RATING RATIONALE
13May2026
Anutham Hotel and Resort
Brickwork Ratings reaffirms the long-term rating at "BWR BB-/Stable" and simultaneously withdraws the rating for the Bank Loan Facilities of Rs. 13.39 Crs. of Anutham Hotel and Resort
Particulars| Facilities/Instruments** | Amount (Rs.Crs.) | Tenure | Rating# | ||
|---|---|---|---|---|---|
| Previous | Present | Previous (02 May 2025) |
Present | ||
| Fund Based | 13.39 | 13.39 | Long Term |
BWR BB-/Stable
Assignment |
BWR BB -
/Stable Reaffirmation/Withdrawal |
| Grand Total | 13.39 | 13.39 | (Rupees Thirteen Crores and Thirty Nine lakhs Only) | ||
**Complete details of Bank facilities / NCDs is provided in Annexure-I
RATING ACTION / OUTLOOK / WITHDRAWAL
Brickwork Ratings (BWR) reaffirms and simultaneously withdraws the ratings of "Anutham Hotel and Resort" based on their request for rating withdrawal. The company was rated by the BWR on 02May2025 wherein BWR had assigned the long-term rating of "BWR BB-/Stable" for the bank loan facilities of Rs. 13.39 Cr.
The Company has submitted a request letter for rating withdrawal, along with a No Objection Certificate (NOC) from Jammu and Kashmir Bank, which is held on record. The banker confirms that they have No Objection in the withdrawal of Credit Rating of the company assigned by BWR. Hence, in accordance with extant regulatory guidelines, considering the receipt of satisfactory banker feedback on firm's conduct of account, regular submission on NDS by the firm and as per BWR Rating Withdrawal Policy, the rating of the said instrument is now as follows: BWR reaffirms the long-term rating at “BWR BB-/Stable” and simultaneously withdraws the rating.
KEY COVENANTS OF THE INSTRUMENT / FACILITY RATEDThe terms of sanction include standard covenants normally stipulated for such facilities.
KEY RATING DRIVERS
Credit Strengths:
-
Promoter experience :
The proprietor Mr. Sanjeev Prabhakar has an extensive 35 years of business experience in hospitality showcasing expertise in managing operations, helped in building relationship with suppliers and obtaining customers satisfaction.
-
Locational Advantage :
The firm being located in the region of Jammu which is one among the tourist locations of the country. This hotel is located opposite Audi Showroom in Jammu which is 6 K.M. away from Jammu Airport and Jammu Tawi Railway Station. It is also close to Gurudwara Digiana Ashram and Wave Mall. The prime location enhances the overall guest experience and makes the hotel a preferred choice for travelers
-
Marginal decrease in the Operating Income :
The operating income of the firm has declined from Rs. 13.80 Cr. in FY2023 to Rs. 12.28 Cr. in FY2024, and further to Rs. 11.72 Cr. in provisional FY2025. This decline is attributed to a reduction in the sale of food products in restaurants over the past few years. The primary reason for the decrease in revenue is the emergence of new restaurants in the vicinity, intensifying competition. If this trend continues, it may adversely impact the firm's operating cycle and overall profitability.
-
Constitution Risk :
Since it is a proprietorship firm, Withdrawal of capital by the proprietor for any personal contingency would adversely affect the capital structure of the firm.
For arriving at its ratings, BWR has applied its rating methodology as detailed in the Rating Criteria detailed below (hyperlinks provided).
RATING SENSITIVITIES
Not applicable, as the rating mandate is being withdrawn with immediate effect at the request of the client.
LIQUIDITY INDICATORS - Stretched
The firm's liquidity position is Stretched, owing to below reasons:
- Tangible Net Worth (TNW) was reduced to Rs. 2.94 Cr. in FY2024 from Rs. 11.72 Cr. in FY2023, due to drawings of Rs. 11.09 Cr. made by the proprietor in FY2024. Later in FY2025, it increased to Rs. 4.27 Cr. owing to addition of retained earnings.
- The firm had cash and bank balance of Rs. 0.38 Cr in FY2024.
- The current portion of long-term bank debt was Rs. 0.27 Cr against the net cash accruals of Rs. 2.23 Cr in FY2024. Moreover, the CPLTD in FY2025 was of Rs. 0.84 Cr. against the net cash accruals of Rs. 1.57 Cr.
- ISCR of the firm stands at 4.45 times in FY2024.
- DSCR of the firm stands at 1.90 times in FY2024.
- As of Mar2025 the firm has utilized more than 60% of its working capital limits.
The firm's liquidity indicators for FY2024 and Provisionals of FY2025 show that the firm has covered its interest and CPLTD expenses with more than sufficient EBITDA and net cash accruals. Due to less cash balance and low unutilized Working capital limit, the firm's liquidity position is considered Stretched.
COMPANY's / FIRM's PROFILE| Macro Economic Indicator | Sector | Industry | Basic Industry |
|---|---|---|---|
| Consumer Discretionary | Consumer Services | Leisure Services | Hotels & Resorts |
Anutham Hotel and Resort was incorporated on 01-July-1992, a proprietorship firm owned and managed by Mr. Sanjeev Prabhakar. He also owns and manages Sanjeev Caterers and Sanjeev Prabhakar Mess Contractor. The hotel is located in Jammu and offer various hospitality services such as Super Deluxe Rooms, Banquet Hall, restaurant, bar and indoor games Etc. The hotel has total of 23 Super Deluxe Rooms, 2 Banquet Hall and 2 restaurants with bar.
ESG ProfileNA
KEY FINANCIAL INDICATORS (Standalone)| Key Parameters | Units |
FY 22 - 23 (Audited) |
FY 23 - 24 (Audited) |
FY 24 - 25 (Provisional) |
|---|---|---|---|---|
| Operating Revenue | 13.80 | 12.28 | 11.72 | |
| EBITDA | 3.88 | 2.81 | 2.84 | |
| PAT | 2.29 | 0.82 | 1.57 | |
| Tangible Net Worth | 11.72 | 2.94 | 4.27 | |
| Total Debt / Tangible Net Worth | 0.52 | 6.00 | 3.86 | |
| Current Ratio | 3.62 | 1.66 | 15.82 |
Not Applicable
ANY OTHER INFORMATIONNone
RATING HISTORY FOR THE PREVIOUS THREE YEARS(including withdrawal and suspended)| Name of Instrument (NCD/Bank Loan /Non- Fund Based facilitates/ Commercial Paper etc.) | Current Rating (2026) | 2025 | 2024 | 2023 | |||||
|---|---|---|---|---|---|---|---|---|---|
| Type | Tenure | Amount (Rs.Crs.) |
Rating | Date | Rating | Date | Rating | Date | Rating |
| Fund Based | LT | 13.39 |
BWR BB-/Stable
(Reaffirmation/Withdrawal) |
02May2025 |
BWR BB-Stable
(Assignment) |
NA |
NA
|
NA |
NA
|
| Grand Total | 13.39 | (Rupees Thirteen Crores and Thirty Nine lakhs Only) | |||||||
| Analytical Contacts | |
|---|---|
|
Mohammed Farzan Rating Analyst mohammed.f@brickworkratings.com |
Suryanarayan N Associate Director - Ratings suryanarayan.n@brickworkratings.com |
| Media Contact | media@brickworkratings.com | Client Support | clientsupport@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 | Jammu and Kashmir Bank | Cash CreditSanctioned | 0.50 | _ | 0.50 | Simple## |
| 2 | Jammu and Kashmir Bank | Loans against PropertyOut-standing | 12.89 | _ | 12.89 | Simple## |
| Total | 13.39 | 0.00 | 13.39 | |||
| TOTAL (Rupees Thirteen Crores and Thirty Nine 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 |
| Instrument / Activity | Regulator |
|---|---|
| Listed/Proposed to be listed bonds/debentures/preference share (all securities) | SEBI |
| Unlisted/Proposed to be unlisted Bonds/Debentures/ Preference share (all securities) | MCA |
Listed PTCs / Securitisation Notes (originated by entities regulated by RBI) 1| SEBI | |
Listed PTCs / Securitisation Notes (originated by entities not regulated by RBI) 1| SEBI | |
Unlisted PTCs / Securitisation Notes (originated by entities regulated by RBI) 1| RBI | |
| Listed Commercial Paper and NCDs with original maturity less than 1 year | RBI |
| Unlisted Commercial Paper and NCDs with original maturity less than 1 year | RBI |
Loan Facilities (Fund/Non-Fund Based) from Bank/NBFCs/NHB/FIs 2| RBI | |
| External Commercial Borrowings and other similar borrowings | RBI |
| Certificates of Deposit | RBI |
| Fixed Deposits raised by NBFC's, Banks, HFCs, Fis | RBI |
| Fixed Deposits raised by corporates other than NBFCs, Banks, HFCs, Fis | MCA |
| Inter Corporate Deposits/Loans extended by Corporates | MCA |
Borrowing programme 3| - | |
Issuer Ratings 4| - | |
| Credit Ratings for Capital Protection Oriented Schemes (by Mutal Funds and AIFs) | SEBI |
| Credit quality ratings (CQRs) for Mutual Fund Schemes and Schemes of AIFs | SEBI |
| Listed Security Receipts | SEBI |
| Unlisted Security Receipts | RBI |
| Independent Credit Evaluation (ICE) | RBI |
| Expected Loss Ratings (for Loan Facilities (Fund/Non-Fund Based) from Bank/NBFCs/NHB/Fis) | RBI |
| Expected Loss Ratings (Listed/Proposed to be listed bonds/debentures/preference share (all securities)) | SEBI |
| Expected Loss Ratings (Unlisted/Proposed to be unlisted Bonds/Debentures/ Preference share (all securities)) | MCA |
Unlisted PTCs / Securitisation Notes (originated by entities not regulated by RBI) 1| Investor-side Regulator | such as IRDAI, PFRDA 5 |
| Monitoring Agency | SEBI |
| Research activities, incidental to rating, such as research for Economy, Industries and Companies 6 | NA |
- Includes securitisation transactions involving assignee payout, acquirer's payout.
- Includes bank facilities such as liquidity facility, second loss facility that are part of securitisation transactions.
- The rated instrument may involve issuance of different instruments such as debt securities (listed or otherwise), bank loans, commercial paper (listed or otherwise), etc. The regulator of the instrument may accordingly be SEBI, RBI or MCA and can only be determined upon issuance. In PRs subsequent to issuance(s), BWR shall separately capture the rated quantum details along with names of respective regulators.
- There is no instrument being rated and hence, Regulator of the Instrument is not applicable.
- These ratings were assigned during regulatory regime prior to the introduction of SEBI CRA Circular dated Feb 10, 2026, and accordingly, investor side regulators have been included.
- Permitted by SEBI vide SEBI Master Circular for CRAs
For any grievances relating to rating of instruments regulated by other FSR (Financial Sector Regulators), please contact grievance@brickworkratings.com.
Brickwork Ratings (BWR), a Securities and Exchange Board of India [SEBI] registered Credit Rating Agency and accredited by Reserve Bank of India [RBI]. BWR is the 5th agency to get a credit rating registration in India in 2009 and its corporate office in Bengaluru. It has a country-wide presence with representatives in 150+ locations. Canara Bank is Brickwork’s strategic partner and promoter.
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