* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
Rating Rationale
Acuite has downgraded the long-term rating to ‘ACUITE B+’ (read as ACUITE B plus) from ‘ACUITE BB’ (read as ACUITE double B) on the Rs. 48.88 Cr. bank facilities and the short-term rating to ‘ACUITE A4’ (read as ACUITE A four) from ‘ACUITEA4+’ (read as ACUITE A four plus) on the Rs. 0.77 Cr. bank facilities of Welcast India Private Limited.
The rating downgrade is on account of information risk. The rating is now flagged as “Issuer Not-Cooperating” based on the best available information.
About the Company
Welcast India Private Limited (WIPL) is a family run Kolkata-based company, was incorporated in 1997. The company is engaged in manufacturing of municipal castings, agricultural castings and fabricated steel via the manufacturing unit at Uluberia, West Bengal. The Directors of the company are Mr. Ankit Kejriwal, Mr. Ramesh Kumar Kejriwal and Mrs. Saroj Kejriwal.
Unsupported Rating
None
Non-cooperation by the issuer/borrower
Acuité has been requesting for data, information and undertakings from the rated entity for conducting surveillance & reviewof 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 Sensitivities
Potential triggers (individual or collective) for an upward rating action:
"No information provided by the issuer / available for Acuite to comment upon."
Potential triggers (individual or collective) for a downward rating action:
"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."
ACUITE BB | Stable
(Upgraded from ACUITE BB- | Stable)
PC/PCFC
Long Term
6.00
ACUITE BB | Stable
(Assigned)
Bills Discounting
Long Term
15.00
ACUITE BB | Stable
(Upgraded from ACUITE BB- | Stable)
Bills Discounting
Long Term
6.00
ACUITE BB | Stable
(Assigned)
Term Loan
Long Term
2.50
ACUITE BB | Stable
(Upgraded from ACUITE BB- | Stable)
Lender’s Name
ISIN
Facilities
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
Union Bank of India
Not avl. / Not appl.
Bank Guarantee (BLR)
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
0.77
Simple
ACUITE A4 | Downgraded | Issuer not co-operating* ( from ACUITE A4+ )
Union Bank of India
Not avl. / Not appl.
Bills Discounting
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
21.00
Simple
ACUITE B+ | Downgraded | Issuer not co-operating* ( from ACUITE BB )
Union Bank of India
Not avl. / Not appl.
Covid Emergency Line.
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
30 Nov 2026
1.88
Simple
ACUITE B+ | Downgraded | Issuer not co-operating* ( from ACUITE BB )
Union Bank of India
Not avl. / Not appl.
PC/PCFC
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
26.00
Simple
ACUITE B+ | Downgraded | Issuer not co-operating* ( from ACUITE BB )
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
