* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
Rating Rationale
Acuité has reaffirmed the long-term rating of ‘ACUITE C’ (read as ACUITE C) and the short term rating of ‘ACUITE A4’ (read as ACUITE A four) on the Rs. 95.00 crore bank facilities of D D Builders Limited (DDBL). The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information.
About the Company
Incorporated in 1994 by Agrawal family, D D Builders Limited (DDBL) is engaged in irrigation contracts and construction of dams, canals, bridges primarily in Odisha. The company is registered as a superclass contractor with Department of Water Resources, Odisha. Currently, the operations are headed by Mr. Suubrat Agarwal, Ms. Krishna Agarwal and Mr. Chirag Agarwal.
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. 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
Rating Sensitivity
Potential triggers (individual or collective) for an upward rating action:
Not Applicable
Potential triggers (individual or collective) for a downward rating action:
Not Applicable
Liquidity Position
"No information provided by the issuer / available for Acuite to comment upon."
ACUITE A4
(Downgraded & Issuer not co-operating* from ACUITE A4+)
Proposed Bank Guarantee
Short Term
60.00
ACUITE A4
(Downgraded & Issuer not co-operating* from ACUITE A4+)
Cash Credit
Long Term
15.00
ACUITE C
(Downgraded & Issuer not co-operating* from ACUITE BB)
Proposed Cash Credit
Long Term
5.00
ACUITE C
(Downgraded & Issuer not co-operating* from ACUITE BB)
22 Aug 2024
Bank Guarantee (BLR)
Short Term
15.00
ACUITE A4+
(Reaffirmed & Issuer not co-operating*)
Proposed Bank Guarantee
Short Term
60.00
ACUITE A4+
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
15.00
ACUITE BB
(Downgraded & Issuer not co-operating* from ACUITE BB+)
Proposed Cash Credit
Long Term
5.00
ACUITE BB
(Downgraded & Issuer not co-operating* from ACUITE BB+)
25 May 2023
Bank Guarantee (BLR)
Short Term
15.00
ACUITE A4+
(Downgraded & Issuer not co-operating* from ACUITE A3+)
Proposed Bank Guarantee
Short Term
60.00
ACUITE A4+
(Downgraded & Issuer not co-operating* from ACUITE A3+)
Cash Credit
Long Term
15.00
ACUITE BB+
(Downgraded & Issuer not co-operating* from ACUITE BBB | Stable)
Proposed Cash Credit
Long Term
5.00
ACUITE BB+
(Downgraded & Issuer not co-operating* from ACUITE BBB | Stable)
* The issuer did not co-operate; based on best available information.
Lender’s Name
ISIN
Facilities
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
Punjab National Bank
Not avl. / Not appl.
Bank Guarantee (BLR)
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
15.00
Simple
ACUITE A4 | Reaffirmed | Issuer not co-operating*
Punjab National Bank
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
15.00
Simple
ACUITE C | Reaffirmed | Issuer not co-operating*
Not Applicable
Not avl. / Not appl.
Proposed Bank Guarantee
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
60.00
Simple
ACUITE A4 | Reaffirmed | Issuer not co-operating*
Not Applicable
Not avl. / Not appl.
Proposed Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
5.00
Simple
ACUITE C | Reaffirmed | Issuer not co-operating*
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
