* The issuer did not co-operate; based on best available information.
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 downgraded its long-term rating to 'ACUITE D' (read as ACUITE D) from 'ACUITE B-' (read as ACUITE B minus) on the Rs.37.60 Cr. bank facilities of 3B Films Limited (Erstwhile 3B Films Private Limited) on the account of information risk.
Acuité has downgrade the proposed long-term rating to ‘ACUITE C’ (read as ACUITE C) from ‘ACUITE B-’ (read as ACUITE B minus) on the Rs.1.40 Cr. bank facilities of 3B Films Limited (Erstwhile 3B Films Private Limited) on the account of information risk.
The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information.
Rationale for Downgrade
The rating downgrade is on account of delays in debt servicing being reflected in the CIC report, the latest being for the month of May 2026.
About the Company
Incorporated in 2014, 3B Films Limited (Erstwhile 3B Films Private Limited) is a Gujarat-based company engaged in the manufacturing of Cast Polypropylene (CPP) films used in flexi packaging. The company is promoted by Mr. Ashokbhai Dhanjibhai Babariya, Mr. Mukesh Dhanjibhai Babariya, Mr Nabil Ansari, Mr. Mital Dipen Devani, Mr. Mithil Ashokkumar Babariya, Mr. Dishank Nitin Babariya and Mr. Abhishek Ileshkumar Shah.
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 non-cooperation by the issuer along with 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
Rating Sensitivity
Potential triggers (individual or collective) for an upward rating action:
"No information provided by the issuer / available for Acuite to comment upon."
Potential triggers (individual or collective) for a downward rating action:
"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."
ACUITE B-
(Downgraded & Issuer not co-operating* from ACUITE B)
Cash Credit
Long Term
10.00
ACUITE B-
(Downgraded & Issuer not co-operating* from ACUITE B)
Term Loan
Long Term
15.90
ACUITE B-
(Downgraded & Issuer not co-operating* from ACUITE B)
Proposed Long Term Bank Facility
Long Term
1.40
ACUITE B-
(Downgraded & Issuer not co-operating* from ACUITE B)
23 Sep 2024
Proposed Long Term Bank Facility
Long Term
1.40
ACUITE B
(Downgraded & Issuer not co-operating* from ACUITE B+)
Term Loan
Long Term
11.70
ACUITE B
(Downgraded & Issuer not co-operating* from ACUITE B+)
Term Loan
Long Term
15.90
ACUITE B
(Downgraded & Issuer not co-operating* from ACUITE B+)
Cash Credit
Long Term
10.00
ACUITE B
(Downgraded & Issuer not co-operating* from ACUITE B+)
29 Jun 2023
Cash Credit
Long Term
10.00
ACUITE B+
(Reaffirmed & Issuer not co-operating*)
Term Loan
Long Term
15.90
ACUITE B+
(Reaffirmed & Issuer not co-operating*)
Term Loan
Long Term
11.70
ACUITE B+
(Reaffirmed & Issuer not co-operating*)
Proposed Long Term Bank Facility
Long Term
1.40
ACUITE B+
(Reaffirmed & Issuer not co-operating*)
* The issuer did not co-operate; based on best available information.
Lender’s Name
ISIN
Facilities
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
CENTRAL BANK OF INDIA
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
10.00
Simple
ACUITE D | Downgraded | Issuer not co-operating* ( from ACUITE B- )
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.
1.40
Simple
ACUITE C | Downgraded | Issuer not co-operating* ( from ACUITE B- )
CENTRAL BANK OF INDIA
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
15.90
Simple
ACUITE D | Downgraded | Issuer not co-operating* ( from ACUITE B- )
Bank Of Baroda
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
11.70
Simple
ACUITE D | Downgraded | Issuer not co-operating* ( from ACUITE B- )
* The issuer did not co-operate; based on best available information.
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.
