RATING RATIONALE
09Jul2024

Sunrise Glass Industries Pvt. Ltd.

Brickwork Ratings withdraws the ratings for the Bank Loan Facilities of Rs. 0.00 Crs. of Sunrise Glass Industries Pvt. Ltd.

Particulars
Facilities** Amount (Rs.Crs.) Tenure Rating#
Previous Present Previous
(06 Dec 2023)
Present
Fund Based 25.80 0.00 Long Term BWR B/Stable
Continues to be in ISSUER NOT COOPERATING* category/Downgraded
Withdrawal
Non Fund Based 1.59 0.00 Short Term BWR A4
Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed
Withdrawal
Grand Total 27.39 0.00 (Rupees Zero Crores Only)
#Please refer to BWR website www.brickworkratings.com for definition of the ratings
**Details of Bank Loan facilities,consolidation or instruments are provided in Annexure

RATING ACTION / OUTLOOK

As the company does not require any external rating for their bank loan facilities, The company (Sunrise Glass Industries Pvt. Ltd.) has requested for withdrawal of the ratings assigned to Sunrise Glass Industries Pvt. Ltd., and forwarded the letter showing the closure of the account with SBI Bank. Based on this information, Brickwork Ratings has withdrawn the rating as the Limit is closed by SBI Bank for the bank loan facilities amounting to Rs. 27.39 Crs of Sunrise Glass Industries Pvt. Ltd., The relevant documents are held on record. The withdrawal is in accordance with the Rating Withdrawal Policy of BWR.

ABOUT THE ENTITY
Macro Economic Indicator Sector Industry Basic Industry
Industrials Capital Goods Industrial Products Glass - Industrial

Sunrise Glass Industries Private Limited was founded by Mr. Hasmukh Thakkar in 2010. The company is engaged in manufacturing of Glass Bottles which is used by Food, Pharmaceuticals, Beverages, Soft drinks, Liquors and cosmetic industry. The company’s manufacturing plant is located in Surat and total installed capacity is 225 MT per Annum. Sunrise Glass Industries Private Limited has three group companies namely Vishwa Glass and Ceramics Private Limited, Welsuit Glass and Ceramics Private Limited and Spire Cera Frit Private Limited which are all engaged in manufacturing of ceramics. Mr. Hasmukh Mangaldas, Mr. Ashok Hargun Bhambani and Mr. Hargun Chhataram are the three Promoter Directors of the Company. The promoters and their family members own 100% share capital of the company. 

(Information available as of July 2015)

STATUS OF NON-COOPERATION WITH PREVIOUS CRA

No outstanding ratings with other CRAs 

ANY OTHER INFORMATION

Not Applicable 

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 0.00
Withdrawal
06Dec2023
BWR BStable
(Continues to be in ISSUER NOT COOPERATING* category/Downgraded)
11Nov2022
BWR B+ Stable
(Continues to be in ISSUER NOT COOPERATING* category/Downgraded)
08Oct2021
BWR BB- Stable
(Downgrade/ISSUER NOT COOPERATING*)
Non Fund Based ST 0.00
Withdrawal
06Dec2023
BWR A4
(Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed)
11Nov2022
BWR A4
(Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed)
08Oct2021
BWR A4
(Reaffirmation/ISSUER NOT COOPERATING*)
Grand Total 0.00 (Rupees Zero Crores Only)
Hyperlink/Reference to applicable Criteria
Analytical Contacts

Md Saif Ali Khan

Rating Analyst saifali.k@brickworkratings.com

Nagaraj K

Director - Ratings Board : +91 80 4040 9940 nagaraj.ks@brickworkratings.com
1-860-425-2742 | media@brickworkratings.com
Sunrise Glass Industries Pvt. Ltd.
ANNEXURE-I
Details of Bank Facilities rated by BWR
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 _ _ 0.00 Simple**
2 State Bank Of India (SBI) Cash CreditSanctioned _ _ 0.00 Simple**
3 State Bank Of India (SBI) Letter of CreditSanctioned _ _ 0.00 Simple**
Total 0.00 0.00 0.00
TOTAL (Rupees Zero Crores 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.

ANNEXURE-II
INSTRUMENT DETAILS

InstrumentIssue DateAmount (Rs.Crs)Coupon Rate (%)Maturity DateISIN ParticularsComplexity of the Instrument
NilNilNilNilNilNilNil

ANNEXURE-III
List of entities consolidated

Name of Entity% OwnershipExtent of consolidationRationale for consolidation
NilNilNilNil

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