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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 7.00 | Not Applicable | Withdrawn | - |
Bank Loan Ratings | 13.00 | - | Not Applicable | Withdrawn |
Total Outstanding | 0.00 | - | - |
Total Withdrawn | 20.00 | - | - |
Rating Rationale |
Acuité has withdrawn its long-term rating of Rs.7.00 Cr. without assigning any rating and also withdrawn the short-term rating of Rs. 13.00 Cr. without assigning any rating forr BMSS Steel Industries Private Limited(BSIPL).
The rating has been withdrawn on Acuite's policy of withdrawal of ratings as applicable to the respective facility / instrument. The rating has been withdrawn on account of the request received from the company, and the NDC received from the banker. Since the loan availed by the company has been repaid, the rating has been withdrawn. |
About the Company |
Incorporated in 1987, BMSS Steel Industries Private Limited (BSIPL) is a Maharashtra-based company promoted by Mr. Himatlal Garodia and Mr. Rajiv Garodia. The company is engaged in the trading of specialty steel used for manufacturing automobile components such as crankshafts, axle steering rods, to name a few. Since April 2017, the company has also begun the processing of steel. Further, BMSS has its processing unit in Kalamboli (Navi Mumbai) with a capacity of 400 tonnes per month.
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Unsupported Rating |
Not Applicable |
Analytical Approach |
Not Applicable
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Key Rating Drivers |
Strengths |
Not Applicable
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Weaknesses |
Not Applicable
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Rating Sensitivities |
Not Applicable
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Liquidity Position |
Not Applicable
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Outlook |
Not Applicable
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Other Factors affecting Rating |
None
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Particulars | Unit | FY 22 (Actual) | FY 21 (Actual) |
Operating Income | Rs. Cr. | 55.00 | 36.98 |
PAT | Rs. Cr. | 0.73 | 0.46 |
PAT Margin | (%) | 1.32 | 1.24 |
Total Debt/Tangible Net Worth | Times | 0.00 | 0.00 |
PBDIT/Interest | Times | 1.58 | 1.42 |
Status of non-cooperation with previous CRA (if applicable) |
Not Applicable
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Any other information |
None
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Applicable Criteria |
• Default Recognition :- https://www.acuite.in/view-rating-criteria-52.htm • Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.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
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Contacts |
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About Acuité Ratings & Research |
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