Wheels India Limited Receives Credit Rating Reaffirmation from ICRA Limited
Wheels India Limited received comprehensive credit rating reaffirmation from ICRA Limited on February 18, 2026, covering instruments worth Rs 1,405.00 crore. The rating agency maintained [ICRA]A (Stable) ratings for long-term facilities and [ICRA]A2+ for short-term instruments across term loans, working capital facilities, non-fund based limits, and fixed deposits. The company maintains diversified banking relationships with major institutions including State Bank of India, HDFC Bank, Standard Chartered Bank, Axis Bank, Federal Bank, and Kotak Mahindra Bank.
*this image is generated using AI for illustrative purposes only.
Wheels India Limited has received credit rating reaffirmation from ICRA Limited across multiple financial instruments, demonstrating the company's stable creditworthiness. The rating agency communicated its decision on February 18, 2026, maintaining consistent ratings across the company's diverse funding portfolio.
Credit Rating Details
ICRA Limited reaffirmed credit ratings for various instruments totaling Rs 1,405.00 crore. The rating actions encompass both long-term and short-term financial facilities across different categories.
| Instrument Type | Rated Amount (Rs. crore) | Rating Assigned | Action |
|---|---|---|---|
| Long Term Fund Based Term Loans | 135.00 | [ICRA]A (Stable) | Reaffirmed |
| Long Term/Short-term Fund Based | 560.00 | [ICRA]A (Stable)/[ICRA]A2+ | Reaffirmed |
| Long Term Unallocated | 100.00 | [ICRA]A (Stable) | Reaffirmed/Enhanced |
| Short Term Non-Fund Based | 300.00 | [ICRA]A2+ | Reaffirmed |
| Long-term Fixed Deposits | 310.00 | [ICRA]A (Stable) | Reaffirmed |
| Total | 1,405.00 |
Banking Partner Distribution
The company maintains credit facilities with multiple leading financial institutions. For term loans totaling Rs 235.00 crore, the distribution includes Axis Bank and HDFC Bank with Rs 67.00 crore each, Kotak Mahindra Bank with Rs 1.00 crore, and Rs 100.00 crore allocated as unallocated limits.
Short-term non-fund based facilities worth Rs 300.00 crore are distributed among:
- Standard Chartered Bank: Rs 150.00 crore
- State Bank of India: Rs 50.00 crore
- Axis Bank Limited: Rs 55.00 crore
- HDFC Bank, Federal Bank, and Kotak Mahindra Bank: Rs 15.00 crore each
Fund-Based Working Capital Facilities
The company's fund-based working capital facilities including cash credit, packing credit, and WCDL amount to Rs 560.00 crore, rated [ICRA]A (Stable)/[ICRA]A2+. State Bank of India provides the largest facility at Rs 250.00 crore, followed by HDFC Bank at Rs 90.00 crore and Standard Chartered Bank at Rs 70.00 crore.
| Bank | Amount (Rs. crore) | Rating |
|---|---|---|
| State Bank of India | 250.00 | [ICRA]A (Stable)/[ICRA]A2+ |
| HDFC Bank | 90.00 | [ICRA]A (Stable)/[ICRA]A2+ |
| Standard Chartered Bank | 70.00 | [ICRA]A (Stable)/[ICRA]A2+ |
| Federal Bank, Axis Bank, Kotak Mahindra Bank | 50.00 each | [ICRA]A (Stable)/[ICRA]A2+ |
Regulatory Compliance
Wheels India Limited communicated this development to both National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's proactive disclosure demonstrates adherence to regulatory requirements and transparency in financial communications.
The rating reaffirmation across all instrument categories reflects ICRA's continued confidence in the company's credit profile and debt servicing capabilities. All ratings are subject to periodic surveillance and review based on the company's operational and financial performance.
Historical Stock Returns for Wheels
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.02% | +4.76% | +4.83% | +23.94% | +56.14% | +95.21% |
