Press Release AESTHETICS EXPORTS LLP April 28, 2022 Rating Reaffirmed & Withdrawn and Issuer not co-operating

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	7.50	-	ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
Total Outstanding Quantum (Rs. Cr)	0.00	-	-
Total Withdrawn Quantum (Rs. Cr)	7.50	-	-

Rating Rationale

­Acuité has reaffirmed & withdrawn its short-term rating of ‘ACUITE A4’ (read as ACUITE A four) to the Rs. 7.50 Cr bank facilities of Aesthetic Exports LLP (AELLP) . The rating withdrawal is in accordance with the Acuité’s policy on withdrawal of rating. This rating is an indicative rating and is based on the best available information. The rating is being withdrawn on account of request received from the company and NOC received from the banker.

About the Company

­Delhi-based, AELLP was originally established as a proprietorship firm Aesthetics in 1996 by Mrs. Rohini Gandhi. The constitution of the firm has been changed to limited liability partnership in 2018. Currently, the operations of the firm are looked after by Mrs. Rohini Gandhi and Mr. Divyesh Gandhi. AELLP is engaged in the manufacturing of women readymade garments for companies like Monsoon accessorize (UK), John Lewis partnership LLP (UK), and other companies. AELLP has three manufacturing facilities, of which two are located in Delhi and one in Faridabad.

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. This rating is therefore being flagged as “Issuer notcooperating”, in line with prevailing SEBI regulations and Acuité’s policies.

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 endeavoured 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 ratings based.

About the Rated Entity - Key Financials

­The rated entity has not shared the latest financial statements despite repeated requests.

Rating Sensitivity

­No information provided by the issuer / available for Acuite to comment upon.

Material Covenants

­None.

Liquidity Position

­No information provided by the issuer / available for Acuite to comment upon.

Outlook

­Not Applicable.

Status of non-cooperation with previous CRA

­None.

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

https://www.acuite.in/view-rating-criteria-55.htm

Rating History

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook 09 Dec 2021 Packing Credit Short Term 7.50 ACUITE A4 (Downgraded and Issuer not co-operating*) 14 Sep 2020 Packing Credit Short Term 7.50 ACUITE A4+ (Reaffirmed) 19 Jul 2019 Packing Credit Short Term 4.90 ACUITE A4+ (Assigned) Proposed Bank Facility Short Term 2.60 ACUITE A4+ (Assigned)

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Annexure - Details of instruments rated

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Rating Central Bank of India Not Applicable PC/PCFC Not Applicable Not Applicable Not Applicable 7.50 ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*

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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.