Key Metrics of T.c. Terrytex Limited
About T.c. Terrytex 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
NoteRating watch (ICRA, 06 Jul 2026)
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 06 Jul 2026 | ICRA | Watch | BBB | — | Stable | ₹220 Cr | View |
| 03 Oct 2018 | CARE | Other | — | — | — | — | View |
| 25 Jun 2018 | CARE | Non-cooperating | BB+ | A4+ | — | ₹173 Cr | View |
| 10 Apr 2017 | CARE | Non-cooperating | BB+ | A4+ | — | ₹173 Cr | View |
| 23 Nov 2015 | CARE | Assigned | BB+ | A4+ | — | ₹173 Cr | View |
Credit strengths (ICRA, Jul 2026)
+ Established position in home textile export market (terry towel) industry
TCTL is an established manufacturer and exporter of terry towels, having a wide range of bath towels, kitchen towels, involving higher value addition with embroidery and use of jacquard looms for designs and patterns.
+ Extensive experience of the promoters in the industry
The company is managed by Mr. Akhil Satia (Managing Director and Promoter), who has extensive experience in the textile industry.
+ Long association with leading large format retailers in the US and Australia
The company’s demonstrated track record of continued relationship with some of the large and reputed retail chains in the US and Australia over the years, has ensured repeat orders, lending healthy revenues.
Credit challenges
− High working capital intensity owing to high inventory days
TCTL’s operations remain working capital intensive due to a high inventory holding period for raw materials as well as finished goods.
Could lead to an upgrade
ICRA could upgrade TCTL’s ratings if the company sustains a healthy growth in its scale of operations, while maintaining working capital cycle, improving its credit metrics. Further, increased business from a wider set of customers and geographies could also be positive triggers for the ratings.
Could lead to a downgrade
The ratings may be downgraded if there is a significant decline in revenues and margins or any further elongation in the working capital cycle on a sustained basis.
Agency-reported financials (ICRA, 06 Jul 2026)
| Metric | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Operating income | ₹654 Cr | ₹674 Cr | ₹582 Cr |
| PAT | ₹13.40 Cr | ₹17.00 Cr | ₹15.80 Cr |
| OPBDIT/OI | 7.7% | 8.8% | 9.2% |
| PAT/OI | 2.1% | 2.5% | 2.7% |
| Total outside liabilities/Tangible net worth (times) | 1.90× | 1.70× | 1.50× |
| Total debt/OPBDIT (times) | 3.80× | 3.00× | 3.30× |
| Interest coverage (times) | 2.10× | 2.40× | 2.40× |
| Revenue growth (YoY) | — | 2.9% | −13.5% |
| EBITDA (margin × income) | ₹50.39 Cr | ₹59.27 Cr | ₹53.58 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹191 Cr | ₹178 Cr | ₹177 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹24.00 Cr | ₹24.70 Cr | ₹22.33 Cr |
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term Fund -based – Cash Credit Short -term – Non-Fund based | Non-fund based limits | ₹137 Cr | ₹137 Cr | 0.0% | BBB (Stable) | Watch | ICRA |
| Bank facilities Long-term Fund-based – Term | Working capital & bank lines | ₹29.0 Cr | ₹29.0 Cr | 0.0% | A3+ | Watch | ICRA |
| Loans | Other | ₹44.4 Cr | ₹53.5 Cr | 20.5% | BBB (Stable) | Watch | ICRA |
| Unallocated | Other | ₹10.1 Cr | ₹1.00 Cr | −90.1% | — | Watch | 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) | 51% |
| Information on file | 44% · missing: Liquidity position, 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: 51% chance the next rating action is stable or better
- Current rating BBB (investment grade)
- Interest coverage 2.4×
- ₹1 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
Moderate debt protection metrics – Owing to debt-funded capex undertaken in the past and loans availed, the company’s credit and coverage metrics remain modest, as indicated by Total Debt/OPBDITA of 3.3 times and interest coverage of 2.4 times in FY2026 (as per provisional financials).
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.