Ravish Sharma says company poised for stronger growth
PNS
BOKARO
CRISIL Ratings has reaffirmed ESL Steel Limited’s long-term AA/Stable rating and removed it from “Rating Watch with Developing Implications,” reaffirming confidence in the company’s improving financial profile and strategic importance within the Vedanta Group.
Reacting to the development, Ravish Sharma, CEO & Whole-Time Director of ESL Steel Limited, said the rating reaffirmation is a strong endorsement of the company’s improving operational performance, financial resilience and strategic role within Vedanta Iron & Steel. He said ESL Steel will continue to focus on operational excellence, strengthening its balance sheet and delivering sustainable growth while contributing to India’s infrastructure and manufacturing expansion.
According to CRISIL, ESL Steel is expected to become the largest contributor to Vedanta Iron & Steel’s earnings in the medium term, supported by strong operational, managerial and financial backing from its parent company, including unconditional corporate guarantees.
The rating agency also noted a sharp improvement in ESL Steel’s operations during the fourth quarter of FY26, reflecting stronger business momentum. ESL Steel operates a 1.5 MTPA integrated steel plant at Siyaljori in Bokaro, producing pig iron, billets, TMT bars, wire rods and ductile iron pipes.
