NSECredit Rating3 Jul 2026 · 3 Jul 2026, 01:18 pm
Credit Rating
Bharat Heavy Electricals Limited · BHEL
✦ AI Summary▲ PositiveRating Change
Bharat Heavy Electricals Limited (BHEL) has informed the Exchange about Credit Rating upgrade by M/s CRISIL Ratings to 'Crisil AA / Stable' from 'Crisil AA -/ Stable' with reaffirmation of short term rating.
Analysis Scores
Earnings Impact2/10
Growth Catalyst3/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk2/10
Liquidity Impact8/10
Market Sentiment9/10
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Full Announcement
Bharat Heavy Electricals Limited has informed the Exchange about Credit Rating
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BHELCC_03072026131840_Info_for_SE_03_07_2026.pdf
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Ref: CC/MISC/2026-27/13
Date: 03.07.2026
1. BSE Limited, Mumbai
2. National Stock Exchange of India Ltd., Mumbai
Subject: Information to Stock exchange on BHEL’s Credit Rating Upgrade by
M/s CRISIL Ratings.
Sir/Madam,
Information regarding BHEL’s Credit Rating by M/s CRISIL Ratings is enclosed as
annexure for kind information and records please.
For Bharat Heavy Electricals Limited
(Jaya Mitra)
Manager, Corporate Communication
Ref: AA:CS:Rating:CRISIL Ratings Date: 03-07-2026
Listing Department Listing Department
National Stock Exchange of India Ltd BSE Limited,
Exchange Plaza, 5th Floor, Floor 1, Phiroze Jeejeebhoy Towers
Plot No. C/1, G Block, Dalal Street,
Bandra-Kurla Complex, Bandra (East) Mumbai - 400001
Mumbai - 400051
Sub: Intimation of Rating (Rating Upgraded by M/s. CRISIL Ratings)
Dear Sir/Madam,
Pursuant to the Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015,
we hereby inform you that M/s Crisil Ratings has reviewed and upgraded the rating for the company to “Crisil AA
/ Stable” from “Crisil AA -/ Stable” while re-affirming short term rating. Details of ratings are as under:
Facilities/ Instruments Rating Basis
Long Term Rating/ Outlook:
Crisil AA / Stable
Short Term Rating:
Total Bank Loan Facilities rated Operational & Financial
Crisil A1+
performance for & up
(Rs 80000 Crores) to FY 2025-26
(Long term Rating Upgraded to “Crisil AA” from
“Crisil AA -”; Short Term Rating reaffirmed at
Highest level “A1+”)
This is for your information and records.
Thanking You,
Yours Sincerely,
Digitally signed by Malathi
Malathi Hariharan
Hariharan
Date: 2026.07.03 12:23:09 +05'30'
Executive Director (Finance)
BHEL Corporate Identity Number (CIN) L74899DL1964GOI004281 Web : www.bhel.com
(cid:269)(cid:323)(cid:255)(cid:305)(cid:248)(cid:308)(cid:263) (cid:248)(cid:301)(cid:274)(cid:301)(cid:330)(cid:277)(cid:274): (cid:272)(cid:312)(cid:277) (cid:286)(cid:301)(cid:234)(cid:285), (cid:285)(cid:305)(cid:275)(cid:305) (cid:270)(cid:316)(cid:258)(cid:330), (cid:267)(cid:233) (cid:302)(cid:265)(cid:671)(cid:305) 110049, (cid:272)(cid:301)(cid:275)(cid:263) .(cid:270)(cid:316)(cid:267): 011-66337000, (cid:270)(cid:313)(cid:411) :011-66337428
Regd. Office : BHEL HOUSE, Siri Fort, New Delhi-110049, INDIA. Phone: 011-66337000, Fax: 011-66337428