Key Metrics of Acknit Industries Limited
About Acknit Industries Limited
Sectors
Company details
Operational Areas of Acknit Industries Limited
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 |
|---|---|---|---|---|---|---|---|
| 15 Apr 2026 | ICRA | Reaffirmed | BBB | A3+ | Stable | ₹93.2 Cr | View |
Credit strengths (ICRA, Apr 2026)
+ Long experience of promoters and established track record of operations in the safetywear industry
AIL has been manufacturing industrial gloves since 1990.
+ Diverse and flexible product mix lead to competitive advantages
AIL has a reputed and established client base across industries, which generates repeat orders, highlighting acceptable product quality and reducing counterparty risk.
+ Diversified geographical presence
AIL’s geographical presence remains fairly diversified, with sales across the US, Europe and the West Asian countries, apart from the domestic market, which accounted for around 39% of the company’s turnover in FY2025.
+ Favourable financial risk profile, characterised by a conservative capital structure and comfortable coverage metrics
The capital structure of the company continued to remain conservative, despite an increase in the overall debt level, owing to a modest accretion to reserves.
Credit challenges
− Relatively smaller scale of current operations; top line remained uneven over the past few years
The operating income of the company remained almost stagnant during FY2017-FY2021.
− Intense competition exerts pressure on margins
Intense competition from large number of organised and unorganised players in the international safety wear market, owing to the low value-accretive nature of products and limited bargaining power against large overseas clientele constrains pricing flexibility.
− Exposed to foreign exchange rate fluctuation and regulatory risks
AIL generates a significant portion (61% in FY2025) of its revenue from export sales, which exposes it to foreign exchange rate fluctuation risk.
Could lead to an upgrade
ICRA may upgrade the ratings if the company achieves meaningful growth in revenues and earnings by securing recurring business from existing or new customers or by expanding into new geographies . www.icra .in Sensitivity Label : Public Page |3
Could lead to a downgrade
ICRA may downgrade the ratings in case a large debt-funded capital expenditure strains the balance sheet, or if a deterioration in the working capital cycle, or a decline in margins, adversely impacts the company’s credit metrics or
Agency-reported financials (ICRA, 15 Apr 2026)
| Metric | FY2024 | FY2025 | 9M FY2026 | 9M FY2025 |
|---|---|---|---|---|
| Operating income | ₹219 Cr | ₹238 Cr | ₹174 Cr | ₹175 Cr |
| Adjusted operating income# | ₹221 Cr | ₹240 Cr | — | — |
| PAT | ₹8.60 Cr | ₹9.00 Cr | ₹4.60 Cr | ₹5.80 Cr |
| OPBDIT/OI | 6.9% | 6.5% | 6.5% | 7.0% |
| Adjusted OPBDIT/OI# | 7.8% | 7.6% | — | — |
| PAT/OI | 3.9% | 3.8% | 2.6% | 3.3% |
| Total outside liabilities/Tangible net worth (times) | 1.00× | 0.90× | — | — |
| Total debt/OPBDIT (times) | 3.90× | 3.80× | — | — |
| Adjusted total debt/OPBDIT (times)# | 3.40× | 3.20× | — | — |
| Interest coverage (times) | 5.60× | 4.90× | 3.70× | 6.20× |
| Adjusted interest coverage (times)# | 6.30× | 5.80× | — | — |
| Revenue growth (YoY) | — | 8.8% | — | — |
| EBITDA (margin × income) | ₹15.08 Cr | ₹15.46 Cr | ₹11.28 Cr | ₹12.24 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹58.81 Cr | ₹58.75 Cr | — | — |
| Implied interest cost (EBITDA ÷ coverage) | ₹2.69 Cr | ₹3.16 Cr | ₹3.05 Cr | ₹1.97 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term Fund-based – Working Capital Facilities | Working capital & bank lines | ₹70.0 Cr | ₹70.0 Cr | 0.0% | BBB (Stable) | Reaffirmed | ICRA |
| Long-term Fund-based – Term Loan | Term loans | ₹1.28 Cr | ₹15.2 Cr | 1,085.9% | BBB (Stable) | Reaffirmed | ICRA |
| Short-term – Non-Fund based – Working Capital Facilities Long-term Short-term – Non-Fund based | Non-fund based limits | ₹6.02 Cr | ₹6.02 Cr | 0.0% | A3+ | Reaffirmed | ICRA |
| Working Capital Facilities | Working capital & bank lines | ₹2.00 Cr | ₹2.00 Cr | 0.0% | BBB / A3+ (Stable) | Reaffirmed | ICRA |
| Long-term Short-term – Unallocated Limits | Working capital & bank lines | ₹2.00 L | ₹2.00 L | 0.0% | BBB / A3+ (Stable) | Reaffirmed | ICRA |
Credit assessment · Cotton textile
Rating Methodology – Cotton Textile (Sep 2026) · 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) | 55% |
| Information on file | 44% · missing: Audited financial statements (last 18 months), Annual results history (3+ years), Liquidity position, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 53% chance the next rating action is stable or better
- Current rating BBB (investment grade)
- Interest coverage 5.8×
- ₹0.02 cr of rated limits not yet tied to a lender
What happened, step by step
- Apr 2026 — Project / plant of ₹20 cr
- Apr 2026 — Term debt tied up (₹14 cr)
“The management plans to set up a coated gloves manufacturing unit with an estimated capital cost of around Rs. 20 crore, proposed to be funded by a mix of debt and equity, in Falta, West Bengal, over the next 2-3 years.”
Rated limits by facility
Timeline
From the report
The management plans to set up a coated gloves manufacturing unit with an estimated capital cost of around Rs. 20 crore, proposed to be funded by a mix of debt and equity, in Falta, West Bengal, over the next 2-3 years.
From the report
The company availed a working capital term loan of Rs. 14 crore under the Export Credit Guarantee Scheme, which is likely to strengthen its liquidity position going forward.
From the report
The company has nominal long- term debt repayment obligations of Rs. 0.33 crore in FY2026 and around Rs. 1.5 crore in FY2027.
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.
Competitors of Acknit Industries Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
| Silgo Retail Limited | · Manufacturing (Others) | — | — | Jaipur, Rajasthan, India |
| Denim & Casual Wear · Apparel, Textiles & Footwear | trentlimited.com | — | India | |
 Aditya Birla Fashion & Retail |
Formal & Premium Menswear · Apparel, Textiles & Footwear | abfrl.com | — | Mumbai, India |
| Formal & Premium Menswear · Apparel, Textiles & Footwear | raymond.in | — | Ratnagiri, India | |
 Arvind Fashions Limited |
Denim & Casual Wear · Apparel, Textiles & Footwear | arvindfashions.com | — | Ahmedabad, Gujarat, India |
 Page Industries |
Textiles, Cotton & Yarn · Apparel, Textiles & Footwear | pageind.com | 1995 | Bengaluru, India |
 Bata India |
Footwear · Apparel, Textiles & Footwear | bata.com/in | — | Kolkata, India |
| S.p.apparels Limited | Denim & Casual Wear · Apparel, Textiles & Footwear | — | — | Tiruppur, Tamil Nadu, India |
 Vedant Fashions Limited |
Denim & Casual Wear · Apparel, Textiles & Footwear | manyavar.com | — | Kolkata, West Bengal, India |
 Monte Carlo Fashions (Oswal Woollen Mills) |
Denim & Casual Wear · Apparel, Textiles & Footwear | montecarlo.in | — | India |
Similar companies
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.