Tanfac Industries Ltd announced that ICRA reaffirmed its ratings for various instruments, including Fund-based limits – Working capital facilities at [ICRA]A+(Stable) and [ICRA]A+, Non-fund-based facilities – Working capital facilities at [ICRA]A1+ and [ICRA]A1, Long-term – Term Loans at [ICRA]A+(Stable), and Fund based limits – Working capital facilities at [ICRA]A +(Stable), alongside reaffirming Non -fund based facilities – Working capital facilities at [ICRA]A 1+; the Long-term – Term Loans instrument of Rs. 70.00 crore was reaffirmed and assigned for an enhanced amount, while Short term – Unallocated limits were rated; ICRA also noted a Qualified Institutional Placement (QIP) of Rs. 250 crore completed in June 2026, a Preferential Issue of Rs. 99.41 crore completed, and a Non-disposal undertaking by ARIL for holdings of 24.99%, with a Stable outlook reflecting expectations of sustaining operating metrics and a strong capital structure due to a net-debt-free status, and highlighted a potential upgrade contingent on sustained improvements in scale, profitability, capital structure, and coverage indicators, or strengthening of parent ARIL's credit profile, alongside key financial indicators provided by ICRA Research.