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ICRA Reaffirms [ICRA]AA (Stable) and [ICRA]A1+ Ratings for Sansera Engineering's Rs 996 Cr Debt
ICRA has reaffirmed the credit ratings for Sansera Engineering Limited's total bank facilities amounting to Rs 996 crore. The long-term rating is maintained at [ICRA]AA with a Stable outlook, while the short-term rating remains at [ICRA]A1+. This reaffirmation indicates a consistent credit profile and stable financial health for the company. The rated facilities include Rs 206.20 crore in term loans and Rs 739.50 crore in fund-based working capital limits.
Key Highlights
Total bank facilities worth Rs 996.00 crore were reviewed and reaffirmed by ICRA.
Long-term rating for Rs 206.20 crore in term loans reaffirmed at [ICRA]AA with a Stable outlook.
Short-term rating for Rs 739.50 crore in fund-based cash credit reaffirmed at [ICRA]A1+.
Key lending partners include ICICI Bank (Rs 200 cr), Citi Bank (Rs 180 cr), and HDFC Bank (Rs 160 cr term loan).
Unallocated limits of Rs 7.90 crore also reaffirmed at [ICRA]AA(Stable)/[ICRA]A1+.
💼 Action for Investors
The reaffirmation of high credit ratings suggests the company maintains a strong balance sheet and low credit risk. Investors should maintain their current outlook as there is no change in the credit profile.
ICRA Reaffirms Sansera Engineering's Credit Rating at AA (Stable) and A1+
ICRA has reaffirmed Sansera Engineering's long-term rating at [ICRA]AA (Stable) and short-term rating at [ICRA]A1+. The company's financial risk profile has strengthened significantly following a ₹1,200 crore QIP in Q3 FY2025, which was primarily used for debt repayment. With a robust order book of over ₹2,000 crore and steady operating margins of 17.3% in H1 FY2026, the company is well-positioned for growth. Despite a high annual capex plan of ₹350-400 crore, liquidity remains strong with cash balances exceeding ₹350 crore.
Key Highlights
ICRA reaffirmed Long-term rating at [ICRA]AA (Stable) and Short-term at [ICRA]A1+.
Capital structure improved significantly post-₹1,200 crore QIP used for debt prepayment.
Order book stands at over ₹2,000 crore as of September 30, 2025, across ICE, xEV, and non-auto segments.
Operating margins remained healthy and stable at 17.3% in H1 FY2026.
Planned annual capex of ₹350-400 crore to be funded largely through internal accruals.
💼 Action for Investors
The rating reaffirmation and significant debt reduction post-QIP provide a strong margin of safety. Investors should monitor the company's progress in diversifying into Aerospace and EV segments to mitigate ICE-related risks.