CRISIL Upgrades Lumax Auto Technologies' Long-Term Credit Rating to AA/Stable
CRISIL Ratings has upgraded Lumax Auto Technologies Limited's long-term credit rating from CRISIL AA-/Positive to CRISIL AA/Stable while reaffirming its CRISIL A1+ short-term rating. The rating action covers Rs. 332 crore in total bank facilities distributed across multiple banking partners including HDFC Bank, ICICI Bank, and Kotak Mahindra Bank. The company also received reaffirmation of its CRISIL A1+ rating for its Rs. 50 crore commercial paper programme, indicating very strong safety regarding timely payment obligations.
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Lumax Auto Technologies Limited has received a credit rating upgrade from CRISIL Ratings Limited, with the agency upgrading the company's long-term credit rating while reaffirming its short-term ratings. The rating action was communicated to stock exchanges on March 07, 2026, in compliance with regulatory disclosure requirements.
Credit Rating Enhancement Details
CRISIL Ratings has upgraded Lumax Auto Technologies' long-term credit rating from CRISIL AA-/Positive to CRISIL AA/Stable, representing an improvement in the company's creditworthiness assessment. Simultaneously, the rating agency reaffirmed the company's short-term and commercial paper credit rating at CRISIL A1+.
| Rating Type | Previous Rating | New Rating |
|---|---|---|
| Long Term | CRISIL AA-/Positive | CRISIL AA/Stable |
| Short Term/Commercial Paper | CRISIL A1+ | CRISIL A1+ |
The rating upgrade covers total bank loan facilities worth Rs. 332 crore, reflecting CRISIL's enhanced confidence in the company's ability to meet its financial obligations.
Facility-wise Rating Distribution
The rated facilities are distributed across multiple banking partners, demonstrating the company's diversified banking relationships. The facilities include cash credit lines, long-term bank facilities, non-fund based limits, and working capital demand loans.
| Facility Type | Bank Partner | Amount (Rs. Crore) | Rating |
|---|---|---|---|
| Cash Credit | HDFC Bank Limited | 10.00 | CRISIL AA/Stable |
| Cash Credit | ICICI Bank Limited | 50.00 | CRISIL AA/Stable |
| Cash Credit | YES Bank Limited | 20.00 | CRISIL AA/Stable |
| Long Term Bank Facility | Kotak Mahindra Bank Limited | 75.00 | CRISIL AA/Stable |
| Long Term Bank Facility | Kotak Mahindra Investments Limited | 50.00 | CRISIL AA/Stable |
| Proposed Long Term Bank Loan | -- | 62.00 | CRISIL AA/Stable |
| Working Capital Demand Loan | CTBC Bank Co Limited | 10.00 | CRISIL A1+ |
Commercial Paper Programme Reaffirmation
CRISIL Ratings has also reaffirmed its CRISIL A1+ rating on the company's Rs. 50 crore commercial paper programme. According to CRISIL, 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.
The commercial paper rating letter remains valid for 60 calendar days from March 07, 2026, for the purpose of issuance. Once issued, the rating remains valid throughout the life of the commercial paper programme with a maximum maturity of one year.
Regulatory Compliance and Documentation
The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Pankaj Mahendru communicated the rating actions to both BSE Limited and National Stock Exchange of India Limited, ensuring transparency for investors and stakeholders.
The rating letters dated March 07, 2026, issued by CRISIL Ratings Limited, provide comprehensive details of the rating rationale and facility-wise breakdowns, supporting the company's enhanced credit profile in the market.
Historical Stock Returns for Lumax Auto Technologies
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.56% | -12.37% | +0.72% | +43.34% | +199.84% | +862.85% |
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