Pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirement ) Regulations, 2015, we wish to inform you that India Ratings and ....
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India Ratings and Research has assigned a credit rating of IND BBB/Stable/IND A3+ to Jay Ushin Limited's bank loan facilities totaling Rs. 1,580 million. The rating reflects the company's strong market position in the auto-ancillary sector with diversified products (lock sets, door latches, switches, HVAC panels) and established OEM relationships including Maruti Suzuki and Honda. Credit metrics have improved significantly - net adjusted leverage improved to 3.46x in 9MFY26 from 5.77x in FY24, and interest coverage rose to 2.51x. Revenue stood at Rs. 7,015 million in 9MFY26 with EBITDA margin at 3.67%. The company was previously placed under non-cooperation by Brickwork Ratings due to inadequate information.
The BBB investment-grade rating with stable outlook signals improved creditworthiness and should facilitate better borrowing terms, though modest EBITDA margins of 3-4% and high customer concentration remain watch items.