­SVR Drugs Private Limited (SVRDPL) is a Visakhapatnam based company incorporated in 2010 which is a part of SVR Group. The company is engaged in manufacturing of bulk drug intermediaries and Active Pharmaceutical ingredients (APIs). 

­SVR Laboratories Private Limited (SVRLPL) is a Hyderabad based company incorporated in the year 2003. It is engaged manufacturing of bulk drug intermediaries. SVR Drugs Private Limited (SVRDPL) is a Visakhapatnam based company incorporated in the year 2010. It is engaged in the business of manufacturing of bulk drug intermediaries and Active Pharmaceutical ingredients (APIs). SVRLPL and SVRDPL together referred as SVR Group (SVRG), is promoted by Mr. Nageswara Rao, Mr. K.S Chowdary, Ms. Naga Durga who have more than three decades of experience in the Pharma industry. 

­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 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. 

­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. 

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

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

­Not Applicable

­CRISIL, vide its press release dated May 31, 2022 had denoted the rating of SVR Drugs Private Limited as ‘CRISIL B; Issuer not cooperating’ on account of lack of adequate information required for monitoring of ratings.  

ICRA, vide its press release dated October 25, 2022  had denoted the rating of SVR Drugs Private Limited as ‘ICRA B+; Issuer not cooperating’ on account of lack of adequate information required for monitoring of ratings.  

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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.