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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 46.00 | ACUITE B- | Reaffirmed & Withdrawn | Issuer not co-operating* | - |
| Bank Loan Ratings | 20.00 | - | ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating* |
| Total Outstanding | 0.00 | - | - |
| Total Withdrawn | 66.00 | - | - |
| * The issuer did not co-operate; based on best available information. | |||
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Rating Rationale |
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Acuité has reaffirmed and withdrawn its long-term rating of ‘ACUITE B-’ (read as ACUITE B minus) and short-term rating of 'ACUITE A4' (read as ACUITE A Four) on Rs 66.00 crore bank facilities of G R K Theatres Private Limited. |
| About the Company |
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G R K Theatres Private Limited is a Tamil Nadu based entity, incorporated in 1983, promoted by Mr. G R Durairaj. The company engaged in multiple businesses namely authorized dealer for Tata Motors Passenger Vehicles, running 23 theatres in South Arcot district, manufactures packed drinking water and ginger lemon under ‘Rathalaya Food and Beverages’, commercial space rental business at Cuddalore and runs a restaurant at Cuddalore. |
| Unsupported Rating |
| 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. Acuité believes that information risk is a critical component in such ratings, and non co-operation 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: |
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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 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 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: Not Applicable |
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| Other Factors affecting Rating |
| None |
| Particulars | Unit | FY 22 (Actual) | FY 21 (Actual) |
| Operating Income | Rs. Cr. | 55.95 | 61.95 |
| PAT | Rs. Cr. | 0.15 | (4.24) |
| PAT Margin | (%) | 0.27 | (6.84) |
| Total Debt/Tangible Net Worth | Times | (8.46) | (8.21) |
| PBDIT/Interest | Times | 1.26 | 0.59 |
| Status of non-cooperation with previous CRA |
| Not Applicable |
| Any other information |
| None |
| Applicable Criteria |
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• Service Sector: https://www.acuite.in/view-rating-criteria-50.htm • Infrastructure Sector: https://www.acuite.in/view-rating-criteria-51.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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| * The issuer did not co-operate; based on best available information. | |||||||||||||||||||||||||||||||||||||||||||||
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