Acknit Industries Credit Rating Reaffirmed at [ICRA]BBB (Stable)
RATING
● No Immediate Change
MEDIUM RISK
📅 Filed on BSE: 15 Apr 2026, 06:31 PM IST · BSE ID: ae1d2e62-a069-4360-83be-2561a1e393ae
View Original BSE Filing (PDF)
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In Simple Terms
ICRA confirmed Acknit Industries can reliably repay its Rs. 93.22 crore bank loans and credit lines on time.
🤖 AI Summary
- ICRA reaffirmed long-term rating [ICRA]BBB (Stable) with stable outlook for Acknit Industries
- Short-term rating [ICRA]A3+ reaffirmed across total rated facilities of Rs. 93.22 crore
- Fund-based limits of Rs. 85.18 crore comprise working capital and term loan facilities
- Non-fund-based limits of Rs. 8.04 crore cover letters of credit, bank guarantees, forward contracts
- All facilities provided by State Bank of India; ratings valid for one-year surveillance period
🔢 Key Numbers — exact figures from BSE filing, not rounded
Total rated banking facilities
Rs. 93.22 crore
Long-term fund-based facilities (working capital + term loan)
Rs. 85.18 crore
Short-term non-fund-based facilities (LC + forward contracts)
Rs. 6.02 crore
Bank guarantee + unallocated limits
Rs. 2.02 crore
Long-term rating (reaffirmed)
[ICRA]BBB (Stable)
Short-term rating (reaffirmed)
[ICRA]A3+
🏢 How This Affects the Company
Reaffirmed investment-grade rating confirms lender confidence in debt service capacity. Stable outlook indicates no pressure on refinancing or cost of borrowing. Rating covers Rs. 85.18 crore fund-based limits and Rs. 8.04 crore non-fund-based limits.
Reaffirmation with stable outlook reduces refinancing risk and sustains access to working capital facilities. Rating is subject to annual surveillance and ICRA reserves right to revise based on new information or non-compliance with obligations.
👥 What This Means For Shareholders
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Action Required
No action required. Credit rating is lender-focused disclosure; does not affect shareholder voting or dividend entitlements.
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Who Is Affected
All equity shareholders benefit from confirmation of financial stability and continued banking relationships. Rating reaffirmation reduces refinancing risk and supports operational continuity.
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Management Signal
Reaffirmation indicates management has maintained adequate debt service coverage and compliance with banking covenants, supporting operational stability.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Annual surveillance rating review by ICRA due April 2027 — monitor for any downgrade or outlook change.
Q4 FY26 and FY27 financial results — track debt-to-equity and interest coverage to confirm rating sustainability.
SBI banking facility reviews — observe for covenant compliance issues or limit reductions signaling stress.
MEDIUM RISK
Investment-grade rating confirmed but dependent on annual surveillance. Rating revision risk exists if financial performance deteriorates or debt covenants breached.
💡 Investor Takeaway
ICRA reaffirmed [ICRA]BBB (Stable) rating with stable outlook on Rs. 93.22 crore of Acknit Industries' banking facilities on April 10, 2026. Reaffirmation confirms lender confidence in debt service capacity and uninterrupted access to working capital. Rating subject to annual surveillance.
⚖️ Strengths & Concerns
✅ Positives
- Investment-grade [ICRA]BBB (Stable) rating maintained across all facility types with stable outlook sustained.
- Diversified credit facilities from SBI spanning working capital, term loans, letters of credit, guarantees at Rs. 93.22 crore.
⚠️ Concerns
- Ratings subject to one-year surveillance with ICRA right to revise on adverse developments or missed obligations.
- Filing does not disclose prior rating history, financial metrics, or factors driving the reaffirmation decision.