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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 65.00 | ACUITE BB | Reaffirmed | Issuer not co-operating* | - |
| Total Outstanding | 65.00 | - | - |
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Rating Rationale |
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Acuité has reaffirmed the long-term rating from 'ACUITE BB' (read as ACUITE Double B )’ on the Rs.65 crore bank facilities of REGENT GARAGE PRIVATE LIMITED (RGPL). This rating is now an indicative rating and is based on best available information.
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| About the Company |
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Regent Garage Private Limited (RGPL) was established on 27th August 2002 with Registrar of Companies, NCT of Delhi and Haryana with main objects to carry on the business of Dealers, Distributors, Stockiest, Buyers, Sellers, Importers, Exporters, Services and agents of all kinds of vehicles, equipment’s, components and spare parts thereof.The Dealership has completed 10 years as Audi Dealer. The Directors of the company are Mr Raghav Chandra,Mr Dinesh Goyal and Mr Shiwesh Kumar Thakur.
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| Unsupported Rating |
| Not Applicable |
| Non-cooperation by the issuer/borrower |
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Acuité has been requesting for Critical information required for rating review from the rated entity. However, the issuer / borrower failed to submit such information before 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.
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| Limitation regarding information availability |
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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 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.
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| Rating Sensitivities |
| No information provided by the issuer / available for Acuite to comment upon. |
| All Covenants |
| Not Applicable |
| Liquidity Position |
| No information provided by the issuer / available for Acuite to comment upon |
| Outlook:Not Applicable |
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| Other Factors affecting Rating |
| None |
| Particulars | Unit | FY 23 (Actual) | FY 22 (Actual) |
| Operating Income | Rs. Cr. | 276.41 | 141.27 |
| PAT | Rs. Cr. | 5.86 | 2.23 |
| PAT Margin | (%) | 2.12 | 1.58 |
| Total Debt/Tangible Net Worth | Times | 2.41 | 2.50 |
| PBDIT/Interest | Times | 2.11 | 1.65 |
| Key Financials: |
| Figures in table are based on information available on MCA website. |
| Status of non-cooperation with previous CRA |
| Not Applicable |
| Any other information |
| None |
| Applicable Criteria |
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• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Trading Entitie: https://www.acuite.in/view-rating-criteria-61.htm |
| Note on Complexity Levels of the Rated Instrument |
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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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