ScoutQuest28 Sep 2026
Mahindra & Mahindra500520Credit rating maintained/reaffirmed

ICRA reaffirms [ICRA]AAA (Stable)/A1+ on M&M's Rs.1,150 crore instruments and facilities

By ScoutQuest · · 1 min read

[ICRA]AAAReaffirmed · ICRA Limited
Reaffirmed by ICRA Limited · [ICRA]AAA · outlook Stable.
Long-term Rating
[ICRA]AAA (Stable)
Short-term Rating
[ICRA]A1+
NCD Amount
Rs.500 crore
Tractor Market Share
44.3%
Agency
ICRA Limited

ICRA reaffirms [ICRA]AAA (Stable)/A1+ on M&M's Rs.1,150 crore instruments and facilities.

Previous rating action
Rating date
Verification date
Previous rating action 29 Sep 2025 · Rating date 28 Sep 2026 · Verification date 28 Sep 2026
More numbers
  • NCD programme rated amount500.00 (Rs. crore)
  • Long-term non-fund based facilities6.25 (Rs. crore)
  • Short-term non-fund based facilities643.75 (Rs. crore)
  • Total rated amount1,150.00 (Rs. crore)
  • Tractor market share 4M FY202744.3%
  • UV market share Q1 FY202720.3%
  • Capex plan FY2027-FY2028Rs. 20,000-25,000 crore
  • NCD coupon rate9.55%
  • Standalone operating income FY2026145,575.8 (Rs. crore)
  • Standalone PAT FY202615,638.9 (Rs. crore)
Source: BSE · 28 Sep 2026

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