ITI Limited has received credit rating assignment from Infomerics Valuation and Ratings Ltd for its banking facilities worth Rs 4221.39 crore. The company informed stock exchanges about this development through a regulatory filing dated February 5, 2026, under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Credit Rating Details

Infomerics Valuation and Ratings Ltd assigned the following credit ratings to ITI Limited's banking facilities:

The rating assignment was communicated through Infomerics' letter dated February 4, 2026, addressed to Rajeev Srivastava, Director Finance/CFO of ITI Limited. The rating committee's decision was based on a mandate contract dated September 4, 2025.

Consolidation Approach

For arriving at the ratings, Infomerics considered the consolidated financial profiles of ITI Limited and India Satcom Limited (ISL). The consolidation approach included:

Intercompany transactions were eliminated during the consolidation process to ensure accurate financial assessment.

Banking Facilities Breakdown

The rated facilities comprise both fund-based and non-fund based working capital limits across multiple banks:

Long-term Fund-based Working Capital Limits:

• State Bank of India: Rs 583.82 crore (CC)
• Bank of Baroda: Rs 440.16 crore (CC)
• Indian Bank: Rs 97.11 crore (CC)
• Proposed facilities: Rs 119.72 crore (CC)
• Other banks including Union Bank of India, Canara Bank, Central Bank of India, and Punjab National Bank

Short-term Non-Fund based Working Capital Limits:

• State Bank of India: Rs 890.00 crore (BG) and Rs 444.00 crore (Letter of Credit)
• Bank of Baroda: Rs 593.94 crore (BG) and Rs 313.00 crore (Guarantee)
• Proposed BG+LC: Rs 360.85 crore
• Various other banking arrangements across multiple lenders

Rating Validity and Monitoring

The assigned rating is valid for one year from the committee date until February 1, 2027. Infomerics will conduct formal surveillance and review of the rating within 12 months from the initial rating date. The company has undertaken to comply with various monitoring requirements, including providing monthly No Default Statements and quarterly performance results within six weeks from each calendar quarter close.

Rating Scale Context

According to Infomerics rating scale, IVR BBB- rating indicates that securities are considered to offer moderate degree of safety regarding timely servicing of financial obligations, carrying moderate credit risk. The IVR A3 short-term rating signifies moderate degree of safety for timely payment of financial obligations, though with higher credit risk compared to higher-rated categories.

ITI Limited , the government-owned telecommunications equipment manufacturer, has received Rs.16 crores as Earnest Money Deposit (EMD) from the Central Goods and Services Tax Department (CGST) for land procurement valuation. The company informed stock exchanges about this development through a regulatory filing under Regulation 30 of SEBI's listing obligations.

Transaction Details

The EMD payment was received on January 28, 2026, representing 2% of the indicative land value as per DPE/NLMC norms. The transaction involves valuation of a substantial land parcel for potential procurement by the CGST Department.

Land Parcel Specifications

The land under consideration is located at K.R. Puram, Bengaluru, covering an area of 21 acres. The CGST Department is seeking valuation from the National Land Monetization Corporation (NLMC) for this property during the current financial year.

Valuation and Settlement Process

ITI Limited clarified that the final valuation of the land will be determined by NLMC, indicating that the current Rs.800 crores figure serves as an indicative value for EMD calculation purposes. Upon completion of the transaction between the CGST Department and the company, the EMD amount already paid will be adjusted against the final transaction value.

This development represents a significant potential land monetization opportunity for ITI Limited, with the EMD receipt confirming the CGST Department's serious intent to proceed with the land procurement process through proper valuation channels.