Key Metrics of Abhitex International
About Abhitex International
Company details
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
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Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 08 May 2026 | ICRA | Reaffirmed | A | A1 | Stable | ₹140 Cr | View |
Credit strengths (ICRA, May 2026)
+ Extensive experience of promoters in home textile business
The Paliwal Group is promoted by Mr. Avinash Paliwal, who has extensive experience in the home textile business.
+ Strong relationships with overseas clientele including leading home furnishing retailers
Over the years, the Group has developed a strong client base in the export markets of the US, which has been providing repeat business on a sustained basis.
+ Healthy financial risk profile
The entity has a strong financial profile, characterised by a robust capital base (net worth of Rs. 228.3 crore as on December 31, 2025), a conservative capital structure (TD/TNW of 0.3 times and total outside liabilities/TNW of 0.5 times as on December 31, 2025) and healthy debt coverage indicators (interest coverage of 7.1 times and TD/OPBDITA of 1.5 times in 9M FY2026).
Credit challenges
− High working capital intensity owing to high inventory holding requirement in the textile business
Abhitex’s business remains working capital intensive, with high inventory holding requirements (129 days and 103 days in FY2025 and 9M FY2026, respectively), exposing profitability to volatility in raw material prices.
− Vulnerability to change in export incentive policies, rates and tariffs
The profitability of Abhitex, like that of other textile exporters, is supported by export incentives provided by the Government of India, which accounted for around 60-70% of the operating profits of Abhitex.
Could lead to an upgrade
The ratings could be upgraded if the home textile business achieves a sustained strong growth in its scale of operations and profitability, while maintaining its debt coverage metrics and a healthy
Could lead to a downgrade
The ratings could be downgraded if there is a sustained pressure on the entity’s revenues and profitability. Further, a stretch in the working capital cycle or sizeable investment or high capital withdrawal by the partners, adversely impacting its financial risk profile or the
Agency-reported financials (ICRA, 08 May 2026)
| Metric | FY2024 | FY2025 | 9M FY2026 |
|---|---|---|---|
| Operating income | ₹313 Cr | ₹309 Cr | ₹276 Cr |
| PAT | ₹20.10 Cr | ₹20.00 Cr | ₹18.50 Cr |
| OPBDIT/OI | 12.9% | 13.7% | 13.9% |
| PAT/OI | 6.4% | 6.5% | 6.7% |
| Total outside liabilities/Tangible net worth (times) | 0.60× | 0.60× | 0.50× |
| Total debt/OPBDIT (times) | 2.20× | 2.30× | 1.50× |
| Interest coverage (times) | 8.90× | 6.30× | 7.10× |
| Revenue growth (YoY) | — | −1.1% | — |
| EBITDA (margin × income) | ₹40.36 Cr | ₹42.39 Cr | ₹38.35 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹88.79 Cr | ₹97.50 Cr | ₹57.53 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹4.53 Cr | ₹6.73 Cr | ₹5.40 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| credit | Other | ₹95.8 Cr | ₹96.0 Cr | 0.2% | A (Stable) | Reaffirmed | ICRA |
| loan | Other | ₹39.5 Cr | ₹28.8 Cr | −27.2% | A (Stable) | Reaffirmed | ICRA |
| Long Term – Unallocated limits | Working capital & bank lines | ₹18.0 L | ₹10.8 Cr | 5,872.2% | A (Stable) | Reaffirmed | ICRA |
| Short Term Non-Fund Based | Non-fund based limits | ₹4.00 Cr | ₹4.00 Cr | 0.0% | A1 | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2024-25
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 60% |
| Information on file | 33% · missing: Audited financial statements (last 18 months), Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 59% chance the next rating action is stable or better
- Current rating A (investment grade)
- Interest coverage 7.1×
- ₹10.75 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
Liquidity position: Adequate The entity’s liquidity position is likely to remain adequate, supported by healthy cash generated from operations, free cash and liquid investments of Rs. 0.6 crore, and an average cushion of around 38% of the sanctioned limits in its fund-based working capital limits of Rs. 96 crore as of the last twelve months ended March 2026.
From the report
Liquidity position: Adequate The entity’s liquidity position is likely to remain adequate, supported by healthy cash generated from operations, free cash and liquid investments of Rs. 0.6 crore, and an average cushion of around 38% of the sanctioned limits in its fund-based working capital limits of Rs. 96 crore as of the last twelve months ended March 2026.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.