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2025 - 2026 ANNUAL REPORT

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2025 - 2026 ANNUAL REPORT
2025 - 2026 ANNUAL REPORT

Our credit ratings since FY25.

InstrumentCRISIL Ratings LimitedCARE Edge Ratings LimitedIndia Rating and Research
Private Limited
ICRA Limited
Long-Term Debt Programme -
Term LoansAA / StableAA / StableAA / Positive-
Non-Convertible DebenturesAA / StableAA / StableAA / Positive-
Subordinate DebtAA / StableAA / Stable--
Short Term Debt Programme -
Commercial Papers-A1+-A1+
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Debenture Trustee

Catalyst Trusteeship Limited 
Address: GDA House, Plot No. 85, Bhusari 
Colony (Right), Paud Road, Pune - 411 038
Telephone: +91 (022) 66807200/223
Fax: +91 (020) 2528 0275
E-mail: ComplianceCTL-Mumbai@ctltrustee.com
Website: www.catalysttrustee.com


Beacon Trusteeship Limited 
Address: 5W, 5th Floor, The Metropolitan, 
E-Block, Bandra Kurla Complex, Bandra 
(E), Mumbai 400051
Telephone: 022 - 46060278
E-mail: compliance@beacontrustee.co.in
Website: https://beacontrustee.co.in/


Vardhman Trusteeship Pvt Limited 
Address: The Capital, 421A, Bandra Kurla 
Complex, Bandra East, 
Mumbai 400051
Telephone: +91 (022)-(42648335)
Fax: +91 (022)-(42648335)
E-mail: complaince@vardhmantrustee.com
Website: https://vardhmantrustee.com/