Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Bank Loan Ratings 12.10 ACUITE D | Reaffirmed | Issuer not co-operating* -
Bank Loan Ratings 0.40 - ACUITE D | Reaffirmed | Issuer not co-operating*
Total Outstanding 12.50 - -
 
Rating Rationale

­Acuité has reaffirmed the long-term rating of ‘ACUITE D’ (read as ACUITE D) and short term rating of ‘ACUITE D’ (read as ACUITE D) on the Rs. 12.50 crore bank facilities of Anandalok Hospital (AH). The rating continues to be flagged as “Issuer Not Cooperating” and is based on the best available information.


About the Company

­Anandalok Hospita (­AH), established in 1981, is a multi speciality hospital that offers a range of healthcare services including neuro surgery, oncology, urology and orthopaedics, among others. The hospital has 350 beds and is run by a trust led by Mr. Deo Kumar Saraf (Chairman). The trust runs six hospitals in four located at Kolkata, one at Baduria and the other at Ranigunj apart from a diagnostic center at Kolkata. It also carries out charitable activities for the economically weaker sections of society.

 
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.

 
All Covenants

­Not Applicable.

 
Liquidity Position

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

 
Outlook

­­Not Applicable.

 
Other Factors affecting Rating

­­Not Applicable.

 

Particulars Unit FY 17 (Actual) FY 16 (Actual)
Operating Income Rs. Cr. 59.72 59.68
PAT Rs. Cr. (8.97) 5.34
PAT Margin (%) (15.03) 8.95
Total Debt/Tangible Net Worth Times 0.71 0.48
PBDIT/Interest Times (0.61) 3.87
Status of non-cooperation with previous CRA

­­Not Applicable.

 
Any other information

­None.

 
Applicable Criteria
• Service Sector: https://www.acuite.in/view-rating-criteria-50.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

­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.

 

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook
15 Sep 2022 Bank Guarantee Short Term 0.40 ACUITE D ( Issuer not co-operating*)
Term Loan Long Term 5.10 ACUITE D ( Issuer not co-operating*)
Cash Credit Long Term 7.00 ACUITE D ( Issuer not co-operating*)
17 Jun 2021 Bank Guarantee Short Term 0.40 ACUITE D ( Issuer not co-operating*)
Term Loan Long Term 5.10 ACUITE D ( Issuer not co-operating*)
Cash Credit Long Term 7.00 ACUITE D ( Issuer not co-operating*)
23 Mar 2020 Term Loan Long Term 5.10 ACUITE D (Downgraded and Issuer not co-operating*)
Bank Guarantee Short Term 0.40 ACUITE D (Downgraded and Issuer not co-operating*)
Cash Credit Long Term 7.00 ACUITE D (Downgraded and Issuer not co-operating*)
26 Feb 2020 Cash Credit Long Term 7.00 ACUITE B+ (Issuer not co-operating*)
Term Loan Long Term 5.10 ACUITE B+ (Issuer not co-operating*)
Bank Guarantee Short Term 0.40 ACUITE A4 (Issuer not co-operating*)
­

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum
(Rs. Cr.)
Complexity Level Rating
Punjab National Bank Not Applicable Bank Guarantee/Letter of Guarantee Not Applicable Not Applicable Not Applicable 0.40 Simple ACUITE D | Reaffirmed | Issuer not co-operating*
Punjab National Bank Not Applicable Cash Credit Not Applicable Not Applicable Not Applicable 7.00 Simple ACUITE D | Reaffirmed | Issuer not co-operating*
Punjab National Bank Not Applicable Term Loan Not available Not available Not available 5.10 Simple ACUITE D | Reaffirmed | Issuer not co-operating*

Contacts




About Acuité Ratings & Research

© Acuité Ratings & Research Limited. All Rights Reserved.www.acuite.in