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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 6.10 | ACUITE B | Downgraded | Issuer not co-operating* | - |
Total Outstanding | 6.10 | - | - |
Total Withdrawn | 0.00 | - | - |
* The issuer did not co-operate; based on best available information. |
Rating Rationale |
Acuité has downgraded the long-term rating to ‘ACUITE B’ (read as ACUITE B) from 'ACUITE B+' (read as ACUITE B plus) on the Rs. 6.10 crore bank facilities of Tech Green Enterprises (TGE) on account of information risk. The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information. |
About the Company |
Tech Green Enterprises established in 2015, is a Haryana-based partnership firm promoted by Mr. Praveen Kumar Binderdev Kamboj and Mr. Chetan Rai Kamboj. The firm is engaged in the manufacturing of laminates used in the furniture industry. Commercial operations commenced from November, 2016. The firm procures raw material such as craft paper, design paper and chemicals (phenol, mylemine, formaldehyde) from Gujarat and sells decorative laminated sheets across Punjab, Haryana, Uttar Pradesh and Orissa. |
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 17 (Actual) | FY 16 (Actual) |
Operating Income | Rs. Cr. | 1.27 | 0.00 |
PAT | Rs. Cr. | 0.18 | 0.00 |
PAT Margin | (%) | 14.11 | 0.00 |
Total Debt/Tangible Net Worth | Times | 1.14 | 0.00 |
PBDIT/Interest | Times | 1.72 | 0.00 |
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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