Enviro Infra Engineers' CRISIL rating reaffirmed at A/Stable and A1

Enviro Infra Engineers (NSE: EIEL) had its bank loan facilities of ₹1250 crore reaffirmed by CRISIL Ratings at Crisil A/Stable for the long term and Crisil A1 for the short term, it said in a filing on 03 Nov 2026. The company's market value was ₹2,938 crore at the 02 Nov 2026 close.

Key highlights

• Total bank loan facilities rated: ₹1250 crore
• Long-term rating: Crisil A/Stable (reaffirmed)
• Short-term rating: Crisil A1 (reaffirmed)
• Rating outlook: Stable
• Rating rationale dated 26 Oct 2026

The rating action in numbers

The reaffirmation keeps both ratings unchanged

CRISIL Ratings reaffirmed the long-term rating at Crisil A/Stable and the short-term rating at Crisil A1 on bank facilities of ₹1250 crore. The company says it received the rating on 03 Nov 2026 and filed it under the listing rules.

The rationale cites a Stable outlook and says CRISIL expects Enviro Infra Engineers to continue to benefit from the extensive experience of the promoters and its healthy order book. The facilities comprise cash credit of ₹118 crore and letter of credit and bank guarantee of ₹1025 crore, with proposed limits of ₹2 crore fund-based and ₹105 crore non-fund based.

CRISIL's growth and working capital expectations

CRISIL expects group revenue to exceed ₹1800 crore in fiscal 2027, against ₹1126.44 crore of operating income in fiscal 2026. Operating income in the first quarter of fiscal 2027 was ₹359.20 crore, against ₹241 crore a year earlier.

The rationale says gross current assets, net of cash, rose to around 323 days as on 31 Mar 2026 from 282 days a year earlier, and creditor days rose to around 180 days from 110 days. CRISIL lists a downward factor of operating margin below 14%, and an upward factor of operating margins above 18% on a sustainable basis.

What the rating reaffirmation means for Enviro Infra Engineers' shareholders

The filing reports an unchanged rating and a Stable outlook; it does not show a change to the company's borrowing terms. CRISIL expects net worth to rise to about ₹1400-1500 crore in fiscal 2027 from about ₹1220 crore as on 31 Mar 2026.

The filing does not state the company's response to the rating, or what effect the rating has on its borrowing costs. No further dated step is given in the filing.