Bank loan

Brickwork improves credit ratings of Vimta Labs bank loan facilities

Vimta Labs Ltd has informed that Brickwork’s ratings have improved the credit ratings of the company’s bank facilities.

The long-term rating was upgraded to BWR A with a stable outlook while the short-term rating was upgraded to BWR A1.

The improved ratings of Vimta Labs Limited (VLL or the Company) reflect the continued improvement and better than expected business and financial profile since the start of the year after a stable performance in FY21.

The rating upgrade also takes into account the positive industry/business outlook of the diagnostics/analyticals business, especially given the current pandemic scenario and the recent addition of 3 new laboratories to its network, bringing the number to 21 laboratories across the country, aiming to tap into the growing demand.

Brickwork Ratings (BWR) believes that VLL’s business risk profile will be maintained over the medium term. The outlook could be revised to positive if a sustained increase in the scale of operations, timely realization of receivables and higher-than-expected improvement in profitability translate into an improved financial risk profile, the ICRC said. rating agency.

At around 1:32 p.m., Vimta Labs was trading at Rs399.50 each, up Rs2 or 0.5% on Sensex.