Transformers And Rectifiers (India) Limited — Credit Ratings, 13-06-2025: Credit Rating- Revision

India Ratings and Research has upgraded Transformers and Rectifiers (India) Limited’s debt rating to ‘IND A+’ from ‘IND A-’ with a stable outlook. The upgrade is driven by improved financial health and operational efficiency, highlighted by the full repayment of a INR 30 Cr term loan and reduced fund-based working capital limits. This stronger credit profile is expected to lower TARIL’s borrowing costs and boost investor confidence, offering greater strategic flexibility for future financing. The rating reflects TARIL’s solid standing as India’s second-largest transformer manufacturer, supported by robust infrastructure and skilled management.