­RMPL was incorporated in 1979 with 12,000 spindles and progressively expanded to its current capacity of 39,856 spindles and 7,040 rotors. The company is closely held by the promoters and its family members, who have close to over six decades of experience in the industry. RMPL is engaged in the production of cotton yarn in the medium and finer counts range of 6’s-30’s 60’s and 90’s. It has two manufacturing facilities in Palani (Tamilnadu). RMPL had installed windmill capacity of 1.50 MW for captive use. At present, the company’s operations are actively managed by Mr J. Thulasidharan, Managing Director, and his daughter, Ms. Nikenantha Thulasidharan and son, Mr Sailendra Thulasidharan 

­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 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 endeavored 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." 

­None

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

CARE has migrated its ratings to 'B+/A4 (reaffirmed and NCI)' in press release dated 10-11-2021. The rating continues to be NCI from 02-04-2018. India Ratings has migrated its ratings to 'BB/A4+ (Issuer not cooperating)' in the press release dated 16-03-2022.

Acuite is yet to receive latest NDS from TRMPL.

­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.