![]() |
![]() |
Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 15.00 | ACUITE B | Downgraded | Issuer not co-operating* | - |
Total Outstanding | 15.00 | - | - |
Total Withdrawn | 0.00 | - | - |
* The issuer did not co-operate; based on best available information. |
Rating Rationale |
Acuité has downgraded the long-term rating to ‘ACUITE B’ (read as ACUITE B) from 'ACUITE B+' (read as ACUITE B plus) on the Rs. 15.00 crore bank facilities of Shrishri Infrastructure Private Limited (SIPL) 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 |
Shrishri Infrastructure Private Limited (SIPL), incorporated in 2011 was promoted by Mr. Shrikant Khatod and his brother, Mr. Shriram Khatod. The company is engaged in development of residential and commercial building projects at Jalgaon district (Maharashtra). The company is also engaged in civil construction business and executes several government contracts in Jalgaon district of Maharashtra. |
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. |
Limitation regarding information availability |
Rating Sensitivity |
"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." |
Outlook |
Not Applicable |
Other Factors affecting Rating |
None |
Particulars | Unit | FY 24 (Actual) | FY 23 (Actual) |
Operating Income | Rs. Cr. | 28.63 | 42.68 |
PAT | Rs. Cr. | 0.93 | 1.06 |
PAT Margin | (%) | 3.26 | 2.49 |
Total Debt/Tangible Net Worth | Times | 0.99 | 1.17 |
PBDIT/Interest | Times | 1.59 | 2.01 |
Status of non-cooperation with previous CRA |
Not Applicable |
Any other information |
None |
Applicable Criteria |
• Infrastructure Sector: https://www.acuite.in/view-rating-criteria-51.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm |
Note on complexity levels of the rated instrument |
|
|
|
|||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||
* The issuer did not co-operate; based on best available information. |
Contacts |
About Acuité Ratings & Research |
© Acuité Ratings & Research Limited. All Rights Reserved. | www.acuite.in |