Product Quantum (Rs. Cr) Long Term Rating Short Term Rating
Bank Loan Ratings 6.60 ACUITE D | Reaffirmed | Issuer not co-operating* -
Bank Loan Ratings 1.40 - ACUITE D | Reaffirmed | Issuer not co-operating*
Total Outstanding 8.00 - -
Total Withdrawn 0.00 - -
* The issuer did not co-operate; based on best available information.
 
Rating Rationale

A­cuité has reaffirmed the long-term rating of ‘ACUITE D’ (read as ACUITE D) and the short-term rating of ‘ACUITE D’ (read as ACUITE D) on the Rs. 8.00 crore bank facilities of VHS Mechatronics Services Private Limited (VMSPL). The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information.


About the Company

­VHS Mechatronics Services Private Limited (­VMSPL), incorporated in 1996 by Mr. Sivaraman Nair Krishnaprasad and Mr. Krishnaprasad Sivakumar as founder directors in Chennai is engaged in rendering Annual maintenance services and repair works of CNC cutting machines.

 
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 23 (Actual) FY 22 (Actual)
Operating Income Rs. Cr. 8.25 7.91
PAT Rs. Cr. 0.20 0.21
PAT Margin (%) 2.37 2.69
Total Debt/Tangible Net Worth Times (4.51) (4.28)
PBDIT/Interest Times 1.70 1.80
Status of non-cooperation with previous CRA
­Not Applicable
 
Any other information
­None
 
Applicable Criteria
• Service Sector: https://www.acuite.in/view-rating-criteria-50.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

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook
11 Jan 2024 Term Loan Long Term 2.80 ACUITE D (Reaffirmed & Issuer not co-operating*)
Working Capital Term Loan Long Term 1.60 ACUITE D (Reaffirmed & Issuer not co-operating*)
Cash Credit Long Term 2.00 ACUITE D (Reaffirmed & Issuer not co-operating*)
Proposed Long Term Loan Long Term 0.20 ACUITE D (Reaffirmed & Issuer not co-operating*)
Bank Guarantee (BLR) Short Term 1.00 ACUITE D (Reaffirmed & Issuer not co-operating*)
Letter of Credit Short Term 0.40 ACUITE D (Reaffirmed & Issuer not co-operating*)
21 Oct 2022 Cash Credit Long Term 2.00 ACUITE D (Reaffirmed & Issuer not co-operating*)
Proposed Term Loan Long Term 0.40 ACUITE D (Reaffirmed & Issuer not co-operating*)
Working Capital Term Loan Long Term 1.60 ACUITE D (Reaffirmed & Issuer not co-operating*)
Letter of Credit Short Term 0.20 ACUITE D (Reaffirmed & Issuer not co-operating*)
Bank Guarantee Short Term 1.00 ACUITE D (Reaffirmed & Issuer not co-operating*)
Term Loan Long Term 2.80 ACUITE D (Reaffirmed & Issuer not co-operating*)
* The issuer did not co-operate; based on best available information.
­

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum
(Rs. Cr.)
Complexity Level Rating
Bank of Maharashtra Not avl. / Not appl. Bank Guarantee (BLR) Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 1.00 Simple ACUITE D | Reaffirmed | Issuer not co-operating*
Bank of Maharashtra Not avl. / Not appl. Cash Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 2.00 Simple ACUITE D | Reaffirmed | Issuer not co-operating*
Bank of Maharashtra Not avl. / Not appl. Letter of Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 0.40 Simple ACUITE D | Reaffirmed | Issuer not co-operating*
Not Applicable Not avl. / Not appl. Proposed Long Term Loan Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 0.20 Simple ACUITE D | Reaffirmed | Issuer not co-operating*
Bank of Maharashtra Not avl. / Not appl. Term Loan Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 2.80 Simple ACUITE D | Reaffirmed | Issuer not co-operating*
Bank of Maharashtra Not avl. / Not appl. Working Capital Demand Loan (WCDL) Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 1.60 Simple ACUITE D | Reaffirmed | Issuer not co-operating*
* The issuer did not co-operate; based on best available information.
­

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