Mahindra & Mahindra Limited has informed the Exchange about Credit Rating- Others
M&M · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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ICRA has reaffirmed Mahindra & Mahindra's credit ratings across all its debt instruments totalling Rs. 942.50 crore. The Rs. 500 crore Non-Convertible Debenture Programme and Rs. 42.50 crore long-term non-fund based facilities retain the highest [ICRA]AAA rating with a Stable outlook, while the Rs. 400 crore short-term non-fund based facilities keep the top-tier [ICRA]A1+ rating. ICRA cited M&M's strong financial profile, healthy free cash flows, market leadership in tractors (45.1% share) and improving position in utility vehicles (22.7% share), along with a net debt-free balance sheet and over Rs. 37,000 crore in liquid investments. The company plans Rs. 20,000-25,000 crore in capex over FY2026-FY2027, to be funded mainly through internal accruals.
A reaffirmed AAA rating — the highest credit quality grade — signals M&M's continued financial strength and low default risk, which supports cheaper borrowing costs. For shareholders, this is a neutral-to-positive confirmation that the company's robust business position and liquidity have not weakened, with no negative triggers identified by the rating agency.