Waaree Renewable Technologies Limited (WRTL) has recently received an upgraded credit rating for its bank facilities totaling ₹1,423 crore from Care Ratings Limited. The company’s long-term bank facilities of ₹28.94 crore and long-term/short-term bank facilities of ₹1,394.06 crore have both been upgraded from “CARE A-; Stable” to “CARE A; Stable,” with the short-term rating improving from “CARE A2” to “CARE A1.”
The upgrade comes after a review of the company’s operational and financial performance for FY24 (Audited) and 9M-FY25 (Unaudited). WRTL, a subsidiary of Waaree Energies Limited, has banking facilities with various lenders including ICICI Bank Ltd. (₹400 crore), RBL Bank Limited (₹160 crore), HSBC Ltd. (₹150 crore), Yes Bank Ltd. (₹150 crore), and HDFC Bank Ltd. (₹125 crore), among others.
Care Ratings mentioned that they will continue to monitor and review the rating periodically, with at least one review per year.
On the stock market front, the shares of Waaree Renewable Technologies Limited (WRTL) closed at ₹808.25 on the BSE, a decrease of ₹6.05 or 0.74%.
Published on March 13, 2025.
