Auto ancillaries: Margin recovery continues on easing input costs and strong OEM demand — PreRatings
Infrastructure Developer — Long Term AA−
Pharma Manufacturer — Long Term AA+
Regional NBFC — NCD Rating BBB+
Steel Producer — Bank Loan A
Textile Exporter — Long Term BB+
Auto Component Mfr — Short Term A1+
Cement Producer — Long Term AA
Chemical Exporter — IPO Grading A−
Infrastructure Developer — Long Term AA−
Pharma Manufacturer — Long Term AA+
Regional NBFC — NCD Rating BBB+
Steel Producer — Bank Loan A
Textile Exporter — Long Term BB+
Auto Component Mfr — Short Term A1+
Cement Producer — Long Term AA
Chemical Exporter — IPO Grading A−
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Auto ancillaries: Margin recovery continues on easing input costs and strong OEM demand

01 Aug 2026 Rating PreRatings Research
Median operating margin improved 180bps YoY to 12.4%. EV component manufacturers showing particularly strong credit metrics. Three companies upgraded in the last quarter.
Auto & Ancillaries Sector Review