Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Bank Loan Ratings 1.00 Not Applicable | Withdrawn -
Bank Loan Ratings 14.00 - Not Applicable | Withdrawn
Total Outstanding 0.00 - -
Total Withdrawn 15.00 - -
 
Rating Rationale

­­­Acuité has withdrawn the long term and short term rating on the Rs. 15.00 crore bank facilities of J. K. Electric Contractor (JKEC).
The rating has been withdrawn on Acuite's policy of withdrawal of ratings. The rating has been withdrawn on account of the request received from the company, and the NDC(No Due Certificate) received from the banker. It has been withdrawn without assigning any rating since the loan availed by the company has been repaid.

About the Company
­­JKEC is a Jaipur-based (Rajasthan) proprietorship concern formed in 1981 by Mr. Rameshwar Dayal Khandelwal. JKEC is registered as ‘A’ (highest scale in A to D grade) class approved government electric contractor with Electricity Board of Rajasthan. It executes electric contracts for Jaipur Development Authority (JDA), Rajasthan State Road Development Corporation (RSRDC), Public Works Department (PWD) Rajasthan, Jaipur Vidhut Vitaran Nigam Limited (JVVNL) and Jodhpur Vidhut Vitaran Nigam Limited (JdVVNL). The firm participates in electrical works such as electric wiring in government buildings, street lighting and grid connection up to 220 KVA with or without material.
 
Unsupported Rating
Not Applicable
 
Analytical Approach
­Not Applicable
 
Key Rating Drivers

Strengths
­Not Applicable

Weaknesses
­Not Applicable
Rating Sensitivities
­Not Applicable
 
Liquidity Position
­Not Applicable
 
Outlook: Not Applicable
­
 
Other Factors affecting Rating
None
 

Particulars Unit FY 17 (Actual) FY 16 (Actual)
Operating Income Rs. Cr. 27.08 26.56
PAT Rs. Cr. 1.45 1.39
PAT Margin (%) 5.37 5.24
Total Debt/Tangible Net Worth Times 0.32 0.36
PBDIT/Interest Times 2.28 2.84
Status of non-cooperation with previous CRA (if applicable)
­Not Applicable
 
Any other information
­None
 
Applicable Criteria
• 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
­­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
 

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook
31 Jan 2023 Secured Overdraft Long Term 1.00 ACUITE B+ | Not Applicable (Reaffirmed & Issuer not co-operating*)
Bank Guarantee/Letter of Guarantee Short Term 14.00 ACUITE A4 (Reaffirmed & Issuer not co-operating*)
01 Nov 2021 Bank Guarantee/Letter of Guarantee Short Term 14.00 ACUITE A4 (Downgraded & Issuer not co-operating*)
Secured Overdraft Long Term 1.00 ACUITE B+ (Downgraded & Issuer not co-operating*)
­

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum
(Rs. Cr.)
Complexity Level Rating
Bank of Baroda Not avl. / Not appl. Bank Guarantee/Letter of Guarantee Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 14.00 Simple Not Applicable|Withdrawn
Bank of Baroda Not avl. / Not appl. Secured Overdraft Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 1.00 Simple Not Applicable|Withdrawn

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