FORCE MOTORS : CRISIL REAFFIRMS CRISIL AA+/STABLE AND A1+ RATINGS ON RS 765 CR BANK FACILITIES

• Ratings reaffirmed on total bank loan facilities of ₹765 Cr • Company remains debt free; FY26 revenue up ~12% to ₹9,073 Cr • Operating margin at 16.5% (16.5% v 13.8% YOY), though Q1FY27 margin moderated to 13.4% from 14.5% • Impact: reaffirmed AA+/Stable and A1+ ratings with a debt-free balance sheet

Force Motors Ltd-$

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