Press Release December 30, 2024 PEERLESS HOSPITEX HOSPITAL AND RESEARCH CENTER LIMITED Rating Withdrawn

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	20.00	Not Applicable | Withdrawn	-
Total Outstanding	0.00	-	-
Total Withdrawn	20.00	-	-

Rating Rationale

­Acuité has withdrawn its long-term rating for the Proposed long term bank facility on the Rs. 20.00 Cr. of Peerless Hospitex Hospital And Research Center Limited (PHHRCL) without assigning any rating as the rating has been withdrawn on account of the request received from the hospital as per Acuité's policy on withdrawal of ratings as applicable to the respective facility / instrument.

About the Company

­Established in May 1989, PHHRCL provides and operates a 500-bed multi-specialty hospital in Kolkata since 1993. It is a subsidiary of Peerless General Finance & Investment Company Limited (PGFICL) and holds accreditation from the National Accreditation Board of Hospitals. PHHRCL specializes in cardiology, neurology, gastroenterology, psychiatry, orthopaedics, paediatrics, urology, dental, nephrology, and more. The hospital collaborates with renowned professional doctors, maintains a fleet of ambulances, including intensive care unit (ICU) ambulances. The directors are Mr. Sujit Karpurkayastha, Mr. Soumendra Mohan Basu, Mr. Supriyo Sinha, Mr. Deepak Kumar Mukerjee, Mr. Arijit Basu, Mr. Ravindra Ramanand Pai, Mr. Venkat Raman Ramanan, Mrs. Indira Chakravarty, Mrs. Jayanta Roy, Mrs. Partha Sarathi Bhattacharyya and Mr. Sumit Bose.

Unsupported Rating

­Not Applicable

Analytical Approach

­Acuité has considered the standalone approach on PHHRCL's  business and financial risk profile for arriving at this rating.

Key Rating Drivers

Strengths

­Not Applicable

Weaknesses

­Not Applicable

Rating Sensitivities

­Not Applicable

All Covenants

­Not Applicable

Liquidity Position

­Not Applicable

Outlook: Not Applicable

­

Other Factors affecting Rating

­None

Key Financials

Particulars	Unit	FY 24 (Actual)	FY 23 (Actual)
Operating Income	Rs. Cr.	331.23	297.58
PAT	Rs. Cr.	39.53	33.48
PAT Margin	(%)	11.93	11.25
Total Debt/Tangible Net Worth	Times	1.13	0.51
PBDIT/Interest	Times	24.60	33.18

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 • Service Sector: https://www.acuite.in/view-rating-criteria-50.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 09 Oct 2023 Proposed Long Term Bank Facility Long Term 20.00 ACUITE A- | Stable (Upgraded from ACUITE BBB+ | Stable) 26 Jul 2022 Proposed Long Term Bank Facility Long Term 20.00 ACUITE BBB+ | Stable (Assigned)

­

Annexure - Details of instruments rated

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating Not Applicable Not avl. / Not appl. Proposed Long Term Bank Facility Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 20.00 Simple Not Applicable|Withdrawn

Contacts

Mohit Jain Senior Vice President - Rating Operations Manvi Khaitan Associate Analyst - Rating Operations	Contact details exclusively for investors and lenders Mob: +91 8591310146 Email ID: analyticalsupport@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. Note: None of the Directors on the Board of Acuité Ratings & Research Limited are members of any rating committee and therefore do not participate in discussions regarding the rating of any entity.