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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 20.00 | ACUITE D | Reaffirmed | Issuer not co-operating* | - |
Bank Loan Ratings | 42.50 | - | ACUITE D | Reaffirmed | Issuer not co-operating* |
Total Outstanding | 62.50 | - | - |
Total Withdrawn | 0.00 | - | - |
* The issuer did not co-operate; based on best available information. |
Rating Rationale |
Acuité has reaffirmed the long-term rating of ‘ACUITE D’ (read as ACUITE D) and the short-term rating of ‘ACUITE D’ (read as ACUITE D) on the Rs. 62.50 crore bank facilities of Swastik Copper Private Limited (SCPL). The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information. |
About the Company |
Jaipur based Swastik Copper Private Limited (SCPL) was incorporated in 1993 by Mr. Sandeep Jain who was supported by his father, Late Shri Shashi Kumar Jain. SCPL is engaged in manufacturing and distribution of power transformers ranging from 16 KVA 11 KV Class to 10 MVA 33 KV Class. The manufacturing unit is situated in Sitapura Industrial Area of Jaipur with a production capacity of 20000 transformers per annum. |
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. |
Limitation regarding information availability |
Rating Sensitivity |
"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 |
Other Factors affecting Rating |
None |
Particulars | Unit | FY 24 (Actual) | FY 23 (Actual) |
Operating Income | Rs. Cr. | 43.81 | 28.10 |
PAT | Rs. Cr. | (48.52) | (3.21) |
PAT Margin | (%) | (110.76) | (11.43) |
Total Debt/Tangible Net Worth | Times | (0.81) | (3.37) |
PBDIT/Interest | Times | (3006.25) | (244.89) |
Status of non-cooperation with previous CRA |
Not Applicable |
Any other information |
None |
Applicable Criteria |
• Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm |
Note on complexity levels of the rated instrument |
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* The issuer did not co-operate; based on best available information. |
Contacts |
About Acuité Ratings & Research |
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