RBZ Jewellers Limited has announced a significant credit rating development, with CRISIL Ratings Limited upgrading the company's outlook to Positive from Stable while reaffirming its existing ratings. The announcement was made through a regulatory filing under Regulation 30 of the SEBI Listing Regulations on March 10, 2026.

Credit Rating Enhancement Details

CRISIL has taken multiple positive actions regarding RBZ Jewellers' credit profile. The rating agency has enhanced the company's total bank loan facilities to Rs.300 crore from the previous Rs.200 crore, representing a substantial increase in the company's borrowing capacity.

Comprehensive Banking Facility Structure

The Rs.300 crore facility structure encompasses a diverse range of banking instruments across multiple financial institutions. The facilities are distributed among several leading banks, providing RBZ Jewellers with a well-diversified funding base.

Major Facility Components

The largest components of the facility structure include:

• Cash Credit Facilities: Rs.198.50 crore across six banks
• Working Capital Demand Loans: Rs.51.50 crore from two banks
• Term Loan: Rs.24.00 crore from Kotak Mahindra Bank
• Proposed Fund-Based Limits: Rs.19.61 crore
• Bank Guarantees: Rs.5.00 crore from Axis Bank
• Working Capital Term Loan: Rs.1.39 crore from IDBI Bank

Banking Partner Distribution

RBZ Jewellers maintains relationships with multiple banking partners for its facility requirements. ICICI Bank Limited provides the largest single facility at Rs.50.00 crore, followed by Axis Bank Limited with Rs.54.30 crore in cash credit facilities. Other significant banking partners include IDFC FIRST Bank Limited, IDBI Bank Limited, Bandhan Bank Limited, The Federal Bank Limited, and Kotak Mahindra Bank Limited.

Regulatory Compliance and Documentation

The credit rating update was communicated to both BSE Limited and National Stock Exchange of India Limited as required under SEBI regulations. The company's filing was signed by Heli A Garala, Company Secretary & Compliance Officer, ensuring proper regulatory compliance. CRISIL's rating letter remains valid until March 31, 2026, with the standard provision that facilities not availed within 180 days would require fresh revalidation.

The positive outlook revision indicates CRISIL's improved confidence in RBZ Jewellers' credit profile and business prospects, while the facility enhancement provides the company with increased financial flexibility for its operations and growth initiatives.

RBZ Jewellers Limited has issued a comprehensive clarification regarding the employee fraud case and insurance claim settlement, providing detailed breakdown of recoveries and ongoing judicial proceedings. The company submitted this clarification on 25th February 2026 to both BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI regulations.

Complete Fraud Assessment and Insurance Coverage

The company confirmed that the total quantified amount involved in the employee fraud was Rs 1,98,11,486, which has been fully assessed by IFFCO-Tokio General Insurance Co. Ltd. The insurance company has determined that the entire loss is covered under the company's fidelity/crime insurance policy terms.

Recovery Status and Judicial Proceedings

RBZ Jewellers has made significant progress in recovering the fraudulent amount through multiple channels. The company earlier recovered Rs 22,74,893 directly from the accused employee and received Rs 1,01,82,444 from the insurance company as partial settlement. The remaining claim amount of Rs 68,18,221, represented by gold recovery, is currently under judicial custody.

Legal Steps and Insurance Protection

The company is taking necessary legal steps before the competent court for release of the gold upon completion of the judicial process. According to the insurance policy terms with IFFCO-Tokio General Insurance Co. Ltd, if the recovered gold is not released to the company pursuant to judicial proceedings, the company would be entitled to indemnification from the insurer as per policy terms.

Regulatory Compliance and Transparency

This clarification follows the company's earlier intimations dated 4th March 2025 and 24th February 2026, demonstrating RBZ Jewellers' commitment to maintaining transparency with stakeholders. Company Secretary & Compliance Officer Heli Akash Garala signed the intimation, ensuring proper corporate governance standards in communicating material developments to the stock exchanges.