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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 27.78 | Not Applicable | Withdrawn | - |
| Total Outstanding | 0.00 | - | - |
| Total Withdrawn | 27.78 | - | - |
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Rating Rationale |
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Acuite has withdrawn its long-term rating on Rs.14.03 Cr. bank facilities of Sobhagia Sales Private Limited (SSPL) without assigning any rating as facilities has been closed. Further, Acuité has withdrawn the long-term bank facilites on Rs 13.75 Cr. of Sobhgia Sales Private Limited without assigning any rating as it is a proposed facility. The rating withdrawal is in accordance with Acuite’s policy on withdrawal of rating as applicable to the respective facility / instrument. The rating is being withdrawn on account of request received from the Company and No Dues Certificate received from the banker. |
| About the Company |
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Punjab based, Sobhagia Sales Private Limited (SSPL) was established in 1993 by Mr. Raj Avasthi and Mr. Munish Avasthi. The company, part of the Sportking Group, is the manufactures and Trader of Hosiery and Ready-made garments for men, women, and kids. Its main products are Pullovers, track suits, cardigans infant wear and undergarments. |
| Unsupported Rating |
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Not Applicable |
| Analytical Approach |
| Not Applicable |
| Key Rating Drivers |
| Strengths |
| Not Applicable |
| Weaknesses |
| Not Applicable |
| Rating Sensitivities |
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Not Applicable |
| Liquidity Position |
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Not Applicable |
| Outlook: Not Applicable |
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| Other Factors affecting Rating |
| None |
| Particulars | Unit | FY 23 (Actual) | FY 22 (Actual) |
| Operating Income | Rs. Cr. | 127.47 | 132.54 |
| PAT | Rs. Cr. | 22.49 | 14.36 |
| PAT Margin | (%) | 17.64 | 10.83 |
| Total Debt/Tangible Net Worth | Times | 0.10 | 0.16 |
| PBDIT/Interest | Times | 13.24 | 15.51 |
| Status of non-cooperation with previous CRA (if applicable) |
| Not Applicable |
| Any other information |
| None |
| Applicable Criteria |
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• Default Recognition :- https://www.acuite.in/view-rating-criteria-52.htm • Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.htm • Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.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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