Press Release June 12, 2025 NITSON AND AMITSU PRIVATE LIMITED Rating Withdrawn

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	10.00	Not Applicable | Withdrawn	-
Bank Loan Ratings	50.00	-	Not Applicable | Withdrawn
Total Outstanding	0.00	-	-
Total Withdrawn	60.00	-	-

Rating Rationale

­Acuite has withdrawn its long-term and short-term rating on bank facilities of Rs.60.00 Cr. without assigning any rating as the instrument is fully repaid of Nitson and Amitsu Private Limited (NAPL). The rating has been withdrawn as per Acuite's policy of withdrawal of ratings as applicable to the respective instrument/facility. The rating has been withdrawn on account of the request received from the company and NDC (No Due Certificate) received from the respective banker.

About the Company

­Established in 1983, Nitson and Amitsu Private Limited (NAPL) is engaged in the designing, supplying, testing and commissioning of electrical systems, facades and turnkey for corporate offices, steel, cement and power plants, hotels and hospitals, residential/townships and others. The company is promoted by Mr. Aruneshwar Krishan Soni, Mr. Amit Soni, Mr. Sumit Soni, Mr. Nitin Gulati and Mr. Sonesh Gulati. The company has registered office in Kolkata.

About the Group

­Nitson and Amitsu Building Systems Private Limited (NABSPL) was incorporated in 2008 based in Kolkata. the company is engaged in manufacturing of aluminium doors, windows as well as commissioning and installation. The company is promoted by Mr. Aruneshwar Krishan Soni and family.

Unsupported Rating

­Not Applicable

Analytical Approach

Extent of Consolidation-Not Applicable

Rationale for Consolidation or Parent / Group / Govt. Support

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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Other Factors affecting Rating

­None

Key Financials

Particulars	Unit	FY 24 (Actual)	FY 23 (Actual)
Operating Income	Rs. Cr.	119.13	85.29
PAT	Rs. Cr.	1.70	1.03
PAT Margin	(%)	1.43	1.21
Total Debt/Tangible Net Worth	Times	0.63	0.48
PBDIT/Interest	Times	1.74	1.43

Status of non-cooperation with previous CRA (if applicable)

­Not Applicable

Interaction with Audit Committee anytime in the last 12 months (applicable for rated-listed / proposed to be listed debt securities being reviewed by Acuite)

Not applicable

Any Other Information

­None

Applicable Criteria

• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm • Consolidation Of Companies: https://www.acuite.in/view-rating-criteria-60.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.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 07 Feb 2025 Letter of Credit Short Term 20.00 ACUITE A4 (Downgraded & Issuer not co-operating* from ACUITE A4+) Bank Guarantee/Letter of Guarantee Short Term 30.00 ACUITE A4 (Downgraded & Issuer not co-operating* from ACUITE A4+) Cash Credit Long Term 10.00 ACUITE C (Downgraded & Issuer not co-operating* from ACUITE BB+ | Stable) 29 Jan 2024 Bank Guarantee/Letter of Guarantee Short Term 18.50 ACUITE A4+ (Reaffirmed) Bank Guarantee/Letter of Guarantee Short Term 11.50 ACUITE A4+ (Assigned) Letter of Credit Short Term 15.00 ACUITE A4+ (Reaffirmed) Letter of Credit Short Term 5.00 ACUITE A4+ (Assigned) Cash Credit Long Term 6.00 ACUITE BB+ | Stable (Reaffirmed) Cash Credit Long Term 4.00 ACUITE BB+ | Stable (Assigned) 15 Feb 2023 Bank Guarantee/Letter of Guarantee Short Term 16.00 ACUITE A4+ (Reaffirmed) Bank Guarantee/Letter of Guarantee Short Term 2.50 ACUITE A4+ (Assigned) Letter of Credit Short Term 15.00 ACUITE A4+ (Reaffirmed) Cash Credit Long Term 6.00 ACUITE BB+ | Stable (Reaffirmed) 28 Apr 2022 Bank Guarantee/Letter of Guarantee Short Term 8.50 ACUITE A4+ (Reaffirmed) Letter of Credit Short Term 10.00 ACUITE A4+ (Reaffirmed) Proposed Bank Guarantee Short Term 6.50 ACUITE A4+ (Reaffirmed) Proposed Letter of Credit Short Term 2.00 ACUITE A4+ (Reaffirmed) Cash Credit Long Term 6.00 ACUITE BB+ | Stable (Reaffirmed) Proposed Cash Credit Long Term 4.00 ACUITE BB+ | Stable (Reaffirmed)

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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 Indian Bank Not avl. / Not appl. Bank Guarantee/Letter of Guarantee Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 30.00 Simple Not Applicable|Withdrawn Indian Bank Not avl. / Not appl. Cash Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 10.00 Simple Not Applicable|Withdrawn Indian Bank Not avl. / Not appl. Letter of Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 20.00 Simple Not Applicable|Withdrawn

*Annexure 2 - List of Entities (applicable for Consolidation or Parent / Group / Govt. Support)

­ Sr. No Name of the companies 1 Nitson and Amitsu Private Limited 2 Nitson and Amitsu Building Systems Private Limited

Contacts

Mohit Jain Chief Analytical Officer - Rating Operations Manvi Khaitan Associate Analyst - Rating Operations	Contact details exclusively for investors and lenders Mob: +91 8591310146 Email ID: analyticalsupport@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. Note: None of the Directors on the Board of Acuité Ratings & Research Limited are members of any rating committee and therefore do not participate in discussions regarding the rating of any entity.