Press Release April 16, 2025 AMEET ENTERPRISES Rating Withdrawn

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	10.00	Not Applicable | Withdrawn	-
Bank Loan Ratings	115.00	-	Not Applicable | Withdrawn
Total Outstanding	0.00	-	-
Total Withdrawn	125.00	-	-

Rating Rationale

­Acuité has withdrawn its long-term and short-term rating on the Rs. 125.00 Cr. bank facilities of Ameet Enterprises (AE) without assigning any rating. The same is withdrawn without assigning any rating since rated instruments's are repaid and closed. AE had ceased its operations in FY2025.  The rating withdrawal is in accordance with Acuite’s policy on withdrawal of rating as applicable to the respective facility/instrument. The rating is being withdrawn on account of request received from the Company and No Dues Certificate received from the banker.

About the Company

­Established in the year 1964 Ameet Enterprises is engaged in trading of coal and coke, grey fabric, yarn, steel sheet and sponge iron. The firm imports a major share of products which it trades in and sells it primarily to end users. The firm was promoted by Late Mr. Sawarmal Hisaria and presently is being independently managed by Mr. Sangeet Hisaria as its proprietor. Mr. Sangeet Hisaria has a vast experience in trading of coal and coke, grey fabric, yarn, steel sheet and sponge iron among others. However, Ameet Enterprises ceased its operations in FY2025.

Unsupported Rating

­Not applicable.

Analytical Approach

­Not applicable.

Key Rating Drivers

Strengths

­Not applicable.

Weaknesses

­Not applicable.

Rating Sensitivities

­Not applicable.

Liquidity Position

­Not applicable.

Outlook: Not applicable

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Other Factors affecting Rating

­None

Key Financials

Particulars	Unit	FY 24 (Actual)	FY 23 (Actual)
Operating Income	Rs. Cr.	286.47	361.13
PAT	Rs. Cr.	1.46	3.57
PAT Margin	(%)	0.51	0.99
Total Debt/Tangible Net Worth	Times	2.87	0.52
PBDIT/Interest	Times	1.18	1.78

Status of non-cooperation with previous CRA (if applicable)

­Not applicable.

Interaction with Audit Committee anytime in the last 12 months (applicable for rated-listed / proposed to be listed debt securities being reviewed by Acuite)

Not applicable

Any other information

­None

Applicable Criteria

• 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 • Trading Entities: https://www.acuite.in/view-rating-criteria-61.htm

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 www.acuite.in.

Rating History

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook 19 Jan 2024 Letter of Credit Short Term 55.00 ACUITE A3+ (Reaffirmed) Letter of Credit Short Term 45.00 ACUITE A3+ (Reaffirmed) Letter of Credit Short Term 15.00 ACUITE A3+ (Reaffirmed) Cash Credit Long Term 10.00 ACUITE BBB | Stable (Reaffirmed) 18 Nov 2022 Letter of Credit Short Term 35.00 ACUITE A3+ (Reaffirmed) Letter of Credit Short Term 10.00 ACUITE A3+ (Assigned) Letter of Credit Short Term 40.00 ACUITE A3+ (Reaffirmed) Letter of Credit Short Term 15.00 ACUITE A3+ (Reaffirmed) Letter of Credit Short Term 15.00 ACUITE A3+ (Assigned) Cash Credit Long Term 10.00 ACUITE BBB | Stable (Reaffirmed) 07 Sep 2022 Letter of Credit Short Term 35.00 ACUITE A3+ (Upgraded from ACUITE A3) Letter of Credit Short Term 40.00 ACUITE A3+ (Upgraded from ACUITE A3) Letter of Credit Short Term 15.00 ACUITE A3+ (Upgraded from ACUITE A3) Cash Credit Long Term 10.00 ACUITE BBB | Stable (Upgraded from ACUITE BBB- | Stable)

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Annexure - Details of instruments rated

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating Indian Bank Not avl. / Not appl. Cash Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 10.00 Simple Not Applicable|Withdrawn Indian Bank Not avl. / Not appl. Letter of Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 15.00 Simple Not Applicable|Withdrawn UCO Bank Not avl. / Not appl. Letter of Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 55.00 Simple Not Applicable|Withdrawn Union Bank of India Not avl. / Not appl. Letter of Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 45.00 Simple Not Applicable|Withdrawn

Contacts

Mohit Jain Senior Vice President - Rating Operations Moparthi Anuradha Devi Senior Analyst - Rating Operations	Contact details exclusively for investors and lenders Mob: +91 8591310146 Email ID: analyticalsupport@acuite.in

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. Please visit https://www.acuite.in/faqs.htm to refer FAQs on Credit Rating. Note: None of the Directors on the Board of Acuité Ratings & Research Limited are members of any rating committee and therefore do not participate in discussions regarding the rating of any entity.