UNO Minda Limited has informed the Exchange about Credit Rating
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Awaiting price reaction for this filing.
ICRA has reaffirmed UNO Minda Limited's credit ratings on March 11, 2026 — long-term rating at AA+ (Stable) and short-term rating at A1+. The total rated amount was enhanced from Rs. 2,400 crore to Rs. 2,500 crore, with fund-based/non-fund based limits raised from Rs. 573 crore to Rs. 702 crore. The reaffirmation is supported by strong operational performance, with 9M FY2026 revenues growing ~17% year-on-year and the company posting its highest-ever quarterly revenue in Q3 FY2026. Financial health remains robust with low gearing of 0.4x, total debt/OPBDITA of 1.3x, and interest coverage of 12.2x as of September 2025. The company is undertaking capex of Rs. 1,500-1,600 crore in FY2026, largely backed by confirmed OEM orders. Cash balances stood at Rs. 305.2 crore with Rs. 566 crore in unutilised working capital limits as of December 2025.
Positive for shareholders — the reaffirmed AA+ Stable rating signals strong financial health and consistent business performance, while the enhanced credit limit gives UNO Minda greater financial flexibility to support its growth and capex plans. This is unlikely to be a stock-moving event but reinforces confidence in the company's creditworthiness.