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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 7.00 | ACUITE B | Downgraded | Issuer not co-operating* | - |
Total Outstanding | 7.00 | - | - |
Total Withdrawn | 0.00 | - | - |
* The issuer did not co-operate; based on best available information. |
Rating Rationale |
Acuité has downgraded the long-term rating to ‘ACUITE B’ (read as ACUITE B) from 'ACUITE B+' (read as ACUITE B plus) on the Rs. 7.00 crore bank facilities of Advanced Enterprises on account of information risk. The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information. |
About the Company |
Established in 2003, Advanced Enterprises is a Haryana-based partnership firm promoted by Mr. Hemant Khera and Mrs. Seema Khera. The firm is engaged in manufacturing of industrial gears and gearboxes. The firm diversified its product line to manufacturing machines for pvc pipes and profiles. The firm has its manufacturing unit located at Bahadurgarh, Haryana with installed capacity of manufacturing 2000 units of gear case per annum and 24 units of pvc pipe machines per annum. |
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. |
Limitation regarding information availability: |
The rating is based on information available from sources other than the issuer/borrower (in the absence of information provided by the issuer/borrower). Acuité endeavored to gather information about the entity/industry from the public domain. Therefore, Acuité cautions lenders and investors regarding the use of such information, on which the indicative credit ratingis 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 |
Particulars | Unit | FY 18 (Provisional) | FY 17 (Actual) |
Operating Income | Rs. Cr. | 4.28 | 4.87 |
PAT | Rs. Cr. | 0.15 | 0.15 |
PAT Margin | (%) | 3.48 | 3.09 |
Total Debt/Tangible Net Worth | Times | 0.48 | 0.77 |
PBDIT/Interest | Times | 6.94 | 5.13 |
Status of non-cooperation with previous CRA |
Not Applicable |
Any other information |
None |
Applicable Criteria |
• Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.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 |
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* The issuer did not co-operate; based on best available information. |
Contacts |
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