ICRA Reaffirms Ratings for Thangamayil Jewellery Ltd Fixed Deposits and Working Capital Limits
Thangamayil Jewellery Limited (TMJL) has received credit ratings from ICRA Limited concerning various financial instruments, including its Fixed Deposit Programme and working capital limits. The assignments include reaffirmations for existing limits and newly assigned ratings for expanded facilities, according to the data released by the company.The ratings cover both long-term and short-term instruments, spanning funding programs and bank limits across several key financial institutions.
| Instrument Type | Size of Issue (Rs. In Crores) | Rating Assigned along with Outlook | Rating Action |
|---|---|---|---|
| Fixed Deposit Programme | 95.00 | [ICRA]A+(Stable) | Reaffirmed |
| Working Capital Limit | 1,412.00 | [ICRA]A+(Stable)/[ICRA]A1 | Reaffirmed/Assigned for enhanced amount |
The company's working capital facilities are rated across various lending banks. The ratings encompass both fund-based and non-fund based limits, reflecting the overall scale of support provided by financial institutions.
| Fund Based / Bank Limits | Non-Fund Based | Amount (Rs. Crore) | Rating | Assigned on |
|---|---|---|---|---|
| Axis Bank - Facilities | Working Capital | 150.00 | [ICRA]A+ (Stable)/ [ICRA]A1 | June 26, 2026 |
| Federal Bank - Facilities | Working Capital | 225.00 | [ICRA]A+ (Stable)/ [ICRA]A1 | June 26, 2026 |
| HDFC Bank - Facilities | Working Capital | 372.00 | [ICRA]A+ (Stable)/ [ICRA]A1 | June 26, 2026 |
| ICICI Bank - Facilities | Working Capital | 200.00 | [ICRA]A+ (Stable)/ [ICRA]A1 | June 26, 2026 |
| Kotak Mahindra Capital Facilities | Bank - Working | 140.00 | [ICRA]A+ (Stable)/ [ICRA]A1 | June 26, 2026 |
| Yes Bank - Facilities | Working Capital | 200.00 | [ICRA]A+ (Stable)/ [ICRA]A1 | June 26, 2026 |
| Proposed/Untied Working Facilities | Capital | 125.00 | [ICRA]A+ (Stable)/ [ICRA]A1 | June 26, 2026 |
The ratings assigned to the banks' limits include specific sublimits for various credit facilities. For instance, Axis Bank’s WCDL of Rs. 150 crore includes Gold Metal Loan of Rs. 135 crore and SBLC/BG of Rs. 150 crore as a sublimit of cash credit.
Other bank limit details reported include:
- Federal Bank: Cash Credit of Rs. 60 crore and Gold Metal Loan of Rs. 225 crore is the sub-limit of WCDL.
- HDFC Bank: WCDL/Gold Metal Loan of Rs. 372 crore and SBLC of Rs. 272 crore forms the sub-limit of cash credit.
- ICICI Bank: Cash Credit of Rs. 40 crore, WCDL of Rs. 200 crore, and SBLC of Rs. 100 crore are the sub-limits of Gold Metal Loan.
- Kotak Mahindra Bank: Cash Credit of Rs. 20 crore, WCDL of Rs. 140 crore, and SBLC of Rs. 130 crore constitute the sub-limit of overall working capital loan.
- YES Bank: Cash Credit of Rs. 150 crore, Gold Metal Loan of Rs. 150 crore, and SBLC/Bank Guarantee of Rs. 100 crore are the sub-limits of WCDL.
THANGAMAYL Stock Price Movement
Thangamayil Jewellery Limited shares rallied today, gaining 4.75% to settle at ₹5860 after the market closed. The stock saw a strong buying day, trading on 571,562 shares while remaining close to its 52-week high of ₹6153.4.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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