Key Metrics of Vilas Transcore Limited
About Vilas Transcore Limited
Company details
- Registered office
- Plot No 435 To 437, Nr Galaxy Hotel, N H No 8, Village Por, Vadodara, In-gj, 391243
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 |
|---|---|---|---|---|---|---|---|
| 18 Sep 2026 | ICRA | Reaffirmed | A- | A2+ | Stable | ₹45.0 Cr | View |
Credit strengths (ICRA, Sep 2026)
+ Healthy financial risk profile with low leverage and comfortable debt protection metrics
VTL’s financial risk profile continues to be healthy, with low gearing and comfortable debt protection metrics as the total debt remained low at Rs. 38.9 crore as on March 31, 2026 with no long-term debt.
+ Extensive experience of promoters in power transformer industry
VTL was established in 1995 by Mr. Nilesh Patel, who has over two decades of experience in manufacturing and processing laminated cores, transformer components and sheets for the transformer and power industry.
+ Established track record and reputed customer profile
VTL has built strong relationships with both customers and suppliers.
Credit challenges
− Vulnerability of profitability to fluctuations in raw material prices
VTL’s operating margins are primarily susceptible to the fluctuations in CRGO steel prices, which is the major raw material.
− Intense competition constrains pricing flexibility
The transformer lamination, cores and coils manufacturing industry is highly fragmented because of the presence of various organised and unorganised players, leading to intense competition.
− High working capital intensity
VTL’s key raw material is CRGO sheet, which is imported as well as domestically sourced.
Could lead to an upgrade
ICRA may upgrade the ratings in case of better business diversification, along with a substantial increase in its scale of operations, while maintaining healthy profitability and comfortable debt protection metrics on a sustained basis .
Could lead to a downgrade
ICRA may downgrade VTL’s ratings in case of any significant decline in its scale of operations or a moderation in margins on a sustained basis. Any large debt -funded capital expenditure or a stretch in the company’s working capital cycle, www.icra .in Sensitivity Label : Public Page |2 resulting in a deterioration in key credit metrics and
Agency-reported financials (ICRA, 18 Sep 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income (OI) | ₹353 Cr | ₹461 Cr |
| PAT | ₹34.50 Cr | ₹39.60 Cr |
| OPBDIT/OI | 12.7% | 11.2% |
| PAT/OI | 9.8% | 8.6% |
| Total outside liabilities/Tangible net worth (times) | 0.20× | 0.20× |
| Total debt/OPBDIT (times) | 0.04× | 0.12× |
| Interest coverage (times) | 29.90× | 24.20× |
| Revenue growth (YoY) | — | 30.5% |
| EBITDA (margin × income) | ₹44.84 Cr | ₹51.60 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹1.79 Cr | ₹6.19 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹1.50 Cr | ₹2.13 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term – Cash credit | Working capital & bank lines | ₹3.00 Cr | ₹3.00 Cr | 0.0% | A- (Stable) | Reaffirmed | ICRA |
| Short-term – Letter of credit | Non-fund based limits | ₹42.0 Cr | ₹42.0 Cr | 0.0% | A2+ | 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) | 73% |
| 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: 65% chance the next rating action is stable or better
- Current rating A- (investment grade)
- Interest coverage 24.2×
- Working-capital limits 39% utilised on average
Rated limits by facility
Timeline
From the report
Key rating drivers and their description Credit strengths Healthy financial risk profile with low leverage and comfortable debt protection metrics – VTL’s financial risk profile continues to be healthy, with low gearing and comfortable debt protection metrics as the total debt remained low at Rs. 38.9 crore as on March 31, 2026 with no long-term debt.
From the report
The average working capital limit utilisation – both fund and non-fund based combined – was ~39% during the last 12 months that ended in June 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.