Monika Alcobev Limited Receives Credit Rating Upgrade on ₹42 Crore Bank Facilities

Monika Alcobev Limited has received a credit rating upgrade from Acuite Ratings & Research Limited for its bank facilities worth ₹42.00 crores. The company informed BSE Limited about this development on January 21, 2026, pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Rating Upgrade Details

Acuite Ratings upgraded both the long-term and short-term credit ratings for the company's bank facilities. The comprehensive rating action covers the entire quantum of the company's banking arrangements.

Facility Type	Amount (₹ Cr)	Rating Category	New Rating	Previous Rating
Bank Loan Ratings	32.00	Long Term	ACUITE BBB Stable	ACUITE BBB-
Bank Loan Ratings	10.00	Short Term	ACUITE A3+	ACUITE A3
Total	42.00	-	-	-

Facility-wise Breakdown

The upgraded ratings apply to specific banking facilities availed by Monika Alcobev Limited from leading financial institutions. The facilities are structured across different banks to optimize the company's working capital requirements.

Lender	Facility Type	Scale	Amount (₹ Cr)	Rating Assigned
ICICI Bank Limited	Packing Credit	Short-term	10.00	ACUITE A3+
ICICI Bank Limited	Cash Credit	Long-term	25.00	ACUITE BBB Stable
Kotak Mahindra Bank Limited	Cash Credit	Long-term	7.00	ACUITE BBB Stable
Total Facilities	-	-	42.00	-

Rating Letter Validity

The rating letter issued by Acuite Ratings on January 20, 2026, remains valid until March 23, 2026. The rating agency has indicated that it reserves the right to revise the ratings based on new information or circumstances that may impact the company's creditworthiness. The annual fee for the rating remains valid until March 23, 2026.

Regulatory Compliance

The company has fulfilled its disclosure obligations under SEBI regulations by promptly informing the stock exchange about the rating upgrade. The intimation has been made available on the company's website at www.monikaalcobev.com . As per regulatory requirements, the company will need to furnish No Default Statements on the first working day of every month while the rating remains outstanding.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.88%	-6.89%	-9.75%	-8.44%	-8.44%	-8.44%

Board Appointments

The company has appointed two new Non-Executive Independent Directors:

Mr. Samir Kumar Das (DIN: 09645179)
Mr. Ghanshyam V Vyas (DIN: 11386659)

Both appointments are effective from November 24, 2025, for a term of five consecutive years, subject to shareholder approval.

Director Profiles

Mr. Samir Kumar Das

57 years old
26+ years of leadership experience in financial services
Expertise in governance, corporate and SME risk and credit, stressed asset management
Insolvency Professional and Certified Associate of the Indian Institute of Banking & Finance (CAIIB)

Mr. Ghanshyam V Vyas

67 years old
Chartered Accountant with over 40 years of post-qualification experience
Extensive experience in statutory and internal audits for various entity types
International audit experience in Mauritius and Nigeria

Committee Reconstitution

In light of these appointments, Monika Alcobev has reconstituted its key committees:

Committee	New Structure
Audit Committee	- Ms. Jagruti Sheth (Chairperson) - Mr. Ghanshyam V Vyas (Member) - Mr. Samir Kumar Das (Member)
Nomination & Remuneration Committee	- Mr. Ghanshyam V Vyas (Chairman) - Ms. Jagruti Sheth (Member) - Mr. Samir Kumar Das (Member) - Mr. Prasannakumar Gawde (Member) - Mr. Bhimji Patel (Member)
Stakeholders Relationship Committee	- Mr. Samir Kumar Das (Chairman) - Ms. Jagruti Sheth (Member) - Mr. Ghanshyam V Vyas (Member) - Mr. Bhimji Patel (Member)
Corporate Social Responsibility Committee	- Mr. Bhimji Patel (Chairman) - Mr. Kunal Patel (Member) - Mr. Samir Kumar Das (Member) - Ms. Jagruti Sheth (Member)

These changes reflect Monika Alcobev's dedication to maintaining a balanced and experienced board, capable of providing strategic guidance and ensuring compliance with regulatory requirements.

The restructuring of committees, particularly the inclusion of the new independent directors in key roles, is expected to bring fresh perspectives and strengthen the company's decision-making processes.