Shipping Corporation of India financials and balance sheet

NSE: SCIBSE: 523598Transport ServicesSmall Cap

₹237.80₹14.05 (5.58%)BSE ₹237.95

Share price at the NSE close on 23 Oct 2026. Previous close ₹251.85.

52-week range of traded prices to 23 Oct 2026

₹195.55Low, 27 Jan 2026₹368.75High, 11 May 2026

Market cap: ₹11,077 Cr493rd largest listed
P/E: 6.8
P/B: 1.2
Dividend yield: 3.15%
ROE: 18.6%
ROCE: 12.8%
Debt to equity: 0.27
Volume, NSE: 44,05,45345.4% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Shipping Corporation of India annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

A loss in 1 of the 10 years shown

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 0.1% 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 2020, the company's revenue for that year, ₹4,425 Cr, differs from its quarters added, ₹4,503 Cr. From the year to Mar 2023, part of the business was demerged on 31 Mar 2023, and figures before the change include the part that left.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue5,780
Employee costs−584
Other expenses−3,010
Operating profit2,185
Depreciation−1,064
Other income+447
One-off items0.0
Finance costs−173
Profit before tax1,395
Tax−70
Joint ventures+28
Net profit1,353

What the company owns

Plant, investments and other assets₹11,417 Cr
Receivables₹1,192 Cr
Cash and bank₹349 Cr
Inventory₹274 Cr
Current investments₹86 Cr

What pays for it: net worth and liabilities

Net worth₹9,096 Cr
Borrowings₹2,477 Cr
Owed to suppliers₹1,211 Cr
Other liabilities₹534 Cr

Shipping Corporation of India business segments, year to Mar 2026

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

Revenue by segment

₹5,813 CrTotal

Tanker₹3,942 Cr67.8% of total
Bulk Carrier₹789 Cr13.6% of total
Liner₹784 Cr13.5% of total
Technical & Offshore₹298 Cr5.1% of total

Profit by segment

Tanker₹1,190 Cr91.5% of total
Liner₹75 Cr5.8% of total
Technical & Offshore₹35 Cr2.7% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Tanker
Revenue, ₹ crore
2,462
2,958
2,309
2,050
3,516
3,417
3,610
3,942
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
242
737
508
−283
822
606
680
1,190
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Bulk Carrier
Revenue, ₹ crore
586
570
526
1,153
819
666
711
789
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
33
−13
11
570
204
24
−22
−19
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Liner
Revenue, ₹ crore
633
645
602
1,469
1,129
461
1,036
784
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−90
−131
76
612
−31
−187
166
75
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Technical & Offshore
Revenue, ₹ crore
228
287
265
327
372
536
276
298
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−13
74
−49
21
13
160
32
35
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	3,926	4,479	3,707	5,012	5,835	5,080	5,633	5,813
Company revenue, as in its results	3,926	4,425	3,703	4,995	5,794	5,047	5,606	5,780
Revenue	2,462	2,958	2,309	2,050	3,516	3,417	3,610	3,942
Revenue growth	–	20.2%	−21.9%	−11.2%	71.5%	−2.8%	5.6%	9.2%
Profit	242	737	508	−283	822	606	680	1,190
Profit growth	–	204.9%	−31.1%	–	–	−26.4%	12.3%	74.9%
Margin	9.8%	24.9%	22.0%	−13.8%	23.4%	17.7%	18.8%	30.2%
Return on capital	–	15.1%	10.4%	−6.1%	17.6%	13.5%	15.3%	27.4%
Assets	–	6,000	5,480	5,566	5,464	5,207	4,898	5,735
Liabilities	–	1,131	602	895	800	721	442	1,391
Capital employed	–	4,868	4,878	4,671	4,663	4,486	4,456	4,345
Revenue	586	570	526	1,153	819	666	711	789
Revenue growth	–	−2.7%	−7.7%	119.0%	−29.0%	−18.7%	6.8%	10.9%
Profit	33	−13	11	570	204	24	−22	−19
Profit growth	–	–	–	4,957.5%	−64.3%	−88.4%	–	–
Margin	5.6%	−2.2%	2.1%	49.5%	24.9%	3.6%	−3.1%	−2.4%
Return on capital	–	−1.3%	1.1%	59.7%	18.5%	1.9%	−2.1%	−1.9%
Assets	–	1,722	1,584	1,566	1,845	1,906	1,606	1,654
Liabilities	–	732	556	611	745	663	528	623
Capital employed	–	990	1,028	956	1,101	1,243	1,078	1,030
Revenue	633	645	602	1,469	1,129	461	1,036	784
Revenue growth	–	1.9%	−6.7%	144.2%	−23.2%	−59.2%	124.8%	−24.3%
Profit	−90	−131	76	612	−31	−187	166	75
Profit growth	–	–	–	706.1%	–	–	–	−55.0%
Margin	−14.2%	−20.4%	12.6%	41.7%	−2.8%	−40.6%	16.0%	9.5%
Return on capital	–	–	–	1,550.8%	–	−209.8%	35.2%	46.8%
Assets	–	682	512	477	432	481	1,223	877
Liabilities	–	729	907	437	628	391	750	717
Capital employed	–	−46	−395	39	−196	89	472	160
Revenue	228	287	265	327	372	536	276	298
Revenue growth	–	25.7%	−7.7%	23.4%	13.7%	44.1%	−48.4%	7.8%
Profit	−13	74	−49	21	13	160	32	35
Profit growth	–	–	–	–	−35.6%	1,102.6%	−79.6%	8.7%
Margin	−5.6%	25.8%	−18.6%	6.3%	3.6%	29.8%	11.8%	11.8%
Return on capital	–	9.5%	−5.8%	2.2%	1.3%	13.9%	4.8%	5.2%
Assets	–	1,214	1,385	1,513	1,604	1,734	887	889
Liabilities	–	431	539	586	545	584	205	217
Capital employed	–	783	846	927	1,059	1,151	682	673
Revenue	17	19	5	13	–	–	–	–
Profit	−2	2	−9	−3	–	–	–	–
Margin	−10.1%	10.0%	−179.2%	−20.0%	–	–	–	–
Return on capital	–	25.0%	−163.0%	−20.4%	–	–	–	–
Assets	–	12	9	15	–	–	–	–
Liabilities	–	5	3	3	–	–	–	–
Capital employed	–	8	5	12	–	–	–	–
Revenue	–	–	56	14	–	100	74	95
Profit	–	–	0	76	–	0	0	0
Assets	–	–	0	0	–	0	0	0
Liabilities	–	–	0	0	–	0	0	0
Revenue	128	108	–	–	25	–	–	–
Profit	0	0	–	–	0	–	–	–
Assets	0	0	–	–	0	–	–	–
Liabilities	0	0	–	–	0	–	–	–

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

Profit and loss

Consolidated, ₹ crore, years to March.Shipping Corporation of India quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 29 May	Mar 2020Filed 30 May	Mar 2021Filed 14 May	Mar 2022Filed 7 May	Mar 2023Filed 11 May	Mar 2024Filed 18 May	Mar 2025Filed 12 Jun	Mar 2026Filed 8 May
Revenue from operations	3,447	3,469	3,926	4,425	3,703	4,995	5,794	5,047	5,606	5,780
	2,677	2,798	3,315	3,285	2,545	3,469	4,238	3,624	3,842	3,594
Materials and goods bought	–	–	0	0	0	0	0	0	0	0
Employee costs	–	–	452	477	474	485	478	503	568	584
Other expenses	–	–	2,862	2,809	2,072	2,983	3,760	3,121	3,273	3,010
Operating profit before depreciation	770	672	611	1,140	1,158	1,526	1,556	1,423	1,764	2,185
Operating margin	22.3%	19.4%	15.6%	25.8%	31.3%	30.6%	26.9%	28.2%	31.5%	37.8%
Materials, % of revenue	–	–	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Employee costs, % of revenue	–	–	11.5%	10.8%	12.8%	9.7%	8.2%	10.0%	10.1%	10.1%
Other expenses, % of revenue	–	–	72.9%	63.5%	55.9%	59.7%	64.9%	61.8%	58.4%	52.1%
Depreciation and amortisation	566	610	658	671	628	635	753	889	951	1,064
Operating profit after depreciation	204	61	−47	469	530	891	803	533	813	1,122
Other income	145	148	218	243	126	104	113	216	195	447
Finance costs	172	180	246	364	21	158	184	171	186	173
One-off items	0	0	0	0	0	0	0	0	0	0
Profit before tax	177	29	−75	348	635	837	732	578	821	1,395
	42	−224	47	45	17	43	−67	−34	8	70
Current tax	–	60	60	61	36	43	−67	−34	9	70
Deferred tax	–	−284	−12	−16	−20	0	0	0	−1	0
Share of profit of joint ventures and associates	40	53	59	34	78	71	71	68	31	28
Net profit	176	307	−63	336	696	865	870	679	844	1,353
Other comprehensive income	–	–	11	−36	23	76	73	−21	−48	41
Total comprehensive income	–	–	−52	300	719	941	944	658	796	1,394
Net margin	5.1%	8.8%	−1.6%	7.6%	18.8%	17.3%	15.0%	13.5%	15.0%	23.4%
Net margin without joint ventures and associates	3.9%	7.3%	−3.1%	6.8%	16.7%	15.9%	13.8%	12.1%	14.5%	22.9%

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.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 29 May	Mar 2020Filed 30 May	Mar 2021Filed 14 May	Mar 2022Filed 7 May	Mar 2023Filed 11 May	Mar 2024Filed 18 May	Mar 2025Filed 12 Jun	Mar 2026Filed 8 May
	7,183	7,484	8,168	9,097	6,902	7,540	8,312	9,096
Share capital	466	466	466	466	466	466	466	466
Reserves	6,717	7,018	7,702	8,631	6,437	7,074	7,846	8,630
	4,114	3,664	3,086	3,177	2,583	2,893	1,934	2,477
Repayable after a year	2,527	1,677	2,664	2,146	1,659	1,566	1,509	1,931
Repayable within a year	1,587	1,986	423	1,031	924	1,328	425	546
	4,246	4,370	2,212	2,645	2,792	2,916	1,629	2,158
Trade payables	1,276	956	833	1,238	1,395	1,335	808	1,211
Other financial liabilities	1,281	1,296	781	219	302	172	260	316
Other liabilities	92	121	167	142	155	71	127	74
Provisions	9	10	9	14	17	10	9	11
	2,716	1,842	2,806	2,238	1,748	1,644	1,760	2,065
Other financial liabilities	0	24	0	22	21	20	184	71
Other liabilities	–	0	22	0	0	0	0	0
Provisions	98	65	63	69	67	57	66	61
Deferred tax	92	75	56	1	1	1	1	1
Liabilities going with businesses held for sale	205	223	218	273	–	–	–	–
	14,350	13,919	13,403	14,253	11,443	12,100	11,701	13,319
Held for sale or for a demerger	0	0	–	2,392	–	–	–	–
	11,629	11,477	11,100	8,910	8,753	8,451	8,126	8,508
Plant in use, after depreciation	11,117	10,652	10,174	7,625	7,403	7,003	6,711	7,198
Plant being built	8	3	33	58	34	42	4	5
Intangible assets	3	1	1	0	0	0	1	0
Investments	4	4	3	4	4	0	0	0
Stakes in joint ventures and associates	276	295	351	472	606	652	645	682
Loans given	20	225	232	208	222	0	0	0
Other financial assets	0	0	0	201	9	243	250	270
Deferred tax	121	201	–	0	329	346	337	152
Other assets	82	96	307	342	146	164	179	199
	2,722	2,442	2,302	2,950	2,690	3,649	3,575	4,811
Inventories	160	131	88	175	150	174	193	274
Trade receivables	599	606	631	637	1,018	1,411	1,193	1,192
Cash and cash equivalents	95	245	225	137	317	842	140	115
Other bank balances	903	693	811	1,270	236	473	442	234
Current investments	0	0	0	0	0	0	176	86
Loans given	224	8	8	2	2	2	2	2
Other financial assets	477	563	333	542	744	505	1,246	2,711
Tax paid in advance	35	0	–	0	0	0	0	0
Other assets	229	195	208	188	223	243	185	197
Net debt	3,116	2,726	2,051	1,770	2,029	1,579	1,177	2,042

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

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 14 May	Mar 2022Filed 7 May	Mar 2023Filed 11 May	Mar 2024Filed 18 May	Mar 2025Filed 12 Jun	Mar 2026Filed 8 May
	1,340	1,644	1,465	994	850	1,343
	1,370	1,704	1,515	978	849	1,228
	180	96	−99	−500	−1,031	−1,130
Receivables	−31	−3	−382	−452	139	66
Inventories	44	−87	25	−24	−19	−81
Payables	−105	372	180	−26	−548	350
Other working capital	272	−186	79	2	−603	−1,465
Tax paid	−30	−61	−50	16	1	115
Capital spending	197	492	476	512	292	1,550
Free cash flow	1,144	1,151	990	482	558	−207
	−207	−1,080	−519	−559	−316	−858
Plant and property sold	1	0	0	64	0	54
Interest received	54	71	61	87	63	296
Dividends received	0	0	0	0	47	37
	−1,154	−653	−930	103	−1,236	−518
Borrowings raised	0	0	0	941	0	776
Borrowings repaid	−993	−574	−801	−659	−1,009	−400
Interest paid	−112	−62	−109	−153	−127	−141
Lease payments	−1	−2	−2	−2	−61	−125
Dividends paid	35	12	15	20	23	609
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0
Net change in cash	−21	−89	16	538	−702	−32

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.

Consolidated, ₹ per share, years to March.Shipping Corporation of India dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 29 May	Mar 2020Filed 30 May	Mar 2021Filed 14 May	Mar 2022Filed 7 May	Mar 2023Filed 11 May	Mar 2024Filed 18 May	Mar 2025Filed 12 Jun	Mar 2026Filed 8 May
Earnings per share	₹3.77	₹6.58	−₹1.35	₹7.22	₹14.94	₹18.57	₹18.68	₹14.58	₹18.11	₹29.05
Diluted earnings per share	₹3.77	₹6.58	−₹1.35	₹7.22	₹14.94	₹18.57	₹18.68	₹14.58	₹18.11	₹29.05
Dividend per share	–	–	–	₹0.75	₹0.25	₹0.33	₹0.44	₹0.50	₹6.59	₹7.50
Book value per share	–	–	₹154.21	₹160.66	₹175.34	₹195.30	₹148.18	₹161.86	₹178.44	₹195.28
Dividend payout	–	–	–	10.4%	1.7%	1.8%	2.4%	3.4%	36.4%	25.8%
Shareholder yield	–	–	–	–	0.7%	0.2%	0.4%	0.2%	0.3%	5.9%
Market cap at the year end (₹ crore)	3,570	2,988	1,761	1,747	5,156	5,373	4,360	9,726	7,699	10,234

Ratios

Consolidated, years to March.Shipping Corporation of India PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 29 May	Mar 2020Filed 30 May	Mar 2021Filed 14 May	Mar 2022Filed 7 May	Mar 2023Filed 11 May	Mar 2024Filed 18 May	Mar 2025Filed 12 Jun	Mar 2026Filed 8 May
Revenue growth	–	0.7%	13.2%	–	−16.3%	34.9%	–	−12.9%	11.1%	3.1%
Operating profit growth	–	−12.8%	−9.0%	–	1.6%	31.8%	–	−8.6%	24.0%	23.9%
Net profit growth	–	74.5%	–	–	106.9%	24.3%	–	−22.0%	24.2%	60.4%
Earnings per share growth	–	74.5%	–	–	106.9%	24.3%	–	−21.9%	24.2%	60.4%
	–	–	−0.9%	4.6%	8.9%	–	–	9.4%	10.6%	15.5%
	–	–	–	5.5 pts	4.3 pts	–	–	–	1.2 pts	4.9 pts
From the net margin	–	–	–	5.0 pts	6.8 pts	–	–	–	1.1 pts	5.9 pts
From asset turnover	–	–	–	0.6 pts	−1.5 pts	–	–	–	1.0 pts	−0.3 pts
From borrowing	–	–	–	−0.2 pts	−0.9 pts	–	–	–	−0.9 pts	−0.7 pts
Return on capital employed	–	–	−0.4%	4.2%	4.7%	–	8.5%	5.1%	7.9%	9.7%
Cash conversion	–	–	–	–	192.5%	190.0%	168.4%	146.4%	100.7%	99.3%
Interest cover	1.2	0.3	–	1.3	25.1	5.6	4.4	3.1	4.4	6.5
Debt to equity	–	–	0.57	0.49	0.38	–	0.37	0.38	0.23	0.27
Receivable days	–	–	56	50	62	–	64	102	78	75
Working capital days	–	–	−87	−73	−51	–	17	54	105	175
Asset turnover	–	–	0.27	0.31	0.27	–	–	0.43	0.47	0.46
Assets per rupee of net worth	–	–	2.00	1.93	1.75	–	–	1.63	1.50	1.44
Sales per rupee of plant	–	–	0.35	0.42	0.36	0.66	0.78	0.72	0.84	0.80
Capital spending to depreciation	–	–	–	–	0.31	0.77	0.63	0.58	0.31	1.46
Plant being built, % of plant in use	–	–	0.1%	0.0%	0.3%	0.8%	0.5%	0.6%	0.1%	0.1%

Interest cover is left blank for the year to Mar 2019: operating profit after depreciation is a loss, and a loss covers no interest bill. Revenue growth and operating profit growth are left blank for the year to Mar 2020: between the two periods the company restated its earlier figures, so the two are on different bases and the change is not worked out. Return on equity, asset turnover and assets per rupee of net worth are left blank for the years to Mar 2022 and Mar 2023: a tenth or more of the assets on the balance sheet it is worked from are held for sale or for a demerger, so it would mix the business being kept with the part that is leaving. Change in return on equity, from the net margin, from asset turnover and from borrowing are left blank for the years to Mar 2022, Mar 2023 and Mar 2024: a tenth or more of the assets on the balance sheet it is worked from are held for sale or for a demerger, so it would mix the business being kept with the part that is leaving. Debt to equity, receivable days, inventory days, payable days, cash conversion cycle, days, return on capital employed and working capital days are left blank for the year to Mar 2022: a tenth or more of the assets on the balance sheet it is worked from are held for sale or for a demerger, so it would mix the business being kept with the part that is leaving. 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 demerged a business, 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

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 10.8%
Cash from operations against operating profit: 61.5%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	–	9.3%	−0.1%
Profit growth, yearly rate	–	14.2%	15.8%
Return on equity, average	–	–	11.9%
Return on capital employed, average	–	7.8%	7.6%
Operating margin, average	26.9%	31.0%	32.5%
Net margin, average	12.3%	16.9%	17.3%
Asset turnover, average	–	–	0.45
Interest cover, average	5.8	4.8	4.6
Debt to equity, average	–	0.32	0.30

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	6,296	3,187	1,343
Cash from investing	−3,332	−1,733	−858
Cash from financing	−3,233	−1,650	−518
Capital spending	3,322	2,354	1,550
Dividends paid	679	652	609
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	1,717	1,717	776
Borrowings repaid	3,442	2,068	400

Accounting checks

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

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	6	8	6	7	8	6
Altman Z-scorePublished threshold 1.1	–	–	1.96	2.30	3.88	4.44	3.91	4.45	6.43	6.47
Beneish M-scorePublished threshold −1.78	–	–	–	–	−2.47	−1.61	−2.56	−2.22	−2.49	−2.60
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−3.20	2.18	−0.59	2.07	2.61	6.93
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	1.83	1.70	1.38	1.11
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	−11.50	20.32	−33.80	43.76	51.48	−26.54	−3.14
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	0.40	−5.89	3.78	4.10	−4.35	12.18	25.57
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.01	0.22	–	0.06	0.09	0.01	0.00
Effective tax ratePublished threshold 17.16 per cent	23.55	−760.75	–	13.00	2.63	5.18	−9.17	−5.83	1.00	5.01
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	−2.05	−15.98	−8.64	0.93	−3.23

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
15 Sep 2026	Acuite Ratings & Research Limited (opens in a new tab)	Bank Loan Ratings	ACUITE AA+Review, Re-affirm	Positive	6,374
15 Sep 2026	Acuite Ratings & Research Limited (opens in a new tab)	Bank Loan Ratings	ACUITE A1+Review, Re-affirm		1,126

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