Shanti Gold International Limited has received its first credit rating assignment from CARE Ratings Limited, with the rating agency assigning CARE A- (Stable) ratings to the company's bank facilities worth ₹223.53 crore. The rating communication was issued on January 22, 2026, and the company disclosed this development to stock exchanges on January 23, 2026.

Credit Rating Details

CARE Ratings has assigned ratings across two categories of banking facilities for Shanti Gold International. The rating assignment reflects the agency's assessment of the company's creditworthiness and ability to service its debt obligations.

Banking Facility Breakdown

The rated facilities are distributed across multiple banking partners, providing the company with diversified funding sources. The long-term facilities primarily consist of term loans from Yes Bank Limited, while the working capital facilities are spread across three major banks.

Long Term Facilities (₹2.53 crore)

Long Term/Short Term Facilities (₹221.00 crore)

Rating Validity and Surveillance

The assigned ratings are valid for one year from January 15, 2026. CARE Ratings reserves the right to undertake surveillance and review of the ratings periodically, with at least one review required annually. The rating agency will monitor the company's financial performance and business developments that may impact the creditworthiness assessment.

The rating assignment provides Shanti Gold International with formal credit assessment credentials, which can facilitate future banking relationships and potentially improve borrowing terms. The company has made this information available on its website at www.shantigold.in as part of its transparency and disclosure commitments.

Shanti Gold International Limited's Board of Directors has approved a major capacity expansion of its jewellery manufacturing facility during a meeting held on January 22, 2026. The strategic initiative aims to strengthen the company's production capabilities to meet increasing demand from organised jewellery retailers across India.

Expansion Details and Investment

The approved capacity expansion represents a significant enhancement to the company's manufacturing capabilities. The following table outlines the key parameters of the expansion:

The expansion will be entirely funded through internal accruals, demonstrating the company's strong financial position and cash generation capabilities. The rationale behind this expansion is to cater to future increases in demand from the organised jewellery retail segment.

Strategic Market Positioning

According to Chairman & Managing Director Mr. Pankajkumar Jagawat, the capacity expansion reflects confidence in the long-term growth potential of the jewellery manufacturing segment. The initiative is strategically aligned with several market trends:

• Ongoing structural shift towards organised jewellery retail
• Growing preference for dependable and scalable manufacturing partners
• Rising demand for design-led and customised jewellery offerings

The expanded facility will strengthen the company's ability to service leading retail chains with consistent quality, timely delivery, and customised designs at scale.

Company Background and Operations

Shanti Gold International Limited was founded in 2003 by Mr. Pankaj Kumar Jagawat and Mr. Manoj Kumar Jain. The Mumbai-headquartered company has established a strong presence across both North and South India, positioning itself as one of India's trusted jewellery manufacturers.

The company operates a modern manufacturing facility in Mumbai spanning over 13,448 square feet. This facility integrates traditional craftsmanship with advanced technology to deliver elegant, precise, and contemporary designs. Guided by the ethos of "creating timeless beauty through expert craftsmanship," the company continues to partner with leading retailers across India.

Growth Strategy and Market Outlook

With an expanding client base across India and international markets, the increased capacity will enable Shanti Gold International Limited to deepen existing relationships while pursuing new strategic partnerships. The company's focus on organised retail partnerships positions it well to capitalize on the ongoing transformation in India's jewellery retail landscape.

The Board meeting commenced at 10:30 a.m. IST and concluded at 11:45 a.m. IST on January 22, 2026. The company has filed the necessary disclosures under Regulation 30 of the SEBI Listing Regulations with both BSE and NSE, where it trades under the symbols 544459 and SHANTIGOLD respectively.