Chartered Speed Upgraded to ‘IND A-’ by Ind-Ra, Eyes EV Expansion

Chartered Speed Limited’s long-term rating was upgraded to ‘IND A-’ by India Ratings and Research, reflecting strong revenue growth and plans to convert 25% of its fleet to electric vehicles by FY27.

Chartered Speed Limited, one of India’s leading passenger mobility companies, has received a long-term rating upgrade from India Ratings and Research (Ind-Ra).

The company’s long-term bank loan rating has been upgraded to ‘IND A-’ from ‘IND BBB+’ with a Stable Outlook, while its short-term rating has been revised to ‘IND A1’ from ‘IND A2+’.

The rating upgrade reflects Chartered Speed’s strong operational performance and strategic growth plans.

In Fiscal 2025, the company reported a 91.99% increase in Revenue from Operations, rising to ₹6,667.74 million from ₹3,473.02 million in the previous fiscal year.

Looking ahead, Chartered Speed aims to strengthen its sustainability initiatives by converting approximately 25% of its fleet to electric vehicles (EVs) by FY27.

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The company also plans to enter the e-bus segment by establishing special-purpose vehicles (SPVs), signaling its commitment to clean, modern urban transportation.

Founded in 2010, Chartered Speed has over 15 years of experience in passenger mobility. According to a Frost and Sullivan Report, the company serves more than 3.5 lakh passengers daily.

Its fleet of over 2,000 buses spans city and intercity routes, government contracts, long-distance travel, as well as staff and school transport services for private organizations.

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With a focus on safe, reliable, and sustainable transportation, Chartered Speed has steadily expanded its operations to cater to diverse mobility needs across India.

The Ind-Ra upgrade underlines the company’s strong financial health and ambitious growth trajectory, particularly in the rapidly evolving electric mobility sector.