Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
Rating Rationale
Acuite has withdrawn its long-term rating on Rs. 5.50 Cr. bank facilities and the short-term rating on Rs. 47.64 Cr. bank facilities of Akshat Plastics Private Limited without assigning any rating as the instrument is fully repaid. The rating is being withdrawn on account of request received from the issuer, satisfaction of index of charges and No Dues Certificate (NDC) received from the lender.
Acuite has withdrawn its long-term rating on Rs. 0.92 Cr. bank facilities of Akshat Plastics Private Limited without assigning any rating as it is a proposed facility. The rating is being withdrawn on account of request received from the issuer.
The rating withdrawal is in accordance with Acuite’s policy on withdrawal of ratings as applicable to the respective facility / instrument.
About the Company
Akshat Plastics Private Limited is a company that was incorporated in the year 2003. The current directors of the company are Mr. Brij Mohan Gupta, Mr. Rekha Gupta, Mr. Akshat Gupta and Mr. Anish Gupta. The company is based out of Delhi. The company is in the trading of various polymers and plastic raw materials such as PVC resins, ethylene-vinyl acetate (EVA), foam, PVC paste resins, plasticizers, plastic chemicals, and plastic granule.
Unsupported Rating
Not Applicable
Analytical Approach
Not Applicable
Key Rating Drivers
Strengths
Not Applicable
Weaknesses
Not Applicable
Liquidity Position
Not Applicable
Outlook
Not Applicable
Other Factors affecting Rating
None
Particulars
Unit
FY 25 (Actual)
FY 24 (Actual)
Operating Income
Rs. Cr.
174.86
208.80
PAT
Rs. Cr.
3.32
(4.14)
PAT Margin
(%)
1.90
(1.98)
Total Debt/Tangible Net Worth
Times
1.19
0.97
PBDIT/Interest
Times
3.05
(0.96)
Status of non-cooperation with previous CRA (if applicable)
ACUITE A4+
(Reaffirmed & Issuer not co-operating*)
Letter of Credit
Short Term
32.64
ACUITE A4+
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
5.50
ACUITE BB
(Downgraded & Issuer not co-operating* from ACUITE BB+ | Stable)
Proposed Long Term Bank Facility
Long Term
0.92
ACUITE BB
(Downgraded & Issuer not co-operating* from ACUITE BB+ | Stable)
30 May 2024
Letter of Credit
Short Term
32.64
ACUITE A4+
(Reaffirmed)
Letter of Credit
Short Term
15.00
ACUITE A4+
(Reaffirmed)
Cash Credit
Long Term
5.50
ACUITE BB+ | Stable
(Reaffirmed)
Proposed Long Term Bank Facility
Long Term
0.92
ACUITE BB+ | Stable
(Reaffirmed)
28 Feb 2024
Letter of Credit
Short Term
32.00
ACUITE A4+
(Downgraded & Issuer not co-operating* from ACUITE A3)
Letter of Credit
Short Term
15.00
ACUITE A4+
(Downgraded & Issuer not co-operating* from ACUITE A3)
Cash Credit
Long Term
5.50
ACUITE BB+
(Downgraded & Issuer not co-operating* from ACUITE BBB- | Stable)
Proposed Long Term Bank Facility
Long Term
1.56
ACUITE BB+
(Downgraded & Issuer not co-operating* from ACUITE BBB- | Stable)
Lender’s Name
ISIN
Facilities
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
State Bank of India
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
5.50
Simple
ACUITE Not Applicable | Withdrawn
State Bank of India
Not avl. / Not appl.
Letter of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
32.64
Simple
ACUITE Not Applicable | Withdrawn
CITI Bank
Not avl. / Not appl.
Letter of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
15.00
Simple
ACUITE Not Applicable | Withdrawn
Not Applicable
Not avl. / Not appl.
Proposed Long Term Bank Facility
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
0.92
Simple
ACUITE Not Applicable | Withdrawn
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
Contacts
List of instruments and names of regulators of the instruments
