CARE Ratings Upgrades Credit Rating for Nitin Spinners Ltd.'s Bank Facilities
CARE Rating Limited has upgraded and reaffirmed the credit rating assigned to the bank facilities of Nitin Spinners Ltd., following a review of the company's operational and financial performance. The ratings pertain to both Long Term and Short Term Bank Facilities, as detailed by the rating agency on June 22, 2026.The upgrade relates to the Long Term Bank Facilities, which have been upgraded from CARE A; Positive to CARE A+; Stable. Concurrently, the rating for Short Term Bank Facilities has been reaffirmed at CARE A1.
Long Term Facility Details
The total amount of Long Term Bank Facilities rated stands at ₹2,371.71 crore. The facilities are structured across various lenders with repayment terms ranging from quarterly installments by September 2035 to those sanctioned for future tranches.Details regarding the long term loans are as follows:
| Lender | Rated Amount (₹ crore) | Repayment Terms |
|---|---|---|
| Punjab National Bank | 400.00 | Repayable in 32 quarterly installments by end of Sep 2035 |
| State Bank of India | 150.00 | Repayable in 32 quarterly installments by end of Sep 2035 |
| Union Bank of India | 150.00 | Repayable in 32 quarterly installments by end of Sep 2035 |
| Bank of Baroda | 144.90 | Repayable in 28 quarterly installments by end of Sep 2031 |
| State Bank of India | 144.90 | Repayable in 28 quarterly installments by end of Sep 2031 |
| Punjab National Bank | 144.90 | Repayable in 28 quarterly installments by end of Sep 2031 |
| Bank of Baroda | 115.00 | Repayable in 32 quarterly installments by end of Sep 2035 |
| Union Bank of India | 92.58 | Repayable in 28 quarterly installments by end of Sep 2031 |
| Punjab National Bank | 36.20 | Repayable in quarterly installments by end of June 2027 |
| Bank of Baroda | 29.06 | Repayable in quarterly installments by end of June 2027 |
| Union Bank of India | 23.25 | Repayable in quarterly installments by end of June 2027 |
| Punjab National Bank | 20.92 | Repayable in quarterly installments by end of June 2027 |
| Punjab National Bank | 170.00 | Repayable in 28 quarterly installments by end of Sep 2034 |
In addition to term loans, the company holds Fund Based Limits totaling ₹750.00 crore across various lenders, including Cash Credit and Working Capital Demand Loans from Punjab National Bank (₹330.00 crore), State Bank of India (₹205.00 crore), Bank of Baroda (₹140.00 crore), and Union Bank of India (₹75.00 crore).
Short Term Facility Details
The total Short Term Facilities rated amount is ₹66.70 crore, which have been reaffirmed at CARE A1. These facilities are non-fund based limits provided by several lenders.Details of the Non Fund Based Limits include:
| Lender | Rated Amount (₹ crore) |
|---|---|
| Punjab National Bank | 25.00 |
| Bank of Baroda | 20.00 |
| Union Bank of India | 5.00 |
| Bank of Baroda | 6.50 |
| Punjab National Bank | 5.50 |
| State Bank of India | 3.20 |
| Union Bank of India | 1.50 |
The total rated facilities for Nitin Spinners Ltd. amount to ₹2,438.41 crore.
NITINSPIN Stock Price Movement
Shares of Nitin Spinners Limited are shedding 1.81% in live market trading as of 12:10 PM, with the equity currently priced at ₹558.4. The stock traded within its day range, registering a low near ₹551.7 and reaching a total volume of 51,246 shares so far.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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