Sundaram Clayton Limited — Credit Ratings, 23-01-2026: Credit Rating

CRISIL Ratings has reaffirmed Sundaram-Clayton's long-term 'AA-/Negative' and short-term 'A1+' ratings for its bank facilities. The 'AA-/Negative' rating for Non-Convertible Debentures (NCDs) has been withdrawn post-redemption. The outlook remains Negative. Reaffirmation is driven by expected debt reduction from a Rs. 560.67 Cr land sale, which will improve gearing to ~1x by March 2026, despite ongoing losses at its US subsidiary.