India Ratings Upgrades Vadilal Enterprises Ltd's Bank Loan Facilities to INDA+
India Ratings and Research (Ind-Ra) has upgraded Vadilal Enterprises Limited's (VEL) bank loan facilities, assigning them a rating of INDA+/Stable/INDA1+. The rating action reflects the company's financial standing across various instrument types.The upgrade specifically pertains to Bank Loan Facilities, which were previously rated INDA-/Stable/INDA2+, and now stand at INDA+/Stable/INDA1+ according to Ind-Ra.
As part of the updated credit ratings, India Ratings provided ratings for several key financial instruments held by Vadilal Enterprises Limited. The rating details are summarized below:
| Instrument Type | Rating Assigned | Rating Action | Size of Issue (INR million) | Historical Rating/Outlook |
|---|---|---|---|---|
| Bank loan facilities | INDA+/Stable/INDA1+ | Upgraded | 710 | INDA-/Stable/INDA2+ |
| Fund-based working capital limit | IND A+/Stable/IND A1+ | Upgraded | 62 (Aggregate) | N/A |
| Term Loan | IND A+/Stable | Upgraded | 648 (Aggregate) | N/A |
| Proposed Fund/Non fund based workingcapital limits | INDA+/Stable/INDA1+ | 37 | N/A |
In addition to the bank loan facilities, Ind-Ra also provided ratings for the company's various term loans and working capital instruments across different financial institutions. The rated obligations include:
| Instrument Type | Associated Bank(s) | Rating Assigned | Rated Amount (INR million) |
|---|---|---|---|
| Fund-based workingcapital limits | CSB Bank Limited, IndusInd Bank Limited | INDA+/Stable/INDA1+ | 35 (Combined) |
| Term Loan | IndusInd Bank Limited | INDA+/Stable | 223.00 |
| Term Loan | CSB Bank Limited | INDA+/Stable | 475.00 |
| Proposed Fund/Non fund based workingcapital limits | NA | INDA+/Stable/INDA1+ | 37.00 |
The ratings assessment covers the comprehensive range of Vadilal Enterprises Limited's facilities, reflecting positive movement in their credit profile as assessed by India Ratings and Research.
Stock Price Movement
At the close of trade today, shares of Vadilal Enterprises Ltd settled at ₹9800.00, closing absolutely flat with zero change. The equity was completely locked throughout the session, maintaining its opening price from start to finish.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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