PPAP Automotive Limited Receives Credit Rating Reaffirmation from CRISIL
PPAP Automotive Limited received reaffirmation of its credit ratings from CRISIL, with long-term rating CRISIL A-/Stable and short-term rating CRISIL A2+ maintained. The ratings cover Rs.200 crore total bank facilities across multiple banking partners including ICICI Bank, HDFC Bank, Axis Bank, State Bank of India, and HSBC Bank. The company informed stock exchanges on April 17, 2026, with the rating letter valid until March 31, 2027.
*this image is generated using AI for illustrative purposes only.
PPAP Automotive Limited has announced the reaffirmation of its credit ratings by CRISIL, maintaining its financial credibility in the automotive sector. The company informed the BSE and NSE on April 17, 2026, about this significant development under Regulation 30 of SEBI's listing obligations.
Credit Rating Details
CRISIL has reaffirmed both long-term and short-term credit ratings for the company, reflecting stable financial health and creditworthiness.
| Rating Type: | Rating | Status |
|---|---|---|
| Long Term Rating: | CRISIL A-/Stable | Reaffirmed |
| Short Term Rating: | CRISIL A2+ | Reaffirmed |
| Total Bank Facilities: | Rs.200 Crore | - |
Banking Facility Distribution
The Rs.200 crore total bank loan facilities are distributed across multiple reputed banking partners, demonstrating diversified financial relationships. The facilities include various types of banking arrangements to support the company's operational and capital requirements.
Major Banking Partners and Facilities
The company maintains banking relationships with several leading financial institutions:
- ICICI Bank Limited: Largest exposure with facilities including Rs.22 crore cash credit, Rs.23.39 crore term loan, Rs.9.5 crore bank guarantee, Rs.10 crore capex letter of credit, and Rs.5 crore letter of credit
- HDFC Bank Limited: Rs.18 crore cash credit, Rs.9.94 crore term loan, and Rs.4.34 crore bank guarantee
- Axis Bank Limited: Rs.20 crore cash credit, Rs.28.14 crore term loan, and Rs.1.21 crore bank guarantee
- State Bank of India: Rs.10 crore cash credit and Rs.6.69 crore term loan
- HSBC Bank Plc: Rs.10 crore cash credit facility
Facility Breakdown by Type
The banking facilities encompass various financial instruments designed to support different business requirements:
| Facility Type: | Total Amount (Rs. Crore) | Rating |
|---|---|---|
| Cash Credit: | 80.00 | CRISIL A-/Stable |
| Term Loans: | 68.16 | CRISIL A-/Stable |
| Proposed Fund-Based Limits: | 21.79 | CRISIL A-/Stable |
| Bank Guarantees: | 15.05 | CRISIL A2+ |
| Letters of Credit: | 15.00 | CRISIL A2+ |
Rating Validity and Compliance
The CRISIL rating letter, dated April 16, 2026, confirms that the ratings remain valid until March 31, 2027. The rating agency maintains continuous surveillance of all assigned ratings and reserves the right to withdraw or revise ratings based on new information or changing circumstances. The company's diverse banking relationships and maintained credit ratings demonstrate financial stability and strong relationships with the banking sector, supporting its operational and growth requirements in the automotive industry.
Historical Stock Returns for PPAP Automotive
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.05% | +3.82% | +8.49% | -21.13% | +19.84% | +13.35% |
How might PPAP Automotive utilize the Rs.200 crore banking facilities to expand its market share in the evolving electric vehicle automotive sector?
What impact could potential interest rate changes have on PPAP's debt servicing costs given its substantial term loan exposure of Rs.68.16 crore?
Will PPAP Automotive seek to increase its banking facilities or diversify to additional lenders before the rating validity expires in March 2027?
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