Press Release May 21, 2025 SN ENVIRO TECH PRIVATE LIMITED Rating Downgraded and Reaffirmed

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	4.97	ACUITE C | Downgraded	-
Bank Loan Ratings	42.03	-	ACUITE A4 | Reaffirmed
Total Outstanding	47.00	-	-
Total Withdrawn	0.00	-	-

Rating Rationale

­Acuite has downgraded the long-term rating to ‘ACUITE C’ (read as ACUITE C) from ‘ACUITE B’ (read as ACUITE B) and reaffirmed the short-term rating to 'ACUITE A4’ (read as ACUITE A four) on the Rs. 47.00 Cr. bank facilities of SN Enviro Tech Private Limited.  Rationale for Rating Downgrade The rating downgrade considers delays in the repayment of debt obligations by SN Enviro Tech Private Limited (SNETPL). The company has been delaying its repayments on the Unsecured Business Loans (USBL) from July 2024 to January 2025. Additionally, an Auto Loan has been classified as sub-standard in the month of December 2024.

About the Company

­­Delhi Based, SN Enviro Tech Private Limited (SNETPL) was incorporated in 2005. The company is engaged in providing services in environmental activities, especially EPC of STP (Sewage Treatment Plant) and WTP (Waste Water Treatment Plant) across India. Mr. Abhishek Nandy and Ms. Pankhuri Mukim Nandy are directors of this company.

Unsupported Rating

­­Not Applicable.

Analytical Approach

­­Acuite has taken standalone financial and business risk profile of SN Enviro Tech Private Limited(SNETPL) to arrive at this rating.

Key Rating Drivers

Strengths

­Established Management The decade-long experience of the promoters in the civil construction business, their understanding of local market dynamics and healthy relationships with suppliers and customers has helped the company withstand industry cycles. Also, the operations are geographically diversified across Assam, West Bengal, Rajasthan, Bihar and Uttarakhand with largely stable scale.

Weaknesses

Delays in servicing debt obligations  The company has been delaying its repayments on the Unsecured Business Loans (USBL) from July 2024 to January 2025. Additionally, an Auto Loan has been classified as sub-standard in the month of December 2024.

Rating Sensitivities

­­Timely servicing of  debt obligations

Liquidity Position

Poor

Liquidity position of the company is poor as there has been delays in repayments on the Unsecured Business Loans (USBL) from July 2024 to January 2025. Additionally, an Auto Loan has been classified as sub-standard in the month of December 2024.

Outlook: Not Applicable

­

Other Factors affecting Rating

­None

Key Financials

Particulars	Unit	FY 24 (Provisional)	FY 23 (Actual)
Operating Income	Rs. Cr.	45.89	51.08
PAT	Rs. Cr.	2.74	2.89
PAT Margin	(%)	5.97	5.66
Total Debt/Tangible Net Worth	Times	0.40	0.62
PBDIT/Interest	Times	2.42	2.30

Status of non-cooperation with previous CRA (if applicable)

­Not Applicable

Interaction with Audit Committee anytime in the last 12 months (applicable for rated-listed / proposed to be listed debt securities being reviewed by Acuite)

Not applicable

Any other information

­None

Applicable Criteria

• Default Recognition :- https://www.acuite.in/view-rating-criteria-52.htm • Infrastructure Sector: https://www.acuite.in/view-rating-criteria-51.htm • Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm

Note on complexity levels of the rated instrument

­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.

Rating History

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook 01 Jul 2024 Bank Guarantee (BLR) Short Term 42.03 ACUITE A4 (Assigned) Cash Credit Long Term 4.50 ACUITE B | Stable (Assigned) Proposed Long Term Bank Facility Long Term 0.47 ACUITE B | Stable (Assigned)

­

Annexure - Details of instruments rated

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating Punjab National Bank Not avl. / Not appl. Bank Guarantee (BLR) Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 42.03 Simple ACUITE A4 | Reaffirmed Punjab National Bank Not avl. / Not appl. Cash Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 4.50 Simple ACUITE C | Downgraded ( from ACUITE B ) Not Applicable Not avl. / Not appl. Proposed Long Term Bank Facility Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 0.47 Simple ACUITE C | Downgraded ( from ACUITE B )

Contacts

Mohit Jain Senior Vice President - Rating Operations Abhishek Singh Analyst - Rating Operations	Contact details exclusively for investors and lenders Mob: +91 8591310146 Email ID: analyticalsupport@acuite.in

About Acuité Ratings & Research

Acuité is a full-service Credit Rating Agency registered with the Securities & Exchange Board of India (SEBI). The company received RBI Accreditation as an External Credit Assessment Institution (ECAI) for Bank Loan Ratings under BASEL-II norms in the year 2012. Acuité has assigned ratings to various securities, debt instruments and bank facilities of entities spread across the country and across a wide cross section of industries. It has its Registered and Head Office in Kanjurmarg, Mumbai. Disclaimer: An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy, sell or hold any security. Ratings assigned by Acuité are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité, in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind, arising from the use of its ratings. Ratings assigned by Acuité are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité. Please visit https://www.acuite.in/faqs.htm to refer FAQs on Credit Rating. Note: None of the Directors on the Board of Acuité Ratings & Research Limited are members of any rating committee and therefore do not participate in discussions regarding the rating of any entity.