* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
Rating Rationale
Acuité has downgraded the long-term rating to ‘ACUITE B’ (read as ACUITE B) from 'ACUITE B+' (read as ACUITE B plus) and reaffirmed the short term rating of ‘ACUITE A4’ (read as ACUITE A four) on Rs. 50.00 crore bank facilities of Radhe Sham Ravi Prakash Timbers Private Limited 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
Radhe Sham Ravi Prakash Timbers Private Limited was established as a partnership concern in 1983 and then in 2006 converted into a private limited company. It is a Delhi based family owned company engaged in the business of trading and processing of timber. Company is being promoted by Mr. Ravi Prakash Singhal, Mr. Vinay Singhal, Mr. Vinay Singhal and Ms. Rachita Singhal. Company imports timber logs from countries like New Zealand and Australia to name a few and has a processing unit located in Gandhidham, Gujarat.
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
Rating Sensitivity
Potential triggers (individual or collective) for an upward rating action:
Not Applicable
Potential triggers (individual or collective) for a downward rating action:
Not Applicable
Liquidity Position
"No information provided by the issuer / available for Acuite to comment upon."
ACUITE A4
(Downgraded & Issuer not co-operating* from ACUITE A4+)
Secured Overdraft
Long Term
1.00
ACUITE B+
(Downgraded & Issuer not co-operating* from ACUITE BB-)
Proposed Long Term Bank Facility
Long Term
1.00
ACUITE B+
(Downgraded & Issuer not co-operating* from ACUITE BB-)
21 Nov 2023
Letter of Credit
Short Term
48.00
ACUITE A4+
(Reaffirmed & Issuer not co-operating*)
Secured Overdraft
Long Term
1.00
ACUITE BB-
(Reaffirmed & Issuer not co-operating*)
Proposed Long Term Bank Facility
Long Term
1.00
ACUITE BB-
(Reaffirmed & Issuer not co-operating*)
* The issuer did not co-operate; based on best available information.
Lender’s Name
ISIN
Facilities
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
BANK OF INDIA (BOI)
Not avl. / Not appl.
Letter of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
48.00
Simple
ACUITE A4 | Reaffirmed | Issuer not co-operating*
Not Applicable
Not avl. / Not appl.
Proposed Long Term Bank Facility
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
1.00
Simple
ACUITE B | Downgraded | Issuer not co-operating* ( from ACUITE B+ )
Canara Bank
Not avl. / Not appl.
Secured Overdraft
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
1.00
Simple
ACUITE B | Downgraded | Issuer not co-operating* ( from ACUITE B+ )
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
