Jyothy Labs financials and balance sheet

NSE: JYOTHYLABBSE: 532926Household ProductsSmall Cap

Formerly Jyothy Laboratories

₹175.36₹2.01 (1.13%)BSE ₹175.25

Share price at the NSE close on 23 Oct 2026. Previous close ₹177.37.

52-week range of traded prices to 23 Oct 2026

₹171.27Low, 23 Oct 2026₹323.20High, 23 Oct 2025

Next results date: the board meets on 4 Nov 2026 to consider: financial results.

Market cap: ₹6,439 Cr603rd largest listed
P/E: 22.7
P/B: 4.1
Dividend yield: 2.00%
ROE: 19.1%
ROCE: 20.6%
Debt to equity: 0.00
Volume, NSE: 3,08,48744.4% delivered

10 years at a glance

Standalone: the listed company alone, without its subsidiaries. ₹ crore, years to March.Jyothy Labs annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 7.8% of operating profit in the first full year.

The years either side of a change of basis do not compare. From the year to Mar 2023, the company's revenue for that year, ₹2,482 Cr, differs from its quarters added, ₹2,447 Cr.

Results for the year to Mar 2026

Standalone: the listed company alone, without its subsidiaries. ₹ crore.

From revenue to net profit

Revenue2,944
Materials and goods−1,562
Employee costs−341
Other expenses−591
Operating profit450
Depreciation−61
Other income+68
One-off items0.0
Finance costs−5.0
Profit before tax451
Tax−118
Net profit333

What the company owns

Plant, investments and other assets₹835 Cr
Current investments₹506 Cr
Inventory₹344 Cr
Cash and bank₹310 Cr
Receivables₹257 Cr

What pays for it: net worth and liabilities

Net worth₹1,589 Cr
Other liabilities₹347 Cr
Owed to suppliers₹317 Cr

Jyothy Labs business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Standalone, ₹ crore, as the company reports them. A segment at a loss has no share of profit.Jyothy Labs segment results by quarter

Revenue by segment

₹2,944 CrTotal

Fabric Care₹1,346 Cr45.7% of total
Dishwashing₹959 Cr32.6% of total
Personal Care₹321 Cr10.9% of total
Household Insecticides₹196 Cr6.7% of total
Others₹122 Cr4.2% of total

Profit by segment

Fabric Care₹268 Cr60.4% of total
Dishwashing₹151 Cr33.9% of total
Personal Care₹25 Cr5.7% of total

Segment results by year

Standalone from the year to Mar 2026, consolidated before, ₹ crore, years to March.

Fabric Care
Revenue, ₹ crore
730
708
669
817
1,056
1,189
1,249
1,346
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
163
143
138
124
173
287
295
268
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Dishwashing
Revenue, ₹ crore
587
567
699
798
865
937
972
959
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
73
80
135
93
133
180
183
151
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Personal Care
Revenue, ₹ crore
192
180
217
234
254
308
305
321
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
57
48
49
36
26
40
35
25
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Household Insecticides
Revenue, ₹ crore
224
181
258
265
212
212
199
196
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
3
−16
−7
−8
−20
−34
−25
−5
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Others
Revenue, ₹ crore
40
33
44
56
51
111
123
122
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−3
−2
−3
−3
0
2
4
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	1,814	1,711	1,909	2,196	2,486	2,757	2,847	2,944
Company revenue, as in its results	1,814	1,711	1,909	2,196	2,486	2,757	2,847	2,944
Revenue	730	708	669	817	1,056	1,189	1,249	1,346
Revenue growth	–	−3.0%	−5.5%	22.1%	29.3%	12.6%	5.0%	–
Profit	163	143	138	124	173	287	295	268
Profit growth	–	−12.5%	−3.1%	−10.6%	39.6%	66.5%	2.6%	–
Margin	22.3%	20.1%	20.6%	15.1%	16.3%	24.2%	23.6%	19.9%
Return on capital	–	71.7%	100.1%	85.3%	120.3%	268.6%	198.9%	193.4%
Assets	–	307	276	309	327	334	400	423
Liabilities	–	109	138	164	183	227	252	285
Capital employed	–	199	138	145	143	107	148	139
Revenue	587	567	699	798	865	937	972	959
Revenue growth	–	−3.5%	23.4%	14.1%	8.4%	8.3%	3.7%	–
Profit	73	80	135	93	133	180	183	151
Profit growth	–	9.1%	69.2%	−31.2%	42.9%	36.0%	1.6%	–
Margin	12.5%	14.1%	19.3%	11.6%	15.3%	19.3%	18.9%	15.7%
Return on capital	–	74.9%	144.7%	98.5%	171.6%	241.5%	181.0%	124.0%
Assets	–	197	226	252	243	263	304	310
Liabilities	–	91	133	158	166	188	202	189
Capital employed	–	106	93	94	77	75	101	121
Revenue	192	180	217	234	254	308	305	321
Revenue growth	–	−6.0%	20.5%	7.5%	8.7%	21.1%	−0.9%	–
Profit	57	48	49	36	26	40	35	25
Profit growth	–	−15.7%	2.6%	−27.5%	−27.3%	53.4%	−11.1%	–
Margin	29.6%	26.5%	22.6%	15.2%	10.2%	12.9%	11.6%	7.9%
Return on capital	–	101.5%	129.1%	109.8%	116.1%	280.6%	70.8%	73.8%
Assets	–	81	82	77	67	75	107	95
Liabilities	–	34	44	44	45	61	57	60
Capital employed	–	47	38	32	22	14	50	34
Revenue	224	181	258	265	212	212	199	196
Revenue growth	–	−19.1%	42.3%	2.8%	−20.2%	0.3%	−6.5%	–
Profit	3	−16	−7	−8	−20	−34	−25	−5
Margin	1.5%	−9.1%	−2.9%	−3.0%	−9.6%	−16.1%	−12.5%	−2.4%
Return on capital	–	−17.8%	−16.8%	−12.6%	−40.5%	−56.0%	−42.3%	−7.4%
Assets	–	142	119	131	104	114	107	112
Liabilities	–	50	76	68	54	53	49	49
Capital employed	–	92	44	63	50	61	58	63
Revenue	40	33	44	56	51	111	123	122
Revenue growth	–	−17.0%	32.6%	25.3%	−9.1%	120.2%	10.8%	–
Profit	−3	−2	−3	−3	0	2	4	0
Profit growth	–	–	–	–	–	414.7%	104.6%	–
Margin	−6.6%	−6.5%	−6.0%	−5.8%	0.7%	1.6%	2.9%	−0.2%
Return on capital	–	−18.8%	−30.7%	−27.1%	3.0%	2.0%	3.7%	−0.7%
Assets	–	16	16	21	17	108	122	51
Liabilities	–	4	8	10	5	20	25	23
Capital employed	–	12	9	12	11	89	97	27
Revenue	40	41	20	27	49	–	–	–
Revenue growth	–	2.5%	−50.4%	32.1%	80.2%	–	–	–
Profit	−10	−10	−13	−9	−5	–	–	–
Margin	−23.9%	−24.6%	−61.6%	−32.2%	−10.6%	–	–	–
Return on capital	–	−8.9%	−11.7%	−8.9%	−5.9%	–	–	–
Assets	–	128	118	109	104	–	–	–
Liabilities	–	14	10	12	16	–	–	–
Capital employed	–	114	107	97	88	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Standalone, ₹ crore, years to March.Jyothy Labs quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 8 May	Mar 2020Filed 5 Jun	Mar 2021Filed 18 May	Mar 2022Filed 25 May	Mar 2023Filed 4 May	Mar 2024Filed 16 May	Mar 2025Filed 12 Jun	Mar 2026Filed 4 May
Revenue from operations	1,698	1,718	1,769	1,665	1,885	2,166	2,482	2,754	2,844	2,944
	1,438	1,440	1,483	1,416	1,568	1,917	2,166	2,274	2,344	2,494
Materials and goods bought	887	869	962	892	1,004	1,279	1,433	1,402	1,418	1,562
Employee costs	–	–	189	200	221	235	264	300	325	341
Other expenses	–	–	333	323	343	402	470	572	601	591
Operating profit before depreciation	260	277	286	250	317	249	316	480	500	450
Operating margin	15.3%	16.2%	16.2%	15.0%	16.8%	11.5%	12.7%	17.4%	17.6%	15.3%
Materials, % of revenue	–	–	54.4%	53.6%	53.3%	59.1%	57.7%	50.9%	49.8%	53.0%
Employee costs, % of revenue	–	–	10.7%	12.0%	11.7%	10.9%	10.6%	10.9%	11.4%	11.6%
Other expenses, % of revenue	–	–	18.8%	19.4%	18.2%	18.6%	18.9%	20.8%	21.1%	20.1%
Depreciation and amortisation	55	57	58	76	78	79	50	50	56	61
Operating profit after depreciation	205	221	227	174	239	171	266	430	444	389
Other income	11	30	28	20	20	19	39	54	55	68
Finance costs	51	42	28	25	12	7	13	5	6	5
Profit before one-off items and tax	166	208	228	169	247	183	292	479	493	451
One-off items	–	–	0	−4	−24	0	7	0	−4	0
Profit before tax	166	208	228	166	223	183	299	479	490	451
	−36	48	34	8	33	27	59	109	118	118
Current tax	–	–	47	27	37	32	54	79	79	68
Deferred tax	–	–	−13	−19	−4	−5	5	30	40	50
Net profit	202	161	193	158	190	156	240	370	371	333
Other comprehensive income	–	–	−1	−3	0	0	1	−1	−2	0
Total comprehensive income	–	–	192	155	191	156	241	369	369	333
Net margin	11.9%	9.3%	10.9%	9.5%	10.1%	7.2%	9.7%	13.4%	13.1%	11.3%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2017 and Mar 2018 they do not, so they are left blank.

Earlier years, Jun 2008 to Mar 2016

₹ crore	Jun 2008	Mar 20099 months	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016
Revenue from operations	375	352	582	608	663	1,019	1,260	1,438	1,575
	312	301	480	520	–	–	–	–	–
Materials and goods bought	184	197	311	311	147	625	305	318	307
Operating profit before depreciation	63	51	101	88	–	–	–	–	–
Operating margin	16.8%	14.5%	17.4%	14.4%	–	–	–	–	–
Depreciation and amortisation	7	7	10	11	–	–	–	–	–
Operating profit after depreciation	56	44	91	77	–	–	–	–	–
Other income	8	7	11	19	57	50	56	66	57
Finance costs	1	0	0	0	19	66	53	12	5
Profit before one-off items and tax	–	51	101	96	103	46	109	149	201
One-off items	6	–	–	–	–	−2	−2	−2	–
Profit before tax	69	51	101	96	103	44	106	147	201
Tax	17	10	21	15	20	–	0	4	39
Net profit	52	40	80	80	84	44	106	143	162
Net margin	14.0%	11.4%	13.8%	13.2%	12.6%	4.3%	8.4%	9.9%	10.3%

Standalone, ₹ crore, years to June, then March.

Balance sheet

Standalone, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 8 May	Mar 2020Filed 5 Jun	Mar 2021Filed 18 May	Mar 2022Filed 25 May	Mar 2023Filed 4 May	Mar 2024Filed 16 May	Mar 2025Filed 12 Jun	Mar 2026Filed 4 May
	854	743	934	943	881	1,141	1,383	1,589
Share capital	37	37	37	37	37	37	37	37
Reserves	817	707	897	906	845	1,105	1,346	1,552
Borrowings	215	221	50	25	0	0	0	0
	520	461	402	414	406	480	511	556
Trade payables	175	127	190	234	214	276	290	317
Other financial liabilities	38	37	45	47	50	59	63	59
Other liabilities	58	53	95	91	117	117	123	119
Provisions	31	22	17	13	22	28	31	56
Tax owed	3	0	4	5	3	0	3	6
	38	85	88	94	104	110	131	107
Other financial liabilities	4	29	27	22	28	26	37	26
Other liabilities	–	3	2	7	6	4	3	7
Provisions	35	53	59	65	71	80	91	73
Total assets	1,412	1,289	1,424	1,450	1,392	1,732	2,024	2,252
	812	850	784	746	625	601	612	759
Plant in use, after depreciation	272	270	277	272	280	286	292	347
Plant being built	14	24	10	7	15	13	22	10
Intangible assets	97	111	78	41	49	52	62	52
Goodwill	103	103	103	103	105	105	105	105
Investments	142	139	141	142	6	6	0	0
Loans given	8	9	8	0	0	0	0	0
Other financial assets	1	4	0	15	15	16	15	196
Deferred tax	76	96	100	105	99	74	42	3
Other assets	100	94	67	62	55	48	74	47
	600	439	639	704	767	1,131	1,411	1,493
Inventories	201	223	277	294	300	282	328	344
Trade receivables	148	120	87	136	132	196	274	257
Cash and cash equivalents	68	7	70	73	106	84	77	53
Other bank balances	19	13	121	133	177	81	65	257
Current investments	100	0	0	0	0	192	456	506
Loans given	0	7	29	0	0	0	0	0
Other financial assets	6	3	3	5	2	264	163	5
Other assets	57	67	53	62	50	32	47	71
Net debt	28	201	−141	−181	−283	−357	−599	−816

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Standalone, ₹ crore, years to March.

₹ crore	Mar 2021Filed 18 May	Mar 2022Filed 25 May	Mar 2023Filed 4 May	Mar 2024Filed 16 May	Mar 2025Filed 12 Jun	Mar 2026Filed 4 May
	386	202	329	458	312	473
	420	234	385	537	410	474
	88	−27	51	39	−106	12
Receivables	32	−49	5	−64	−82	19
Inventories	−54	−18	−5	11	−47	−16
Payables	63	43	−22	62	14	26
Other working capital	47	−4	72	29	8	−17
Tax paid	−34	−32	−57	−79	−98	−1
Capital spending	25	26	35	37	58	67
Free cash flow	361	177	294	421	253	406
	−127	−5	−48	−344	−161	−338
Plant and property sold	0	0	23	23	0	1
Interest received	3	3	7	21	21	17
	−196	−194	−251	−135	−157	−160
Borrowings raised	146	196	5	0	0	0
Borrowings repaid	−316	−221	−130	0	0	0
Interest paid	−8	−3	−10	0	0	−4
Lease payments	0	−20	0	−25	−29	−27
Dividends paid	0	147	92	110	129	129
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0
Net change in cash	63	3	30	−21	−7	−25

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Standalone, ₹ per share, years to March.Jyothy Labs dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 8 May	Mar 2020Filed 5 Jun	Mar 2021Filed 18 May	Mar 2022Filed 25 May	Mar 2023Filed 4 May	Mar 2024Filed 16 May	Mar 2025Filed 12 Jun	Mar 2026Filed 4 May
	₹5.56	₹4.42	₹5.29	₹4.29	₹5.18	₹4.25	₹6.52	₹10.07	₹10.11	₹9.07
As stated that year	₹11.12	₹8.83	₹5.29	₹4.29	₹5.18	₹4.25	₹6.52	₹10.07	₹10.11	₹9.07
	₹5.56	₹4.37	₹5.29	₹4.29	₹5.18	₹4.25	₹6.52	₹10.07	₹10.11	₹9.07
As stated that year	₹11.12	₹8.74	₹5.29	₹4.29	₹5.18	₹4.25	₹6.52	₹10.07	₹10.11	₹9.07
	₹3.00	₹0.50	₹3.00	₹3.00	₹4.00	₹2.50	₹3.00	₹3.50	₹3.50	₹3.50
As declared that year	₹6.00	₹0.50	₹3.00	₹3.00	₹4.00	₹2.50	₹3.00	₹3.50	₹3.50	₹3.50
Book value per share	–	–	₹23.26	₹20.24	₹25.43	₹25.68	₹24.00	₹31.08	₹37.65	₹43.26
Dividend payout	54.0%	11.3%	57.0%	69.9%	77.2%	58.8%	46.0%	34.7%	34.6%	38.6%
Shareholder yield	–	–	–	–	0.0%	2.7%	1.3%	0.7%	1.1%	1.8%
Market cap at the year end (₹ crore)	6,405	7,196	6,720	3,386	5,023	5,414	6,995	16,155	12,070	7,243

Every year is restated for later splits and bonuses, so they do not break the line. The figure the company stated that year is under each line it differs from.

Ratios

Standalone, years to March.Jyothy Labs PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 8 May	Mar 2020Filed 5 Jun	Mar 2021Filed 18 May	Mar 2022Filed 25 May	Mar 2023Filed 4 May	Mar 2024Filed 16 May	Mar 2025Filed 12 Jun	Mar 2026Filed 4 May
Revenue growth	–	1.1%	3.0%	−5.9%	13.2%	14.9%	–	11.0%	3.3%	3.5%
Operating profit growth	–	6.6%	3.0%	−12.6%	26.8%	−21.2%	–	52.1%	4.1%	−10.0%
Net profit growth	–	−20.5%	20.3%	−18.4%	20.6%	−17.9%	–	54.4%	0.3%	−10.2%
Earnings per share growth	–	−20.6%	19.8%	−18.9%	20.7%	−18.0%	–	54.4%	0.4%	−10.3%
	–	–	22.6%	19.7%	22.7%	16.6%	26.3%	36.6%	29.4%	22.4%
	–	–	–	−2.9 pts	2.9 pts	−6.1 pts	9.6 pts	10.3 pts	−7.2 pts	−7.0 pts
From the net margin	–	–	–	−3.0 pts	1.3 pts	−6.5 pts	5.6 pts	10.3 pts	−1.0 pts	−3.9 pts
From asset turnover	–	–	–	−0.3 pts	2.7 pts	1.4 pts	3.5 pts	0.4 pts	−5.0 pts	−2.3 pts
From borrowing	–	–	–	0.4 pts	−1.0 pts	−0.9 pts	0.4 pts	−0.3 pts	−1.1 pts	−0.8 pts
Return on capital employed	–	–	21.3%	18.1%	24.3%	17.7%	30.1%	37.7%	32.1%	24.5%
Cash conversion	–	–	–	–	203.0%	129.7%	137.3%	123.8%	83.9%	142.0%
Interest cover	4.0	5.2	8.2	7.0	20.4	25.6	20.3	90.9	74.8	77.9
Debt to equity	–	–	0.25	0.30	0.05	0.03	0.00	0.00	0.00	0.00
Receivable days	–	–	31	26	17	23	19	26	35	32
Inventory days	–	–	76	91	101	84	76	73	84	80
Payable days	–	–	66	52	69	67	55	72	75	74
Cash conversion cycle, days	–	–	40	65	48	40	41	28	45	38
Working capital days	–	–	22	39	19	18	12	39	39	15
Asset turnover	–	–	1.25	1.23	1.39	1.51	1.75	1.76	1.51	1.38
Assets per rupee of net worth	–	–	1.65	1.69	1.62	1.53	1.56	1.54	1.49	1.44
Sales per rupee of plant	–	–	6.52	6.17	6.82	7.98	8.85	9.61	9.73	8.48
Capital spending to depreciation	–	–	–	–	0.32	0.33	0.71	0.74	1.04	1.09
Plant being built, % of plant in use	–	–	5.2%	8.8%	3.6%	2.7%	5.5%	4.6%	7.7%	2.7%

Revenue growth, net profit growth and earnings per share growth are left blank for the year to Mar 2017: between the two periods the company restated its earlier figures, so the two are on different bases and the change is not worked out. Revenue growth, operating profit growth, net profit growth and earnings per share growth are left blank for the year to Mar 2023: between the two periods the company restated its earlier figures, so the two are on different bases and the change is not worked out. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Standalone: the listed company alone, without its subsidiaries. Each window ends with the year to Mar 2026.

Return on assets, latest year: 15.6%
Cash from operations against operating profit: 105.2%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	6.5%	9.3%	5.9%
Profit growth, yearly rate	7.5%	11.9%	11.6%
Return on equity, average	–	26.3%	29.5%
Return on capital employed, average	–	28.4%	31.4%
Operating margin, average	15.4%	14.9%	16.8%
Net margin, average	10.6%	10.9%	12.6%
Asset turnover, average	–	1.58	1.55
Cash conversion cycle, days, average	–	38	37
Interest cover, average	33.4	57.9	81.2
Debt to equity, average	–	0.01	0.00

Where the cash came from and went

Standalone: the listed company alone, without its subsidiaries. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	1,774	1,243	473
Cash from investing	−897	−844	−338
Cash from financing	−897	−452	−160
Capital spending	223	162	67
Dividends paid	606	367	129
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	201	0	0
Borrowings repaid	351	0	0

Accounting checks

Standalone, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	4
Altman Z-scorePublished threshold 1.81	9.99
Beneish M-scorePublished threshold −1.78	−2.71
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	9.26
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	1.16
Receivables growth less revenue growthOur threshold 0 percentage points	−10.03
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	−5.19
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	−4.57
Assets under construction, years of additionsOur threshold 2 years of additions	0.08
Effective tax ratePublished threshold 17.16 per cent	26.15
Tax charged less tax paid, % of profitOur threshold 10 percentage points	25.92

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
23 Sep 2026	CARE Ratings Limited (opens in a new tab)	Fund-based - LT-Cash Credit	CARE AAReview, Re-affirm	Stable	250
16 Sep 2025	CARE Ratings Limited (opens in a new tab)	Commercial Paper	WithdrawnReview, Other

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.