Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Bank Loan Ratings 12.00 ACUITE B | Reaffirmed | Issuer not co-operating* -
Total Outstanding 12.00 - -
 
Rating Rationale

­Acuité has reaffirmed its long-term rating of ‘ACUITE B’ (read as ACUITE B) on the Rs.12.00 Cr. bank facilities of Pooja Sree Traders (PST). The rating  continous to be flagged as “Issuer Not Cooperating” and is based on best available information.


About the Company

­Pooja Sree Traders (PST) is a proprietorship concern established in 2010. PST is owned & managed by Mrs. P.Geethanjali. The PST is based at Annur, near Coimbatore, Tamil Nadu. The PST engaged in cotton ginning and pressing and it has an installed capacity of ginning 100 bales per day. The firm processes raw cotton (kappas) into cotton bales and trades into domestic markets.

 
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 has 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 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 22 (Provisional) FY 21 (Actual)
Operating Income Rs. Cr. 37.59 26.35
PAT Rs. Cr. 0.62 0.20
PAT Margin (%) 1.64 0.77
Total Debt/Tangible Net Worth Times 5.49 7.91
PBDIT/Interest Times 1.77 1.24
Status of non-cooperation with previous CRA

­Not Applicable

 
Any other information

­None

 
Applicable Criteria
• Trading Entities: https://www.acuite.in/view-rating-criteria-61.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

­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
10 Jan 2023 Cash Credit Long Term 9.00 ACUITE B | Not Applicable (Downgraded & Issuer not co-operating*)
Covid Emergency Line. Long Term 1.80 ACUITE B | Not Applicable (Downgraded & Issuer not co-operating*)
Term Loan Long Term 0.72 ACUITE B | Not Applicable (Downgraded & Issuer not co-operating*)
Proposed Long Term Bank Facility Long Term 0.48 ACUITE B | Not Applicable (Downgraded & Issuer not co-operating*)
13 May 2022 Cash Credit Long Term 9.00 ACUITE B+ | Stable (Upgraded from ACUITE B | Stable)
Covid Emergency Line. Long Term 1.80 ACUITE B+ | Stable (Upgraded from ACUITE B | Stable)
Term Loan Long Term 0.72 ACUITE B+ | Stable (Upgraded from ACUITE B | Stable)
Proposed Long Term Bank Facility Long Term 0.48 ACUITE B+ | Stable (Upgraded from ACUITE B | Stable)
23 Feb 2021 Cash Credit Long Term 9.00 ACUITE B | Stable (Assigned)
Term Loan Long Term 0.72 ACUITE B | Stable (Assigned)
Working Capital Term Loan Long Term 1.80 ACUITE B | Stable (Assigned)
Proposed Long Term Bank Facility Long Term 0.48 ACUITE B | Stable (Assigned)
­

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum
(Rs. Cr.)
Complexity Level Rating
Canara Bank Not avl. / Not appl. Cash Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 9.00 Simple ACUITE B | Reaffirmed | Issuer not co-operating*
Canara Bank Not avl. / Not appl. Covid Emergency Line. Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 1.80 Simple ACUITE B | Reaffirmed | Issuer not co-operating*
Not Applicable Not avl. / Not appl. Proposed Long Term Bank Facility Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 0.48 Simple ACUITE B | Reaffirmed | Issuer not co-operating*
Canara Bank Not avl. / Not appl. Term Loan Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 0.72 Simple ACUITE B | Reaffirmed | Issuer not co-operating*
­

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