India Ratings Affirms KEI Industries Ltd's Debt Instruments, Assigning AA+/Stable Rating for Working Capital Facilities

India Ratings Affirms KEI Industries Ltd's Debt Instruments, Assigning AA+/Stable Rating for Working Capital Facilities​

India Ratings & Research Private Limited has affirmed the ratings for various debt instruments of KEI Industries Ltd (KEI), including Long-Term Bank Facilities and Commercial Paper programs. The company received consistent high credit ratings across multiple bank funding categories in a review conducted on June 03, 2026.

The ratings cover different aspects of KEI's borrowing capacity, with the rating for debt instruments assigned at INDAA+/Stable/INDA1+.

Key Ratings and Financial Metrics​

India Ratings provided comprehensive updates regarding KEI Industries Ltd's financial health and its various credit facilities in multiple sectors.

Bank Loan Facilities Rating:
For a specific tranche of the bank loan facilities, India Ratings affirmed the rating, noting an issue size of INR 38,100 million. The combined rating for this instrument type was INDAA+/Stable/INDA1+.

Commercial Paper Program Rating:
The Commercial Paper (CP) program of KEI Industries Ltd was rated by India Ratings as INDA1+ for the instrument type covering up to 365 days, with a size of INR 1,000 million.

Overview of Working Capital Facilities:
India Ratings assessed various Fund/Non-Fund Based WorkingCapital Limits across numerous financial institutions, all assigning the rating of INDAA+/Stable/INDA1+ for these facilities. The working capital limits and corresponding banks are detailed below:

Detailed Rating Affiliations​

The ratings granted by India Ratings are based on the instruments' characteristics, which cover both short-term and long-term financing.

In addition to the detailed bank facilities, the rating review included assessments of commercial paper programs and overall debt instrument quality:

• Long Term Bank Facilities (Working Capital) / Debt Instruments: Assigned IND AA+/Stable (Double A Plus; Outlook: Stable).
• Short Term Bank Facilities (Working Capital) / Commercial Paper (CP): Rated at IND A1+ (A One Plus), indicating the lowest credit risk for these instruments.

KEI Industries Ltd maintains multiple operational centers, including facilities in Bhiwadi and Chopanki for cables production using BRUGG technology. The company also operates offices in Kolkata and Chennai.

KEI Stock Price Movement​

KEI Industries Limited shares today slipped by 0.76% to close at ₹5222, shedding ₹40.00 from the previous close of ₹5261.50. The equity settled amidst trading volume of 265,111 shares, as the stock finished near its intraday low of ₹5204.50.