­HPPL is a Hyderabad based company incorporated in August 1985. The company is promoted by Mrs. Penumatsa Sarala Devi who was the Managing director and Mr. Bollu Vamsi Krishna as the other director. After the resignation of both the directors, Mr. Suresh babu chava who is the present Managing director and is involved in the day-to-day operations of the company has taken over the ownership of the company as on February, 2021 along with other directors. The other directors include Mrs. Sravani priya chava and Mr. Santosh Kumar. The company is engaged in the manufacture of pharmaceutical products like, generic syrups, capsules, tablets, liquid oral formulations, antibiotics and other syrups and suspensions for human treatment.

­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-cooperation 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.

­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 rating is based.

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

­Not Applicable

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

­Not Applicable

­Not Applicable

­Not Applicable

None

­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.