Pursuant to Regulation 30 of SEBI LODR Regulation 2015, we wish to inform that Crisil Ratings Ltd vide its press release dated January 20, 2026 has reaffirmed the credit ratings.
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CRISIL Ratings has reaffirmed Jay Ushin Limited's credit ratings at 'BBB-/Stable' for long-term bank facilities and 'A3' for short-term facilities, covering total bank loan facilities of Rs. 125 crore. The reaffirmation reflects the company's established position in the auto components industry and its reputed OEM clientele, including top passenger vehicle and two-wheeler manufacturers. Revenue grew to Rs. 855 crore in FY25 from Rs. 726 crore in FY24, with a healthy orderbook of over Rs. 1,100 crore supporting an expected revenue of around Rs. 900 crore in FY26. However, weak points remain — operating margins are low at 3-4%, gearing stands at 1.13 times, and the current ratio is below 1 at 0.92 times, indicating moderate financial risk.
The rating reaffirmation with a stable outlook signals no change in the company's creditworthiness, meaning borrowing costs and lender confidence remain steady. For shareholders, this is a neutral-to-mildly-positive signal — business is growing but thin margins and moderate debt levels limit upside potential.