CRISIL upgrades long-term rating to AA+ with stable outlook

Rating UpgradedCredit & Debt View source PDF Explain this filing

SHYAMMETL · price

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Price reactionminutes from the announcement price · days from the prior close

-5.5%Reaction day

₹886.05

prior close

₹856.10

announcement price

In-mkt

timing

Nifty Smallcap 250market · index membership as recorded later (tracked since Jun 2026)-1.5%-4.0% vs market

Iron & Steel Products peers, median of 94sector-2.1%-3.5% vs sector

On the reaction day the stock moved 4.0 pts less than Nifty Smallcap 250 and 3.5 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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10m

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15m

-1.0

30m

-1.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-5.5-1.5-4.0-2.1-3.5

Next day

-2.4-1.7-0.6-1.6-0.8

-3.8-1.7-2.1-2.3-1.6

-3.5-1.9-1.6-2.1-1.4

-2.9-1.2-1.8-2.2-0.7

-3.7-1.6-2.1-2.3-1.4

-3.4-0.7-2.7-2.0-1.4

15d

-7.6-3.2-4.4-5.1-2.4

-9.4-6.9-2.4-8.2-1.2

-6.2-3.1-3.1-5.7-0.5

-3.2-8.4+5.2-10.1+6.9

UpDownMarket · Nifty Smallcap 250Sector · Iron & Steel Products peers, median of 94Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

CRISIL upgraded the long-term bank facility rating to AA+ with a stable outlook, from AA with a positive outlook. The rating covers Rs 3,600 crore of bank facilities; short-term debt and Rs 50 crore commercial paper remain at A1+. CRISIL cited strong finances, including FY25 revenue of Rs 15,137 crore, EBITDA of Rs 1,868 crore and interest coverage of 14.6 times. Planned capex of Rs 6,500-7,000 crore for FY26-28 is expected to be mainly funded internally.

Likely market impact

The upgrade supports credit confidence and may improve access to funding, but shareholders remain exposed to steel price cycles and execution of the large expansion plan.