Press Release January 24, 2025 SHREE NAMAN SECURITIES AND FINANCE PRIVATE LIMITED Rating Downgraded, Reaffirmed, Withdrawn & Issuer Not Cooperating

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	4.65	ACUITE B | Downgraded & Withdrawn | Issuer not co-operating*	-
Bank Loan Ratings	10.50	-	ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
Total Outstanding	0.00	-	-
Total Withdrawn	15.15	-	-
* The issuer did not co-operate; based on best available information.

Rating Rationale

­Acuité has downgraded and withdrawn its long-term rating from ‘ACUITE B+' (read as ACUITE B plus) to 'ACUITE B' (read as ACUITE B) on the Rs.4.65 Cr. bank facilities of Shree Naman Securities and Finance Private Limited.  Acuité has reaffirmed and withdrawn its short term rating to ‘ACUITE A4' (read as ACUITE A Four) on the Rs.10.50 Cr. bank facilities of Shree Naman Securities and Finance Private Limited. The rating continues to be flagged as "Issuer not corporating' and is based on the best avaliable information. The rating downgrade is on account of information risk. The rating withdrawal is in accordance with Acuité'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 The rating is being withdrawn on account of request received from the company and No Objection Certificate received from the bankers.

About the Company

­Incorporated in 1995, Shree Naman Securities and Finance Private Limited is a Mumbai based financial and stock broking house. Mr. Jayesh Shah is the owner/promoter of the company. He has more than three decades of experience in the industry. The company is a member of Bombay Stock Exchange (BSE) & National Stock Exchange (NSE), F&O Currency Derivatives segment and a self-clearing member in F&O & Currency. The company is registered as a Depository Participant with CDSL.

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

This rating is based on information available from sources other than the issuer / borrower (in the absence of information provided by the issuer / borrower) . Acuite endeavoured to gather information about the entity/industry from the public domain. Any rating with the suffix 'Issuer not cooperating' is assigned without any management interaction with the issuer entity or any data / information from the entity. Sometimes this non co-operation by a rated entity may be due to a result of deterioration in the credit risk profile of the entity. Therefore, Acuité cautions lenders and investors regarding the use of such information, on which the indicative credit rating is based.

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.

Key Financials :

­ Particulars Unit FY24 (Actual) FY23(Actual) Opreating Income* Rs. Cr. 28.95 5.36 PAT Rs. Cr. 4.31 (7.30) PAT Margin (%) 14.87 (136.23) Total Debt / Tangible Net Worth Times 0.50 0.48 PBDIT/Interest Times 3.78 (3.75) *Total income equals to Net Interest Income

Status of non-cooperation with previous CRA

­Not Applicable

Any other information

­None.

Applicable Criteria

• Service Sector: https://www.acuite.in/view-rating-criteria-50.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

­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 06 Dec 2023 Bank Guarantee/Letter of Guarantee Short Term 7.50 ACUITE A4 (Reaffirmed & Issuer not co-operating*) Bank Guarantee/Letter of Guarantee Short Term 3.00 ACUITE A4 (Reaffirmed & Issuer not co-operating*) Secured Overdraft Long Term 2.40 ACUITE B+ (Downgraded & Issuer not co-operating* from ACUITE BB- | Stable) Secured Overdraft Long Term 2.25 ACUITE B+ (Downgraded & Issuer not co-operating* from ACUITE BB- | Stable) 07 Sep 2022 Bank Guarantee/Letter of Guarantee Short Term 7.50 ACUITE A4 (Reaffirmed) Bank Guarantee/Letter of Guarantee Short Term 3.00 ACUITE A4 (Reaffirmed) Secured Overdraft Long Term 2.40 ACUITE BB- | Stable (Reaffirmed) Secured Overdraft Long Term 2.25 ACUITE BB- | Stable (Reaffirmed) * The issuer did not co-operate; based on best available information.

­

Annexure - Details of instruments rated

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating Canara Bank Not avl. / Not appl. Bank Guarantee/Letter of Guarantee Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 7.50 Simple ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating* Bank of India Not avl. / Not appl. Bank Guarantee/Letter of Guarantee Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 3.00 Simple ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating* Bank of India Not avl. / Not appl. Secured Overdraft Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 2.40 Simple ACUITE B | Downgraded & Withdrawn | Issuer not co-operating* ( from ACUITE B+ ) Canara Bank Not avl. / Not appl. Secured Overdraft Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 2.25 Simple ACUITE B | Downgraded & Withdrawn | 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 Tejas Chaugule 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.