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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 49.00 | Not Applicable | Withdrawn | - |
| Bank Loan Ratings | 1.25 | - | Not Applicable | Withdrawn |
| Total Outstanding | 0.00 | - | - |
| Total Withdrawn | 50.25 | - | - |
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Rating Rationale |
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Acuité has withdrawn the long-term and short-term rating on the Rs.50.25 crore bank facilities of L P F SYSTEMS PRIVATE LIMITED (LSPL). The same is withdrawn without assigning any rating as the bank facilties are repaid and closed. Further, ACUITE has received the NDC from the banker. The rating is being withdrawn on account of the request received from the company and the NDC received from the banker’s as per Acuité’s policy on withdrawal of ratings as applicable to the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.
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| About the Company |
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L P F Systems Private Limited (LSPL), based in Hyderabad, was incorporated as a partnership firm in 1982. Later in 1997, it was converted into private limited company. It is promoted and managed by Mr. Venu Vinod. The company is engaged in trading of engineering products, automotive spares, welding alloys, passenger car spare parts for TATA passenger cars, VE Commercial Vehicles Limited, and Shell Lubricants. Currently, LSPL has ventured into real estate business, were the company will develop and sell the open residential plots.
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| Unsupported Rating |
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Not Applicable
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| Analytical Approach |
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Not Applicable
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| Key Rating Drivers |
| Strengths |
| Not Applicable
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| Weaknesses |
| Not Applicable
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| Rating Sensitivities |
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Not Applicable
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| Liquidity Position |
| Not Applicable |
| Outlook: Not Applicable |
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| Other Factors affecting Rating |
| None |
| Particulars | Unit | FY 23 (Actual) | FY 22 (Actual) |
| Operating Income | Rs. Cr. | 69.87 | 56.24 |
| PAT | Rs. Cr. | 0.15 | 0.31 |
| PAT Margin | (%) | 0.22 | 0.55 |
| Total Debt/Tangible Net Worth | Times | 3.97 | 2.75 |
| PBDIT/Interest | Times | 1.11 | 1.17 |
| Status of non-cooperation with previous CRA (if applicable) |
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Not Applicable
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| Any other information |
| None |
| Applicable Criteria |
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• 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 • Trading Entities: https://www.acuite.in/view-rating-criteria-61.htm |
| Note on complexity levels of the rated instrument |
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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
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