Press Release G A RANDERIAN PRIVATE LIMITED October 03, 2022 Rating Reaffirmed and Issuer not co-operating

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	25.00	-	ACUITE A4 | Reaffirmed | Issuer not co-operating*
Total Outstanding Quantum (Rs. Cr)	25.00	-	-
Total Withdrawn Quantum (Rs. Cr)	0.00	-	-

Rating Rationale

­Acuité has reaffirmed the short term rating of ‘ACUITE A4’ (read as ACUITE A four) on the Rs.25.00 crore bank facilities of GA Randerian Private Limited (GARPL). The rating is now flagged as ‘Issuer Not-Cooperating’, based on best available information.

About the Company

­Incorporated in 1942, GARPL is a Kolkata-based company managed by Mr. Shakir Randerian and Ms. Afroze Randerian. GARPL is engaged in blending, branding, export of tea. It has a processing unit in Kidderpore, West Bengal. The company’s main export markets include UAE, Saudi Arabia and USA.

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 noncooperation by the issuer along with an 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

­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 has endeavoured 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 rating is based.

Rating Sensitivities

­No information provided by the issuer / available for Acuité to comment upon.

Material Covenants

­None

Liquidity Position

­No information provided by the issuer / available for Acuité to comment upon.

Outlook

­Not Applicable.

Other Factors affecting Rating

­Not Applicable.

Key Financials:

­The rated entity has not shared the latest financial statements despite repeated requests.

Status of non-cooperation with previous CRA

­None.

Any other information

­Acuité is yet to receive the latest No Default Statement (NDS) from the rated entity, despite repeated requests and follow-ups.

Applicable Criteria

• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Trading Entitie: https://www.acuite.in/view-rating-criteria-61.htm

Note on Complexity Levels of the Rated Instrument

https://www.acuite.in/view-rating-criteria-55.htm­

Rating History

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook 12 Jul 2021 Post Shipment Credit Short Term 10.00 ACUITE A4 (Upgraded from ACUITE D) Proposed Bank Facility Short Term 5.00 ACUITE A4 (Upgraded from ACUITE D) Packing Credit Short Term 10.00 ACUITE A4 (Upgraded from ACUITE D) 24 May 2019 Packing Credit Short Term 7.00 ACUITE D (Downgraded from ACUITE A4+) Post Shipment Credit Short Term 18.00 ACUITE D (Downgraded from ACUITE A4+) 09 Mar 2018 Packing Credit Short Term 7.00 ACUITE A4+ (Reaffirmed) Post Shipment Credit Short Term 18.00 ACUITE A4+ (Reaffirmed)

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Annexure - Details of instruments rated

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Rating Bank of Baroda Not Applicable PC/PCFC Not Applicable Not Applicable Not Applicable 10.00 ACUITE A4 | Reaffirmed | Issuer not co-operating* Bank of Baroda Not Applicable Post Shipment Credit Not Applicable Not Applicable Not Applicable 10.00 ACUITE A4 | Reaffirmed | Issuer not co-operating* Not Applicable Not Applicable Proposed Short Term Bank Facility Not Applicable Not Applicable Not Applicable 5.00 ACUITE A4 | Reaffirmed | Issuer not co-operating*

Contacts

Analytical	Rating Desk
Pooja Ghosh Vice President-Rating Operations Tel: 022-49294041 pooja.ghosh@acuite.in Abhishek Singh Analyst-Rating Operations Tel: 022-49294065 abhishek.s@acuite.in	Varsha Bist Senior Manager-Rating Operations Tel: 022-49294011 rating.desk@acuite.in

About Acuité Ratings & Research

Acuité is a full-service Credit Rating Agency registered with the Securities & Exchange Board of India (SEBI). The company received RBI Accreditation as an External Credit Assessment Institution (ECAI) for Bank Loan Ratings under BASEL-II norms in the year 2012. Acuité has assigned ratings to various securities, debt instruments and bank facilities of entities spread across the country and across a wide cross section of industries. It has its Registered and Head Office in Kanjurmarg, Mumbai. Disclaimer: An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy, sell or hold any security. Ratings assigned by Acuité are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité, in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind, arising from the use of its ratings. Ratings assigned by Acuité are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité.