For a better experience, Read this story in our App
TO ENJOY ADDITIONAL BENEFITS
Connect With Us
Get BusinessLine apps on
The shares of Vaibhav Global Limited (VGL) were trading at ₹308.55, down by ₹0.85 or 0.27 per cent, on the NSE at 11.05 am.
VGL had received a credit rating upgrade from CARE Ratings Limited on September 17, 2024. The company’s long-term bank facilities rating was elevated from ‘CARE A’ to ‘CARE A+’ with a stable outlook, reflecting its improved financial performance and robust market position.
The short-term rating was reaffirmed at ‘CARE A1’, indicating the company’s strong liquidity and ability to meet short-term obligations.
Nitin Panwad, Group CFO of Vaibhav Global, said, “Our approach to prudent capital management, with a strong balance sheet, positions us to leverage opportunities and supports our long-term growth objectives.”
VGL, an omni-channel e-tailer of fashion jewellery, accessories, and lifestyle products, operates TV home shopping networks and e-commerce websites in the US, UK, and Germany. The company’s flagship midday meal programme has provided over 92 million meals across countries since inception.
Published on September 18, 2024
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.