Jain Irrigation Systems Limited — Credit Ratings, 29-10-2025: Credit Rating

CRISIL Ratings reaffirmed Jain Irrigation Systems' Long-Term rating at 'Crisil BBB-/Stable' and Short-Term rating at 'Crisil A3'. This covers ₹2,930 Cr in bank facilities and ₹785.63 Cr Non-Convertible Debentures (NCDs, reduced from ₹814 Cr after withdrawing ₹28.37 Cr). The ratings reflect JISL's strong market position and extensive network, balanced by working capital intensity from high project receivables and a modest financial risk profile.