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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 10.00 | ACUITE C | Downgraded | Issuer not co-operating* | - |
Bank Loan Ratings | 9.00 | - | ACUITE A4 | Reaffirmed | Issuer not co-operating* |
Total Outstanding | 19.00 | - | - |
Total Withdrawn | 0.00 | - | - |
* The issuer did not co-operate; based on best available information. |
Rating Rationale |
Acuité has downgraded the long-term rating to ‘ACUITE C’ (read as ACUITE C) from ‘ACUITE B-’ (read as ACUITE B minus) and reaffirmed the short-term rating of ‘ACUITE A4’ (read as ACUITE A four) on the Rs. 19.00 crore bank facilities of Nair Coal Services Private Limited (NCSPL). The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information. |
About the Company |
Nair Coal Services Private Limited (NCSPL), incorporated in 1984, is a Nagpur-based company promoted by Mr. Susheel Nair (Director). The company is engaged in liaison and supervising of logistics of coal. NCSPL operates through its nine branches across India. |
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 |
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Other Factors affecting Rating |
None |
Particulars | Unit | FY 23 (Actual) | FY 22 (Actual) |
Operating Income | Rs. Cr. | 28.09 | 25.77 |
PAT | Rs. Cr. | 1.59 | 1.16 |
PAT Margin | (%) | 5.64 | 4.50 |
Total Debt/Tangible Net Worth | Times | 0.10 | 0.08 |
PBDIT/Interest | Times | 4.38 | 4.33 |
Status of non-cooperation with previous CRA |
Not Applicable |
Any other information |
None |
Applicable Criteria |
• Service Sector: https://www.acuite.in/view-rating-criteria-50.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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