Press Release March 26, 2024 SPETZ HEALTH AND WELLBEING PRIVATE LIMITED Rating Withdrawn

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	3.50	Not Applicable | Withdrawn	-
Total Outstanding	0.00	-	-
Total Withdrawn	3.50	-	-

Rating Rationale

­Acuité has withdrawn the long-term rating on the Rs. 3.50 Cr. bank facilities of SPETZ Health and Wellbeing Private Limited (SHPL) without assiging any rating. The rating has been withdrawn on Acuite's policy of withdrawal of ratings. The rating has been withdrawn on account of the request received from the company, and the NDC received from the banker. Since the loan availed by the company has been repaid, the rating has been withdrawn.

About the Company

­­SPETZ Health and Wellbeing Private Limited (SHPL) based of Gurgaon, Haryana incorporated in October 2018. The company is ISO 27001 certified. The company is engaged in running Mobile Healthcare Platform ~ Doctor 24x7. Doctor 24x7 is a Tele-consultation application to connect with licensed, experienced and qualified big city Doctors / Experts instantly, 24 hours, 7 days a week. It facilitates instant access to consult qualified well known doctors and experts over the call for medical advice and cure. The company is promoted by Traktion Solutions Private Limited, Zerone Technologies Private Limited (ZTPL) and Spotcheck Health and Wellness Services Private Limited, each holding 33.33 percent stake in the company. The present directors of the company are Mr. Rahul Mathur, Mr. Vasudevan Krishnamoorthy and Mr. Manoj Kulangara Menon.

Unsupported Rating

­Not Applicable

Analytical Approach

­Not Applicable

Key Rating Drivers

Strengths

­Not Applicable

Weaknesses

­Not Applicable

Rating Sensitivities

­Not Applicable

Liquidity Position

­Not Applicable

Outlook: Not Applicable

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Other Factors affecting Rating

­None

Key Financials

Particulars	Unit	FY 23 (Actual)	FY 22 (Actual)
Operating Income	Rs. Cr.	0.10	2.26
PAT	Rs. Cr.	(0.59)	(0.08)
PAT Margin	(%)	(558.83)	(3.51)
Total Debt/Tangible Net Worth	Times	(1.12)	(0.60)
PBDIT/Interest	Times	0.02	1.03

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

­Not Applicable

Any other information

­None

Applicable Criteria

• Default Recognition :- https://www.acuite.in/view-rating-criteria-52.htm • Service Sector: https://www.acuite.in/view-rating-criteria-50.htm • Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm • Explicit Credit Enhancements: https://www.acuite.in/view-rating-criteria-49.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 29 Dec 2022 Secured Overdraft Long Term 3.50 ACUITE BB+ | Not Applicable (Downgraded & Issuer not co-operating*) 30 Jun 2022 Secured Overdraft Long Term 3.50 ACUITE BBB (CE) | Not Applicable (Downgraded & Issuer not co-operating*) 01 Apr 2021 Secured Overdraft Long Term 3.50 ACUITE AA (CE) | Stable (Assigned)

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Annexure - Details of instruments rated

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating Doha Bank Not avl. / Not appl. Secured Overdraft Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 3.50 Simple Not Applicable|Withdrawn

Contacts

Analytical Details	Contact Details
Mohit Jain Senior Vice President - Rating Operations Tel: 022–49294017 mohit.jain@acuite.in Abhishek Singh Analyst - Rating Operations Tel: 022-49294065 abhishek.s@acuite.in	Contact details exclusively for investors and lenders Mob: +91 8591310146 Email ID: analyticalsupport@acuite.in Tel: 022-49294011 rating.desk@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.