiles -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Zed Vitrified Private Limited
Rationale / Rating Methodologies
Ceramic tiles [ICRA]B+ ISSUER NOT COOPERATING -- [ICRA]A4 ISSUER NOT COOPERATING -- Stable
Zee Fabrics Inc
Rationale / Rating Methodologies
Textiles ^ -- -- -- --
Zee Media Corporation Limited
Rationale / Rating Methodologies
Media & Entertainment * -- * -- --
Zeiss Pharmaceuticals Pvt. Ltd.
Rationale / Rating Methodologies
Miscellaneous * -- -- -- --
ZenBrain Systems Private Limited
Rationale / Rating Methodologies
Real estate ^ -- -- -- --
ZenBrain Systems Private Limited
Rationale / Rating Methodologies
Real estate ^ -- -- -- --
Zenica Cars India Private Limited
Rationale / Rating Methodologies
Automobile Dealerships [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Zenica Performance Cars Private Limited
Rationale / Rating Methodologies
Automobile Dealerships -- -- [ICRA]D ISSUER NOT COOPERATING -- --
Zenica Performance Cars Private Limited
Rationale / Rating Methodologies
Automobile Dealerships [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Zenith Computers Limited
Rationale / Rating Methodologies
Information Technology and BPO ^ -- -- -- --
Zenith Engineering Corporation
Rationale / Rating Methodologies
Electronics and Electricals ^ -- -- -- --
Zenith Exports Limited
Rationale / Rating Methodologies
Textiles -- -- [ICRA]A4 -- --
Zenith Exports Limited
Rationale / Rating Methodologies
Textiles [ICRA]B+ -- [ICRA]A4 -- Stable
Zenith Forge Private Limited
Rationale / Rating Methodologies
Auto Ancillaries * -- -- -- --
Zenith Forge Private Limited
Rationale / Rating Methodologies
Auto Ancillaries -- -- * -- --
Zenith Forge Private Limited
Rationale / Rating Methodologies
Auto Ancillaries * -- -- -- --
Zenith Forge Private Limited
Rationale / Rating Methodologies
Auto Ancillaries -- -- * -- --
Zenith Rockproducts Private Limited
Rationale / Rating Methodologies
Trading ^ -- -- -- --
Zensar Technologies Limited
Rationale / Rating Methodologies
Information Technology and BPO [ICRA]AA+ -- [ICRA]A1+ -- Stable
Zest Infrastructure Private Limited
Rationale / Rating Methodologies
Real estate * -- -- -- --
Zeta Industrial Corporation Private Limited
Rationale / Rating Methodologies
Electronics and Electricals [ICRA]B- ISSUER NOT COOPERATING -- -- -- Stable
Zeta Industrial Corporation Private Limited
Rationale / Rating Methodologies
Electronics and Electricals [ICRA]B- ISSUER NOT COOPERATING -- -- -- Stable
Zeta Industrial Corporation Private Limited
Rationale / Rating Methodologies
Electronics and Electricals [ICRA]B- ISSUER NOT COOPERATING -- -- -- Stable
Zeta Microns LLP
Rationale / Rating Methodologies
Utilities [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Zeta Microns LLP
Rationale / Rating Methodologies
Utilities [ICRA]B ISSUER NOT COOPERATING -- -- -- Stable
Zeta Microns LLP
Rationale / Rating Methodologies
Utilities -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Zetatek Industries Limited
Rationale / Rating Methodologies
Engineering * -- * -- --
Zetek Castings Private Limited
Rationale / Rating Methodologies
Engineering [ICRA]BB ISSUER NOT COOPERATING -- -- -- Stable
Zetek Castings Private Limited
Rationale / Rating Methodologies
Engineering [ICRA]BB ISSUER NOT COOPERATING -- -- -- Stable
Zetek Castings Private Limited
Rationale / Rating Methodologies
Engineering [ICRA]BB ISSUER NOT COOPERATING -- -- -- Stable
Zetek Castings Private Limited
Rationale / Rating Methodologies
Engineering -- -- [ICRA]A4+ ISSUER NOT COOPERATING -- --
ZF Hero Chassis Systems Private Limited
Rationale / Rating Methodologies
Automobile OEMs -- -- [ICRA]A2+ -- --
ZF Hero Chassis Systems Private Limited
Rationale / Rating Methodologies
Automobile OEMs [ICRA]A- -- -- -- Stable
ZF Hero Chassis Systems Private Limited
Rationale / Rating Methodologies
Automobile OEMs [ICRA]A- -- -- -- Stable
ZF Steering Gear (India) Limited
Rationale / Rating Methodologies
Auto Ancillaries [ICRA]A+ -- -- -- Negative
ZF Steering Gear (India) Limited
Rationale / Rating Methodologies
Auto Ancillaries [ICRA]A+ -- -- -- Negative
ZF Steering Gear (India) Limited
Rationale / Rating Methodologies
Auto Ancillaries -- -- [ICRA]A1+ -- --
ZH Chemicals Private Limited
Rationale / Rating Methodologies
Chemicals ^ -- -- -- --
Zibon Ceramic Pvt. Ltd.
Rationale / Rating Methodologies
Ceramic tiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Zibon Ceramic Pvt. Ltd.
Rationale / Rating Methodologies
Ceramic tiles [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Zibon Ceramic Pvt. Ltd.
Rationale / Rating Methodologies
Ceramic tiles -- -- [ICRA]A4 ISSUER NOT COOPERATING -- --
Zibon Ceramic Pvt. Ltd.
Rationale / Rating Methodologies
Ceramic tiles [ICRA]B+ ISSUER NOT COOPERATING -- [ICRA]A4 ISSUER NOT COOPERATING -- Stable
Zillion Infraprojects Private Limited (Formerly known as Durha Constructions Private Limited)
Rationale / Rating Methodologies
Construction [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Zillion Infraprojects Private Limited (Formerly known as Durha Constructions Private Limited)
Rationale / Rating Methodologies
Construction [ICRA]D ISSUER NOT COOPERATING -- -- -- --
Zinka Logistics Solutions Private Limited
Rationale / Rating Methodologies
Logistics -- -- [ICRA]A4+ -- --
Zinka Logistics Solutions Private Limited
Rationale / Rating Methodologies
Logistics -- -- [ICRA]A4+ -- --
Zinzuwadia Brothers Jewellers
Rationale / Rating Methodologies
Gems and jewellery [ICRA]BB- ISSUER NOT COOPERATING -- -- -- Stable
Zip Industries Limited
Rationale / Rating Methodologies
Miscellaneous ^ -- -- -- --
Zippy Edible Products Private Limited
Rationale / Rating Methodologies
Solvent extraction [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Zippy Edible Products Private Limited
Rationale / Rating Methodologies
Solvent extraction [ICRA]B+ ISSUER NOT COOPERATING -- -- -- Stable
Ziv Diamonds Private Limited
Rationale / Rating Methodologies
Gems and jewellery ^ -- -- -- --
ZKL Bearings (India) Private Limited
Rationale / Rating Methodologies
Distributors ^ -- ^ -- --
Zodiac Clothing Company Limited
Rationale / Rating Methodologies
Textiles -- -- [ICRA]A2 -- --
Zodiac Clothing Company Limited
Rationale / Rating Methodologies
Textiles -- -- [ICRA]A2 -- --
Zodiac Clothing Company Limited
Rationale / Rating Methodologies
Textiles -- -- * -- --
ZR Renewable Energy Private Limited
Rationale / Rating Methodologies
Miscellaneous * -- -- -- --
Zuari Agro Chemicals Limited
Rationale / Rating Methodologies
Fertilisers [ICRA]D -- -- -- --
Zuari Agro Chemicals Limited
Rationale / Rating Methodologies
Fertilisers [ICRA]D -- -- -- --
Zuari Agro Chemicals Limited
Rationale / Rating Methodologies
Fertilisers [ICRA]D -- -- -- --
Zuari Agro Chemicals Limited
Rationale / Rating Methodologies
Fertilisers -- -- [ICRA]D -- --
Zuari Agro Chemicals Limited
Rationale / Rating Methodologies
Fertilisers [ICRA]D -- -- -- --
Zuari Agro Chemicals Limited
Rationale / Rating Methodologies
Fertilisers -- -- [ICRA]D -- --
Zuari Fertilisers & Chemicals Limited
Rationale / Rating Methodologies
Fertilisers * -- * -- --
Zuari Rotem Specialty Fertilisers Limited
Rationale / Rating Methodologies
Fertilisers ^ -- ^ -- --
Zuberi Engineering Company
Rationale / Rating Methodologies
Construction * -- * -- --
Zuri Hospitality Private Limited
Rationale / Rating Methodologies
Tourism Hotels and restaurant [ICRA]B+ -- -- -- Stable
Zuri Hospitality Private Limited
Rationale / Rating Methodologies
Tourism Hotels and restaurant -- -- [ICRA]A4 -- --
Zuri Hotels and Resorts Private Limited
Rationale / Rating Methodologies
Tourism Hotels and restaurant [ICRA]BB+ -- -- -- Negative
Zuri Hotels and Resorts Private Limited
Rationale / Rating Methodologies
Tourism Hotels and restaurant [ICRA]BB+ -- -- -- Negative
Zylog Plastalloys Private Limited
Rationale / Rating Methodologies
Auto Ancillaries * -- * -- --
Zylog Systems Limited
Rationale / Rating Methodologies
Information Technology and BPO ^ -- ^ -- --
Recent Releases

  • Madura Micro Finance Limited: Rating placed on Watch with Positive Implications

    Rationale / 06 Dec 2019

  • India Infoline Finance Limited: Ratings assigned

    Rationale / 06 Dec 2019

  • Vistaar Financial Services Pvt Ltd : Provisional ratings assigned to pass through certificates (PTCs) issued under a small business loan securitization transaction by Northern Arc 2019 SBL Apostle

    Rationale / 06 Dec 2019