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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 54.82 | ACUITE B+ | Downgraded | Issuer not co-operating* | - |
| Bank Loan Ratings | 5.18 | - | ACUITE A4 | Reaffirmed | Issuer not co-operating* |
| Total Outstanding | 60.00 | - | - |
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Rating Rationale |
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Acuité has downgraded its long-term rating to 'ACUITE B+' (read as ACUITE B plus) from ‘ACUITE BB-’ (read as ACUITE double B minus) and reaffirmed the short-term rating of 'ACUITE A4' (read as ACUITE A four) to the Rs. 60 Cr. bank facilities of Sri Anu Hospitals Limited(Erstwhile Sri Anu Hospitals Private Limited)(SAHL).
This rating is now flagged as issuer not cooperating on account of information risk and is based on best available information. The rating has been downgraded on account of information risk.
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| About the Company |
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Sri Anu Hospitals Private Limited established by Dr. Gajula Ramesh in 2012 in Vijayawada, Andhra Pradesh, operates a chain of multispeciality hospitals across Vijayawada, with an aggregate bed capacity of over 400 hospital beds. Anu’s recognition as a multispecialty tertiary hospital chain in the healthcare industry is envisioned by its founder.
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| About the Group |
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Anu mybaby hospital, Vijayawada is incorporated on 09-01-2021. It provides treatment for four NICU (Neonatal Intensive care units) facilities namely 1. Obstetrics, 2. Gynaecology 3. Paediatrics 4. Fertility(IVF) Hospital is equipped with the facilities like mobile maternity, vaccination units, emergency ambulance services with built-in bud suits, and mobile unit ICU to transfer sick neonates. It is the only hospital in Krishna district, Andhra Pradesh to provide level four NICU facilities.Hospitals' mobile ICU units serve suburban and rural populations, transferring and caring for pregnant women at their homes. Anu MyBaby Hospital also pioneered new methods of childbirth, such as water births and painless normal delivery. The hospital has a specialist team of neonatologists and paediatricians who use advanced technology to care for newborns and manage newborns who require special and intensive care. It is equipped with one stop women care services under one roof, Gynaecology dealing with high-risk pregnancy, Neonatology and IVF treatment.
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| Unsupported Rating |
| Not Applicable |
| Non-cooperation by the issuer/borrower |
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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 an 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.
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| Limitation regarding information availability |
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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 has endeavoured 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.
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| Rating Sensitivities |
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No information provided by the issuer / available for Acuite to comment upon.
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| Liquidity Position |
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No information provided by the issuer / available for Acuite to comment upon.
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| Outlook |
| Not Applicable |
| Other Factors affecting Rating |
| None |
| Particulars | Unit | FY 22 (Actual) | FY 21 (Actual) |
| Operating Income | Rs. Cr. | 89.98 | 57.57 |
| PAT | Rs. Cr. | (1.18) | 3.48 |
| PAT Margin | (%) | (1.31) | 6.04 |
| Total Debt/Tangible Net Worth | Times | 2.75 | 0.61 |
| PBDIT/Interest | Times | 4.00 | 7.57 |
| Status of non-cooperation with previous CRA |
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Not Applicable
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| Any other information |
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None
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| Applicable Criteria |
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• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm • Consolidation Of Companies: https://www.acuite.in/view-rating-criteria-60.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Service Sector: https://www.acuite.in/view-rating-criteria-50.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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| *Annexure 2 - List of Entities (applicable for Consolidation or Parent / Group / Govt. Support) |
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1. Sri Anu Hospitals Private Limited
2. Anu mybaby Hospital
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Contacts |
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About Acuité Ratings & Research |
