Press Release January 09, 2024 KALINAGAR TEA AND AGRO CO. PRIVATE LIMITED Rating Withdrawn

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	11.02	Not Applicable | Withdrawn	-
Bank Loan Ratings	0.20	-	Not Applicable | Withdrawn
Total Outstanding	0.00	-	-
Total Withdrawn	11.22	-	-

Rating Rationale

The long term and short term rating on the Rs.11.22 crore of Kalinagar Tea and Agro Co. Private Limited (KTAPL) has been withdrawn by Acuite without assigning any rating as the instrument is fully repaid. The rating is being withdrawn on account of the request received from the company and the NDC received from the banker’s as per Acuité’s policy on withdrawal of ratings as applicable to the respective facility / instrument.

About the Company

­­Kalinagar Tea & Agro Co. Private Limited (KTACPL) was incorporated in the year 2014. The company is mainly into processing of tea located in Siliguri Darjeeling. The company generally follows CTC process, i.e. crush-tear-curl process. The company is promoted by Mr. Shambhu Kumar Agarwal, Mr. Vikas Agarwal, Ms. Prity Agarwal and Mr. Vivek Agarwal.

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

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About the Rated Entity - Key Financials

The rated entity has not shared the latest financial statement for Acuite to comment.

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 .

Rating History

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook 25 Oct 2023 Term Loan Long Term 3.25 ACUITE B+ ( Issuer not co-operating*) Bank Guarantee Short Term 0.20 ACUITE A4 ( Issuer not co-operating*) Proposed Long Term Loan Long Term 2.25 ACUITE B+ ( Issuer not co-operating*) Term Loan Long Term 1.02 ACUITE B+ ( Issuer not co-operating*) Cash Credit Long Term 4.50 ACUITE B+ ( Issuer not co-operating*) 10 Aug 2022 Term Loan Long Term 3.25 ACUITE B+ ( Issuer not co-operating*) Term Loan Long Term 1.02 ACUITE B+ ( Issuer not co-operating*) Cash Credit Long Term 4.50 ACUITE B+ ( Issuer not co-operating*) Bank Guarantee Short Term 0.20 ACUITE A4 ( Issuer not co-operating*) Proposed Long Term Loan Long Term 2.25 ACUITE B+ ( Issuer not co-operating*) 12 May 2021 Proposed Long Term Loan Long Term 2.25 ACUITE B+ (Issuer not co-operating*) Term Loan Long Term 3.25 ACUITE B+ (Issuer not co-operating*) Cash Credit Long Term 4.50 ACUITE B+ (Issuer not co-operating*) Bank Guarantee Short Term 0.20 ACUITE A4 (Issuer not co-operating*) Term Loan Long Term 1.02 ACUITE B+ (Issuer not co-operating*)

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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 Baroda Not Applicable Bank Guarantee/Letter of Guarantee Not Applicable Not Applicable Not Applicable 0.20 Simple Not Applicable|Withdrawn Bank of Baroda Not Applicable Cash Credit Not Applicable Not Applicable Not Applicable 4.50 Simple Not Applicable|Withdrawn Not Applicable Not Applicable Proposed Long Term Loan Not Applicable Not Applicable Not Applicable 2.25 Simple Not Applicable|Withdrawn Bank of Baroda Not Applicable Term Loan Not available Not available Not available 3.25 Simple Not Applicable|Withdrawn Bank of Baroda Not Applicable Term Loan Not available Not available Not available 1.02 Simple Not Applicable|Withdrawn

Contacts

Analytical Details	Contact Details
Mohit Jain Senior Vice President - Rating Operations Tel: 022–49294017 mohit.jain@acuite.in Abhishek Singh Analyst - Rating Operations Tel: 022-49294065 abhishek.s@acuite.in	Contact details exclusively for investors and lenders Mob: +91 8591310146 Email ID: analyticalsupport@acuite.in 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. Please visit https://www.acuite.in/faqs.htm to refer FAQs on Credit Rating.