VMS TMT Limited has announced that it has received reaffirmed credit ratings from Infomerics Valuation and Rating Ltd for its bank facilities totaling Rs. 273.93 crore. The company informed stock exchanges through an official press release titled "VMS TMT Holds Firm: Credit Ratings Reaffirmed with Stable Outlook" in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Credit Rating Details

The rating committee of Infomerics reviewed the company's operational and financial performance for FY2025 (Audited) and 9MFY2026 (unaudited) before reaffirming the existing ratings. The facilities have been categorized into long-term and short-term bank facilities with specific ratings for each category.

Company's Official Statement

In its press release, VMS TMT Limited highlighted that the reaffirmation underscores the company's strong credit fundamentals, prudent financial management, and stable business outlook. The "Stable" outlook indicates sustained confidence in the company's ability to maintain its operational and financial performance in the near to medium term.

The rating action takes into account the company's consistent operating performance, stable revenue visibility, and its established presence in the steel industry. It also reflects VMS TMT's ability to effectively manage its working capital requirements and maintain healthy relationships with its banking partners.

Facility Composition and Banking Partners

The long-term bank facilities of Rs. 154.83 crore include various term loans and cash credit facilities from HDFC Bank and Axis Bank. The facilities comprise term loans with maturities ranging from February 2027 to January 2034, along with cash credit facilities and a proposed fund-based facility of Rs. 15.85 crore.

The short-term bank facilities totaling Rs. 119.10 crore consist of bank guarantees and letters of credit from HDFC Bank and Axis Bank. These include buyers credit facilities as sublimits within the letter of credit arrangements.

Rating Validity and Business Impact

The credit ratings are valid for one year from the rating committee date until March 25, 2027. The company expects the reaffirmed ratings to enhance stakeholder confidence, improve access to capital, and support future expansion and growth plans.

Under Infomerics' rating scale, the IVR BBB rating indicates that securities are considered to have a moderate degree of safety regarding timely servicing of financial obligations and carry moderate credit risk. The IVR A3+ short-term rating signifies moderate degree of safety for timely payment of financial obligations, with the plus modifier reflecting comparative standing within the category.

VMS TMT Limited has announced the resignation of its Company Secretary and Compliance Officer, marking a key management change at the Gujarat-based company. The resignation comes as part of personal circumstances faced by the departing executive.

Key Management Change

Mr. Vijay Amrabhai Boliya has tendered his resignation from the position of Whole Time Company Secretary and Compliance Officer, effective from March 31, 2026. In his capacity as Key Managerial Personnel, Boliya cited personal and unavoidable circumstances as the reason for his departure.

The following table summarizes the key details of the resignation:

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made to both BSE Limited and National Stock Exchange of India Limited on March 27, 2026.

Mr. Boliya confirmed in his resignation letter that there are no other material reasons for his resignation beyond those specified. The departing officer expressed gratitude to the board members for their cooperation during his tenure.

Management Response

Director Manojkumar Jain has officially accepted the resignation and taken it on record. The company stated that necessary formalities regarding the resignation will be completed in due course of time, including filing the required e-forms with the Registrar of Companies.

The resignation represents a change in the company's key managerial personnel structure, with VMS TMT Limited now required to identify and appoint a suitable replacement to fulfill the statutory requirements for the Company Secretary and Compliance Officer position.