Ultracab (India) Limited Confirms Non-Large Corporate Status Under SEBI Framework
Ultracab (India) Limited has notified BSE Limited of its non-qualification as a Large Corporate under SEBI's regulatory framework for debt securities. The company reported outstanding borrowings of ₹45.94 crore as of March 31, 2026, and maintains a BBB- credit rating from India Ratings and Research. The disclosure, submitted on April 10, 2026, ensures compliance with SEBI circulars while confirming the company's exemption from Large Corporate mandatory borrowing requirements and associated penalty provisions.
*this image is generated using AI for illustrative purposes only.
Ultracab (India) Limited has formally communicated to BSE Limited that it does not qualify as a "Large Corporate" under the Securities and Exchange Board of India (SEBI) regulatory framework. The company submitted this disclosure on April 10, 2026, in compliance with specific SEBI circulars governing debt securities issuance by large corporates.
Regulatory Compliance Framework
The notification references two key SEBI circulars that establish the regulatory framework for large corporate disclosures. SEBI Circular No. SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, and SEBI Circular No. SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023, outline the requirements for fund raising through debt securities and associated disclosure obligations for companies classified as Large Corporates.
Financial Position and Credit Rating
The company provided detailed financial information as part of its disclosure requirements. Ultracab (India) Limited reported specific metrics that demonstrate its position relative to the Large Corporate classification criteria.
| Parameter: | Details |
|---|---|
| Outstanding Borrowings (March 31, 2026): | ₹45.94 crore |
| Credit Rating: | BBB- |
| Rating Agency: | India Ratings and Research |
| Large Corporate Status: | Not Applicable |
Disclosure Documentation
The formal communication was signed by Pankaj Vasantbhai Shingala, Whole-time Director (DIN: 03500393), and included Annex XII-A as required under the regulatory framework. The disclosure format mandates specific information including company identification details, borrowing amounts, credit ratings, and confirmation of Large Corporate status.
Additional signatories on the disclosure included Amit Vishwkarma, Company Secretary and Compliance Officer, and Pravin Pansuriya, Chief Financial Officer, ensuring proper corporate governance protocols were followed.
Regulatory Implications
Under the SEBI framework, entities classified as Large Corporates face specific obligations regarding mandatory borrowing through debt securities. The regulations include provisions for penalties, with a fine of 0.2% of any shortfall levied by stock exchanges at the end of two-year block periods beginning from FY 2022. Since Ultracab (India) Limited does not qualify as a Large Corporate, these mandatory borrowing requirements and associated penalty provisions do not apply to the company.
Corporate Information
Ultracab (India) Limited operates with its registered office and works located at Shapar (Veraval), Rajkot, Gujarat. The company maintains additional offices in Rajkot and Navi Mumbai, with the CIN number L31300GJ2007PLC052394. The company specializes in wires and cables manufacturing and holds various certifications including ISI, CE, TÜV SUD, ERDA, and CPRI approvals.
Historical Stock Returns for Ultracab
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.17% | +17.37% | +15.45% | -14.99% | -22.07% | -54.40% |
Will Ultracab's BBB- credit rating impact its ability to secure favorable borrowing terms compared to larger competitors in the wires and cables sector?
How might Ultracab's exemption from mandatory debt securities requirements affect its capital structure strategy and financing flexibility going forward?
Could Ultracab's current borrowing level of ₹45.94 crore indicate potential expansion plans that might push it toward Large Corporate status in future years?
16
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
