Press Release JAYANT PRINTERY LLP December 16, 2022 Rating Reaffirmed & Withdrawn and Issuer not co-operating

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	14.14	ACUITE B+ | Reaffirmed & Withdrawn | Issuer not co-operating*	-
Bank Loan Ratings	3.86	-	ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
Total Outstanding Quantum (Rs. Cr)	0.00	-	-
Total Withdrawn Quantum (Rs. Cr)	18.00	-	-

Rating Rationale

­Acuité has reaffirmed and withdrawn the long term rating and short term rating of 'ACUITE B+' (read as ACUITE B ‘Plus’) / 'A4' (read as ACUITE A four) on the Rs. 18.00 crore bank facilities of Jayant Printery LLP. The team has received the withdrawal request from the client because the client does not want to continue the rating. A No Objection Certificate (NOC) for the same has been received from the Bank of Maharashtra. The rating withdrawal is in accordance with Acuité’s policy on withdrawal of rating. The rating continues to be flagged as “Issuer Not Cooperating”, based on best available information.

About the Company

Jayant Printery LLP (JPL) was established in 1986 as a partnership firm, wh ich reconstituted in 2014 as Jayant Printery LLP. The firm is promoted by Mr. Chhotubhai Shah and Mr. Shashank Shah and is engaged in the printing of textbooks, diaries, magazines and commercial printing of books, annual reports and calendars. The firm has its manufacturing unit located in Palghar. The firm also provides preprinting and post-printing services.­

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 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.

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 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.­

About the Rated Entity - Key Financials

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

Rating Sensitivity

­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 Acuite to comment upon.

Outlook

­Not Applicable.

Other Factors affecting Rating

­Not Applicable.

Status of non-cooperation with previous CRA

ICRA vide its press release dated 17-11-2022, rated Jayant Printery LLP to ICRA B+/ A4; INC

Any other information

The entity has not provided with the latest NDS despite repeated requests and followups.

Applicable Criteria

• Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.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

­­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

Rating History

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook 02 Nov 2021 Term Loan Long Term 2.14 ACUITE B+ (Downgraded and Issuer not co-operating*) Proposed Bank Facility Short Term 1.86 ACUITE A4 ( Issuer not co-operating*) Bank Guarantee Short Term 2.00 ACUITE A4 ( Issuer not co-operating*) Cash Credit Long Term 12.00 ACUITE B+ (Downgraded and Issuer not co-operating*) 19 Aug 2020 Bank Guarantee Short Term 2.00 ACUITE A4 (Reaffirmed) Proposed Bank Facility Short Term 1.86 ACUITE A4 (Reaffirmed) Term Loan Long Term 2.14 ACUITE BB- | Stable (Reaffirmed) Cash Credit Long Term 12.00 ACUITE BB- | Stable (Reaffirmed) 31 May 2019 Cash Credit Long Term 12.00 ACUITE BB- | Stable (Assigned) Term Loan Long Term 2.90 ACUITE BB- | Stable (Assigned) Bank Guarantee Short Term 1.10 ACUITE A4 (Assigned) Proposed Bank Facility Short Term 2.00 ACUITE A4 (Assigned)

­

Annexure - Details of instruments rated

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating Bank of Maharashtra Not Applicable Bank Guarantee/Letter of Guarantee Not Applicable Not Applicable Not Applicable 2.00 Simple ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating* Bank of Maharashtra Not Applicable Cash Credit Not Applicable Not Applicable Not Applicable 12.00 Simple ACUITE B+ | Reaffirmed & Withdrawn | Issuer not co-operating* Not Applicable Not Applicable Proposed Short Term Bank Facility Not Applicable Not Applicable Not Applicable 1.86 Simple ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating* Bank of Maharashtra Not Applicable Term Loan Not available Not available Not available 2.14 Simple ACUITE B+ | Reaffirmed & Withdrawn | Issuer not co-operating*

Contacts

Analytical	Rating Desk
Pooja Ghosh Vice President-Rating Operations Tel: 022-49294041 pooja.ghosh@acuite.in Swagata Bhattacharjee Management Trainee-Rating Operations Tel: 022-49294065 swagata.bhattacharjee@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.