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Solar Industries India Ltd’s Rs 500 crore commercial paper reaffirmed as [ICRA]A1+ by ICRA Limited

23-Sep-26 18:47 Hrs IST

Solar Industries India Ltd announced that ICRA Limited has reaffirmed its rating of [ICRA]A1+ on the outstanding Commercial Paper amounting to Rs 500.00 crore, maturing on September 23, 2026, while also providing a consolidated view of its subsidiary, Solar Defence and Aerospace Limited, with a rating of [ICRA]A1+; furthermore, ICRA noted an expected increase in consolidated acquisition debt levels, although management intends to maintain the consolidated net debt/OPBDITA below 2.0 times, with key monitorables including deleveraging and liquidity position, and the outstanding rating continues to factor in established market position, diversified presence, strong operating performance, and increasing contribution from the defence business.

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