ACUITE BB- | Downgraded | Issuer not co-operating*
-
RBI
Bank Loan Ratings
0.00
34.26
-
ACUITE A4 | Downgraded | Issuer not co-operating*
RBI
Total Outstanding
0.00
67.52
-
-
-
Total Withdrawn
0.00
0.00
-
-
-
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
Rating Rationale
Acuite has downgraded the long-term rating to ‘ACUITE BB-’(read as ACUITE double B minus) from ‘ACUITE BB+’ (read as ACUITE Double B Plus) on the Rs. 33.26 crore bank facilities and the short-term rating to ‘ACUITE A4' (read as ACUITE A four) from 'ACUITE A4+' (read as ACUITE A four plus) on the Rs. 34.26 crore bank facilities of Suyash Chemical and Fertilizer Private Limited.
The rating has been downgraded on account of information risk and the company has not provided latest No Default Statement (NDS) for last 3 months consecutively ended September 2026.
The rating is now flagged as “Issuer Not-Cooperating” on account of information risk and is based on the best available information.
About the Company
Uttar Pradesh based; Suyash Chemical and Fertilizer Private Limited (SCFPL) was incorporated in 1994 as a private limited company. SCFPL The company has two business divisions i.e., paper business (contributing 75% of its revenues), wherein it manufactures mainly kraft papers and tissue paper at its facility in Basti; and balance from agri business, producing wheat and related products such as flour, maida, suji etc. at Gorakhpur (U.P.). Directors of Suyash Chemical and Fertilizer Private Limited are Mr. Ramji Jaiswal, Mr. Manish Jaiswal, Ms. Shakuntala Jaiswal, Ms. Sarla Jaiswal and Mr. Suyash Jaiswal.
Unsupported Rating
Not Applicable
Non-cooperation by the issuer/borrower
Acuité has been requesting for No Default Statements (NDS); however, despite multiple requests; the Company’s management has remained non-cooperative and not submitted the NDS for the preceding 03 consecutive months. 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
Rating Sensitivities
Potential triggers (individual or collective) for an upward rating action:
"No information provided by the issuer / available for Acuite to comment upon."
Potential triggers (individual or collective) for a downward rating action:
"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."
ACUITE A4 | Downgraded | Issuer not co-operating* ( from ACUITE A4+ )
Punjab National Bank
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
23.63
Simple
ACUITE BB- | Downgraded | Issuer not co-operating* ( from ACUITE BB+ )
Punjab National Bank
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
3.21
Simple
ACUITE BB- | Downgraded | Issuer not co-operating* ( from ACUITE BB+ )
Punjab National Bank
Not avl. / Not appl.
Covid Emergency Line.
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
30 Dec 2026
1.87
Simple
ACUITE BB- | Downgraded | Issuer not co-operating* ( from ACUITE BB+ )
Punjab National Bank
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
09 May 2031
4.55
Simple
ACUITE BB- | Downgraded | Issuer not co-operating* ( from ACUITE BB+ )
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
