Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Bank Loan Ratings 1.50 ACUITE B+ | Downgraded & Withdrawn | Issuer not co-operating* -
Bank Loan Ratings 9.00 - ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
Total Outstanding 0.00 - -
Total Withdrawn 10.50 - -
 
Rating Rationale

Acuité has downgraded and withdrawn its long-term rating to ‘ACUITE B+’ (read as ACUITE B plus) from 'ACUITE BB-' (read as ACUITE Double B Minus) and reaffirmed and withdrawn its short-term rating of 'ACUITE A4' (read as ACUITE A Four) on the total Rs. 10.50 crore bank facilities of Om Prakash Sharma Contractor. The rating is now flagged as “Issuer Not-Cooperating” and is based on the best available information.

The rating downgrade is on account of information risk. The rating has been withdrawn as per Acuite's policy of withdrawal of ratings as applicable to the respective instrument/facility. The rating has been withdrawn on account of the request received from the company and the NOC(No Objection Certificate) received from the banker.
 

About the Company
OPSC established in 2002, is a Gwalior based partnership firm engaged in construction of roads & bridges for Madhya Pradesh Public Works Department (MPPWD). Mr. Om Prakash Sharma, Ms. Ankit Sharma, Mrs. Mithlesh Kumari, Mrs. Sunita Sharma are the partners of the firm.
 
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. Acuité believes that information risk is a critical component in such ratings, and non cooperation by the issuer along with unwillingness to provide information could be a sign of potential deterioration in its overall credit quality. This rating is therefore being flagged as “Issuer not cooperating”, in line with prevailing SEBI regulations and Acuité’s policies.
 
Limitation regarding information availability
The rating is based on information available from sources other than the issuer/borrower (in the absence of information provided by the issuer/borrower). Acuité endeavoured to gather information about the entity/ industry from the public domain. Therefore, Acuité cautions lenders and investors regarding the use of such information, on which the indicative credit rating is based.
 
Rating Sensitivities
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 23 (Actual) FY 22 (Actual)
Operating Income Rs. Cr. 29.96 9.60
PAT Rs. Cr. 1.56 0.49
PAT Margin (%) 5.22 5.13
Total Debt/Tangible Net Worth Times 0.22 0.65
PBDIT/Interest Times 8.64 3.32
Status of non-cooperation with previous CRA
Not Applicable
 
Any other information
None
 
Applicable Criteria
• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm
• Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm
• Infrastructure Sector: https://www.acuite.in/view-rating-criteria-51.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 
 

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook
06 Apr 2023 Cash Credit Long Term 1.50 ACUITE BB- | Stable (Reaffirmed)
Bank Guarantee/Letter of Guarantee Short Term 7.00 ACUITE A4 (Reaffirmed)
Bank Guarantee/Letter of Guarantee Short Term 2.00 ACUITE A4 (Assigned)
23 Mar 2022 Bank Guarantee/Letter of Guarantee Short Term 7.00 ACUITE A4 (Reaffirmed)
Cash Credit Long Term 1.50 ACUITE BB- | Stable (Reaffirmed)
04 Jan 2021 Bank Guarantee (BLR) Short Term 7.00 ACUITE A4 (Reaffirmed)
Cash Credit Long Term 1.50 ACUITE BB- | Stable (Reaffirmed)
­

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum
(Rs. Cr.)		 Complexity Level Rating
Bank of Baroda Not avl. / Not appl. Bank Guarantee/Letter of Guarantee Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 7.00 Simple ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
Bank of Baroda Not avl. / Not appl. Bank Guarantee/Letter of Guarantee Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 2.00 Simple ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
Bank of Baroda Not avl. / Not appl. Cash Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 1.50 Simple ACUITE B+ | Downgraded & Withdrawn | Issuer not co-operating* ( from ACUITE BB- )
­

Contacts




About Acuité Ratings & Research
© Acuité Ratings & Research Limited. All Rights Reserved.www.acuite.in