New Delhi: Chartered Speed Limited, one of India’s leading passenger mobility companies, has secured a significant upgrade from India Ratings and Research. The agency has revised the company’s long-term bank loan rating to IND A- from IND BBB+ while maintaining a Stable Outlook. The short-term rating has also moved up to IND A1 from IND A2+, signalling stronger creditworthiness and improved financial stability.
The upgrade comes on the back of a sharp rise in operational performance. In Fiscal 2025, the company’s revenue from operations grew by Rs 3,194.72 million, an increase of nearly 92 percent, reaching Rs 6,667.74 million compared to Rs 3,473.02 million in the previous fiscal. This strong momentum, driven by expanding services and operational efficiencies, has helped reinforce investor confidence.
Chartered Speed is also preparing for a major shift toward cleaner mobility. The company has set an ambitious target to convert around a quarter of its fleet to electric vehicles by Fiscal 2027. As part of this transition, it plans to enter the e-bus segment through dedicated special purpose vehicles, positioning itself for long-term growth in sustainable public transport.
The improved ratings reflect both the company’s strong performance and its forward-looking strategy as it moves deeper into India’s evolving electric mobility ecosystem.