Key Metrics of Visionindia Tech Services Limited
About Visionindia Tech Services 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.
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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 |
|---|---|---|---|---|---|---|---|
| 28 Apr 2026 | ICRA | Reaffirmed | BB+ | A4+ | Stable | ₹37.3 Cr | View |
Credit strengths (ICRA, Apr 2026)
+ Established track record of the company in the financial inclusion business
VITSL is primarily engaged in providing services under the financial inclusion BC framework.
+ Low debt levels result in comfortable coverage metrics
Given the low capital intensive nature of operations, VITSL’s reliance on debt has remained relatively low.
+ Asset-light business model
The company operates under an asset-light business model, as the working capital required for day-to-day transaction execution is largely borne by the BCs.
Credit challenges
− Moderate scale of operations
The company’s scale of operations remains moderate, as reflected by an operating income of Rs. 138.8 crore in FY2026 (provisional) (Rs. 132.0 crore in FY2025).
− Risks associated with non-renewal of contracts/ downward revision of commercials
VITSL’s revenues remain exposed to the risk of non-renewal of contracts by banks, given the inherently contract-based nature of its CBC operations.
− Exposed to regulatory risks
The financial inclusion industry is dependent on the regulatory policies framed by the Reserve Bank of India (RBI) and the Government of India (GoI).
− Revenues depend on performance of BCs
VITSL’s revenues are largely dependent on the performance of BCs, who operate as independent agents on a commission basis.
Could lead to an upgrade
ICRA could upgrade VITSL’s ratings if the company demonstrates healthy growth in revenue and accrual generation, while maintaining its debt protection metrics and adequate
Could lead to a downgrade
Pressure on the company’s ratings could arise in case of material decline in revenues or if any unfavourable regulatory developments lead to weakening of its credit profile on a sustained basis; or stretched working capital cycle leading to deterioration in its
Agency-reported financials (ICRA, 28 Apr 2026)
| Metric | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Operating income (OI) | ₹133 Cr | ₹132 Cr | ₹139 Cr |
| PAT | ₹0.60 Cr | ₹3.80 Cr | ₹3.80 Cr |
| OPBDIT/OI | 4.1% | 5.0% | 5.8% |
| PAT/OI | 0.4% | 2.8% | 2.7% |
| Total outside liabilities/Tangible net worth (times) | 0.70× | 0.50× | 0.40× |
| Total debt/OPBDIT (times) | 2.90× | 1.20× | 0.80× |
| Interest coverage (times) | 3.10× | 4.70× | 5.90× |
| Revenue growth (YoY) | — | −0.8% | 5.2% |
| EBITDA (margin × income) | ₹5.45 Cr | ₹6.60 Cr | ₹8.05 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹15.81 Cr | ₹7.92 Cr | ₹6.44 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹1.76 Cr | ₹1.40 Cr | ₹1.36 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long-term Fund-based – Cash Credit Long-term Fund-based | Working capital & bank lines | ₹2.00 Cr | ₹2.00 Cr | 0.0% | BB+ (Stable) | Reaffirmed | ICRA |
| Overdraft Long-term – Fund-based – Term | Working capital & bank lines | ₹10.0 Cr | ₹3.70 Cr | −63.0% | BB+ (Stable) | Reaffirmed | ICRA |
| Loan Short-term – Non-fund based | Non-fund based limits | ₹82.0 L | ₹2.13 Cr | 159.8% | BB+ (Stable) | Reaffirmed | ICRA |
| Bank Guarantee | Non-fund based limits | ₹24.5 Cr | ₹22.0 Cr | −10.1% | A4+ | Reaffirmed | ICRA |
| Long-term Short-term – Unallocated Limits | Working capital & bank lines | ₹0 | ₹7.47 Cr | — | BB+ / A4+ (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) | 54% |
| Information on file | 56% · missing: 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: 50% chance the next rating action is stable or better
- Current rating BB+ (below investment grade)
- Interest coverage 5.9×
- ₹7.47 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
Liquidity position: Adequate VITSL’s liquidity position is adequate, supported by steady internal accrual generation, free cash and bank balance of around Rs. 4.0 crore as on March 31, 2026.
From the report
VITSL has cash credit limits of Rs. 2.0 crore, which has been merely utilised in the last 12- month period ending in 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.