Press Release May 19, 2025 SUPRA STEEL AND POWER PRIVATE LIMITED Rating Downgraded, Reaffirmed, Withdrawn and Issuer not co-operating

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	52.45	ACUITE C | Downgraded & Withdrawn | Issuer not co-operating*	-
Bank Loan Ratings	7.55	Not Applicable | Withdrawn	-
Bank Loan Ratings	5.00	-	ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating*
Total Outstanding	0.00	-	-
Total Withdrawn	65.00	-	-
* The issuer did not co-operate; based on best available information.

Rating Rationale

­­Acuite has downgraded and withdrawn its long-term rating to ‘ACUITE C'(read as ACUITE C) from 'ACUITE BB-' (read as ACUITE double B minus) and reaffirmed the short-term rating to 'ACUITE A4' (read as ACUITE A four) on Rs.57.45 Cr. bank facilities of Supra Steel and Power Private Limited. The rating has been withdrawn on account of the request received from the company and NOCs (No Objection Certificates) received from the respective bankers. Acuite has withdrawn its long-term rating on the Rs.7.55 Cr. without assigning any rating as it is a proposed long term bank facility of Supra Steel and Power Private Limited. The rating has been withdrawn on account of the request received from the company. The rating has been withdrawn as per Acuite's policy of withdrawal of ratings as applicable to the respective instrument/facility. The rating is now flagged as “Issuer Not-Cooperating” and is based on the best information available.  Rationale for Rating The rating has been downgraded on the basis of report from Credit bureau information, which reflected delays in February 2025 in Unsecured business loan and 1-day delay reported in March 2024, June 2024, December 2024, January 2025 and March 2025 in Long term loan.

About the Company

­Supra Steel And Power Private Limited (SSPPL) was established in 2005 by Mr. Shashi Kumar Singh and Mrs. Sandhya Kumari. The company is engaged in the manufacturing of sponge iron and has installed capacity of 200 Tonnes Per Day (TPD). The manufacturing facility is located at Bellary, Karnataka.

Unsupported Rating

­Not Applicable

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 non cooperation 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

This rating is based on information available from sources other than the issuer / borrower (in the absence of information provided by the issuer / borrower) . Acuite endeavoured to gather information about the entity/industry from the public domain. Any rating with the suffix 'Issuer not cooperating' is assigned without any management interaction with the issuer entity or any data / information from the entity. Sometimes this non co-operation by a rated entity may be due to a result of deterioration in the credit risk profile of the entity. 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'

Liquidity Position

­'­No information provided by the issuer / available for Acuite to comment upon'

Outlook: Not Applicable

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Other Factors affecting Rating

­None

Key Financials

Particulars	Unit	FY 24 (Actual)	FY 23 (Actual)
Operating Income	Rs. Cr.	113.75	122.04
PAT	Rs. Cr.	1.59	1.34
PAT Margin	(%)	1.40	1.09
Total Debt/Tangible Net Worth	Times	1.46	1.53
PBDIT/Interest	Times	1.85	2.09

Status of non-cooperation with previous CRA

­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

• 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

­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 27 Nov 2024 Bills Discounting Short Term 5.00 ACUITE A4 (Assigned) Term Loan Long Term 25.00 ACUITE BB- | Stable (Assigned) Cash Credit Long Term 10.00 ACUITE BB- | Stable (Assigned) Term Loan Long Term 4.45 ACUITE BB- | Stable (Assigned) Proposed Long Term Bank Facility Long Term 7.55 ACUITE BB- | Stable (Assigned) Cash Credit Long Term 13.00 ACUITE BB- | Stable (Upgraded from ACUITE B) 07 Nov 2024 Cash Credit Long Term 13.00 ACUITE B (Reaffirmed & Issuer not co-operating*) 11 Aug 2023 Cash Credit Long Term 13.00 ACUITE B (Reaffirmed & Issuer not co-operating*) 17 May 2022 Cash Credit Long Term 13.00 ACUITE B (Reaffirmed & Issuer not co-operating*)

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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 Credable Equentia Financial Services Pvt Ltd Not avl. / Not appl. Bills Discounting Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 5.00 Simple ACUITE A4 | Reaffirmed & Withdrawn | Issuer not co-operating* Axis Bank Not avl. / Not appl. Cash Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 10.00 Simple ACUITE C | Downgraded & Withdrawn | Issuer not co-operating* ( from ACUITE BB- ) ICICI Bank Ltd Not avl. / Not appl. Cash Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 13.00 Simple ACUITE C | Downgraded & Withdrawn | Issuer not co-operating* ( from ACUITE BB- ) Not Applicable Not avl. / Not appl. Proposed Long Term Bank Facility Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 7.55 Simple Not Applicable|Withdrawn Axis Bank Not avl. / Not appl. Term Loan 15 Feb 2023 Not avl. / Not appl. 15 Feb 2028 25.00 Simple ACUITE C | Downgraded & Withdrawn | Issuer not co-operating* ( from ACUITE BB- ) Axis Bank Not avl. / Not appl. Term Loan Not avl. / Not appl. Not avl. / Not appl. 29 Mar 2029 4.45 Simple ACUITE C | Downgraded & Withdrawn | Issuer not co-operating* ( from ACUITE BB- )

* The issuer did not co-operate; based on best available information.

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Contacts

Mohit Jain Senior Vice President - Rating Operations Manvi Khaitan Associate 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.