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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 34.98 | Not Applicable | Withdrawn | - |
| Bank Loan Ratings | 5.02 | - | Not Applicable | Withdrawn |
| Total Outstanding Quantum (Rs. Cr) | 0.00 | - | - |
| Total Withdrawn Quantum (Rs. Cr) | 40.00 | - | - |
| Rating Rationale |
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Acuité has withdrawn its long term and short term rating on the Rs.40.00 Cr. bank facilities of Primatel Fibcom Limited. The rating has been withdrawn on Acuite's policy of withdrawal of ratings. The rating has been withdrawn on account of the request received from the company, and the NDC received from the banker. Since the loan availed by the company has been repaid, the rating has been withdrawn. |
| About the Company |
| Primatel Fibcom Limited (erstwhile Prima Telecom Limited), based in Delhi, is a part of the Telecom Division of the Suri Group. It was incorporated in the year 1995 as a limited company. The company is engaged in the manufacturing of telecom equipment such as Modem, Multiplexers, Converters, UBR Radio and Prefab shelters. The present Directors of the company are Mr. Jai Krishan Aggarwal, Mr. Rajiv Kumar Agarwal, Ms. Swati Birdi, Mr. Vijayveer Singh and Mr. Mahesh Na |
| Analytical Approach |
| Not Applicable |
Key Rating Drivers
| Strengths |
| Not Applicable |
| Weaknesses |
| Not Applicable |
| Rating Sensitivities |
| Not Applicable |
| All Covenants |
| None |
| Liquidity Position: Not Applicable |
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| Outlook: Not Applicable |
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| Other Factors affecting Rating |
| None |
| Particulars | Unit | FY 22 (Provisional) | FY 21 (Actual) |
| Operating Income | Rs. Cr. | 35.80 | 116.60 |
| PAT | Rs. Cr. | 1.20 | (8.57) |
| PAT Margin | (%) | 3.34 | (7.35) |
| Total Debt/Tangible Net Worth | Times | (6.44) | (4.21) |
| PBDIT/Interest | Times | 2.12 | 2.16 |
| Status of non-cooperation with previous CRA (if applicable) |
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CARE vide its press release dated 19th December, 2022, had downgraded the company to CARE B/stable/A4: Issuer Not Cooperating. CRISIL vide its press release dated 24th June, 2022, had downgraded the company to CRISIL B/stable/A4: Issuer Not Cooperating. |
| Any other information |
| Acuite is yet to receive the latest No Default Statement, from the rated entity, despite repeated requests and followups. |
| Applicable Criteria |
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• Default Recognition :- https://www.acuite.in/view-rating-criteria-52.htm • Entities In Manufacturing Sector:- https://www.acuite.in/view-rating-criteria-59.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 |
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