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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 9.36 | ACUITE B- | Reaffirmed | Issuer not co-operating* | - |
Total Outstanding | 9.36 | - | - |
Total Withdrawn | 0.00 | - | - |
* The issuer did not co-operate; based on best available information. |
Rating Rationale |
Acuité has reaffirmed the long-term rating of ‘ACUITE B-’ (read as ACUITE B minus) on the Rs.9.36 crore bank facilities of K M S Spinners. The rating continues to be flagged as “Issuer Not Cooperating” and is based on the best available information. |
About the Company |
K M S Spinners was established in 2015 by Mr. Mani and Mr. S Sedhuram (Managing Partners) as a partnership firm in Coimbatore (Tamil Nadu). The firm started manufacturing operations in November 2016. The firm produces open-ended cotton yarns, used in the manufacture of tshirts, shirts and grey fabrics. The firm has a production capacity of 200 tons per Month. The firm's clients are weaving mills mainly located across Palladam, Palayam, Tirupur district. |
Unsupported Rating |
Not Applicable |
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 the due date. |
Limitation regarding information availability |
Rating Sensitivity |
"No information provided by the issuer / available for Acuite to comment upon." |
Liquidity Position |
"No information provided by the issuer / available for Acuite to comment upon." |
Outlook |
Not Applicable |
Other Factors affecting Rating |
None |
Particulars | Unit | FY 19 (Provisional) | FY 18 (Actual) |
Operating Income | Rs. Cr. | 25.59 | 16.28 |
PAT | Rs. Cr. | 0.24 | 0.11 |
PAT Margin | (%) | 0.93 | 0.68 |
Total Debt/Tangible Net Worth | Times | 1.89 | 2.28 |
PBDIT/Interest | Times | 2.53 | 2.40 |
Status of non-cooperation with previous CRA |
Not Applicable |
Any other information |
None |
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 |
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* The issuer did not co-operate; based on best available information. |
Disclosure of list of non-cooperative issuers |
• Listed :- https://www.acuite.in/Non-Cooperative_Issuer_Listed.php • Unlisted :- https://www.acuite.in/Non-Cooperative_Issuer_Unlisted.php |
Contacts |
About Acuité Ratings & Research |
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