Sundaram Brake Linings Limited has informed stock exchanges about ICRA's latest rating action on its banking facilities. The credit rating agency has reaffirmed the company's ratings while revising the outlook to Negative from Stable, reflecting a cautious stance on the company's credit profile.

Rating Action Details

ICRA has taken specific rating actions across different categories of banking facilities. The rating communication dated March 27, 2026, covers both long-term and short-term facilities totaling Rs. 114.07 crore.

Banking Facility Breakdown

The rated facilities are distributed across multiple banking partners and facility types. The long-term facilities worth Rs. 110.00 crore include both term loans and working capital arrangements.

Long-term Scale Facilities

Short-term Scale Facilities

The short-term facilities totaling Rs. 4.07 crore received an [ICRA]A2 rating, which was reaffirmed without any outlook change.

Regulatory Compliance

The company has communicated this rating action to both NSE and BSE in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was signed by Hari S, Chief Financial Officer of the company, and includes reference to the detailed rating rationale available on ICRA's website.

ICRA has indicated that the ratings will be due for surveillance within one year from the rating communication date, with the agency reserving the right to review or revise ratings based on new information or changing circumstances.

Sundaram brake linings Limited has announced the appointment of Mr. Hari S as Chief Financial Officer and Key Managerial Person, effective March 9, 2026. The appointment was formalized during a board meeting held on March 9, 2026, following recommendations from the Nomination and Remuneration Committee and Audit Committee.

Board Approval and Regulatory Compliance

The Board of Directors approved the appointment during their meeting that commenced at 11.55 A.M. and concluded at 12.20 P.M. on March 9, 2026. The appointment has been made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Industry Standards.

Professional Background and Expertise

Mr. Hari S is a Fellow Chartered Accountant (FCA) with over 30 years of experience in Finance & Accounts, Banking, Taxation, Project Finance, and Corporate Financial Management. His extensive professional background includes leadership roles across various sectors and organizations.

He previously served as GM (F&A) at New Tirupur Area Development Corporation Limited (NTADCL), a Government of Tamil Nadu promoted infrastructure SPV, where he discharged the functions of CFO and Key Managerial Personnel. During his tenure at NTADCL, the company achieved sustained profitability and successfully pre-closed consortium term loans ahead of schedule.

Previous Experience and Achievements

Mr. Hari S has also served as Chief Finance Manager at ITI Limited, a listed PSU, where he managed banking exposure and handled corporate finance, taxation, budgeting, and consortium banking operations. His career includes leadership roles in corporate finance, internal audit, and strategic consulting across large infrastructure and manufacturing organizations.

His core competencies include:

• Financial restructuring and turnaround management
• Fund raising and consortium banking
• Statutory compliance and taxation
• Board-level financial reporting
• Corporate Debt Restructuring (CDR) matters
• Multi-bank consortium arrangements

Updated Authorization Framework

Following the appointment, Sundaram Brake Linings Limited has updated its list of authorized personnel for determining materiality of events under Regulation 30(5) of the SEBI Listing Regulations, effective March 9, 2026.

Strategic Leadership Capabilities

Mr. Hari S brings demonstrated leadership capabilities, having managed large finance teams and presented financial proposals and policy matters before Boards and Audit Committees. His experience spans both listed entities and large infrastructure projects, providing strategic financial oversight and governance expertise that will benefit the company's continued growth and compliance requirements.