Crisil reaffirms AAA on UltraTech debt, assigns rating to Rs 250 cr NCDs
ULTRACEMCO · price
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On the reaction day the stock moved 1.1 pts less than Nifty 100 and 1.2 pts less than its Cement & Cement Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Crisil has assigned its 'AAA/Stable' rating to Rs 250 crore new Non-Convertible Debentures of UltraTech Cement. It has also reaffirmed 'AAA/Stable' on Rs 5,400 crore bank loan facilities and Rs 8,850 crore existing NCDs, plus 'A1+' on Rs 5,000 crore commercial paper. The reaffirmation reflects UltraTech's leading position in Indian cement with 205.5 MTPA capacity, healthy financials with net debt to EBITDA improving to 1.1 times in fiscal 2026 from 1.5 times, and EBITDA per tonne rising to Rs 1,092 from Rs 915. Outlook remains Stable.
Reaffirmation of the highest AAA credit rating signals strong financial health and low default risk, supportive for the stock.