DCM Shriram Industries Ltd has received a comprehensive credit rating downgrade from CARE Edge Ratings across its bank facilities and fixed deposit programme. The rating agency communicated the revised ratings through letters dated April 1, 2026, following a detailed review of the company's operational and financial performance.

Rating Downgrades with Facility Details

CARE Edge Ratings has downgraded multiple facilities of DCM Shriram Industries based on its performance review for Financial Year 2024-25 and the nine months period ended December 31, 2025. The rating agency also considered the impact of the Composite Scheme of Arrangement approved by the National Company Law Tribunal (NCLT).

Facility Composition and Bank Details

The long-term bank facilities totaling ₹441.79 crore comprise term loans of ₹48.59 crore and fund-based limits of ₹393.20 crore. Major banking partners include State Bank of India (₹142.00 crore), Punjab National Bank (₹111.46 crore), HDFC Bank Ltd (₹85.00 crore), and Axis Bank Ltd (₹54.74 crore) for fund-based facilities.

Removal from Rating Watch

A significant development in the rating action is the removal of all facilities from Rating Watch with Negative implications. The long-term bank facilities and fixed deposit programme have been assigned a stable outlook, indicating that CARE Edge expects the ratings to remain steady in the near term despite the downgrades.

Regulatory Compliance and Documentation

The company disclosed this rating action in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information was communicated to both BSE Ltd and National Stock Exchange of India Ltd on April 2, 2026, with a follow-up communication on April 7, 2026, addressing a discrepancy query from BSE. The disclosure was signed by Y.D. Gupta, Company Secretary and Compliance Officer, demonstrating the company's commitment to maintaining proper corporate governance standards.

Source: Company/INE843D01027/d2ec0bb9-6857-4d33-be71-3741b65ecaac.pdf

DCM Shriram Industries has disclosed a substantial acquisition of shares by Urvashi Tilakdhar under SEBI Takeover Regulations. The transaction involved the acquisition of 508,158 shares representing 0.58% of the company's diluted share capital through an off-market transfer completed on 30/03/2026.

Transaction Details

The share acquisition was executed as part of a distribution of assets through partition of Hindu Undivided Family (HUF). The transaction was structured as an off-market transfer from the seller, Tilak Dhar & Sons, to the acquirer Urvashi Tilakdhar.

Shareholding Changes

The acquisition resulted in a significant change in Urvashi Tilakdhar's shareholding pattern in the company. Her total stake increased from 9.70% to 10.28% following the completion of this transaction.

Regulatory Compliance

The acquisition was made under the exemption provided in Regulation 10(1)(a)(i) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquirer was therefore exempted from making an open offer to other shareholders.

The company filed the required disclosure under Regulation 10(5) with the stock exchanges on 21/03/2026, ahead of the actual acquisition date. The shares of DCM Shriram Industries are listed on both NSE and BSE.

Acquirer Information

Urvashi Tilakdhar, holding PAN number AAHPD8762D, is based at 27, Sardar Patel Marg, New Delhi - 110021. The acquisition strengthens her position as a significant shareholder in the company, with her holding now exceeding the 10% threshold that typically triggers enhanced disclosure requirements.