­Tirupati Foam Limited, incorporated in 1986, is engaged in manufacturing of Polyurethane (PU) foam and their articles such as mattress, cushions, pillow amongst others. The company sells its products under the brand name 'Sweet Dream'. The registered office of the company is located at Ahmedabad, Gujarat and the manufacturing units are located at Khatraj, Gujarat and Noida, Uttar Pradesh. The company is promoted by Mr. Roshan P. Sanghavi (Managing Director) and other directors Mr. Satishkumar A. Mehta and Mr. Deepakkumar T. Mehta who possess more than three decades of extensive experience in the PU foam 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 non-cooperation 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 ratingis based.

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

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

­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.