SRM Contractors Ltd receives rating upgrades for bank facilities from CareEdge Ratings
SRM Contractors Ltd has seen an improvement in the credit ratings of its banking facilities, following a review conducted by CareEdge Ratings Limited. The company’s borrowing limits have been upgraded across several categories based on recent operational and financial performance reviews for FY26 (Audited).CareEdge Ratings Limited provided the rating updates, reflecting the enhanced long term and short term bank facilities availed by SRM Contractors Ltd. These ratings indicate an improvement in the company's standing regarding its banking commitments.
The facilities were rated across both Long Term Bank Facilities and combined Long Term / Short Term Bank Facilities.
Rating Details for Long Term Bank Facilities
SRM Contractors Ltd’s Long Term Bank Facilities, amounting to 20.90 crore, have been upgraded. The facility was previously rated CARE A-; Stable and has now received a rating of CARE A; Stable. This upgrade represents an enhancement from the previous rating.The details regarding the servicing banks for these facilities are as follows:
| Sr. No. | Name of Bank / Lender | Rated Amount (Rs. crore) |
|---|---|---|
| 1 | State Bank of India | 10.00 |
| 2 | HDFC Bank Ltd. | 4.00 |
| 3 | ICICI Bank Ltd. | 4.00 |
| 4 | Yes Bank Ltd. | 1.90 |
| 5 | Bank of Baroda | 1.00 |
The total Long Term Facilities stand at Rs.20.90 crore.
Rating Details for Long Term / Short Term Bank Facilities
For the combined Long Term and Short Term facilities, which amount to 409.50 crore, the rating has been enhanced. The facility was previously rated CARE A-; Stable/CARE A2 and has now received a rating of CARE A; Stable/ CARE A1.This category covers Non-Fund Based Limits from various lenders:
| Sr. No. | Name of Bank / Lender | Rated Amount (Rs. crore) |
|---|---|---|
| 1 | HDFC Bank Ltd. | 216.50 |
| 2 | Yes Bank Ltd. | 75.00 |
| 3 | ICICI Bank Ltd. | 71.00 |
| 4 | Bank of Baroda | 40.00 |
| 5 | State Bank of India | 7.00 |
The total Long Term / Short Term Facilities stand at Rs.409.50 crore, making the combined total facilities amount to Rs.430.40 crore.
SRM Stock Price Movement
Shares of SRM Contractors Limited are edging higher to reach ₹522.20 as of 12:43 PM, gaining ₹9.65 or 1.88% in current trading. The stock shows significant intraday activity, with 106,781 shares changing hands in the active market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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