Texmaco Rail & Engineering financials and balance sheet

NSE: TEXRAILBSE: 533326Industrial ManufacturingSmall Cap

₹98.50₹6.11 (5.84%)BSE ₹98.70

Share price at the NSE close on 23 Oct 2026. Previous close ₹104.61.

52-week range of traded prices to 23 Oct 2026

₹78.05Low, 30 Mar 2026₹142.95High, 26 Dec 2025

Market cap: ₹4,008 Cr822nd largest listed
P/E: 18.6
P/B: 1.7
Dividend yield: 0.76%
ROE: 8.3%
ROCE: 10.0%
Debt to equity: 0.36
Volume, NSE: 25,61,61247.8% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Texmaco Rail & Engineering 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 0.0% 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 2025, the company's revenue for that year, ₹5,107 Cr, differs from its quarters added, ₹4,910 Cr.

Results for the year to Mar 2026

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

From revenue to net profit

Revenue4,377
Materials and goods−3,555
Employee costs−184
Other expenses−247
Operating profit390
Depreciation−47
Other income+37
One-off items−3.1
Finance costs−123
Profit before tax255
Tax−84
Joint ventures+23
Net profit194

What the company owns

Plant, investments and other assets₹2,509 Cr
Receivables₹1,248 Cr
Inventory₹868 Cr
Cash and bank₹232 Cr
Current investments₹197 Cr

What pays for it: net worth and liabilities

Net worth₹2,412 Cr
Other liabilities₹1,166 Cr
Borrowings₹873 Cr
Owed to suppliers₹603 Cr

Texmaco Rail & Engineering 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.Texmaco Rail & Engineering segment results by quarter

Revenue by segment

₹4,377 CrTotal

Freight Car Division₹3,419 Cr78.1% of total
Infra-Electrical₹610 Cr13.9% of total
Infra- Rail & Green Energy₹348 Cr8.0% of total

Profit by segment

Freight Car Division₹284 Cr81.1% of total
Infra-Electrical₹66 Cr18.9% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Freight Car Division
Revenue, ₹ crore
2,750
4,301
3,419
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
212
389
284
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Infra-Electrical
Revenue, ₹ crore
226
367
610
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
24
44
66
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Infra- Rail & Green Energy
Revenue, ₹ crore
527
438
348
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−6
−29
−27
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Real Estate
Revenue, ₹ crore
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
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	2,005	2,020	1,829	1,814	2,600	3,503	5,107	4,377
Company revenue, as in its results	1,858	1,832	1,689	1,622	2,243	3,503	5,107	4,377
Revenue	–	–	–	–	–	2,750	4,301	3,419
Revenue growth	–	–	–	–	–	–	56.4%	−20.5%
Profit	–	–	–	–	–	212	389	284
Profit growth	–	–	–	–	–	–	83.4%	−27.0%
Margin	–	–	–	–	–	7.7%	9.0%	8.3%
Return on capital	–	–	–	–	–	19.7%	27.6%	18.1%
Assets	–	–	–	–	–	2,195	3,059	3,047
Liabilities	–	–	–	–	–	1,117	1,650	1,477
Capital employed	–	–	–	–	–	1,078	1,409	1,570
Revenue	–	–	–	–	–	226	367	610
Revenue growth	–	–	–	–	–	–	62.7%	66.1%
Profit	–	–	–	–	–	24	44	66
Profit growth	–	–	–	–	–	–	85.8%	48.4%
Margin	–	–	–	–	–	10.6%	12.1%	10.8%
Return on capital	–	–	–	–	–	14.5%	19.5%	30.1%
Assets	–	–	–	–	–	324	363	496
Liabilities	–	–	–	–	–	159	135	277
Capital employed	–	–	–	–	–	165	228	219
Revenue	–	–	–	–	–	527	438	348
Revenue growth	–	–	–	–	–	–	−16.9%	−20.5%
Profit	–	–	–	–	–	−6	−29	−27
Margin	–	–	–	–	–	−1.1%	−6.6%	−7.9%
Return on capital	–	–	–	–	–	−0.7%	−3.2%	−3.1%
Assets	–	–	–	–	–	1,232	1,169	1,117
Liabilities	–	–	–	–	–	377	255	226
Capital employed	–	–	–	–	–	856	915	891
	–	–	–	–	–	–	–	0
Profit	–	–	–	–	–	–	–	0
Return on capital	–	–	–	–	–	–	–	−2.1%
Assets	–	–	–	–	–	–	–	22
Liabilities	–	–	–	–	–	–	–	0
Capital employed	–	–	–	–	–	–	–	22
Revenue	951	824	778	758	735	–	–	–
Revenue growth	–	−13.3%	−5.7%	−2.5%	−3.0%	–	–	–
Profit	83	−108	52	46	43	–	–	–
Profit growth	–	–	–	−11.2%	−7.0%	–	–	–
Margin	8.7%	−13.1%	6.6%	6.0%	5.8%	–	–	–
Return on capital	–	−40.6%	15.6%	10.6%	7.1%	–	–	–
Assets	–	1,351	1,224	1,228	1,317	–	–	–
Liabilities	–	1,086	893	798	716	–	–	–
Capital employed	–	265	330	431	600	–	–	–
Revenue	785	848	732	720	1,319	–	–	–
Revenue growth	–	8.0%	−13.7%	−1.6%	83.2%	–	–	–
Profit	23	34	14	37	18	–	–	–
Profit growth	–	44.9%	−57.6%	162.1%	−51.7%	–	–	–
Margin	3.0%	4.0%	2.0%	5.2%	1.4%	–	–	–
Return on capital	–	8.6%	3.9%	9.3%	8.3%	–	–	–
Assets	–	974	881	914	1,419	–	–	–
Liabilities	–	581	512	511	1,201	–	–	–
Capital employed	–	393	369	404	219	–	–	–
Revenue	269	348	320	336	546	–	–	–
Revenue growth	–	29.4%	−8.1%	5.1%	62.4%	–	–	–
Profit	29	40	14	9	31	–	–	–
Profit growth	–	36.5%	−64.6%	−37.2%	247.3%	–	–	–
Margin	11.0%	11.6%	4.5%	2.7%	5.7%	–	–	–
Return on capital	–	15.0%	4.6%	2.1%	6.6%	–	–	–
Assets	–	462	406	444	545	–	–	–
Liabilities	–	194	95	25	76	–	–	–
Capital employed	–	268	311	419	469	–	–	–
	0	–	–	–	–	–	–	–
Profit	5	–	–	–	–	–	–	–
Assets	0	–	–	–	–	–	–	–
Liabilities	0	–	–	–	–	–	–	–

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

Profit and loss

Consolidated, ₹ crore, years to March.Texmaco Rail & Engineering quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 15 May	Mar 2020Filed 19 Jun	Mar 2021Filed 15 May	Mar 2022Filed 24 May	Mar 2023Filed 13 May	Mar 2024Filed 17 May	Mar 2025Filed 12 Jun	Mar 2026Filed 12 May
Revenue from operations	1,357	1,151	1,858	1,832	1,689	1,622	2,243	3,503	5,107	4,377
	1,283	1,087	1,688	1,672	1,570	1,482	2,098	3,239	4,639	3,987
Materials and goods bought	1,043	862	1,428	1,390	1,327	1,222	1,799	2,865	4,182	3,555
Employee costs	–	–	113	128	117	126	130	139	171	184
Other expenses	–	–	147	153	127	133	169	235	287	247
Operating profit before depreciation	74	64	170	160	119	140	145	264	467	390
Operating margin	5.5%	5.5%	9.1%	8.7%	7.0%	8.6%	6.5%	7.5%	9.2%	8.9%
Materials, % of revenue	–	–	76.9%	75.9%	78.6%	75.4%	80.2%	81.8%	81.9%	81.2%
Employee costs, % of revenue	–	–	6.1%	7.0%	6.9%	7.8%	5.8%	4.0%	3.3%	4.2%
Other expenses, % of revenue	–	–	7.9%	8.4%	7.5%	8.2%	7.5%	6.7%	5.6%	5.6%
Depreciation and amortisation	22	25	29	36	37	36	35	38	43	47
Operating profit after depreciation	52	39	141	124	81	104	110	225	424	343
Other income	46	48	15	21	25	22	26	70	58	37
Finance costs	58	61	70	97	103	100	116	133	137	123
Profit before one-off items and tax	39	26	86	48	3	26	20	162	345	258
One-off items	0	0	0	−150	0	0	0	0	0	−3
Profit before tax	39	26	86	−102	3	26	20	162	345	255
	12	12	13	−33	0	14	9	66	119	84
Current tax	–	–	1	4	0	0	0	15	50	57
Deferred tax	–	–	12	−37	0	14	9	51	69	27
Share of profit of joint ventures and associates	2	−1	3	4	8	8	14	17	23	23
	29	13	75	−65	12	21	26	113	249	194
Belonging to the company's shareholders	27	13	75	−65	14	21	26	113	249	195
Belonging to outside owners of subsidiaries	–	–	0	0	−2	0	–	0	0	−2
Other comprehensive income	–	–	0	−14	23	10	2	1	−1	5
Total comprehensive income	–	–	75	−79	35	31	28	114	248	198
Net margin	2.2%	1.1%	4.1%	−3.5%	0.7%	1.3%	1.2%	3.2%	4.9%	4.4%
Net margin without joint ventures and associates	2.0%	1.2%	3.9%	−3.8%	0.2%	0.8%	0.5%	2.7%	4.4%	3.9%

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 15 May	Mar 2020Filed 19 Jun	Mar 2021Filed 15 May	Mar 2022Filed 24 May	Mar 2023Filed 13 May	Mar 2024Filed 17 May	Mar 2025Filed 12 Jun	Mar 2026Filed 12 May
	1,139	1,027	1,139	1,328	1,390	2,530	2,830	2,412
	1,139	1,027	1,141	1,331	1,392	2,533	2,797	2,374
Share capital	22	22	25	32	32	40	40	41
Reserves	1,117	1,005	1,116	1,298	1,360	2,493	2,757	2,333
Belonging to outside owners of subsidiaries	0	0	−2	−2	−2	−3	33	38
	574	750	763	710	982	630	925	873
Repayable after a year	50	53	36	64	164	242	356	318
Repayable within a year	524	697	727	646	819	388	569	555
	1,456	1,622	1,338	1,148	1,732	1,333	1,570	2,236
Trade payables	556	554	430	312	569	676	639	603
Other financial liabilities	35	55	61	33	36	25	39	43
Other liabilities	328	148	89	132	289	217	262	295
Provisions	12	167	32	26	19	27	62	739
	57	239	165	188	264	322	436	406
Other financial liabilities	0	–	0	0	91	1	15	20
Other liabilities	0	178	119	115	0	70	43	7
Provisions	6	8	9	9	9	9	12	14
Deferred tax	0	–	0	0	0	0	10	46
Total assets	2,651	2,888	2,642	2,664	3,385	4,185	4,837	5,054
	535	619	611	565	658	709	1,254	1,388
Plant in use, after depreciation	391	404	375	359	401	428	883	909
Plant being built	14	7	4	2	9	22	64	165
Intangible assets	1	1	1	0	2	5	27	33
Goodwill	0	0	0	0	0	0	56	56
Intangible assets being developed	0	–	0	0	0	0	2	0
Property held to earn rent	0	31	30	29	28	27	26	25
Investments	72	66	96	77	104	134	163	176
Loans given	2	6	6	0	0	0	0	0
Other financial assets	7	21	17	27	41	51	32	16
Deferred tax	43	82	82	69	60	22	–	0
Other assets	5	–	0	0	12	19	–	9
	2,116	2,270	2,031	2,099	2,727	3,476	3,583	3,666
Inventories	450	537	309	361	676	724	852	868
Trade receivables	820	645	611	570	785	882	1,367	1,248
Cash and cash equivalents	22	17	23	56	31	27	57	90
Other bank balances	26	67	83	117	122	381	154	142
Current investments	71	35	35	0	0	290	83	197
Loans given	5	15	19	23	15	5	4	4
Other financial assets	0	–	0	0	0	25	16	19
Tax paid in advance	7	22	31	53	58	18	11	19
Other assets	715	933	919	920	1,040	1,125	1,040	1,079
Net debt	456	631	622	537	829	−68	632	444

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 15 May	Mar 2022Filed 24 May	Mar 2023Filed 13 May	Mar 2024Filed 17 May	Mar 2025Filed 12 Jun	Mar 2026Filed 12 May
	40	27	−103	96	−47	363
	−50	49	−98	84	−11	422
	−89	−111	−268	−238	−536	13
Receivables	48	37	−337	−208	−430	80
Inventories	228	−52	−315	−47	−128	−16
Payables	−365	−97	384	17	23	−51
Other working capital	0	0	0	0	0	0
Tax paid	−9	−22	−5	12	−44	−56
Interest paid	103	0	0	0	0	0
Capital spending	0	16	53	82	533	167
Free cash flow	40	11	−156	14	−579	196
	−23	20	−76	−633	−96	−231
Plant and property sold	−8	0	0	0	162	0
Interest received	−1	−2	22	15	16	10
Dividends received	0	2	1	0	0	0
	−13	−12	151	533	172	−101
Borrowings raised	30	12	273	78	296	0
Borrowings repaid	−19	−81	0	−431	0	−52
Interest paid	−100	−101	−118	−138	−137	−123
Lease payments	0	0	0	0	−1	−3
Dividends paid	2	3	3	5	20	30
Shares bought back	0	0	0	0	0	0
Shares issued	79	161	0	1,031	0	143
Net change in cash	4	36	−28	−4	30	31

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.Texmaco Rail & Engineering dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 15 May	Mar 2020Filed 19 Jun	Mar 2021Filed 15 May	Mar 2022Filed 24 May	Mar 2023Filed 13 May	Mar 2024Filed 17 May	Mar 2025Filed 12 Jun	Mar 2026Filed 12 May
Earnings per share	₹1.23	₹0.58	₹3.43	−₹2.88	₹0.53	₹0.75	₹0.81	₹3.29	₹6.24	₹4.84
Diluted earnings per share	₹1.23	₹0.58	₹3.35	−₹2.88	₹0.53	₹0.75	₹0.81	₹3.29	₹6.21	₹4.84
Dividend per share	₹0.25	₹0.25	₹0.35	₹0.10	₹0.10	₹0.10	₹0.15	₹0.50	₹0.75	₹0.75
Book value per share	–	–	₹51.75	₹45.69	₹45.59	₹41.34	₹43.25	₹63.41	₹70.02	₹58.35
Dividend payout	20.3%	43.5%	10.2%	–	17.7%	15.7%	18.7%	17.6%	12.0%	15.6%
Shareholder yield	–	–	–	–	−12.8%	−11.8%	0.2%	−16.2%	0.4%	−3.5%
Market cap at the year end (₹ crore)	1,952	1,831	1,518	438	600	1,342	1,366	6,317	5,381	3,206

Ratios

Consolidated, years to March.Texmaco Rail & Engineering PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 15 May	Mar 2020Filed 19 Jun	Mar 2021Filed 15 May	Mar 2022Filed 24 May	Mar 2023Filed 13 May	Mar 2024Filed 17 May	Mar 2025Filed 12 Jun	Mar 2026Filed 12 May
Revenue growth	42.3%	−15.2%	61.5%	−1.4%	−7.8%	−4.0%	38.3%	56.1%	–	−14.3%
Operating profit growth	111.8%	−13.8%	166.1%	−5.9%	−25.7%	18.1%	3.7%	81.2%	–	−16.4%
Net profit growth	122.1%	−57.0%	496.4%	–	–	70.7%	25.7%	337.8%	–	−22.2%
Earnings per share growth	–	−52.8%	491.4%	–	–	41.5%	8.0%	306.2%	–	−22.4%
	–	–	6.6%	−6.0%	1.3%	1.7%	1.9%	5.8%	9.3%	7.5%
	–	–	–	−12.6 pts	7.3 pts	0.4 pts	0.2 pts	3.9 pts	3.6 pts	−1.8 pts
From the net margin	–	–	–	−12.4 pts	7.4 pts	0.7 pts	−0.1 pts	3.4 pts	2.9 pts	−0.8 pts
From asset turnover	–	–	–	0.3 pts	−0.1 pts	0.0 pts	0.3 pts	1.3 pts	1.9 pts	−1.9 pts
From borrowing	–	–	–	−0.5 pts	0.0 pts	−0.3 pts	0.1 pts	−0.9 pts	−1.3 pts	0.9 pts
Return on capital employed	–	–	8.2%	7.0%	4.3%	5.1%	4.6%	7.1%	11.3%	10.5%
Cash conversion	–	–	–	–	335.3%	132.4%	−398.5%	84.8%	−18.7%	187.4%
Interest cover	0.9	0.6	2.0	1.3	0.8	1.0	0.9	1.7	3.1	2.8
Debt to equity	–	–	0.50	0.73	0.67	0.53	0.71	0.25	0.33	0.36
Receivable days	–	–	161	128	132	128	128	92	98	104
Inventory days	–	–	115	141	85	108	137	92	74	89
Payable days	–	–	142	145	118	93	115	86	56	62
Cash conversion cycle, days	–	–	134	124	99	143	150	98	116	131
Working capital days	–	–	209	244	276	321	270	191	164	130
Asset turnover	–	–	0.70	0.66	0.61	0.61	0.74	0.93	1.13	0.89
Assets per rupee of net worth	–	–	2.33	2.56	2.55	2.15	2.22	1.93	1.69	1.91
Sales per rupee of plant	–	–	4.75	4.53	4.50	4.52	5.60	8.18	5.78	4.82
Capital spending to depreciation	–	–	–	–	0.00	0.44	1.50	2.15	12.34	3.55
Plant being built, % of plant in use	–	–	3.5%	1.8%	1.0%	0.7%	2.3%	5.2%	7.2%	18.1%

Revenue growth, operating profit growth, net profit growth and earnings per share growth are left blank for the year to Mar 2025: 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

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

Return on assets, latest year: 3.9%
Cash from operations against operating profit: 92.9%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	16.5%	21.0%	25.0%
Profit growth, yearly rate	30.9%	69.0%	96.3%
Return on equity, average	–	5.2%	7.6%
Return on capital employed, average	–	7.7%	9.6%
Operating margin, average	7.7%	8.1%	8.5%
Net margin, average	1.9%	3.0%	4.2%
Asset turnover, average	–	0.86	0.98
Cash conversion cycle, days, average	–	128	115
Interest cover, average	1.5	1.9	2.5
Debt to equity, average	–	0.44	0.31

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	336	412	363
Cash from investing	−1,015	−959	−231
Cash from financing	743	604	−101
Capital spending	850	782	167
Dividends paid	60	55	30
Shares bought back	0	0	0
Shares issued for cash	1,335	1,174	143
Borrowings raised	658	374	0
Borrowings repaid	564	483	52

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	7	4	5	4	5
Altman Z-scorePublished threshold 1.81	–	–	2.39	1.53	1.95	2.48	2.12	4.91	4.29	2.83
Beneish M-scorePublished threshold −1.78	–	–	–	–	−2.50	−2.65	−1.89	−2.11	−1.57	−2.67
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−0.19	−1.02	6.77	17.17	8.67	1.25
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	−0.61	0.13	−0.14	0.74
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	−19.99	2.68	−2.82	−0.61	−43.82	9.21	5.60
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	21.97	−37.82	24.59	40.15	−52.28	−28.22	16.84
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	12.68	−0.24	1.37	5.56	2.00	−1.97	1.15
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.15	0.47	0.12	0.12	0.34	0.13	2.28
Effective tax ratePublished threshold 17.16 per cent	31.29	47.60	15.08	–	−8.17	53.72	43.50	40.70	34.56	32.88
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	−29.20	17.56	33.56	21.72	10.95

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
7 Jul 2026	CARE Ratings Limited (opens in a new tab)	Fund-based - LT-Term Loan	CARE AReview, Re-affirm	Stable	315.29
7 Jul 2026	CARE Ratings Limited (opens in a new tab)	Fund-based - LT-Cash Credit	CARE AReview, Re-affirm	Stable	1,065
7 Jul 2026	CARE Ratings Limited (opens in a new tab)	Non-fund-based - LT/ ST-BG/LC	CARE A / CARE A1Review, Re-affirm	Stable	2,950
7 Jul 2026	CARE Ratings Limited (opens in a new tab)	Fund-based/Non-fund-based-Short Term	CARE A1Review, Re-affirm		70

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