­Punjab-based, ­Pritika Industries Limited, is a flagship company of Pritika Group and is a machining unit set up for manufacture of auto/tractor components. Mr. Raminder Singh Nibber, initially established this as a partnership firm in the name of Pritika Industries in 1974. Subsequently, this has been converted to a company with current nomenclature in the year 1997, which has taken over the assets and liabilities of the partnership firm.

­­Acuite has consolidated the risk profiles of Pritika Industries Limited, Pritika Autocast Limited and Nibber Casting Private Limited on account of same promoter group, cross corporate guarantees and significant business linkages. Punjab-based, ­Pritika Industries Limited, is a flagship company of Pritika Group and is a machining unit set up for manufacture of auto/tractor components. Mr. Raminder Singh Nibber, initially established this as a partnership firm in the name of Pritika Industries in 1974. The present directors of the company are Mr. Harpreet Singh Nibber, Mr. Ajay Kumar, Ms. Neha and Mr. Ramesh Chander Saini. Pritika Autocast Limited, incorporated in 2005 is promoted by Mr. Raminder Singh Nibber & Harpreet Singh Nibber and is based in Himachal Pradesh. The Company is engaged in Manufacturing of machined castings and forging for tractor /automobile manufacturers in India. The present directors of the company are Mr. Raminder Singh Nibber, Harpreet Singh Nibber and Mr. Neeraj Bajaj. ­­Incorporated in 1996, Nibber Castings Private Limited (NCPL) is a producer of raw castings based in Northern India. The company is a mechanised foundry producing Grey Iron Castings ranging in 5 Kgs. to 120 Kgs. and catering to Tractor and Commercial Vehicle Industry. Mr. Raminder Singh Nibber is the Wholetime Director of the company.

­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.

­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 endeavored 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.

­The rated entity has not shared the latest financial statements despite repeated requests.

­­"No information provided by the issuer / available for Acuite to comment upon."

­­"No information provided by the issuer / available for Acuite to comment upon."

­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.