Shriram Pistons & Rings Limited has successfully completed the redemption of Commercial Papers worth Rs. 10,000 Million on February 24, 2026. The company fulfilled its payment obligations in accordance with SEBI regulations, demonstrating its commitment to meeting debt obligations on schedule.

Commercial Paper Redemption Details

The redemption was executed under the framework of SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021, read with SEBI Master Circular No. SEBI/HO/DDHS/DDHS-PoD/P/CIR/2025/0000000137 dated October 15, 2025. The company paid the full maturity value on the scheduled due date.

Regulatory Compliance and Communication

Shriram Pistons & Rings Limited has informed both the National Stock Exchange of India Limited and BSE Limited about the successful redemption. The company's communication was signed by Pankaj Gupta, Company Secretary & Compliance Officer, ensuring proper corporate governance protocols were followed.

The company has also updated its official website at www.shrirampistons.com with this information, maintaining transparency with stakeholders and investors. This redemption reflects the company's strong financial position and ability to meet its debt obligations as they mature.

Market Impact

The timely redemption of Commercial Papers worth Rs. 10,000 Million demonstrates Shriram Pistons & Rings Limited's financial discipline and liquidity management capabilities. Commercial Papers are short-term debt instruments, and their successful redemption on the due date indicates the company's operational cash flow strength and access to adequate funding sources.

Shriram Pistons & Rings Limited has announced a significant credit rating upgrade from India Ratings & Research Private Limited, enhancing its financial standing in the market. The rating agency upgraded the company's issuer rating to IND AA+/Stable from IND AA while resolving the Rating Watch with Positive Implications.

Rating Upgrade Details

India Ratings & Research Private Limited communicated the rating upgrade through letters dated February 11, 2026, which the company received on the same day at 8:00 PM. The comprehensive upgrade covers multiple financial instruments and facilities.

Bank Facilities Breakdown

The upgraded bank loan facilities worth INR 5,738.61 million are distributed across multiple leading financial institutions. The facilities include both fund-based and non-fund-based working capital limits along with term loans.

Commercial Paper Programme

The rating agency affirmed the company's commercial paper programme rating at IND A1+ for instruments with maturity up to 365 days. The programme size remains at INR 10,000 million, providing the company with short-term funding flexibility.

Regulatory Compliance

Shriram Pistons & Rings Limited informed both the National Stock Exchange of India Limited and BSE Limited about the rating upgrade on February 12, 2026. The communication was made pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also placed this information on its website at www.shrirampistons.com for stakeholder access.

Key Highlights

The rating upgrade reflects several positive developments:

• Enhanced creditworthiness with IND AA+/Stable rating
• Removal from Rating Watch with Positive Implications
• Comprehensive coverage across all major financial instruments
• Maintained short-term rating strength at IND A1+
• Diversified banking relationships across leading institutions

The upgrade positions the company favorably for future financing requirements and demonstrates improved financial metrics that warranted the enhanced credit assessment by India Ratings & Research Private Limited.