|
Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 6.00 | ACUITE B- | Reaffirmed | Issuer not co-operating* | - |
Total Outstanding | 6.00 | - | - |
Total Withdrawn | 0.00 | - | - |
* The issuer did not co-operate; based on best available information. |
Rating Rationale |
Acuité has reaffirmed the long-term rating of ‘ACUITE B-’ (read as ACUITE B minus) on the Rs. 6.00 crore bank facilities of Sri Balaji Modern Rice Mill (SBMRM). The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information. |
About the Company |
The Tamil Nadu based, Sri Balaji Modern Rice Mill (SBMRM) is a proprietary concern established in 2014 by Mrs. V Revathy and Mr. Venkateshan for processing of paddy. The concern trades and processes non-basmati rice and distributed the same in the domestic market. The concern has an installed rice processing capacity of 100 tons per month. |
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. |
Limitation regarding information availability |
Rating Sensitivity |
"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 |
Particulars | Unit | FY 18 (Actual) | FY 17 (Actual) |
Operating Income | Rs. Cr. | 5.35 | 0.98 |
PAT | Rs. Cr. | 0.15 | 0.11 |
PAT Margin | (%) | 2.87 | 11.09 |
Total Debt/Tangible Net Worth | Times | 2.41 | 1.38 |
PBDIT/Interest | Times | 2.15 | 2.18 |
Status of non-cooperation with previous CRA |
Not Applicable |
Any other information |
None |
Applicable Criteria |
• Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.htm • Trading Entities: https://www.acuite.in/view-rating-criteria-61.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm |
Note on complexity levels of the rated instrument |
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* The issuer did not co-operate; based on best available information. |
Contacts |
About Acuité Ratings & Research |
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