Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Issuer Rating (IR) 0.00 ACUITE BB+ | Reaffirmed | Issuer not co-operating* -
Total Outstanding Quantum (Rs. Cr) 0.00 - -
Rating Rationale

­Acuité has reaffirmed the long term Issuer Rating (IR) of 'ACUITE BB+' (read as ACUITE double B plus) of AISECT Limited (AL). The rating continues to be flagged as “Issuer Not-Cooperating” and is based on best available information.

About the Company

­Bhopal based AISECT Limited (AL) was incorporated in 2006 by Mr. Siddharth Chaturvedi and Mr. Santosh Choubey. The company is majorly engaged in providing various services such as banking services, management services, general supplies, selling of educational books and also provides coaching and skill training to various aspirants. The company is a part of the AISECT group which is the country’s leading social enterprise working in the areas of skill development, higher education and other technology based services.

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:

­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 rating is based.

Rating Sensitivity

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

Material Covenants
Liquidity Position

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

­Not Applicable
Other Factors affecting Rating
­Not Applicable

Particulars Unit FY 22 (Actual) FY 21 (Actual)
Operating Income Rs. Cr. 104.48 90.46
PAT Rs. Cr. 5.74 3.21
PAT Margin (%) 5.50 3.55
Total Debt/Tangible Net Worth Times 0.15 0.00
PBDIT/Interest Times 30.15 151.85
Status of non-cooperation with previous CRA
­Not Applicable
Any other information
Applicable Criteria
• Service Sector:
• Default Recognition:
• Application Of Financial Ratios And Adjustments:

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


Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook
30 May 2022 Issuer Rating Long Term 0.00 ACUITE BB+(IR) (Downgraded and Issuer not co-operating*)
02 Jun 2021 Issuer Rating Long Term 0.00 ACUITE BBB+(IR) | Stable (Assigned)

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating
Not Applicable Not Applicable Issuer Rating Not Applicable Not Applicable Not Applicable 0.00 Simple ACUITE BB+ | Reaffirmed | Issuer not co-operating*

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