Press Release

Press Release

November 03, 2025

SPINTEX JUTE INDIA PRIVATE LIMITED
Rating Withdrawn

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	10.50	Not Applicable \| Withdrawn	-
Total Outstanding	0.00	-	-
Total Withdrawn	10.50	-	-

Rating Rationale

Acuité has withdrawn its long-term rating on the Rs. 10.50 Cr. bank loan facilities of Spintex Jute India Private Limited (SJIPL) without assigning any rating as the instrument were proposed.
The rating is being withdrawn on account of the request received from the company.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

Spintex Jute India Private Limited (SJIPL) incorporated in 2004 based in Kolkata, Mr. Rabi Sankar Ghosh, Mr. Surendra Kumar Agarwal and Mr. Sunil Jain, Spintex Jute India Private Limited (SJIPL) is engaged in trading of thermoware disposable utensils. The directors of SJIPL are also associated as directors in Sree Durga Fibre Products Private Limited (SDFPPL), a company engaged in the manufacturing of jute yarn, twines, ropes and thermoware disposable utensils. Thermoware disposable utensils traded by SJIPL are supplied entirely by SDFPPL. SJIPL is setting up a unit for weaving of Hessian fabric with installed capacity of 2400 MT per annum in 24 Parganas, West Bengal. Major raw material jute yarn used for manufacturing hessian fabric will be entirely supplied by SDFPPL.

Unsupported Rating

Not Applicable

Analytical Approach

Not Applcaible

Key Rating Drivers

Strengths

Not Applcaible

Weaknesses

Not Applcaible

Rating Sensitivities

Not Applcaible

Liquidity Position

Not Applcaible

Outlook: Not Applicable

Other Factors affecting Rating

None

Key Financials

Particulars	Unit	FY 24 (Actual)	FY 23 (Actual)
Operating Income	Rs. Cr.	32.35	28.61
PAT	Rs. Cr.	0.46	0.32
PAT Margin	(%)	1.42	1.10
Total Debt/Tangible Net Worth	Times	1.06	1.21
PBDIT/Interest	Times	3.40	3.53

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
• Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.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
23 May 2025	Proposed Long Term Loan	Long Term	7.50	ACUITE B (Downgraded & Issuer not co-operating* from ACUITE B+)
23 May 2025	Proposed Cash Credit	Long Term	3.00	ACUITE B (Downgraded & Issuer not co-operating* from ACUITE B+)
26 Feb 2024	Proposed Long Term Loan	Long Term	7.50	ACUITE B+ (Reaffirmed & Issuer not co-operating*)
26 Feb 2024	Proposed Cash Credit	Long Term	3.00	ACUITE B+ (Reaffirmed & Issuer not co-operating*)
01 Dec 2022	Proposed Long Term Loan	Long Term	7.50	ACUITE B+ (Reaffirmed & Issuer not co-operating*)
01 Dec 2022	Proposed Cash Credit	Long Term	3.00	ACUITE B+ (Reaffirmed & Issuer not co-operating*)

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.	3.00	Simple	Not Applicable\|Withdrawn
Not Applicable	Not avl. / Not appl.	Proposed Long Term Loan	Not avl. / Not appl.	Not avl. / Not appl.	Not avl. / Not appl.	7.50	Simple	Not Applicable\|Withdrawn

Contacts

Mohit Jain
Chief Analytical Officer - Rating Operations

Abhishek Singh
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.