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Crisil Ratings upgrades Jindal Stainless' rating to stable

15 Nov 2023 Evaluate

Credit rating agency -- Crisil Ratings has upgraded Jindal Stainless’ rating to stable from positive. Long-term bank facilities and debt programme of Jindal Stainless were revised from ‘AA-/Positive’ to ‘AA/Stable’. As per Crisil, the ratings upgrade for Jindal Stainless acknowledges an improved business risk profile, forward integration through recent capacity expansions and acquisitions, and effective working capital management. The enhanced rating for Jindal Stainless reflects the company’s prudent capital allocation strategy for strong business management. 

Jindal Stainless (JSL) is one of the largest stainless steel conglomerates in India and ranks amongst the top 10 stainless steel conglomerates in the world.

Peers
Company Name CMP
JSW Steel 1255.00
Tata Steel 184.65
Steel Authority 181.60
Jindal Stainless 746.95
APL Apollo Tubes 2181.05
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