Prism Johnson financials: balance sheet, profit and loss, cash flow

NSE: PRSMJOHNSNBSE: 500338Cement & Cement ProductsSmall Cap

Prism Johnson Limited · Formerly Prism Cement · Face value ₹10 · Listed Apr 1995 on BSE, Aug 2003 on NSE

₹94.51₹2.20 (2.27%)BSE ₹94.65

Share price at the NSE close on 30 Oct 2026. Previous close ₹96.71.

30 Oct: open ₹96.64, high ₹96.64, low ₹94.15

52-week range of traded prices to 30 Oct 2026

₹93.76Low, 28 Oct 2026₹159.70High, 30 Oct 2025

Next results date: the board meets on 6 Nov 2026 to consider: financial results. The notice · Results calendar

Market cap: ₹4,757 Cr707th largest listed
P/E: 27.25
P/E without one-offs: 82.82
P/B: 3.11
Dividend yield: Nonein the last 12 months
ROE: Assets held for saleon the latest balance sheet
ROCE: Assets held for saleon the latest balance sheet
Debt to equity: Assets held for saleon the latest balance sheet
Volume, NSE: 74,01056.2% delivered

Prism Johnson's financial statements for the 10 years to Mar 2026, consolidated: the company and its subsidiaries together, with the twelve months to Jun 2026 after them.

10 years at a glance

₹ crore, years to March.Prism Johnson annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

A loss in 2 of the 10 years shown

Operating and net margin, per cent

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 7.6% 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, ₹7,310 Cr, differs from its quarters added, ₹7,409 Cr. From the year to Mar 2026, the company's revenue for that year, ₹7,381 Cr, differs from its quarters added, ₹7,731 Cr; the company reports a discontinued business.

Results for the year to Mar 2026

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

From revenue to net profit

Revenue7,381
Materials and goods−2,646
Employee costs−644
Other expenses−3,397
Operating profit693
Depreciation−531
Other income+35
One-off items+111
Finance costs−177
Profit before tax132
Tax−40
Joint ventures+14
Discontinued businesses−75
Net profit30

What the company owns

Plant, investments and other assets₹5,323 Cr
Receivables₹779 Cr
Inventory₹684 Cr
Cash and bank₹548 Cr

What pays for it: net worth and liabilities

Other liabilities₹3,364 Cr
Net worth₹1,841 Cr
Borrowings₹1,113 Cr
Owed to suppliers₹1,015 Cr

Prism Johnson 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. That year's accounts report a discontinued business, which these segments may include.Prism Johnson segment results by quarter

Revenue by segment

₹7,404 CrTotal

Cement₹3,405 Cr46.0% of total
HRJ₹2,447 Cr33.1% of total
RMC₹1,551 Cr21.0% of total

Profit by segment

Cement₹136 Cr45.5% of total
HRJ₹137 Cr45.8% of total
RMC₹26 Cr8.7% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Cement
Revenue, ₹ crore
2,773
2,584
2,586
2,408
3,030
3,318
3,022
3,405
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
402
385
425
220
49
336
−3
136
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
HRJ
Revenue, ₹ crore
1,827
1,823
1,833
2,221
2,399
2,386
2,393
2,447
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
5
−21
−3
126
58
52
201
137
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
RMC
Revenue, ₹ crore
1,481
1,414
908
1,197
1,401
1,471
1,415
1,551
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
17
−14
−15
−18
−31
−14
−33
26
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	6,234	6,010	5,619	6,330	7,370	7,614	7,329	7,404
Company revenue, as in its results	6,194	5,956	5,587	6,306	7,361	7,588	7,310	7,381
Revenue	2,773	2,584	2,586	2,408	3,030	3,318	3,022	3,405
Revenue growth	–	−6.8%	0.1%	−6.9%	25.9%	9.5%	–	–
Profit	402	385	425	220	49	336	−3	136
Profit growth	–	−4.1%	10.3%	−48.2%	−77.9%	592.4%	–	–
Margin	14.5%	14.9%	16.4%	9.1%	1.6%	10.1%	−0.1%	4.0%
Return on capital	–	23.8%	27.8%	13.3%	3.6%	32.0%	−0.3%	13.7%
Assets	–	2,621	2,717	2,954	2,873	2,783	2,742	2,692
Liabilities	–	1,001	1,189	1,303	1,540	1,734	1,682	1,697
Capital employed	–	1,620	1,528	1,651	1,334	1,049	1,060	995
Revenue	1,827	1,823	1,833	2,221	2,399	2,386	2,393	2,447
Revenue growth	–	−0.3%	0.5%	21.2%	8.0%	−0.5%	–	–
Profit	5	−21	−3	126	58	52	201	137
Profit growth	–	–	–	–	−53.8%	−11.4%	–	–
Margin	0.3%	−1.1%	−0.2%	5.7%	2.4%	2.2%	8.4%	5.6%
Return on capital	–	−1.9%	−0.4%	16.1%	6.5%	4.9%	20.5%	13.9%
Assets	–	1,871	1,636	1,694	1,793	1,868	1,910	1,884
Liabilities	–	766	862	910	899	827	928	897
Capital employed	–	1,105	774	783	893	1,042	981	988
Revenue	1,481	1,414	908	1,197	1,401	1,471	1,415	1,551
Revenue growth	–	−4.5%	−35.8%	31.9%	17.0%	5.0%	–	–
Profit	17	−14	−15	−18	−31	−14	−33	26
Margin	1.2%	−1.0%	−1.6%	−1.5%	−2.2%	−1.0%	−2.4%	1.7%
Return on capital	–	−9.3%	−8.7%	−11.9%	−21.1%	−8.9%	−66.0%	20.6%
Assets	–	578	522	496	519	788	742	696
Liabilities	–	428	351	342	370	626	691	568
Capital employed	–	150	170	153	149	162	51	127
Revenue	153	189	293	504	540	439	499	–
Revenue growth	–	23.8%	54.6%	71.9%	7.2%	−18.7%	–	–
Profit	−12	−34	−43	−49	−46	−40	−45	–
Margin	−7.7%	−18.1%	−14.7%	−9.7%	−8.6%	−9.2%	−9.0%	–
Return on capital	–	−46.3%	−41.1%	−53.7%	−54.9%	−43.9%	−36.4%	–
Assets	–	577	841	1,017	1,077	1,165	1,443	–
Liabilities	–	503	736	926	992	1,074	1,320	–
Capital employed	–	74	105	91	84	91	123	–

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

Profit and loss

Consolidated, ₹ crore, years to March. The last column is the twelve months to Jun 2026, the latest four quarters added.Prism Johnson quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025Filed 15 May	Mar 2026	Jun 2026Twelve monthsFiled 7 Aug
Revenue from operations	5,562	5,592	6,194	5,956	5,587	6,306	7,361	7,588	7,310	7,381	7,645
	5,207	5,199	5,593	5,417	4,965	5,783	7,000	7,099	6,892	6,687	6,924
Materials and goods bought	1,857	2,054	1,980	1,974	1,887	2,072	2,402	2,500	2,330	2,646	2,639
Employee costs	–	–	566	596	550	615	666	620	666	644	664
Other expenses	–	–	3,048	2,847	2,529	3,096	3,931	3,979	3,895	3,397	3,620
Operating profit before depreciation	356	393	601	539	622	523	361	489	418	693	721
Operating margin	6.4%	7.0%	9.7%	9.1%	11.1%	8.3%	4.9%	6.4%	5.7%	9.4%	9.4%
Materials, % of revenue	–	–	32.0%	33.1%	33.8%	32.9%	32.6%	32.9%	31.9%	35.9%	34.5%
Employee costs, % of revenue	–	–	9.1%	10.0%	9.8%	9.8%	9.0%	8.2%	9.1%	8.7%	8.7%
Other expenses, % of revenue	–	–	49.2%	47.8%	45.3%	49.1%	53.4%	52.4%	53.3%	46.0%	47.4%
Depreciation and amortisation	192	184	200	251	293	310	390	414	483	531	523
Operating profit after depreciation	164	208	401	289	329	214	−29	75	−65	163	198
Other income	93	116	27	28	38	40	34	35	128	35	49
Finance costs	217	227	220	252	210	185	186	193	223	177	168
Profit before one-off items and tax	40	97	208	65	157	68	−181	−83	−160	21	79
One-off items	1	3	−11	−10	−5	9	−7	243	146	111	142
Profit before tax	42	101	197	55	152	77	−187	160	−14	132	222
	27	46	92	83	16	40	−20	12	−41	40	62
Current tax	30	37	62	9	10	2	−1	5	−44	50	72
Deferred tax	−2	8	30	74	6	38	−19	8	3	−9	−10
Share of profit of joint ventures and associates	–	–	4	7	4	7	10	15	19	14	14
Profit from discontinued businesses	–	–	–	–	–	–	–	–	–	−75	−25
	14	55	110	−21	140	44	−158	162	45	30	148
Belonging to the company's shareholders	–	–	116	2	171	92	−103	181	80	73	175
Belonging to outside owners of subsidiaries	–	–	−7	−22	−31	−48	–	−19	−35	−43	−26
Other comprehensive income	–	–	1	−10	−6	−12	−25	9	15	−11	−15
Total comprehensive income	–	–	110	−31	134	32	−183	171	60	19	133
Net margin	0.3%	1.0%	1.8%	−0.3%	2.5%	0.7%	−2.1%	2.1%	0.6%	–	–
Net margin without joint ventures and associates	–	–	1.7%	−0.5%	2.4%	0.6%	−2.3%	1.9%	0.4%	–	–

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. Belonging to the company's shareholders is left blank for the year to Mar 2017: the filing's earnings per share does not match the profit it states, and cannot be multiplied back into the owners' profit because the earnings per share is under 50 paise, where its rounding to the paisa is too coarse. Belonging to the company's shareholders is left blank for the year to Mar 2018: the filing's earnings per share does not match the profit it states, and cannot be multiplied back into the owners' profit because the share it leaves the other owners is more than 10 points from the share the company's other periods state. Net margin is left blank for the year to Mar 2026: the profit includes the result of a business the company has discontinued, which the revenue does not, so the two make no margin.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025Filed 15 May	Mar 2026
	1,392	1,294	1,524	1,596	1,463	1,643	1,768	1,841
	1,126	1,049	1,242	1,323	1,207	1,389	1,478	1,528
Share capital	503	503	503	503	503	503	503	503
Reserves	623	546	738	820	703	886	975	1,025
Belonging to outside owners of subsidiaries	266	245	282	273	256	254	290	313
	1,478	1,787	1,750	1,560	1,468	1,333	1,108	1,113
Repayable after a year	1,175	1,504	1,601	1,177	958	927	885	942
Repayable within a year	303	282	150	383	510	406	223	171
	2,368	2,526	2,419	2,802	3,254	3,360	3,339	2,398
Trade payables	773	778	937	1,138	1,315	1,036	1,014	1,015
Other financial liabilities	914	1,151	625	423	456	764	1,310	506
Other liabilities	271	256	643	789	865	1,076	715	576
Provisions	40	55	63	69	107	74	77	120
Tax owed	68	4	1	0	1	3	0	10
	1,716	2,249	2,223	2,059	1,840	2,086	2,211	1,815
Other financial liabilities	435	455	303	310	300	625	1,023	582
Other liabilities	50	178	225	427	443	395	152	141
Provisions	29	32	33	34	42	36	41	53
Deferred tax	27	79	61	98	79	103	110	97
Trade payables	–	0	0	13	18	0	–	–
Liabilities going with businesses held for sale	–	–	–	–	–	–	–	1,279
	5,476	6,069	6,165	6,457	6,556	7,089	7,318	7,333
Held for sale or for a demerger	3	4	2	1	1	0	0	1,575
	3,556	3,787	3,987	4,217	4,290	4,444	4,799	3,609
Plant in use, after depreciation	2,581	2,759	2,900	2,907	2,889	3,206	3,216	3,114
Plant being built	124	259	132	204	240	123	122	44
Intangible assets	19	25	24	41	37	34	44	57
Goodwill	25	26	23	23	21	21	24	24
Intangible assets being developed	–	0	0	0	0	19	20	1
Investments	323	308	497	717	737	704	928	8
Stakes in joint ventures and associates	52	65	73	80	90	112	133	139
Loans given	71	62	59	1	0	0	0	0
Other financial assets	94	90	82	130	147	86	149	81
Deferred tax	41	17	6	9	9	9	9	1
Other assets	225	176	191	107	120	130	154	139
	1,917	2,278	2,176	2,239	2,265	2,646	2,518	2,149
Inventories	709	742	581	805	748	826	774	684
Trade receivables	722	714	625	624	695	695	840	779
Cash and cash equivalents	62	137	346	257	262	436	408	477
Other bank balances	12	281	198	117	64	70	70	71
Current investments	110	150	160	37	84	164	53	0
Loans given	5	5	6	1	1	1	2	2
Other financial assets	35	57	22	36	26	30	148	12
Tax paid in advance	75	50	58	44	34	89	1	0
Other assets	186	143	180	318	351	335	223	126
Net debt	1,294	1,219	1,045	1,149	1,057	663	577	565

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 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025Filed 15 May	Mar 2026
	1,281	565	592	473	737	493
	1,294	552	581	512	657	528
	718	49	244	58	209	−28
Receivables	161	−7	−76	−13	−157	−110
Inventories	65	−224	54	−78	66	90
Payables	173	200	187	50	−36	−121
Other working capital	319	80	79	98	337	113
Tax paid	−13	13	11	−39	80	−35
Capital spending	230	368	369	495	389	358
Free cash flow	1,051	198	223	−22	348	135
	−265	−313	−320	72	−239	−180
Plant and property sold	43	16	18	542	177	176
Companies bought	0	−666	−532	−463	−609	−428
Interest received	62	76	71	73	91	86
	−806	−342	−267	−371	−527	−244
Borrowings raised	682	456	222	751	568	359
Borrowings repaid	−1,197	−623	−314	−886	−814	−356
Interest paid	−317	−174	−181	−176	−172	−139
Lease payments	−47	−43	0	−69	−150	−163
Dividends paid	0	0	0	0	0	8
Shares bought back	0	0	0	0	0	0
Shares issued	74	42	48	0	42	61
Net change in cash	209	−89	5	174	−28	69

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.Prism Johnson dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025Filed 15 May	Mar 2026
Earnings per share	−₹0.04	₹0.84	₹2.31	₹0.03	₹3.40	₹1.82	−₹2.05	₹3.60	₹1.59	₹1.45
Diluted earnings per share	−₹0.04	₹0.84	₹2.31	₹0.03	₹3.40	₹1.82	−₹2.05	₹3.60	₹1.59	₹1.45
Dividend per share	–	–	₹0.50	₹1.00	–	–	–	–	–	–
Book value per share	–	–	₹22.37	₹20.84	₹24.67	₹26.28	₹23.97	₹27.59	₹29.36	₹30.36
Dividend payout	–	–	21.6%	3,050.7%	–	–	–	–	–	–
Shareholder yield	–	–	–	–	−1.1%	−0.7%	−0.9%	0.0%	−0.6%	−0.9%
Market cap at the year end (₹ crore)	4,928	5,459	4,815	1,523	6,596	5,799	5,303	8,990	6,816	6,295

Ratios

Consolidated, years to March.Prism Johnson PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025Filed 15 May	Mar 2026
Revenue growth	−1.1%	0.5%	10.8%	−3.8%	−6.2%	12.9%	16.7%	3.1%	–	–
Operating profit growth	−7.5%	10.4%	53.1%	−10.3%	15.3%	−15.9%	−31.0%	35.5%	–	–
Net profit growth	331.8%	286.0%	99.3%	–	–	−68.7%	–	–	−72.1%	–
Earnings per share growth	–	–	175.0%	−98.7%	11,233.3%	−46.5%	–	–	−55.8%	–
	–	–	10.3%	0.2%	15.0%	7.2%	−8.2%	14.0%	5.6%	–
	–	–	–	−10.2 pts	14.8 pts	−7.8 pts	−15.3 pts	22.1 pts	−8.4 pts	–
From the net margin	–	–	–	−10.2 pts	16.6 pts	−7.9 pts	−14.1 pts	22.1 pts	−7.6 pts	–
From asset turnover	–	–	–	0.0 pts	−1.9 pts	0.7 pts	−0.9 pts	−0.2 pts	−0.6 pts	–
From borrowing	–	–	–	0.0 pts	0.1 pts	−0.6 pts	−0.4 pts	0.3 pts	−0.3 pts	–
Return on capital employed	–	–	14.0%	9.4%	10.1%	6.8%	−1.0%	2.5%	−2.3%	–
Cash conversion	–	–	–	–	912.5%	1,286.6%	–	292.0%	1,634.4%	1,643.7%
Interest cover	0.8	0.9	1.8	1.1	1.6	1.2	–	0.4	–	0.9
Debt to equity	–	–	1.06	1.38	1.15	0.98	1.00	0.81	0.63	–
Receivable days	–	–	43	44	41	36	34	33	42	–
Inventory days	–	–	131	137	112	142	114	121	121	–
Payable days	–	–	142	144	181	200	200	151	159	–
Cash conversion cycle, days	–	–	31	37	−28	−23	−52	3	4	–
Working capital days	–	–	−20	−33	−52	−34	−44	−47	−56	–
Asset turnover	–	–	1.13	1.03	0.91	1.00	1.13	1.11	1.01	–
Assets per rupee of net worth	–	–	4.86	5.31	5.34	4.92	5.14	5.26	5.03	–
Sales per rupee of plant	–	–	2.40	2.16	1.93	2.17	2.55	2.37	2.27	2.37
Capital spending to depreciation	–	–	–	–	0.78	1.19	0.95	1.20	0.80	0.67
Plant being built, % of plant in use	–	–	4.8%	9.4%	4.6%	7.0%	8.3%	3.8%	3.8%	1.4%

Interest cover is left blank for the years to Mar 2023 and Mar 2025: 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 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. Return on equity, asset turnover and assets per rupee of net worth are left blank for the year to Mar 2026: 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 year to Mar 2026: 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 2026: 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 and operating profit growth are left blank for the year to Mar 2026: between the two periods the company restated its earlier figures and the company began reporting a business as discontinued, so the two are on different bases and the change is not worked out. Net profit growth and earnings per share growth are left blank for the year to Mar 2026: between the two periods the company began reporting a business as discontinued, 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: 1.0%
Cash from operations against operating profit: 71.2%

Measure	10 years	5 years	3 years
Return on equity, average	–	4.6%	9.8%
Return on capital employed, average	–	1.5%	0.1%
Operating margin, average	7.8%	7.0%	7.2%
Net margin, average	0.7%	0.3%	1.4%
Asset turnover, average	–	1.06	1.06
Cash conversion cycle, days, average	–	−17	3
Interest cover, average	–	–	0.7
Debt to equity, average	–	0.85	0.72

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	2,861	1,703	493
Cash from investing	−979	−347	−180
Cash from financing	−1,750	−1,142	−244
Capital spending	1,979	1,242	358
Dividends paid	8	8	8
Shares bought back	0	0	0
Shares issued for cash	193	103	61
Borrowings raised	2,356	1,678	359
Borrowings repaid	2,993	2,056	356

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
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−14.31	−3.31	−6.61	−5.62	−6.29	−3.86
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	91.79	33.86	36.54	7.19
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	2.66	−6.16	−13.14	−5.35	−3.08	24.51	−8.23
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	4.87	−17.31	28.82	−23.06	6.39	0.51	−25.19
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	−0.79	0.17	2.19	0.18	0.57	−1.13	−3.18
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.60	0.31	0.64	0.65	0.17	0.25	0.10
Effective tax ratePublished threshold 17.16 per cent	65.84	45.36	46.55	150.91	10.64	51.88	–	7.74	–	30.42
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	34.97	–	−16.81	–	4.18

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
26 Aug 2026	CRISIL Ratings Limited	Commercial Paper	Crisil A1+Review, Re-affirm		200
6 Aug 2026	India Ratings and Research Private Limited	Non-convertible debentures	IND AA-Review, Upgrade	Positive	100
6 Aug 2026	India Ratings and Research Private Limited	Commercial paper	IND A1+Review, Re-affirm		200
6 Aug 2026	India Ratings and Research Private Limited	Non-convertible debentures	WDReview, Other		100
6 Aug 2026	India Ratings and Research Private Limited	Bank loan facilities	IND AA-; IND A1+Review, Other	Positive	2,258.34
6 Aug 2026	India Ratings and Research Private Limited	Fixed deposit	WDReview, Other		0.10
6 Aug 2026	India Ratings and Research Private Limited	Issuer Rating	IND AA-Review, Upgrade	Positive

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