VIP Industries' credit rating downgraded by CRISIL

V.I.P. Industries Limited announced on November 27, 2025, that Crisil Ratings Limited has revised its credit ratings for the company's bank facilities. The revision is a direct result of Crisil Ratings' review of V.I.P. Industries' financial results.

For total bank loan facilities rated at INR 424 crore, the long-term rating has been downgraded from 'Crisil AA-/Negative' to 'Crisil A+/Negative'. Concurrently, the short-term rating has been downgraded from 'Crisil A1+' to 'Crisil A1'. This affects various bank facilities, including cash credit and short-term bank facilities with multiple banks like Kotak Mahindra Bank, YES Bank, The Hongkong and Shanghai Banking Corporation Limited, Qatar National Bank, The Federal Bank Limited, and Axis Bank Limited.

The company stated that this disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, highlighting a revision in their credit rating.