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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 2.00 | Not Applicable | Withdrawn | - |
| Bank Loan Ratings | 6.00 | - | Not Applicable | Withdrawn |
| Total Outstanding | 0.00 | - | - |
| Total Withdrawn | 8.00 | - | - |
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Rating Rationale |
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Acuite has withdrawn its long-term and short-term rating on Rs.8.00 Cr. bank facilities of Goyal International (GI) without assigning any rating as the facility is fully repaid. The rating withdrawal is in accordance with Acuite’s policy on withdrawal of rating as applicable to the respective facility / instrument. The rating is being withdrawn on account of request received from the Company and No Dues Certificate received from the banker. |
| About the Company |
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Punjab based Goyal International, a partnership firm was established by Mr. Ashok Goyal and Mrs. Neeru Goyal in 1990. The firm is engaged in the manufacturing of scaffolding items such as steel ring lock, adjustable screw jack as also auto and tractor parts. The ISO 9001:2015 certified firm exports scaffolding items to U.A.E, Saudi Arabia (Jeddah Daman Kuwait) Egypt, Iraq, Moscow and others |
| Unsupported Rating |
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Not Applicable |
| Analytical Approach |
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Not Applicable |
| Key Rating Drivers |
| Strengths |
| Not Applicable |
| Weaknesses |
| Not Applicable |
| Rating Sensitivities |
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Not Applicable |
| Liquidity Position |
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Not Applicable |
| Outlook: Not Applicable |
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| Other Factors affecting Rating |
| None |
| Particulars | Unit | FY 17 (Actual) | FY 16 (Actual) |
| Operating Income | Rs. Cr. | 33.71 | 33.72 |
| PAT | Rs. Cr. | 0.24 | 0.24 |
| PAT Margin | (%) | 0.70 | 0.70 |
| Total Debt/Tangible Net Worth | Times | 0.83 | 1.40 |
| PBDIT/Interest | Times | 1.76 | 1.87 |
| Status of non-cooperation with previous CRA (if applicable) |
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Not Applicable |
| Any other information |
| None |
| Applicable Criteria |
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• 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 |
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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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