Acuité has withdrawn its long-term rating of Rs. 117.43 Cr. on the bank loan facilities of Saifco Cements Private Limited (SCPL) without assigning any rating as the instrument is fully repaid. The rating is being withdrawn on account of the request received from the company and No Due Certificate received from the banker.
Further, Acuité has withdrawn its long-term rating of Rs. 3.57 Cr. on the bank loan facilities of Saifco Cements Private Limited (SCPL) without assigning any rating as it was a proposed facility. The rating is being withdrawn on account of the request received from the company.
The rating withdrawal is in accordance with Acuité's policy on withdrawal of rating as applicable to the respective facility / instrument.
About the Company
Based in Jammu & Kashmir, Saifco Cements Private Limited is engaged in manufacturing cement and cement products. The company was incorporated in 1997. Currently the company is managed by Mr. Suhail Manzoor Guna, Mr. Raghavpat Singhania, Mr. Madhavkrishna Singhania, Mr. Dawood Altaf Guna and Mr. Amit Kothari.
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
Other Factors affecting Rating
None
Particulars
Unit
FY 24 (Actual)
FY 23 (Actual)
Operating Income
Rs. Cr.
96.35
109.71
PAT
Rs. Cr.
9.09
2.43
PAT Margin
(%)
9.44
2.21
Total Debt/Tangible Net Worth
Times
(5.04)
(3.87)
PBDIT/Interest
Times
1.92
1.32
Status of non-cooperation with previous CRA (if applicable)
