Transrail Lighting Limited — Credit Ratings, 05-03-2026: Credit Rating

Crisil Ratings has assigned 'Crisil AA-/Stable' to Transrail Lighting's Non Convertible Debentures and 'Crisil A1+' to Commercial Paper. Bank facilities (Rs 7070 Cr) are reaffirmed at 'Crisil AA-/Stable/A1+'. This reflects the company's robust Rs 14,733 Cr order book, strong operating efficiency, and improved financial health post a Rs 425 Cr IPO.