Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Bank Loan Ratings 171.00 Not Applicable | Withdrawn -
Total Outstanding 0.00 - -
Total Withdrawn 171.00 - -
 
Rating Rationale

­Acuite has withdrawn its long-term rating on Rs.171 Cr. bank facilities of Birla Sanskriti Trust(BST). The rating withdrawal is in accordance with Acuite’s policy on withdrawal of rating. The rating is being withdrawn on account of request received from the Company and No Dues Certificate received from the banker.


About the Company

­Kolkata based, Birla Sanskriti Trust (BST), was formed in May 1957 and promoted by Late Mr. B. K. Birla. The trust is engaged in running educational institutions for more than six decades. It runs six schools in Kolkata namely Ashok Hall Girls Higher Secondary School, GD Birla Centre for Education, Mahadevi Birla Shishu Bihar, Little Gems Play School, Little Steps School, and Birla Gyan Mandir. Ms. Manjushree Khaitan, a key person in the B K Birla Group, is one of the Trustees, along with Mr. R P Pansari, Mr. Gautam Ganguly and Mr. Ravindra Singh Thapa.

 
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
­
 
Other Factors affecting Rating
­None
 

Particulars Unit FY 23 (Actual) FY 22 (Actual)
Operating Income Rs. Cr. 137.18 94.77
PAT Rs. Cr. (8.37) (7.53)
PAT Margin (%) (6.10) (7.95)
Total Debt/Tangible Net Worth Times 5.22 4.31
PBDIT/Interest Times 0.70 0.75
Status of non-cooperation with previous CRA (if applicable)
­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
13 Feb 2023 Proposed Long Term Bank Facility Long Term 0.49 ACUITE BBB- | Stable (Assigned)
Term Loan Long Term 170.51 ACUITE BBB- | Stable (Assigned)
­

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum
(Rs. Cr.)
Complexity Level Rating
Not Applicable Not avl. / Not appl. Proposed Long Term Bank Facility Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 0.49 Simple Not Applicable|Withdrawn
Indusind Bank Ltd Not avl. / Not appl. Term Loan Not avl. / Not appl. Not avl. / Not appl. 30 Dec 2023 170.51 Simple Not Applicable|Withdrawn
­

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