Press Release V K PACK WELL PRIVATE LIMITED October 06, 2023 Rating Withdrawn

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	30.00	Not Applicable | Withdrawn	-
Bank Loan Ratings	5.00	-	Not Applicable | Withdrawn
Total Outstanding Quantum (Rs. Cr)	0.00	-	-
Total Withdrawn Quantum (Rs. Cr)	35.00	-	-

Rating Rationale

­Acuité has withdrawn the rating on the Rs. 35.00 crore bank facilities of V K Pack Well Private Limited (VKPL). The rating has been withdrawn on Acuite's policy of withdrawal of ratings. The rating has been withdrawn on account of the request received from the company, and the NDC received from the banker. Since the loan availed by the company has been repaid, the rating has been withdrawn.

About the Company

­­Kanpur-based V K Pack Well Private Limited VKPL, incorporated in 2007 by Mr. Vikesh Kumar Gupta and Mrs. Sandhya Rani Gupta, is engaged in the manufacturing of HDPE Laminated Woven Lay Flat Tube for Irrigation Purpose, HDPE Flexible Main Line for Drip, HDPE Woven Beds for Vermiculture, Geo-membrane for Water Proof Lining and HDPE Tarpaulins

Non-cooperation by the issuer/borrower:

­Not Applicable

Limitation regarding information availability:

­Not Applicable

About the Rated Entity - Key Financials

­Not applicable

Rating Sensitivity

­Not Applicable

All Covenants

­None

Liquidity Position

­Not Applicable

Outlook: Not Applicable­

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Other Factors affecting Rating

­None

Status of non-cooperation with previous CRA

­None

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

­­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

Rating History

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook 11 Oct 2022 Proposed Cash Credit Long Term 10.00 ACUITE B+ (Downgraded and Issuer not co-operating*) Term Loan Long Term 10.00 ACUITE B+ (Downgraded and Issuer not co-operating*) Proposed Letter of Credit Short Term 2.00 ACUITE A4 (Downgraded and Issuer not co-operating*) Cash Credit Long Term 10.00 ACUITE B+ (Downgraded and Issuer not co-operating*) Letter of Credit Short Term 2.00 ACUITE A4 (Downgraded and Issuer not co-operating*) Proposed Bank Facility Short Term 1.00 ACUITE A4 (Downgraded and Issuer not co-operating*) 15 Jul 2021 Letter of Credit Short Term 2.00 ACUITE A4+ ( Issuer not co-operating*) Proposed Cash Credit Long Term 10.00 ACUITE BB- (Downgraded and Issuer not co-operating*) Term Loan Long Term 10.00 ACUITE BB- (Downgraded and Issuer not co-operating*) Proposed Letter of Credit Short Term 2.00 ACUITE A4+ ( Issuer not co-operating*) Cash Credit Long Term 10.00 ACUITE BB- (Downgraded and Issuer not co-operating*) Proposed Bank Facility Short Term 1.00 ACUITE A4+ ( Issuer not co-operating*) 15 Apr 2020 Proposed Letter of Credit Short Term 2.00 ACUITE A4+ (Issuer not co-operating*) Term Loan Long Term 10.00 ACUITE BB (Downgraded and Issuer not co-operating*) Proposed Cash Credit Long Term 10.00 ACUITE BB (Downgraded and Issuer not co-operating*) Letter of Credit Short Term 2.00 ACUITE A4+ (Issuer not co-operating*) Proposed Bank Facility Short Term 1.00 ACUITE A4+ (Issuer not co-operating*) Cash Credit Long Term 10.00 ACUITE BB (Downgraded and Issuer not co-operating*)

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Annexure - Details of instruments rated

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating Punjab National Bank Not Applicable Cash Credit Not Applicable Not Applicable Not Applicable 10.00 Simple Not Applicable|Withdrawn Punjab National Bank Not Applicable Letter of Credit Not Applicable Not Applicable Not Applicable 2.00 Simple Not Applicable|Withdrawn Not Applicable Not Applicable Proposed Cash Credit Not Applicable Not Applicable Not Applicable 10.00 Simple Not Applicable|Withdrawn Not Applicable Not Applicable Proposed Letter of Credit Not Applicable Not Applicable Not Applicable 2.00 Simple Not Applicable|Withdrawn Not Applicable Not Applicable Proposed Short Term Bank Facility Not Applicable Not Applicable Not Applicable 1.00 Simple Not Applicable|Withdrawn Punjab National Bank Not Applicable Term Loan Not available Not available Not available 10.00 Simple Not Applicable|Withdrawn

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Contacts

Analytical Details	Contact Details
Mohit Jain Senior Vice President - Rating Operations Tel: 022–49294017 mohit.jain@acuite.in Abhishek Singh Analyst - Rating Operations Tel: 022-49294065 abhishek.s@acuite.in	Contact details exclusively for investors and lenders Mob: +91 8069217456 Email ID: analyticalsupport@acuite.in Tel: 022-49294011 rating.desk@acuite.in

About Acuité Ratings & Research

Acuité is a full-service Credit Rating Agency registered with the Securities & Exchange Board of India (SEBI). The company received RBI Accreditation as an External Credit Assessment Institution (ECAI) for Bank Loan Ratings under BASEL-II norms in the year 2012. Acuité has assigned ratings to various securities, debt instruments and bank facilities of entities spread across the country and across a wide cross section of industries. It has its Registered and Head Office in Kanjurmarg, Mumbai. Disclaimer: An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy, sell or hold any security. Ratings assigned by Acuité are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité, in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind, arising from the use of its ratings. Ratings assigned by Acuité are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité. Please visit https://www.acuite.in/faqs.htm to refer FAQs on Credit Rating.