* 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 its long-term rating to 'ACUITE C' (read as ACUITE C) from 'ACUITE BB+' (read as ACUITE Double B Plus) and short-term rating to 'ACUITE A4' (read as ACUITE A Four) from 'ACUITE A4+' (read as ACUITE A Four Plus) on the Rs. 64.00 crore bank facilities of Royal Imports and Exports.
The rating is now flagged as 'Issuer Not-Cooperating' on account of information risk and is based on the best available information. The rating has been downgraded on account of information risk and the firm has not provided latest No Default Statement (NDS) for last 3 months consecutively ended Sept 2026. Further, the Acuite has extracted CIC report of the firm which shows recent delays from May 2026 to August 2026 & the account is classified as Sub Standard account.
About the Company
Andhra Pradesh based Royal Imports And Exports (RIE) was incorporated in 2014. The firm is engaged in the business of Seafood processing & Exports. Partners of the company are Mr. Ch Prasada Rao, Mr. Ch Jagannadha Rao, Mr. Ch Durgamaleswarimr. Ch Anusha, Mr. Muhisin Kollivil Asharafe, Mr. Khader Mohammed Asharaf.
Unsupported Rating
Not Applicable
Non-cooperation by the issuer/borrower
Acuité has been requesting for No Default Statements (NDS); however, despite multiple requests; the Company’s management has remained non-cooperative and not submitted the NDS for the preceding 03 consecutive months. 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 Sensitivities
Potential triggers (individual or collective) for an upward rating action:
No information provided by the issuer / available for Acuite to comment upon.
Potential triggers (individual or collective) for a downward rating action:
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.
ACUITE A4 | Downgraded | Issuer not co-operating* ( from ACUITE A4+ )
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Not avl. / Not appl.
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Unlisted
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Not avl. / Not appl.
Not avl. / Not appl.
31 Mar 2027
6.00
Simple
ACUITE C | Downgraded | Issuer not co-operating* ( from ACUITE BB+ )
Union Bank of India
Not avl. / Not appl.
PC/PCFC
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
20.00
Simple
ACUITE A4 | Downgraded | Issuer not co-operating* ( from ACUITE A4+ )
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Not avl. / Not appl.
PC/PCFC
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
20.00
Simple
ACUITE A4 | Downgraded | Issuer not co-operating* ( from ACUITE A4+ )
Union Bank of India
Not avl. / Not appl.
Stand By Line of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
3.00
Simple
ACUITE C | Downgraded | Issuer not co-operating* ( from ACUITE BB+ )
* 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.
