* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
Rating Rationale
Acuite has reaffirmed its long-term rating to 'ACUITE D' (read as ACUITE D) on the Rs.27.26 crore bank facilities and its short-term rating to 'ACUITE D' (read as ACUITE D) on the Rs.46.75 crorebank facilities of Vimla Fuels and Metals Limited (VFML).
Acuité has downgraded its long-term rating to 'ACUITE D' (read as ACUITE D) from 'ACUITE C' (read as ACUITE C) on the Rs.20 crore bank facilities and downgraded its short-term rating to 'ACUITE D' (read as ACUITE D) from 'ACUITE A4' (read as ACUITE A four) on the Rs.25.00 crorebank facilities of Vimla Fuels and Metals Limited (VFML).
Acuité has also reaffirmed its long-term rating to 'ACUITE C' (read as ACUITE C) on the Rs.0.99 crore bank facilities of Vimla Fuels and Metals Limited (VFML).
The rating is now flagged as “Issuer Not-Cooperating” and is based on the best available information.
Rationale for Downgrade
The downgrade is based on the feedback received from one of the lender where in the account categorization is marked as NPA. Additionally, it has been noted that the company has been admitted into Corporate Insolvency Resolution Process as per National Company Law Tribunal (NCLT) order dated October 06, 2025.
About the Company
Vimla Fuels and Metals Limited (VFML), based in Kachchh (Gujarat), was incorporated in February 2016 by Mr. Sanjay Kumar Agrawal. VFMPL is engaged in the manufacturing and trading of Low Ash Metallurgical (LAM) Coke. The manufacturing plant of the company is located at Bhachau and Lunva, at an optimum distance of 40 kilometres from Kandla Port. The current directors of the company are Mr. Sachin Kumar Agrawal, Mr. Sanjay Kumar Agrawal and Mr. Yogendra Singh.
Unsupported Rating
Not Applicable
Non-cooperation by the issuer/borrower
Acuité has been requesting for data, information and undertakings from the rated entity for conducting surveillance & review of the rating. However, the issuer / borrower failed to submit such information before due date. Acuité believes that information risk is a critical component in such ratings, and non - cooperation by the issuer along with unwillingness to provide information could be a sign of potential deterioration in its overall credit quality. This rating is therefore being flagged as “Issuer not-cooperating”, in line with prevailing SEBI regulations and Acuité’s policies.
Limitation regarding information availability
Rating Sensitivities
Potential triggers (individual or collective) for an upward rating action:
No information provided by the issuer/available for Acuite to comment upon
Potential triggers (individual or collective) for a downward rating action:
Not Applicable
Liquidity Position
No information provided by the issuer / available for Acuité to comment upon
ACUITE D | Downgraded | Issuer not co-operating* ( from ACUITE C )
State Bank of India
Not avl. / Not appl.
Letter of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
46.75
Simple
ACUITE D | Reaffirmed | Issuer not co-operating*
CSB Bank Limited
Not avl. / Not appl.
Letter of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
25.00
Simple
ACUITE D | Downgraded | Issuer not co-operating* ( from ACUITE A4 )
Not Applicable
Not avl. / Not appl.
Proposed Long Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
0.99
Simple
ACUITE C | Reaffirmed | Issuer not co-operating*
State Bank of India
Not avl. / Not appl.
Working Capital Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
01 Jan 2027
2.26
Simple
ACUITE D | Reaffirmed | Issuer not co-operating*
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
