Jain Irrigation Systems Limited — Credit Ratings, 19-08-2026: Credit Rating

CRISIL reaffirmed Jain Irrigation's long-term rating at 'BBB-/Negative' and short-term at 'A3' for Bank Loan Facilities (2,930 Cr) and NCDs (785.63 Cr). The 'Negative' outlook persists due to elevated refinancing risk, with ~671 Cr debt due in FY27 against modest cash accruals. The company is progressing with refinancing ~652 Cr NCDs/ECB2s, having a signed term sheet targeted for August-end.