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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 10.00 | ACUITE B | Downgraded | Issuer not co-operating* | - |
Total Outstanding | 10.00 | - | - |
Total Withdrawn | 0.00 | - | - |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.10.00 crore bank facilities of Vandana Trailors and Body MFG Private Limited 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 |
Established in 2008 by Mr. Trilok Chand Jaiswal and family, based in Chhattisgarh, Vandana Trailors and Body MFG Private Limited is engaged in manufacturing of Tip Trailor, Tipper Body, Flat Trailor and Box Trailor with the installed capacity of 1200 pieces per annum in the state of Chhattisgarh. |
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 24 (Actual) | FY 23 (Actual) |
Operating Income | Rs. Cr. | 177.13 | 105.05 |
PAT | Rs. Cr. | 3.33 | 1.73 |
PAT Margin | (%) | 1.88 | 1.65 |
Total Debt/Tangible Net Worth | Times | 1.23 | 0.52 |
PBDIT/Interest | Times | 5.74 | 4.69 |
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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