Jindal Saw Limited — Credit Ratings, 01-07-2025: Credit Rating

CARE Ratings has reaffirmed Jindal Saw Limited’s credit ratings with a stable outlook across key instruments: Non-Convertible Debentures (Rs.500 crore) rated CARE AA; Long Term Bank Facilities (Rs.1,980.83 crore) rated CARE AA; Short Term Bank Facilities (Rs.9,000 crore) and Commercial Paper (Rs.400 crore) rated CARE A1+; and Issuer Rating remains CARE AA. The reaffirmations reflect the company’s steady operational and financial performance for FY25 audited results, along with a moderate reduction in long-term bank facility limits. Stable ratings support continued investor confidence, maintaining favorable borrowing costs and strategic financial flexibility for Jindal Saw amid its ongoing debt servicing obligations.