­Shamsons Polymers Private Limited (SPPL) was incorporated in the year 1993 is engaged into manufacturing of sports and casual shoes, hawai chappals and sandals through ~150 distributors and to the companies like B ata with pan India presence. It has manufacturing capacity of 300,000 pairs per month at its facilities in Sahibabad and Noida in Uttar Pradesh, and at Narela in Delhi. The company was promoted by Mr. Deepak Batra who has more than two decades of experience in footwear industry. The company sells its product with the brand name ‘Oasis’.

­Shamsons Industries (SI) was formed as a partnership firm in 2005 and started commercial operations in 2008 by Mr. Deepak Batra and Mr. Varun Batra. The firm is engaged in the manufacture of shoes, slippers and sandals with their manufacturing unit in Roorkee, Uttaranchal. The firm has manufacturing capacity of 100,000 pairs per shift per month at facilities in Roorkee, Uttarakhand.

­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.