UltraTech Cement Limited — Credit Ratings, 23-07-2026: Credit Rating

UltraTech Cement's ratings were reaffirmed by Crisil Ratings. The agency assigned 'Crisil AAA/Stable' to new Rs 2,000 Cr Non-convertible debentures and reaffirmed 'Crisil AAA/Stable/Crisil A1+' for existing debt instruments and bank facilities. This reflects UltraTech's leading market position, robust financial health with an improving debt-to-EBITDA ratio (1.1x in FY26), and strong operating efficiency.