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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 14.00 | ACUITE D | Reaffirmed | Issuer not co-operating* | - |
Total Outstanding | 14.00 | - | - |
Total Withdrawn | 0.00 | - | - |
* The issuer did not co-operate; based on best available information. |
Rating Rationale |
Acuite has reaffirmed the long term rating of ‘Acuite D’ (read as Acuite D) on the Rs. 14.00 crore bank facilities of Luxmi Rice Mills (LRM).The rating continues to be flagged as “Issuer Not Cooperating” and is based on the best available information. |
About the Company |
Established in 1980, Luxmi Rice Mills (LRM) is a proprietorship firm engaged in the processing and trading of basmati and non-basmati rice. The manufacturing facilities are located in Nissing (District Karnal) Haryana, with an installed capacity of 3 MT per hour. The firm was promoted by Mr. Roshan Lal Singla and it sells under the brand name of ‘Singal Chab. The registered office of the company is in Haryana. |
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 17 (Actual) | FY 16 (Actual) |
Operating Income | Rs. Cr. | 71.36 | 54.00 |
PAT | Rs. Cr. | 0.16 | 0.13 |
PAT Margin | (%) | 0.23 | 0.24 |
Total Debt/Tangible Net Worth | Times | 1.42 | 1.77 |
PBDIT/Interest | Times | 1.17 | 1.16 |
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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