Ramco Cements has announced that CRISIL Ratings Limited has assigned and reaffirmed credit ratings for its debt instruments under Regulation 30 of SEBI regulations. The cement manufacturer received a new AA+/Stable rating for its non-convertible debentures programme and had its existing commercial paper rating reaffirmed at the highest short-term level.

Credit Rating Details

CRISIL Ratings has provided ratings for two key debt instruments of the company:

The ratings were communicated through letters dated March 13, 2026, with the company making the disclosure on March 16, 2026.

Rating Significance

The CRISIL AA+/Stable rating assigned to the Rs. 500.00 crore non-convertible debentures indicates that these securities are considered to have a high degree of safety regarding timely servicing of financial obligations. According to CRISIL, such securities carry very low credit risk, reflecting the company's strong financial position.

The CRISIL A1+ rating reaffirmation for the Rs. 900.00 crore commercial paper programme represents the highest short-term rating category. Securities with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations and carry the lowest credit risk.

Validity and Surveillance

For the commercial paper programme, the rating letter remains valid for 60 calendar days from March 13, 2026, for issuance purposes. Once issued, the rating remains valid throughout the life of the commercial paper programme with a maximum maturity of one year, unless revised by CRISIL.

The non-convertible debentures rating requires utilization within 180 days from the rating date. If the company does not make the issue within this period or changes the size or structure of the proposed issue, a fresh revalidation letter from CRISIL will be necessary.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As per SEBI requirements, the company will need to provide the International Securities Identification Number (ISIN) details to CRISIL within two days after allotment for any bond or debenture issuances made against the rating.

CRISIL maintains continuous surveillance of all assigned ratings and reserves the right to withdraw or revise ratings based on new information or changing circumstances that may impact the credit profile of the instruments.

Ramco cements has completed the disposal of non-core assets worth Rs.59.56 crores to Rainbow Foundations Limited on 26 February 2026. The transaction represents a continuation of the company's strategic asset disposal program aimed at debt reduction and financial optimization.

Asset Disposal Strategy Progress

The latest transaction brings the total value of non-core assets disposed by the company to Rs.1,080.82 crores. This achievement surpasses the company's initial target announced in November 2024, when it proposed to dispose of non-core assets with a targeted value of approximately Rs.1,000 crores.

Previous Disposal Announcements

The company's asset disposal program was first announced during the Q2FY25 results in November 2024, with an initial target of Rs.1,000 crores. Subsequently, in December 2025, the company expanded its disposal plans by announcing the intention to dispose of additional non-core assets worth approximately Rs.200 crores.

Transaction Details and Compliance

The disposal was executed through a sale deed between The Ramco Cements Limited and Rainbow Foundations Limited. The transaction involves the sale of land owned by the company and has been disclosed under Regulation 30(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Impact

The proceeds from the disposal of non-core assets are being directed toward reducing the company's debt obligations. This strategic approach to asset optimization demonstrates the company's commitment to strengthening its balance sheet and improving financial efficiency through the monetization of non-essential assets.

The successful completion of this disposal program, which has exceeded the original Rs.1,000 crore target, positions the company favorably for enhanced financial flexibility and reduced debt servicing costs.