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| Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
| Bank Loan Ratings | 15.00 | - | ACUITE A4 | Reaffirmed | Issuer not co-operating* |
| Total Outstanding Quantum (Rs. Cr) | 15.00 | - | - |
| Rating Rationale |
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Acuité has reaffirmed the short term rating of ‘ACUITE A4’ (read as ACUITE A four) on the Rs. 15.00 crore bank facilities of United Teleservices Limited (UTL). The rating continues to be flagged as “Issuer Not Cooperating” and is based on best available information. |
| About the Company |
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Kolkata based United Teleservices Limited (UTL) incorporated in 2011 under the directorship of Mr. Mazibur Biswas, Mr. Dilwar Hossain, Mr. Golam Moinuddim and Mrs. Jasmin Mondal. The company is a national distributor of Gionee mobile handsets across West Bengal, Sikkim and Andaman & Nicobar Islands. Prior to Gionee, the company was a distributor of Micromax and Zen phones till 2012. The company has around 45-50 distributors, one central warehouse and 2 sales office. |
| Non-cooperation by the issuer/borrower: |
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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: |
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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 endeavoured 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. |
| Rating Sensitivity |
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No information provided by the issuer / available for Acuite to comment upon. |
| Material Covenants |
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Not Applicable |
| Liquidity Position |
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No information provided by the issuer / available for Acuite to comment upon. |
| Outlook |
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Not Applicable |
| Other Factors affecting Rating |
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Not Applicable |
| Particulars | Unit | FY 22 (Actual) | FY 21 (Actual) |
| Operating Income | Rs. Cr. | 0.00 | 0.00 |
| PAT | Rs. Cr. | (0.36) | (0.60) |
| PAT Margin | (%) | 0.00 | (12332.65) |
| Total Debt/Tangible Net Worth | Times | 3.98 | 3.57 |
| PBDIT/Interest | Times | (3.02) | (1.80) |
| Status of non-cooperation with previous CRA |
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Not Applicable |
| Any other information |
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Acuité is yet to receive the latest No Default Statement (NDS) from the rated entity, despite repeated requests and follow-ups. |
| Applicable Criteria |
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• Trading Entities: https://www.acuite.in/view-rating-criteria-61.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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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. |
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