Press Release January 07, 2025 SHRI BAIJU TRADING AND INVESTMENT PRIVATE LIMITED Rating Downgraded and Issuer not co-operating

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	100.00	ACUITE B | Downgraded | Issuer not co-operating*	-
Total Outstanding	100.00	-	-
Total Withdrawn	0.00	-	-
* The issuer did not co-operate; based on best available information.

Rating Rationale

­Acuité has downgraded its long-term rating to ‘ACUITE B+' (read as ACUITE B plus) from 'ACUITE B' (read as ACUITE B) on the Rs.100.00 Cr. bank loan facilities of Shri Baiju Trading and Investment Private Limited. The rating has been downgraded on account of  information risk. The rating is now flagged as 'Issuer not co-operating' and is based on the best avaliable information.

About the Company

­­Incorporated in 2019, Shri Baiju Trading and Investment Private Limited (SBTIPL) is registered as a Non-Banking Finance Corporation (NBFC) with RBI.  The company provides different types of loan like Personal Loan, Loan Against Property (LAP), Business Loan etc, with majority portfolio dominated by personal loans (~80% in FY23). The company deals majorly in unsecured small ticket size loans with average ticket size being ~Rs.50k. For any loan above Rs.50k and upto Rs.15 lacs, a security is taken against the loan. The authorized directors are Mr. Atul Kumar and Ms Ayesha.

Unsupported Rating

­Not Applicable

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. Acuité believes that information risk is a critical component in such ratings, and noncooperation by the issuer along with an unwillingness to provide information could be a sign of potential deterioration in its overall credit quality. This rating is therefore being flagged as “Issuer not-cooperating”, in line with prevailing SEBI regulations and Acuité’s policies.

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.

Rating Sensitivities

­"No information provided by the issuer / available for Acuite to comment upon."

Liquidity Position

­"No information provided by the issuer / available for Acuite to comment upon."

Outlook

­Not Applicable

Other Factors affecting Rating

­None

Key Financials:

­ Particulars Unit FY24 (Actual) FY23 (Actual) Total Assets Rs Cr. 59.09 52.70 Total Income* Rs Cr. 4.71 5.60 PAT Rs Cr. 0.89 2.62 Networth Rs Cr. 29.79 28.90 Return on Average Assets (ROAA) (%) 1.60 2.74 Return on Net Worth (RoNW) (%) 3.05 9.49 Total Debt/Tangible Net Worth (Gearing) Times 0.93 0.78 Gross NPA’s (%) N/A N/A Net NPA’s (%) N/A N/A ­*Total income equals to Net Interest Income plus other income

Status of non-cooperation with previous CRA

­Not Applicable

Any other information

­None

Applicable Criteria

• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Non-Banking Financing Entities: https://www.acuite.in/view-rating-criteria-44.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 10 Oct 2023 Term Loan Long Term 5.00 ACUITE B+ | Stable (Assigned) Proposed Term Loan Long Term 75.00 ACUITE B+ | Stable (Assigned) Proposed Cash Credit Long Term 20.00 ACUITE B+ | Stable (Assigned)

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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 Not Applicable Not avl. / Not appl. Proposed Cash Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 20.00 Simple ACUITE B | Downgraded | Issuer not co-operating* ( from ACUITE B+ ) Not Applicable Not avl. / Not appl. Proposed Term Loan Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 75.00 Simple ACUITE B | Downgraded | Issuer not co-operating* ( from ACUITE B+ ) Indostar Capital Finance Limited Not avl. / Not appl. Term Loan Not avl. / Not appl. Not avl. / Not appl. 05 Mar 2042 5.00 Simple ACUITE B | Downgraded | Issuer not co-operating* ( from ACUITE B+ )

* The issuer did not co-operate; based on best available information.

Contacts

Mohit Jain Senior Vice President - Rating Operations Shabad Palakkal 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.