NSECredit Rating11 Sept 2026 · 11 Sept 2026, 03:47 pm
Credit Rating
Vinyl Chemicals (India) Limited · VINYLINDIA
✦ AI SummaryRating Change
Vinyl Chemicals (India) Limited has informed the Exchange about Credit Rating. India Ratings & Research (Ind-Ra) has affirmed its ratings on the Company’s bank loan facilities as under: Instrument Regulator of Size of Issue Rating Rating Type Instrument (INR Million) Assigned with Action Outlook/Watch Bank loan RBI 780 IND Affirmed faciliites A+/Stable/IND A1+
Analysis Scores
Earnings Impact5/10
Growth Catalyst2/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk1/10
Liquidity Impact8/10
Market Sentiment6/10
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Vinyl Chemicals (India) Limited has informed the Exchange about Credit Rating
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11th September, 2026
The Secretary The Secretary
BSE Ltd. National Stock Exchange of India Ltd.
Corporate Relationship Dept., Exchange Plaza, Plot no. C/1, G Block,
14th floor, P.J. Tower, Bandra-Kurla Complex,
Dalal Street, Fort Bandra (E),
Mumbai- 400 001 Mumbai- 400 051
Stock Code-524129 Stock Code- VINYLINDIA
Dear Sir,
Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015- Affirmation of Credit Rating
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (LODR Regulations), we wish to inform you that India Ratings & Research (Ind-
Ra), a Credit Rating Agency has vide its letter to the Company dated 11th September, 2026, affirmed
its ratings on the Company’s bank loan facilities as under:
Instrument Regulator of Size of Issue Rating Rating
Type Instrument (INR Million) Assigned with Action
Outlook/Watch
Bank loan RBI 780 IND Affirmed
facilities A+/Stable/IND
The Credit Rating letter received by the Company as mentioned above is enclosed herewith for kind
reference. The same is also available on website of the Company i.e. www.vinylchemicals.com in
terms of Reg. 46(2) (r) of LODR Regulations.
Kindly take the same on your records.
Thanking You,
Yours faithfully,
For VINYL CHEMICALS (INDIA) LTD.
AARTI FALORH
COMPANY SECRETARY
FCS:8726
Encl: As above
Mr. Sayantan Mallick
Chief Financial Officer
Vinyl Chemicals (India) Limited
Ramkrishna Mandir Road, Off Sir Mathuradas Vasanji Road,
Andheri (East), Mumbai – 400 059
Maharashtra. India
September 11, 2026
Dear Sir/Madam,
Re: Rating Letter for BLR of Vinyl Chemicals (India) Limited
India Ratings and Research (Ind-Ra) has affirmed Vinyl Chemicals (India) Limited’s (VCIL) bank loan facilities as follows:
Instrument Type Regulator of Date of Issuance Coupon Maturity Size of Rating Rating
Instrument Rate Date Issue (INR Assigned with Action
million) Outlook/Watch
Bank loan facilities RBI - - - 780 IND Affirmed
A+/Stable/IND
In issuing and maintaining its ratings, India Ratings relies on factual information it receives from issuers and underwriters and from other
sources India Ratings believes to be credible. India Ratings conducts a reasonable investigation of the factual information relied upon by it in
accordance with its ratings methodology, and obtains reasonable verification of that information from independent sources, to the extent such
sources are available for a given security.
The manner of India Ratings factual investigation and the scope of the third-party verification it obtains will vary depending on the nature of
the rated security and its issuer, the requirements and practices in India where the rated security is offered and sold, the availability and
nature of relevant public information, access to the management of the issuer and its advisers, the availability of pre-existing third-party
verifications such as audit reports, agreed-upon procedures letters, appraisals, actuarial reports, engineering reports, legal opinions and other
reports provided by third parties, the availability of independent and competent third-party verification sources with respect to the particular
security or in the particular jurisdiction of the issuer, and a variety of other factors.
Users of India Ratings ratings should understand that neither an enhanced factual investigation nor any third-party verification can ensure that
all of the information India Ratings relies on in connection with a rating will be accurate and complete. Ultimately, the issuer and its advisers
are responsible for the accuracy of the information they provide to India Ratings and to the market in offering documents and other reports.
In issuing its ratings India Ratings must rely on the work of experts, including independent auditors with respect to financial statements and
attorneys with respect to legal and tax matters. Further, ratings are inherently forward-looking and embody assumptions and predictions about
future events that by their nature cannot be verified as facts. As a result, despite any verification of current facts, ratings can be affected
by future events or conditions that were not anticipated at the time a rating was issued or affirmed.
India Ratings seeks to continuously improve its ratings criteria and methodologies, and periodically updates the descriptions on its website of
its criteria and methodologies for securities of a given type. The criteria and methodology used to determine a rating action are those in
effect at the time the rating action is taken, which for public ratings is the date of the related rating action commentary. Each rating action
commentary provides information about the criteria and methodology used to arrive at the stated rating, which may differ from the general
criteria and methodology for the applicable security type posted on the website at a given time. For this reason, you should always consult
the applicable rating action commentary for the most accurate information on the basis of any given public rating.
Ratings are based on established criteria and methodologies that India Ratings is continuously evaluating and updating. Therefore, ratings are
the collective work product of India Ratings and no individual, or group of individuals, is solely responsible for a rating. All India Ratings
reports have shared authorship. Individuals identified in an India Ratings report were involved in, but are not solely responsible for, the
opinions stated therein. The individuals are named for contact purposes only.
Ratings are not a recommendation or suggestion, directly or indirectly, to you or any other person, to buy, sell, make or hold any investment,
loan or security or to undertake any investment strategy with respect to any investment, loan or security or any issuer. Ratings do not
comment on the adequacy of market price, the suitability of any investment, loan or security for a particular investor (including without
limitation, any accounting and/or regulatory treatment), or the tax-exempt nature or taxability of payments made in respect of any investment,
loan or security. India Ratings is not your advisor, nor is India Ratings providing to you or any other party any financial advice, or any legal,
auditing, accounting, appraisal, valuation or actuarial services. A rating should not be viewed as a replacement for such advice or services.
Investors may find India Ratings ratings to be important information, and India Ratings notes that you are responsible for communicating the
contents of this letter, and any changes with respect to the rating, to investors.
It will be important that you promptly provide us with all information that may be material to the ratings so that our ratings continue to be
appropriate. Ratings may be raised, lowered, withdrawn, or placed on Rating Watch due to changes in, additions to, accuracy of or the
inadequacy of information or for any other reason India Ratings deems sufficient.
Nothing in this letter is intended to or should be construed as creating a fiduciary relationship between India Ratings and you or between
India Ratings and any user of the ratings.
In this letter, “India Ratings” means India Ratings & Research Pvt. Ltd. and any successor in interest.
We are pleased to have had the opportunity to be of service to you. If we can be of further assistance, please email us at
infogrp@indiaratings.co.in
Sincerely,
India Ratings
Khushbu Lakhotia
Director
VinylChemicalsIndiaLimited 11-September-2026
Annexure: Facilities Breakup
Regulator of Outstanding/Rated Amount(INR
Instrument Description Instrument Bank Name Ratings million)
Fund Based Working Capital Limit RBI Union Bank of India IND 36.00
A+/Stable
Non-Fund Based Working Capital RBI ICICI Bank IND A1+ 250.00
Limit
Fund Based Working Capital Limit RBI Indian Overseas IND 54.00
Bank A+/Stable
Non-Fund Based Working Capital RBI Indian Overseas IND A1+ 170.00
Limit Bank
Non-Fund Based Working Cap
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