ICRA Reaffirms Credit Ratings for Acknit Industries Ltd's Banking Facilities
Acknit Industries Ltd has received reaffirmed credit ratings from ICRA Limited for various banking facilities and instruments. The ratings cover both long-term and short-term working capital and term loan facilities, reaffirming the company's standing across different credit segments.In a comprehensive review of the company's instruments, ICRA's Rating Committee affirmed the long-term rating in respect of the company's banking facilities as [ICRA]BBB (Stable), and also reaffirmed the short-term rating at [ICRA]A3+.
Summary of Rated Instruments
The total amount covered under the rating actions stands at Rs. 93.22 crore, encompassing various fund-based and non-fund-based facilities. The rating actions reaffirmed or assigned the following ratings across different instruments:| Instrument | Rated amount (Rs. crore) | Rating action |
|---|---|---|
| Long-term Fund-based - Working Capital Facilities | 70 | [ICRA]BBB (Stable), reaffirmed |
| Long-term Fund-based - Term Loan | 15.18 | [ICRA]BBB (Stable), reaffirmed/ assigned for enhanced amount |
| Short-term - Non-Fund based - Working Capital Facilities | 6.02 | [ICRA]A3+, reaffirmed |
| Long-term/ Short-term - Non-Fund based - Working Capital Facilities | 2 | [ICRA]BBB (Stable)/ [ICRA]A3+, reaffirmed |
| Long-term/ Short-term - Unallocated Limits | 0.02 | [ICRA]BBB (Stable)/ [ICRA]A3+, reaffirmed |
| Total | 93.22 |
Detailed Rating Breakdown
ICRA further detailed the ratings across various types of bank limits, categorizing them into long-term, short-term, and mixed instruments.Fund Based Bank Limits (Long-Term Scale)
The total rated amount for fund-based bank limits on the long-term scale is Rs. 85.18 crore, with ratings assigned on April 10, 2026.
| Fund Based Bank Limits | Amount (Rs. Crore) | Rating |
|---|---|---|
| State Bank of India - Cash Credit/ WCL/ EPC/ PCFC/ FBD/ EBR | 70 | [ICRA]BBB (Stable) |
| State Bank of India - Term Loan | 1.18 | [ICRA]BBB (Stable) |
| State Bank of India - Term Loan/WCTL | 14 | [ICRA]BBB (Stable) |
| Total | 85.18 |
Non-Fund Based Bank Limits (Short-Term Scale)
For non-fund based limits, the total rated amount is Rs. 6.02 crore, which includes facilities rated on the short-term scale.
| Non-Fund Based Bank Limits | Amount (Rs. Crore) | Rating |
|---|---|---|
| State Bank of India - Letter of Credit | 4.5 | [ICRA]A3+ |
| State Bank of India - Forward Contract Limit | 1.52 | [ICRA]A3+ |
| Total | 6.02 |
Mixed Non-Fund Based Limits
The mixed category includes facilities rated on both long-term and short-term scales, totaling Rs. 2.02 crore.
| Non-Fund Based Bank Limits | Amount (Rs. Crore) | Rating |
|---|---|---|
| State Bank of India - Bank Guarantee | 2.00 | [ICRA]BBB (Stable)/ [ICRA]A3+ |
| Unallocated Limits | 0.02 | [ICRA]BBB (Stable)/ [ICRA]A3+ |
| Total | 2.02 |
Stock Price Movement
Acknit Industries Ltd shares settled at ₹300.00, ticking up 3.31% as of the close of trading on Wednesday. The stock traded today over a wide range, hitting a low of ₹271.65 and peaking at ₹308.00.Source:
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