CARE Edge Ratings has revised the credit ratings for DCM Shriram Industries Ltd pertaining to its long-term and short-term bank facilities, as well as its fixed deposit programme. These revisions were made based on the operational and financial performance for the Financial Year 2024-25 and the nine-month period ended December 31, 2025. The review also took into account the Composite Scheme of Arrangement approved by the National Company Law Tribunal (NCLT).
In a letter dated April 1, 2026, CARE Ratings detailed the rating changes.
The key credit ratings reviewed are presented below:
| Facilities | Rating | Remarks |
|---|---|---|
| Long Term Bank Facilities | CARE A-; Stable | Downgraded from CARE A+ and removed from Rating Watch with Negative implications; stable outlook assigned. |
| Short Term Bank Facilities | CARE A2+ | Downgraded from CARE A1+ and removed from Rating Watch with Negative implications. |
| Fixed Deposit | CARE A-; Stable | Downgraded from CARE A+ and removed from Rating Watch with Negative implications; stable outlook assigned. |
Details on the rating for bank facilities were reviewed based on the company's performance for FY25 (Audited) and 9MFY26 (Unaudited), alongside the NCLT's approval of the Composite Scheme of Arrangement.
For the Fixed Deposit (FD) programme, the rating details showed:
| Instrument | Amount (₹ crore) | Rating | Rating Action |
|---|---|---|---|
| Fixed Deposit | 15 | CARE A-; Stable | Downgraded from CARE A+ and removed from Rating Watch with Negative Implications; Stable outlook assigned |
In the context of other rated bank facilities, the ratings reviewed were as follows:
| Facilities | Amount (₹ crore) | Rating | Rating Action |
|---|---|---|---|
| Long Term Bank Facilities | 441.79 (Reduced from 598.29) | CARE A-; Stable | Downgraded from CARE A+ and removed from Rating Watch with Negative Implications; Stable outlook assigned |
| Short Term Bank Facilities | 11.00 (Reduced from 155.92) | CARE A2+ | Downgraded from CARE A1+ and removed from Rating Watch with Negative Implications |
The total long-term facilities were calculated as Rs.441.79 crore, which comprised:
- Fund Based Limits: Total rated amount was Rs.393.2 crore across State Bank of India (Rs. 142 crore), Punjab National Bank (Rs. 111.46 crore), HDFC Bank Ltd. (Rs. 85 crore), and Axis Bank Ltd. (Rs. 54.74 crore).
- Term Loans: Total rated amount was Rs.48.59 crore across Punjab National Bank (Rs. 21.74 crore and Rs. 5.85 crore) and Axis Bank Ltd. (Rs. 21 crore).
* Non-Fund Based Limits: Total rated amount was Rs.11 crore across Axis Bank Ltd. (Rs. 10 crore) and State Bank of India (Rs. 1 crore).
The rating for the FD Programme was noted to have a tenure of 36 months.
DCM Shriram Industries Ltd. previously communicated the rating revision to the Stock Exchanges on April 2, 2026.
DCMSRIND Stock Price Movement
Today, DCM Shriram Industries Limited shares edged higher to close at ₹37.64, gaining 0.19%. The stock finished the day trading on a volume of 245,621 shares.Source:
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