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Acuite has withdrawn its long-term rating on Rs.3.00 Cr. and short-term rating on Rs. 22.00 Cr. bank facilities of Tegh Cables Private Limited without assigning any rating as the instrument is fully repaid. The rating is being withdrawn on account of request received from the issuer, satisfaction of index of charges and No Dues Certificate (NDC) received from the lenders.
The rating withdrawal is in accordance with Acuite’s policy on withdrawal of ratings as applicable to the respective facility / instrument.
Acuite has received latest information from the issuer along with latest No Default Statement, leading to transition from Issuer Not Co-operating to Co-operative issuer.
About the Company
The company was incorporated in 1980. Tegh Cables Private Limited (TCPL) is an authorized all India distributor of Polycab Wires Private Limited. The company has 4 offices (Mumbai, Surat, Jaipur and Delhi). Mumbai being the head office the other 3 are sales offices. The company is managed by Mr Surinder Singh Atal, Mrs Gurdeep Kaur Atal, Mr Banpreetsingh Atal, Mr Karandeep Atal, Mrs Saheba Kaur Kohli and Mrs Komal Harjeet Singh.
Unsupported Rating
Not Applicable
Analytical Approach
Not Applicable
Key Rating Drivers
Strengths
Not Applicable
Weaknesses
Not Applicable
Rating Sensitivities
Potential triggers (individual or collective) for an upward rating action:
Not Applicable
Liquidity Position
Not Applicable
Outlook
Not Applicable
Other Factors affecting Rating
None
Particulars
Unit
FY 26 (Provisional)
FY 25 (Actual)
Operating Income
Rs. Cr.
218.52
197.67
PAT
Rs. Cr.
36.82
22.01
PAT Margin
(%)
16.85
11.14
Total Debt/Tangible Net Worth
Times
0.11
0.13
PBDIT/Interest
Times
92.60
53.43
Status of non-cooperation with previous CRA (if applicable)
ACUITE B-
(Downgraded & Issuer not co-operating* from ACUITE B)
27 May 2024
Channel/Dealer/Vendor Financing
Short Term
18.00
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Letter of Credit
Short Term
4.00
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
3.00
ACUITE B
(Downgraded & Issuer not co-operating* from ACUITE B+)
27 Feb 2023
Channel/Dealer/Vendor Financing
Short Term
18.00
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Letter of Credit
Short Term
4.00
ACUITE A4
(Reaffirmed & Issuer not co-operating*)
Cash Credit
Long Term
3.00
ACUITE B+
(Reaffirmed & Issuer not co-operating*)
Lender’s Name
ISIN
Facilities
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
KOTAK MAHINDRA BANK LIMITED
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
3.00
Simple
ACUITE Not Applicable | Withdrawn
State Bank of India
Not avl. / Not appl.
Channel/Dealer/Vendor Financing
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
18.00
Simple
ACUITE Not Applicable | Withdrawn
KOTAK MAHINDRA BANK LIMITED
Not avl. / Not appl.
Letter of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
4.00
Simple
ACUITE Not Applicable | Withdrawn
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.
Contacts
List of instruments and names of regulators of the instruments
