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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 24.00 | ACUITE D | Reaffirmed | Issuer not co-operating* | - |
Total Outstanding | 24.00 | - | - |
Total Withdrawn | 0.00 | - | - |
* The issuer did not co-operate; based on best available information. |
Rating Rationale |
Acuité has reaffirmed the long-term rating of ‘ACUITE D’ (read as ACUITE D) on the Rs. 24.00 crore bank facilities of Chanchal Infrastructure Private Limited (CIPL). The rating continues to be flagged as “Issuer NotCooperating” and is based on the best available information. |
About the Company |
Chanchal Infrastructure Private Limited (CIPL) was incorporate in the year 2010, by Mr. Kenon Pankaj Patel, Mr. Kulin Pankaj Patel and Rinkal Patel. Chanchal group has presence in the real estate market from past 4 decades and engaged in the construction of residential and commercial projects in Gujarat. |
Unsupported Rating |
Not Applicable |
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. |
Limitation regarding information availability |
Rating Sensitivity |
"No information provided by the issuer / available for Acuite to comment upon." |
Liquidity Position |
"No information provided by the issuer / available for Acuite to comment upon." |
Outlook |
Not Applicable |
Other Factors affecting Rating |
None |
Particulars | Unit | FY 24 (Actual) | FY 23 (Actual) |
Operating Income | Rs. Cr. | 15.65 | 10.97 |
PAT | Rs. Cr. | 0.92 | 1.11 |
PAT Margin | (%) | 5.89 | 10.11 |
Total Debt/Tangible Net Worth | Times | 0.69 | 1.30 |
PBDIT/Interest | Times | 3.27 | 2.69 |
Status of non-cooperation with previous CRA |
Not Applicable |
Any other information |
None |
Applicable Criteria |
• Infrastructure Sector: https://www.acuite.in/view-rating-criteria-51.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 |
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* The issuer did not co-operate; based on best available information. |
Contacts |
About Acuité Ratings & Research |
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