Brickwork Ratings reaffirms the long-term & short-term ratings for the Bank Loan Facilities of Rs. 36.64 Crs. of Vinod Kumar Shukla Constructions Pvt Ltd based on best available information, as the issuer did not cooperate.
ParticularsFacilities** | Amount (Rs.Crs.) | Tenure | Rating# | ||
---|---|---|---|---|---|
Previous | Present | Previous (31 Oct 2023) |
Present | ||
Fund Based | 15.64 | 15.64 | Long Term |
BWR C
Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed |
BWR C
Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed |
Non Fund Based | 21.00 | 21.00 | Short Term |
BWR A4
Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed |
BWR A4
Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed |
Grand Total | 36.64 | 36.64 | (Rupees Thirty Six Crores and Sixty Four lakhs Only) |
BWR has reaffirms the long-term & short-term rating to BWR C/A4 (Issuer Not Cooperating) based on the best available information as the issuer did not cooperate. The rating is due for a review in Oct 2024. BWR took up with the issuer to provide the required information over emails and through telephone calls. Despite the best efforts of BWR to get the minimum required information for a review, the entity has not provided the same. In the absence of adequate information from the company, BWR is unable to assess the concern’s financial performance. Besides, the No Default Statement has not been submitted by the client every month, despite follow-up & no banker feedback has been received. Thus, BWR has reaffirms the long-term & short-term rating to BWR C/A4 and continues the ratings under the “Issuer Not Cooperating” category.
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 RATING
Information availability risk is a key factor in the assessment of credit risk as generally, noncooperation by the rated entities to provide the required information for a review of the assigned rating may also be accompanied by financial stress. Users of the credit ratings should therefore take into account the possible deterioration in the credit quality of the rated entity arising from its non-transparency and withholding of information required for a review of the rating.
ABOUT THE ENTITYMacro Economic Indicator | Sector | Industry | Basic Industry |
---|---|---|---|
Industrials | Construction | Construction | Civil Construction |
Vinod Kumar Shukla Construction Private Ltd was incorporated in Gwalior, Madhya Pradesh on 31st January 1996. The company mainly focuses on the construction of roads and bridges. It also constructs dams, flyovers, railways over bridges, etc. They are actively involved in all verticals and models within road construction in India whether it's the traditional route based on a payment basis (EPC) or the modern model of PPP (Public-Private Partnership) viz. BOT, DBFOT, Annuity, and OMT projects.
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
Not Applicable
ANY OTHER INFORMATIONNIL
RATING HISTORY FOR THE PREVIOUS THREE YEARS (including withdrawal and suspended)Facilities | Current Rating (2024) | 2023 | 2022 | 2021 | |||||
---|---|---|---|---|---|---|---|---|---|
Type | Tenure | Amount (Rs.Crs.) |
Rating | Date | Rating | Date | Rating | Date | Rating |
Fund Based | LT | 15.64 |
BWR C
(Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed) |
31Oct2023 |
BWR C
(Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed) |
14Oct2022 |
BWR C
(Continues to be in ISSUER NOT COOPERATING* category/Downgraded) |
01Oct2021 |
BWR B+ Stable
(Downgrade/ISSUER NOT COOPERATING*) |
Non Fund Based | ST | 21.00 |
BWR A4
(Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed) |
31Oct2023 |
BWR A4
(Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed) |
14Oct2022 |
BWR A4
(Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed) |
01Oct2021 |
BWR A4
(Reaffirmation/ISSUER NOT COOPERATING*) |
Grand Total | 36.64 | (Rupees Thirty Six Crores and Sixty Four lakhs Only) |
Analytical Contacts | |
---|---|
Sandeep Jangra Rating Analyst sandeep.j@brickworkratings.com |
Hari Kishan Yadav Associate Director - Ratings hari.ky@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 | State Bank Of India (SBI) | Term LoanOut-standing | 6.00 | _ | 6.00 | Simple## |
2 | State Bank Of India (SBI) | Dropline ODSanctioned | 9.64 | _ | 9.64 | Simple## |
3 | State Bank Of India (SBI) | Bank GuaranteeSanctioned | _ | 21.00 | 21.00 | Simple## |
Total | 15.64 | 21.00 | 36.64 | |||
TOTAL (Rupees Thirty Six Crores and Sixty Four 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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