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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 7.00 | Not Applicable | Withdrawn | - |
| Total Outstanding | 0.00 | - | - |
| Total Withdrawn | 7.00 | - | - |
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Rating Rationale |
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Acuité has also withdrawn the long-term rating on the Rs.7.00 crore bank facilities of Goldcorp Global Mining Private Limited (GGMPL). The same is withdrawn without assigning any rating as ACUITE has received the NDC from the banker. The rating is being withdrawn on account of the request received from the company and the NDC received from the banker’s as per Acuité’s policy on withdrawal of ratings as applicable to the respective facility/instrument.
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| About Company |
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Rajasthan-based, Goldcorp Global Mining Private Limited (GGMPL) was incorporated in January 2019 as private limited company which is engaged in the business of mining and stone crushing. The company is also engaged into trading of different construction material. The company also provide transportation services for the same product. Company is suppling different type of stone and minerals to L&T and Tata Projects Limited.
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| About the Group |
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Galaxy mining group was established in 2016 by Mr. Deependra Singh Rathore and Mrs. Sashi Singh Rathore. The group currently consist of 3 companies, namely Galaxy Mining & Royalties Private Limited (GMRPL), Galaxy Mining Private Limited (GMPL) and Goldcorp Global Mining Private Limited (GGMPL). The group is mainly engaged in the business of stone mining, trading and supplying of construction materials, toll collection and collection of royalties at precious stones and gypsum mining sites on behalf of the government.
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| Unsupported Rating |
| Not Applicable |
| Analytical Approach |
| Extent of Consolidation |
| Rationale for Consolidation or Parent / Group / Govt. Support |
| Not Applicable
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| 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. | 724.55 | 520.99 |
| PAT | Rs. Cr. | 27.88 | 18.51 |
| PAT Margin | (%) | 3.85 | 3.55 |
| Total Debt/Tangible Net Worth | Times | 1.14 | 1.42 |
| PBDIT/Interest | Times | 5.51 | 3.19 |
| Status of non-cooperation with previous CRA (if applicable) |
| Not Applicable |
| Any Other Information |
| None |
| Applicable Criteria |
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• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm • Consolidation Of Companies: https://www.acuite.in/view-rating-criteria-60.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Service Sector: https://www.acuite.in/view-rating-criteria-50.htm • Trading Entitie: https://www.acuite.in/view-rating-criteria-61.htm |
| Note on Complexity Levels of the Rated Instrument |
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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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| *Annexure 2 - List of Entities (applicable for Consolidation or Parent / Group / Govt. Support) |
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1.Galaxy Mining & Royalties Private Limited (GMRPL) 2.Galaxy Mining Private Limited (GMPL) 3.Goldcorp Global Mining Private Limited (GGMPL) |
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Contacts |
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About Acuité Ratings & Research |
