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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 3.00 | - | ACUITE A4 | Reaffirmed | Issuer not co-operating* |
Bank Loan Ratings | 7.00 | ACUITE B | Reaffirmed | Issuer not co-operating* | - |
Total Outstanding Quantum (Rs. Cr) | 10.00 | - | - |
Total Withdrawn Quantum (Rs. Cr) | 0.00 | - | - |
Rating Rationale |
Acuité has reaffirmed the long-term rating of ‘ACUITE B’ (read as ACUITE single B ) and the short-term rating of ‘ACUITE A4’ (read as ACUITE A Four) on the Rs.10.00 Crore bank facilities of Aureole Inspecs India Private Limited. The rating continues to be flagged as “Issuer Not Cooperating” and is based on the best available information. |
About the Company |
Aureole Inspecs India Private Limited (AIIPL) a Delhi based company was incorporated in 2002 by Mr. Vineet Sharma, Mrs. Amrita Khurana Sharma, Mr. Christopher Brian Davidson Smith, Mr. Vivek Kak. The company is MSME registered and is engaged in manufacturing of Snow Goggles, All-terrain goggles, fashion eyewear amongst others. The company sells 90 percent of its products to Indian Defence and 10 percent through e-commerce websites like Jabong, Flipkart, Myntra, to name a few. |
Non-cooperation by the issuer/borrower: |
Acuité has been requesting for data, information and undertakings from the rated entity for conducting surveillance & review of the rating. However, the issuer/borrower failed to submit such information before the due date. |
Limitation regarding information availability: |
The rating is based on information available from sources other than the issuer/borrower (in the absence of information provided by the issuer/borrower). Acuité endeavored to gather information about the entity/industry from the public domain. Therefore, Acuité cautions lenders and investors regarding the use of such information, on which the indicative credit rating is based. |
About the Rated Entity - Key Financials |
The rated entity has not shared the latest financial statements despite repeated requests. |
Rating Sensitivity |
No information provided by the issuer / available for Acuite to comment upon. |
Material Covenants |
Not Applicable |
Liquidity Position |
No information provided by the issuer / available for Acuite to comment upon. |
Outlook |
Not Applicable |
Status of non-cooperation with previous CRA |
CRISIL vide its press release dated 27 January 2022, has classified AIIPL as 'Issuer Not Cooperating' and rated 'CRISIL B/Stable/A4'. |
Any other information |
Acuité is yet to receive the latest No Default Statement (NDS) from the rated entity, despite repeated requests and follow-ups. |
Applicable Criteria |
• Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm |
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About Acuité Ratings & Research |
Acuité Ratings & Research Limited | www.acuite.in |