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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 12.00 | ACUITE B+ | Downgraded | Issuer not co-operating* | - |
Bank Loan Ratings | 31.00 | - | ACUITE A4 | Reaffirmed | Issuer not co-operating* |
Total Outstanding | 43.00 | - | - |
Total Withdrawn | 0.00 | - | - |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 B+’ (read as ACUITE B plus) from 'ACUITE BB-' (read as ACUITE double B minus) and reaffirmed the short term rating of ‘ACUITE A4’ (read as ACUITE A four) on the Rs.43.00 Crore bank facilities of PIMS Medical And Education Charitable Society on account of information risk. The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information. |
About the Company |
Established in the year 1999 by the Punjab Government, PIMS Medical And Education Charitable Society is a Jalandhar, Punjab based medical college and hospital. The hospital commenced its operation in the year 2010. Subsequently, it was converted into a Public Private Partnership Society and was taken over by a professional board in 2013. Since 2011, the college has started operating. |
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 19 (Actual) | FY 18 (Actual) |
Operating Income | Rs. Cr. | 66.87 | 52.25 |
PAT | Rs. Cr. | 7.47 | (5.62) |
PAT Margin | (%) | 11.17 | (10.76) |
Total Debt/Tangible Net Worth | Times | 0.01 | 0.13 |
PBDIT/Interest | Times | 15.86 | 1.11 |
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. |
Contacts |
About Acuité Ratings & Research |
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