Press Release

Press Release

February 19, 2026

VOLTA GREEN STRUCTURES PRIVATE LIMITED
Rating Downgraded

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	27.30	ACUITE C \| Downgraded	-
Bank Loan Ratings	33.70	-	ACUITE A4 \| Downgraded
Total Outstanding	61.00	-	-
Total Withdrawn	0.00	-	-

Rating Rationale

Acuite has downgraded its long-term rating to 'ACUITE C' (read as ACUITE C) from 'ACUITE BB' (read as ACUITE double B) and short-term rating to 'ACUITE A4' (read as ACUITE A four) from 'ACUITE A4+' (read as ACUITE A four plus) on Rs.61.00 Cr. bank facilities of Volta Green Structures Private Limited. (VGSPL)

Rationale for downgrade:
The rating is downgraded on account of recent delays in servicing of debt obligations by VGSPL in their term loan as evident from the loan statement and written feedback received from the lender. The account is currently marked SMA-0 by the bank.

About the Company

Volta Green Structures Private Limited (VGSPL) is a Hyderabad-based company, incorporated in 2015. VGSPL is promoted by Mr. MSRV Prasad and Mr. Basavaiah Rayipudi. The company is engaged in the manufacturing and erection of preengineered buildings (PEB). The company operates in three key business segments: preengineered building structures, rapid building systems, and high-rise structures. It has one manufacturing facility located in Hyderabad, Telangana, with an installed PEB manufacturing capacity of 12,000 Metric tons per annum.

Unsupported Rating

Not Applicable

Analytical Approach

Acuité has taken the standalone view of business and financial risk profile of VGSPL to arrive at the rating.

Key Rating Drivers

Strengths

Promoter's extensive experience in the steel fabrication industry
The promoters, Mr. MSRV Prasad and Mr. R Basavaiah, have spent over three decades in the industry through association with other companies engaged in the manufacturing and installation of steel prefabricated structures. The experience has enabled the promoters to establish strong relationships with key customers and suppliers, resulting in repeat orders and steady growth in scale. VGSPL has maintained healthy relationships with established customers, which include Tata Steel Ltd, Larsen & Toubro Ltd, Nuclear Power Corporation Ltd, and Indian Oil Corporation Ltd, among others. Acuité believes that the company will continue to derive benefits from the extensive experience of the promoters.

Weaknesses

Delays in serving debt obligations
There have been continuous delays in servicing of term loan obligations by VGSPL from February 2025 to January 2026, as evident from loan account statement and written feedback received from the lending institution. The delays are on account of inadequate funds in the overdraft account on due dates.

Rating Sensitivities

Timely servicing of debt obligations

Liquidity Position:

Poor

The liquidity position of the company is marked poor on account of recent instances of delays in servicing of debt obligation

Outlook: Not Applicable

Other Factors affecting Rating

None

Key Financials

Particulars	Unit	FY 25 (Actual)	FY 24 (Actual)
Operating Income	Rs. Cr.	61.75	90.17
PAT	Rs. Cr.	0.12	0.57
PAT Margin	(%)	0.19	0.64
Total Debt/Tangible Net Worth	Times	2.03	1.65
PBDIT/Interest	Times	1.24	1.26

Status of non-cooperation with previous CRA (if applicable)

Not Applicable

Any other information

None

Applicable Criteria

• Default Recognition :- https://www.acuite.in/view-rating-criteria-52.htm
• Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.htm
• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm

Note on complexity levels of the rated instrument

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.

Rating History

Date	Name of Instruments/Facilities	Term	Amount (Rs. Cr)	Rating/Outlook
29 Nov 2024	Bank Guarantee (BLR)	Short Term	18.00	ACUITE A4+ (Upgraded from ACUITE A4)
	Cash Credit	Long Term	18.00	ACUITE BB \| Stable (Upgraded from ACUITE BB- \| Stable)
	Cash Credit	Long Term	8.00	ACUITE BB \| Stable (Upgraded from ACUITE BB- \| Stable)
	Proposed Long Term Bank Facility	Long Term	17.00	ACUITE BB \| Stable (Upgraded from ACUITE BB- \| Stable)
22 Sep 2023	Bank Guarantee (BLR)	Short Term	5.00	ACUITE A4 (Reaffirmed)
	Bank Guarantee (BLR)	Short Term	18.00	ACUITE A4 (Reaffirmed)
	Cash Credit	Long Term	18.00	ACUITE BB- \| Stable (Reaffirmed)
	Cash Credit	Long Term	8.00	ACUITE BB- \| Stable (Reaffirmed)
	Proposed Long Term Bank Facility	Long Term	12.00	ACUITE BB- \| Stable (Reaffirmed)
20 Jul 2023	Bank Guarantee (BLR)	Short Term	5.00	ACUITE A4 (Downgraded from ACUITE A4+)
	Bank Guarantee (BLR)	Short Term	28.00	ACUITE A4 (Downgraded from ACUITE A4+)
	Cash Credit	Long Term	18.00	ACUITE BB- \| Stable (Downgraded from ACUITE BB+ \| Stable)
	Cash Credit	Long Term	8.00	ACUITE BB- \| Stable (Downgraded from ACUITE BB+ \| Stable)
	Proposed Long Term Bank Facility	Long Term	2.00	ACUITE BB- \| Stable (Downgraded from ACUITE BB+ \| Stable)

Annexure - Details of instruments rated

Lender’s Name	ISIN	Facilities	Date Of Issuance	Coupon Rate	Maturity Date	Quantum (Rs. Cr.)	Complexity Level	Rating
Bandhan Bank	Not avl. / Not appl.	Bank Guarantee (BLR)	Not avl. / Not appl.	Not avl. / Not appl.	Not avl. / Not appl.	11.70	Simple	ACUITE A4 \| Downgraded ( from ACUITE A4+ )
UTKARSH SMALL FINANCE BANK LIMITED	Not avl. / Not appl.	Bank Guarantee (BLR)	Not avl. / Not appl.	Not avl. / Not appl.	Not avl. / Not appl.	5.00	Simple	ACUITE A4 \| Downgraded ( from ACUITE A4+ )
Bandhan Bank	Not avl. / Not appl.	Cash Credit	Not avl. / Not appl.	Not avl. / Not appl.	Not avl. / Not appl.	18.00	Simple	ACUITE C \| Downgraded ( from ACUITE BB )
AXIS BANK LIMITED	Not avl. / Not appl.	Cash Credit	Not avl. / Not appl.	Not avl. / Not appl.	Not avl. / Not appl.	8.00	Simple	ACUITE C \| Downgraded ( from ACUITE BB )
AXIS BANK LIMITED	Not avl. / Not appl.	Letter of Credit	Not avl. / Not appl.	Not avl. / Not appl.	Not avl. / Not appl.	7.00	Simple	ACUITE A4 \| Downgraded ( from ACUITE A4+ )
Not Applicable	Not avl. / Not appl.	Proposed Long Term Bank Facility	Not avl. / Not appl.	Not avl. / Not appl.	Not avl. / Not appl.	1.30	Simple	ACUITE C \| Downgraded ( from ACUITE BB )
UTKARSH SMALL FINANCE BANK LIMITED	Not avl. / Not appl.	Secured Overdraft	Not avl. / Not appl.	Not avl. / Not appl.	Not avl. / Not appl.	10.00	Simple	ACUITE A4 \| Downgraded ( from ACUITE A4+ )

Contacts

Mohit Jain
Chief Analytical Officer - Rating Operations

Dharmavarapu Sai Kiran
Senior Analyst - Rating Operations

Contact details exclusively for investors and lenders

Mob: +91 8591310146
Email ID: analyticalsupport@acuite.in

About Acuité Ratings & Research

Acuité is a full-service Credit Rating Agency registered with the Securities & Exchange Board of India (SEBI). The company received RBI Accreditation as an External Credit Assessment Institution (ECAI) for Bank Loan Ratings under BASEL-II norms in the year 2012. Acuité has assigned ratings to various securities, debt instruments and bank facilities of entities spread across the country and across a wide cross section of industries. It has its Registered and Head Office in Kanjurmarg, Mumbai.

Disclaimer: An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy, sell or hold any security. Ratings assigned by Acuité are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité, in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind, arising from the use of its ratings. Ratings assigned by Acuité are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité. Please visit https://www.acuite.in/faqs.htm to refer FAQs on Credit Rating.

Note: None of the Directors on the Board of Acuité Ratings & Research Limited are members of any rating committee and therefore do not participate in discussions regarding the rating of any entity.