Author: Aadarsh Patel | EQMint
Vishal Fabrics Limited, part of the Chiripal Group, has received a fresh credit rating update from India Ratings and Research covering its new and existing bank facilities worth a combined ₹328.42 crore.
The rating agency has assigned a rating to a new ₹50 crore term loan while reaffirming ratings across the company’s existing term loans and working capital facilities.
India Ratings Assigns, Affirms Ratings
In a stock exchange filing dated September 12, 2026, Vishal Fabrics said India Ratings and Research had communicated its ratings through a letter dated September 11.
The ratings cover four categories of banking facilities:
- ₹50 crore term loan: IND A-/Stable/IND A2+ — newly assigned
- ₹38.42 crore term loans: IND A-/Stable/IND A2+ — affirmed
- ₹200 crore fund-based working capital limits: IND A-/Stable/IND A2+ — affirmed
- ₹40 crore non-fund-based working capital limits: IND A-/Stable/IND A2+ — affirmed
The facilities covered by the rating action total ₹328.42 crore.
What The Credit Rating Indicates
The IND A- long-term rating indicates an adequate level of safety regarding timely servicing of financial obligations. The Stable outlook suggests that the rating is not expected to undergo a significant change in the near term.
For short-term obligations, the IND A2+ rating indicates a strong degree of safety regarding timely repayment.
The combination of an assigned rating for the new term loan and affirmed ratings on existing facilities reflects the rating agency’s continued assessment of the company’s credit profile.
Vishal Fabrics’ Business
Vishal Fabrics is an Ahmedabad-based textile company operating under the Chiripal Group.
The company is engaged in the textile business, while the latest rating action covers its term loans and working capital arrangements with banks.
The regulatory filing was signed by Brijmohan Devkinandan Chiripal, Managing Director of Vishal Fabrics.
₹328 Crore In Rated Facilities
The latest rating action covers both long-term and short-term banking facilities. The largest component is the company’s ₹200 crore fund-based working capital limit, followed by the ₹50 crore newly rated term loan.
The ₹38.42 crore existing term loans and ₹40 crore non-fund-based working capital limits have also retained their IND A-/Stable/IND A2+ ratings.
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