Press Release September 25, 2024 SAI APPLIED TECHNOLOGIES PRIVATE LIMITED Rating Withdrawn

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	2.00	Not Applicable | Withdrawn	-
Bank Loan Ratings	6.00	-	Not Applicable | Withdrawn
Total Outstanding	0.00	-	-
Total Withdrawn	8.00	-	-

Rating Rationale

­Acuite has withdrawn its long-term and short-term rating on Rs.8 Cr. bank facilities of Sai Applied Technologies Private Limited (SAT) without assigning any rating as the instrument is fully repaid. The rating withdrawal is in accordance with Acuite’s policy on withdrawal of rating as applicable to the respective facility / instrument. The rating is being withdrawn on account of request received from the Company and No Dues Certificate received from the banker.

About the Company

­The Gujarat-based, Sai Applied Technologies Private Limited (SAT) was incorporated by Mr. Prakash Jambur and Mrs. Sucharitha Jambur in 2014. SAT is engaged into manufacturing, erection and commissioning of automation system control panels for water, waste water, food processing, atomic energy, thermal energy, oil & gas and various other Industries / plants. SAT is ISO 9001:2015 as well as Conformité Européenne (CE) certified company.

Unsupported Rating

­Not Applicable

Analytical Approach

­Not Applicable

Key Rating Drivers

Strengths

Not Applicable­

Weaknesses

­Not Applicable

Rating Sensitivities

­Not Applicable

Liquidity Position

­Not Applicable

Outlook: Not Applicable

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Other Factors affecting Rating

­None

Key Financials

Particulars	Unit	FY 24 (Provisional)	FY 23 (Actual)
Operating Income	Rs. Cr.	38.56	24.80
PAT	Rs. Cr.	0.99	0.75
PAT Margin	(%)	2.56	3.04
Total Debt/Tangible Net Worth	Times	0.47	0.07
PBDIT/Interest	Times	2.92	4.80

Status of non-cooperation with previous CRA (if applicable)

­Not Applicable

Any other information

­None

Applicable Criteria

• Default Recognition :- https://www.acuite.in/view-rating-criteria-52.htm • Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.htm • Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm

Note on complexity levels of the rated instrument

­In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’ s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on www.acuite.in.

Rating History

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook 22 Aug 2023 Cash Credit Long Term 2.00 ACUITE BB- (Reaffirmed & Issuer not co-operating*) Bank Guarantee/Letter of Guarantee Short Term 3.00 ACUITE A4+ (Reaffirmed & Issuer not co-operating*) Letter of Credit Short Term 3.00 ACUITE A4+ (Reaffirmed & Issuer not co-operating*) 01 Jun 2022 Bank Guarantee/Letter of Guarantee Short Term 3.00 ACUITE A4+ (Reaffirmed & Issuer not co-operating*) Letter of Credit Short Term 3.00 ACUITE A4+ (Reaffirmed & Issuer not co-operating*) Cash Credit Long Term 2.00 ACUITE BB- (Downgraded & Issuer not co-operating* from ACUITE BB) 27 Feb 2021 Bank Guarantee (BLR) Short Term 3.00 ACUITE A4+ (Reaffirmed & Issuer not co-operating*) Letter of Credit Short Term 3.00 ACUITE A4+ (Reaffirmed & Issuer not co-operating*) Cash Credit Long Term 2.00 ACUITE BB (Downgraded & Issuer not co-operating* from ACUITE BB+)

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Annexure - Details of instruments rated

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating Bank of Baroda Not avl. / Not appl. Bank Guarantee/Letter of Guarantee Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 3.00 Simple Not Applicable|Withdrawn Bank of Baroda Not avl. / Not appl. Cash Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 2.00 Simple Not Applicable|Withdrawn Bank of Baroda Not avl. / Not appl. Letter of Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 3.00 Simple Not Applicable|Withdrawn

Contacts

Analytical Details	Contact Details
Mohit Jain Senior Vice President - Rating Operations Tel: 022–49294017 mohit.jain@acuite.in Sahil Sawant Associate Analyst - Rating Operations Tel: 022-49294065 sahil.sawant@acuite.in	Contact details exclusively for investors and lenders Mob: +91 8591310146 Email ID: analyticalsupport@acuite.in Tel: 022-49294011 rating.desk@acuite.in

About Acuité Ratings & Research

Acuité is a full-service Credit Rating Agency registered with the Securities & Exchange Board of India (SEBI). The company received RBI Accreditation as an External Credit Assessment Institution (ECAI) for Bank Loan Ratings under BASEL-II norms in the year 2012. Acuité has assigned ratings to various securities, debt instruments and bank facilities of entities spread across the country and across a wide cross section of industries. It has its Registered and Head Office in Kanjurmarg, Mumbai. Disclaimer: An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy, sell or hold any security. Ratings assigned by Acuité are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité, in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind, arising from the use of its ratings. Ratings assigned by Acuité are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité. Please visit https://www.acuite.in/faqs.htm to refer FAQs on Credit Rating.