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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 12.00 | - | ACUITE A4 | Reaffirmed | Issuer not co-operating* |
| Total Outstanding | 12.00 | - | - |
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Rating Rationale |
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Acuité has reaffirmed the short term rating of ‘ACUITE A4’ (read as ACUITE A four) on the Rs. 12.00 crore bank facilities of Goldstar International Private Limited. The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information. |
| About the Company |
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Goldstar International Private Limited (GIPL), was incorporated in the year 2009 by Ms. Poly Saha, Mr. Kumaresh Chandra Paul, Mr. Swapan Kumar Saha and Ms. Gouri Paul. The company is into trading of raw cotton and cotton yarn and derives around 70 per cent of its revenues from trading activities. GIPL is also engaged in manufacturing of fabric from cotton yarn and manufacturing activities contribute to around the balance 30 percent of their revenues. The company has an installed capacity of 300 tons per month with its manufacturing facilities in Kolkata. The company exports raw cotton, cotton yarn to Bangladesh. In the domestic market, the company sells to local players in Kolkata, West Bengal. |
| Unsupported Rating |
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Not Applicable |
| Non-cooperation by the issuer/borrower: |
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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: |
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The rating is based on information available from sources other than the issuer/borrower (in the absence of information provided by the issuer/borrower). Acuité endeavored to gather information about the entity/industry from the public domain. Therefore, Acuité cautions lenders and investors regarding the use of such information, on which the indicative credit ratingis based. |
| Rating Sensitivity |
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"No information provided by the issuer / available for Acuite to comment upon." |
| Liquidity Position |
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"No information provided by the issuer / available for Acuite to comment upon." |
| Outlook |
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Not Applicable |
| Other Factors affecting Rating |
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None |
| Particulars | Unit | FY 23 (Actual) | FY 22 (Actual) |
| Operating Income | Rs. Cr. | 205.55 | 229.36 |
| PAT | Rs. Cr. | 2.38 | 3.66 |
| PAT Margin | (%) | 1.16 | 1.59 |
| Total Debt/Tangible Net Worth | Times | 1.24 | 1.97 |
| PBDIT/Interest | Times | 2.68 | 3.29 |
| Status of non-cooperation with previous CRA |
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Not Applicable |
| Any other information |
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None |
| Applicable Criteria |
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• Trading Entities: https://www.acuite.in/view-rating-criteria-61.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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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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