Brickwork Ratings downgrades the long-term ratings and reaffirms the short-term ratings for the Bank Loan Facilities of Rs. 193.05 Crs. of Broadcast Engineering Consultants India Ltd. based on best available information, as the issuer did not cooperate.
ParticularsFacilities** | Amount (Rs.Crs.) | Tenure | Rating# | ||
---|---|---|---|---|---|
Previous | Present | Previous (15 Feb 2024) |
Present | ||
Fund Based | 83.05 | 83.05 | Long Term |
BWR BB /Stable
ISSUER NOT COOPERATING* /Downgrade |
BWR BB -
/Stable Continues to be in ISSUER NOT COOPERATING* category/Downgraded |
Non Fund Based | 110.00 | 110.00 | Short Term |
BWR A4
ISSUER NOT COOPERATING* /Downgrade |
BWR A4
Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed |
Grand Total | 193.05 | 193.05 | (Rupees One Hundred Ninety Three Crores and Five lakhs Only) |
Based on the best available information, Brickwork Ratings has Downgraded the long-term and reaffirms short-term ratings at BWR BB -/ Stable/ A4 of "Broadcast Engineering Consultants India Ltd." while continuing the ratings in the ISSUER NOT COOPERATING* category.
Brickwork Ratings (BWR) has consistently taken up with the firm to provide financial and operational information for the periodic monitoring and surveillance of the ratings. Despite BWR's best efforts to get at least the minimum required information for a review, the firm has not provided the same. The firm is irregular in the submission of the monthly No Default Statement (NDS) in deviation from the extant regulatory guidelines. Due to the continued lack of management cooperation and in the absence of adequate information from the firm, BWR is unable to assess its financial performance and its ability to service its debt and maintain a valid rating.
The lenders/investors may note to exercise due caution while using the above rating which mentions "Issuer Not Cooperating" since the rating lacks any projections or forward-looking component as it is arrived at based on the best available information without any management/banker's interaction.
LIMITATIONS OF THE RATINGInformation availability risk is a key factor in the assessment of credit risk as generally, non-cooperation by the rated entities to provide required information for a review of the assigned rating may also be accompanied by financial stress. Users of the credit rating should therefore take into account possible deterioration in the credit quality of the rated entity arising from its non-transparency withholding of information required for a review of the rating
ABOUT THE ENTITYMacro Economic Indicator | Sector | Industry | Basic Industry |
---|---|---|---|
Telecommunication | Telecommunication | Telecom - Services | Telecom - Infrastructure |
Broadcast Engineering Consultants India Limited (BECIL), a Mini Ratna Central Public Sector Enterprise (CPSE) was incorporated on 24th March 1995 under the Companies Act, 2013 (erstwhile the Companies Act, 1956) by the Government of India with 100% equity share capital of BECIL held by President of India through Secretary and Joint Secretary of Ministry of Information and Broadcasting.
The board of directors of BECIL consists of Shri George Kuruvilla, Chairman and Managing Director, Shri Jayant Sinha, Additional Secretary & Financial Adviser, Ministry of Information & Broadcasting (Government Nominee), Shri Sanjiv Shankar, Joint Secretary (Broadcasting) & CVO, Ministry of Information & Broadcasting (Government Nominee) and two Independent Directors are Shri B. Thiagarajan and Air Marshal Virender Mohan Khanna (Retd.). All the board of directors come with 30+ years of experience and technical expertise.
The Company was initially set up for providing project consultancy services and turnkey solutions encompassing the entire gamut of radio and television broadcast engineering, establishment of transmission facilities i.e content production facilities, terrestrial, like satellite and cable broadcasting in India and abroad.
The company has now diversified into the fields of Strategic Projects such as Information Communication Technology, Electronic Surveillance (namely CCTV, Access Control, Intrusion, Fire Safety, Hydrants, etc.), Electronic Media content including films, Sentinel Analytics, Counter Drones/UAVs etc. The activities include but are not limited to Supply, Installation, Testing and Commissioning, Consultancy Services, Technical Audit, Media Analysis, R&D, projects pertaining to Digital India, City Surveillance, Safe City, Smart City, Make in India, Made in India, Manufacturing, Audio Video and Data Analysis, Cyber Security, Engineering, Procurement & Construction, Project Management Services, Operation and Maintenance, Manpower Placement, AMC and providing the total turnkey project for the critical information infrastructure.
Note: As per information available as of 2022.
Please refer to the following link for the previous detailed rationale that captures the Key Financials Drivers and their Description, Liquidity Position. Rating Sensitivities, Key Financial Indicators. View Previous Document
Creadit Rating Agency | Status and Reason for Non-Cooparation | Date of Press Release |
---|---|---|
CRISIL | Issuer not cooperating, based on best-available information; Ratings migrated to ‘CRISIL BB/Stable/CRISIL A4+ Issuer not cooperating' | 09Sep2024 |
Nil
RATING HISTORY FOR THE PREVIOUS THREE YEARS (including withdrawal and suspended)Facilities | Current Rating (2025) | 2024 | 2023 | 2022 | |||||
---|---|---|---|---|---|---|---|---|---|
Type | Tenure | Amount (Rs.Crs.) |
Rating | Date | Rating | Date | Rating | Date | Rating |
Fund Based | LT | 83.05 |
BWR BB-/Stable
(Continues to be in ISSUER NOT COOPERATING* category/Downgraded) |
15Feb2024 |
BWR BB Stable
(ISSUER NOT COOPERATING* /Downgrade) |
NA |
NA
|
16Nov2022 |
BWR BBB- Stable
(Assignment) |
Non Fund Based | ST | 110.00 |
BWR A4
(Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed) |
15Feb2024 |
BWR A4
(ISSUER NOT COOPERATING* /Downgrade) |
NA |
NA
|
16Nov2022 |
BWR A3
(Assignment) |
Grand Total | 193.05 | (Rupees One Hundred Ninety Three Crores and Five lakhs Only) |
Analytical Contacts | |
---|---|
Santosh S K Ratings Analyst santosh.sk@brickworkratings.com |
Ambarish HN Senior Manager - Ratings ambarish.hn@brickworkratings.com |
1-860-425-2742 | media@brickworkratings.com |
SL.No. | Name of the Bank/Lender | Type Of Facilities | Long Term(Rs.Crs.) | Short Term(Rs.Crs.) | Total(Rs.Crs.) | Complexity of the Instrument |
---|---|---|---|---|---|---|
1 | Union Bank of India | Over DraftSanctioned | 70.00 | _ | 70.00 | Simple## |
2 | Union Bank of India | Bank GuaranteeSanctioned | _ | 100.00 | 100.00 | Simple## |
3 | Union Bank of India | Letter of CreditSanctioned | _ | 10.00 | 10.00 | Simple## |
4 | Union Bank of India | GECLSanctioned | 13.05 | _ | 13.05 | Simple## |
Total | 83.05 | 110.00 | 193.05 | |||
TOTAL (Rupees One Hundred Ninety Three Crores and Five lakhs Only) |
##BWR complexity levels are meant for educating investors. The BWR complexity levels are available at www.brickworkratings.com / download / ComplexityLevels.pdf. Investors queries can be sent to info@brickworkratings.com.
Instrument | Issue Date | Amount (Rs.Crs) | Coupon Rate (%) | Maturity Date | ISIN Particulars | Complexity of the Instrument |
---|---|---|---|---|---|---|
Nil | Nil | Nil | Nil | Nil | Nil | Nil |
Name of Entity | % Ownership | Extent of consolidation | Rationale for consolidation |
---|---|---|---|
Nil | Nil | Nil | Nil |
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