Emmvee Photovoltaic Power Receives Credit Rating Upgrade from ICRA
Emmvee Photovoltaic Power Limited received a credit rating upgrade from ICRA Limited on January 23, 2026, with its long-term fund-based term loan rating improved from A-(Stable) to A(Stable). The rating agency also reaffirmed multiple other ratings for the company and its wholly owned subsidiary Emmvee Energy Private Limited across various credit facilities. The upgrade demonstrates enhanced creditworthiness and financial stability of the solar energy company and its subsidiary operations.
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Emmvee Photovoltaic Power Limited has announced a credit rating upgrade from ICRA Limited, effective January 23, 2026. The rating agency has upgraded the company's long-term fund-based term loan rating while reaffirming multiple other credit ratings for both the company and its wholly owned subsidiary.
Credit Rating Upgrades and Reaffirmations
ICRA Limited has upgraded Emmvee Photovoltaic Power Limited's long-term fund-based term loan rating from A-(Stable) to A(Stable). Additionally, the rating agency has reaffirmed several existing ratings across different facility types.
| Entity | Facility Type | Previous Rating | Revised Rating |
|---|---|---|---|
| Emmvee Photovoltaic Power Limited | Long-term Fund-based Term loan | A-(Stable) | A(Stable) |
| Emmvee Photovoltaic Power Limited | Long-term/Short-term Fund based Facilities | A-(Stable)/A2+ | A(Stable)/A2+ reaffirmed |
| Emmvee Photovoltaic Power Limited | Long-term/Short-term Non-fund based Others | A2+ | A2+ reaffirmed |
| Emmvee Photovoltaic Power Limited | Short-term Interchangeable limits LC/BG | A2+ | A2+ reaffirmed |
Subsidiary Rating Reaffirmations
Emmvee Energy Private Limited, the wholly owned subsidiary of Emmvee Photovoltaic Power Limited, has received rating reaffirmations across its credit facilities. The subsidiary's ratings demonstrate consistent creditworthiness across its operational framework.
| Facility Type | Previous Rating | Revised Rating |
|---|---|---|
| Short-term Non-fund based Others | A2+ | A2+ reaffirmed |
| Long-term/Short-term Fund-based/Non-fund based Others | A-(Stable)/A2+ | A(Stable)/A2+ reaffirmed |
| Long-term Fund-based Cash credit | A-(Stable) | A(Stable) |
Regulatory Compliance
The company has disclosed this information in compliance with Regulation 30(6) read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made through proper channels to both BSE Limited and National Stock Exchange of India Limited on January 23, 2026.
Corporate Structure
The rating revision covers both Emmvee Photovoltaic Power Limited and its wholly owned subsidiary Emmvee Energy Private Limited. This comprehensive rating assessment reflects the consolidated financial strength and operational capabilities of the group's solar energy business operations.
Historical Stock Returns for Emmvee Photovoltaic Power
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.04% | +6.82% | +9.50% | -7.71% | -7.71% | -7.71% |
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