Key Metrics of Pristine Industries Limited
About Pristine Industries Limited
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.
Sign in to continue See plans & pricingFiling compliance
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 |
|---|---|---|---|---|---|---|---|
| 24 Aug 2026 | ICRA | Reaffirmed | BBB- | A3 | Stable | ₹25.0 Cr | View |
Credit strengths (ICRA, Aug 2026)
+ Extensive experience of Group’s promoters in the plastic packaging industry
The Sanghvi Group has been engaged in the PP woven sacks business since 1985 and has developed strong relationships with customers across the cement and sugar industries, resulting in healthy repeat business over the years.
+ Strategically located manufacturing units entailing adequate geographical coverage
PPL’s manufacturing unit is in Kolhapur (Maharashtra), while PIL’s manufacturing unit is at Abu Road (Rajasthan) along the Rajasthan-Gujarat border.
+ Fairly diversified client base, reputed cement manufacturers and sugar mills in the customer mix
The Group caters to several reputed customers in the cement and sugar sectors, including UltraTech Cement Limited, India Cements Limited, JSW Cement Limited, Bajaj Hindusthan Sugar Limited and SBEC Sugar Limited.
+ Comfortable financial profile with healthy networth
The Group's financial profile remains comfortable, supported by a healthy net worth of Rs. 186.6 crore, as on March 31, 2026.
Credit challenges
− Highly fragmented industry structure leading to intense competition from both organised and unorganised players
The PP woven sacks industry remains highly fragmented, with numerous organised and unorganised playersin the field.
Could lead to an upgrade
ICRA could upgrade the rating in case Group demonstrates sustained growth in its earning while maintaining the comfortable financial profile and
Could lead to a downgrade
The rating could be downgraded if there is a decline in the earnings, large capex or elongation in the working capital cycle leading to material deterioration in the financial profile and weakening its
Agency-reported financials (ICRA, 24 Aug 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income | ₹221 Cr | ₹232 Cr |
| PAT | ₹7.90 Cr | ₹19.50 Cr |
| OPBDIT/OI | 6.3% | 9.1% |
| PAT/OI | 3.6% | 8.4% |
| Total outside liabilities/Tangible net worth (times) | 0.20× | 0.30× |
| Total debt/OPBDIT (times) | 1.50× | 1.30× |
| Interest coverage (times) | 4.50× | 11.90× |
| Revenue growth (YoY) | — | 5.3% |
| EBITDA (margin × income) | ₹13.90 Cr | ₹21.13 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹20.85 Cr | ₹27.47 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹3.09 Cr | ₹1.78 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term – Fund-based – Cash Credit | Working capital & bank lines | ₹18.0 Cr | ₹18.0 Cr | 0.0% | BBB- (Stable) | Reaffirmed | ICRA |
| Long-term – Fund-based – Term Loan (1.00) (1.00) | Term loans | ₹1.00 Cr | ₹1.00 Cr | 0.0% | BBB- (Stable) | Reaffirmed | ICRA |
| Long-term Short-term – Interchangeable Long-term Short-term | Working capital & bank lines | ₹6.00 Cr | ₹6.00 Cr | 0.0% | BBB- / A3 (Stable) | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
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) | 62% |
| Information on file | 44% · missing: 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: 56% chance the next rating action is stable or better
- Current rating BBB- (investment grade)
- Interest coverage 11.9×
- Working-capital limits 41% utilised on average
Rated limits by facility
Timeline
From the report
Liquidity position: Adequate The Group’s liquidity remains adequate, supported by an adequate cushion of Rs. 12.4 crore as of July 2026, with average utilisation of around 41% in working capital limits over the last 12-month period ending in July 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.