­Vibrant Fashions Private Limited (Vibrant Fashions) was incorporated in 2011 by Mr. Nirmal Desai and Mr. Himanshu Chowksi. The company is engaged in manufacturing of readymade garments only for women. The company outsources the manufacturing activity to manufacturers located in Surat. The company exports to countries including Hong Kong, Dubai, Trininad and Singapore as well to the domestic market.

Vibrant Group is promoted by Mr. Anil Gupta, Mr. Hitesh Desai, Mr. Nirmal Desai and Mr. Himanshu Choksi. The group is engaged in trading and manufacturing of textile products including fabrics, scarfs, duppatta, kurti, salwar, dress material, suiting and readymade garments. The group mainly outsources the manufacturing activity to units located in Surat. Vibrant group comprises of five companies Vibrant Fab Private Limited (VFPL), Vibrant Fashion Private Limited (Vibrant Fashion), Allure Tex Trend Private Limited (ATTPL), Jashank Impex Private Limited (JIPL) and Swayam Exim Private Limited (SEPL). Around 75 percent of its total revenue is derived from exports to countries including Dubai, UAE, Kuwait, Jeddah, Trininad, Panama, Hong Kong, Singapore and Malaysia while remaining 25 percent is derived from the domestic market.

­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 the 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.

­The rating is based on information available from sources other than the issuer/borrower (in the absence of information provided by the issuer/borrower). Acuité endeavored to gather information about the entity/industry from the public domain. Therefore, Acuité cautions lenders and investors regarding the use of such information, on which the indicative credit rating is based.

­The rated entity has not shared the latest financial statements despite repeated requests.

­"No information provided by the issuer / available for Acuite to comment upon."

­"No information provided by the issuer / available for Acuite to comment upon."

­Not Applicable

­­Not Applicable

­In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’ s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on www.acuite.in.