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.