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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 0.60 | - | ACUITE A4 | Reaffirmed | Issuer not co-operating* |
| Bank Loan Ratings | 18.72 | ACUITE BB- | Reaffirmed | Issuer not co-operating* | - |
| Total Outstanding Quantum (Rs. Cr) | 19.32 | - | - |
| Total Withdrawn Quantum (Rs. Cr) | 0.00 | - | - |
| Rating Rationale |
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Acuité has reaffirmed the long term rating of ‘ACUITE BB-’ (read as ACUITE double B minus) and short term rating of ‘ACUITE A4’( read as ACUITE A four) on the Rs.19.32 crore bank facilities of Suprabha Industries Limited (SIL). The rating is now flagged as “Issuer Not-Cooperating” based on account of information risk. The team had been following up continuously with the client for the revised balance sheet, but haven’t received it yet. The team has received satisfactory feedback from the bankers. |
| About the Company |
| Incorporated in 1986, Suprabha Industries Limited (SIL) is Lucknow based company engaged in manufacturing of automobile parts mainly for commercial vehicles for Tata Motors Limited’s plant in Lucknow. Tata Motors accounts about 60 percent of their revenue. Apart from Tata Motors, they cater to customers including Omax Auto Limited and Claas India Private Limited. The company is promoted by Mr. Devendra Kumar Mantri, Mrs. Tanuja Mantri and Mr. Shashankdhar Mantri. The manufacturing unit is situated in Lucknow spread over 5 acres of land. Present directors are Mr. Devendra Kumar Mantri, Ms. Tanuja Mantri, Mr. Shashankdhar Mantri, Mr. Bal Kishan Toshniwal and Mr. Pradip Kumar Saraogi. |
| 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. Acuité believes that information risk is a critical component in such ratings, and noncooperation by the issuer along with 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. |
| Limitation regarding information availability |
| 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 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. |
| Rating Sensitivities |
| No information provided by the issuer / available for Acuite to comment upon. |
| Material Covenants |
| None. |
| Liquidity Position |
| No information provided by the issuer / available for Acuite to comment upon. |
| Outlook |
| Not Applicable. |
| Other Factors affecting Rating |
| None |
| Key Financials: |
| The rated entity has not shared the latest financial statements despite repeated requests. |
| Status of non-cooperation with previous CRA |
| None. |
| Any other information |
| Acuité is yet to receive the latest No Default Statement (NDS) from the rated entity, despite repeated requests and follow-ups |
| Applicable Criteria |
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• Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.htm |
| Note on Complexity Levels of the Rated Instrument |
| https://www.acuite.in/view-rating-criteria-55.htm |
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