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Product | Quantum (Rs. Cr) | Long Term Rating | Short Term Rating |
Bank Loan Ratings | 2.50 | ACUITE B | Downgraded | Issuer not co-operating* | - |
Bank Loan Ratings | 12.50 | - | ACUITE A4 | Reaffirmed | Issuer not co-operating* |
Total Outstanding | 15.00 | - | - |
Total Withdrawn | 0.00 | - | - |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) and reaffirmed the short term rating of ‘ACUITE A4’ (read as ACUITE A four) on the Rs. 15.00 crore bank facilities of Ved Prakash and Sons Lumbers 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 |
Ved Prakash and Sons Lumbers Private Limited (VPSLPL) is Haryana based company incorporated in the year 2009 engaged in sawing, trading of timber. The Zamindara group consists of ZTPL, and Ved Prakash & Sons Lumbers Private Limited (VPSLPL) incorporated in 2009. Both are engaged in the same line of business. The group mainly imports timber logs from Malaysia, New Zealand, Solomon Islands and Singapore and sells to traders, wholesalers, civil engineering companies and construction companies in Gujarat, Punjab and Haryana. The group is promoted by Mr Shalesh Kamboj and Mr Amit Kamboj. |
About the Group |
The Haryana based Zamindara group consists of Zamindara Timber Private Limited (ZTPL) established in 1975 as proprietorship concern and later in the year 2013 converted to private limited company and Ved Prakash and Sons Lumbers Private Limited (VPSLPL) incorporated in 2009. Both are engaged in the same line of business. The group mainly imports timber logs from Malaysia, New Zealand, Solomon Islands and Singapore and sells to traders, wholesalers, civil engineering companies and construction companies in Gujarat, Punjab and Haryana. The group is promoted by Mr. Sailash Kamboj. and Mr. Amit Kamboj. |
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. 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. |
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. | 69.52 | 78.03 |
PAT | Rs. Cr. | 0.61 | 0.45 |
PAT Margin | (%) | 0.88 | 0.58 |
Total Debt/Tangible Net Worth | Times | 2.64 | 2.99 |
PBDIT/Interest | Times | 1.47 | 1.49 |
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 • Consolidation Of Companies: https://www.acuite.in/view-rating-criteria-60.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 |
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