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Advanced Enzyme Technologies Limited — Capital/Financing Update 2024
Jan 2, 2024
62369_rns_2024-01-02_bf428666-22cc-4263-b768-4370bf30a832.pdf
Capital/Financing Update
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January 02, 2024
BSE Limited National Stock Exchange of India Limited P. J. Towers, Dalal Street, Exchange Plaza, Plot No. C/1, G Block Mumbai- 400 001 Bandra-Kurla Complex, Bandra (E) Mumbai- 400 051
Scrip ID-540025 Scrip Code-ADVENZYMES
Dear Sir/Madam,
Re.: Intimation regarding credit ratings by CRISIL Ratings Limited
In terms of Regulation 30 and Schedule III to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (as amended), read with the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, we would like to inform that Advanced Enzyme Technologies Limited (‘the Company’) has received the ratings outstanding for debt instruments/facilities of the Company, by CRISIL Ratings Limited (CRISIL) as per the enclosed letter received from CRISIL:
Total Bank Loan Facilities Rated Rs. 100 Crore Long-Term Rating CRISIL A+/Stable (Reaffirmed) Short-Term Rating CRISIL A1 (Reaffirmed)
The aforesaid information/letter is also being uploaded on the website of the Company at www.advancedenzymes.com
Kindly take the same on record.
Thanking you, Yours faithfully, For Advanced Enzyme Technologies Limited
SANJAY Digitally signed by SANJAY PRAKASH PRAKASH BASANTANI BASANTANI Date: 2024.01.02 17:37:02 +05'30' Sanjay Basantani Company Secretary and Head – Legal
Encl: As above
CONFIDENTIAL
RL/GDS427/333527/BLR/1223/76101 December�29,�2023�������������������������������������������������������������������������������������
Mr.�Beni�Prasad�Rauka
Chief�Financial�Officer Advanced�Enzyme�Technologies�Limited Sun�Magnetica,�A�Wing,�5th�floor, Near�LIC�Service�Road,�Louis�Wadi Thane�-�400604
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Dear�Mr.�Beni�Prasad�Rauka,
Re:�Review�of�CRISIL�Ratings�on�the�bank�facilities�of�Advanced�Enzyme�Technologies�Limited
All�ratings�assigned�by�CRISIL�Ratings�are�kept�under�continuous�surveillance�and�review.
Please�find�in�the�table�below�the�ratings�outstanding�for�the�debt�instruments/facilities�of�the�company,�and�the�rating� actions�by�CRISIL�Ratings�on�the�ratings�as�on�date.
| TotalBankLoanFacilitiesRated | Rs.100Crore |
|---|---|
| LongTermRating | CRISILA+/Stable(Reaffirmed) |
| ShortTermRating | CRISILA1(Reaffirmed) |
(Bank-wise�details�as�per�Annexure�1)
As�per�our�Rating�Agreement,�CRISIL�Ratings�would�disseminate�the�ratings,�along�with�the�outlook,�through�its� publications�and�other�media,�and�keep�the�ratings,�along�with�the�outlook,�under�surveillance�over�the�life�of�the� instrument/facility.�CRISIL�Ratings�reserves�the�right�to�withdraw,�or�revise�the�ratings,�along�with�the�outlook,�at�any� time,�on�the�basis�of�new�information,�or�unavailability�of�information,�or�other�circumstances�which�CRISIL�Ratings� believes�may�have�an�impact�on�the�ratings.�Please�visit�www.crisilratings.com�and�search�with�the�name�of�the�rated� entity�to�access�the�latest�rating/s.
In�the�event�of�the�company�not�availing�the�proposed�facilities�within�a�period�of�180�days�from�the�date�of�this�letter,�a� fresh�letter�of�revalidation�from�CRISIL�Ratings�will�be�necessary.
Should�you�require�any�clarification,�please�feel�free�to�get�in�touch�with�us.
With�warm�regards,
Yours�sincerely,
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Anil�More Associate�Director�-�CRISIL�Ratings
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��������Nivedita�Shibu ��������Associate�Director�-�CRISIL�Ratings
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Disclaimer :�A�rating�by�CRISIL�Ratings�reflects�CRISIL�Ratings’�current�opinion�on�the�likelihood�of�timely�payment�of�the�obligations�under�the�rated�instrument,�and�does� not�constitute�an�audit�of�the�rated�entity�by�CRISIL�Ratings.�Our�ratings�are�based�on�information�provided�by�the�issuer�or�obtained�by�CRISIL�Ratings�from�sources�it� considers�reliable.�CRISIL�Ratings�does�not�guarantee�the�completeness�or�accuracy�of�the�information�on�which�the�rating�is�based.�A�rating�by�CRISIL�Ratings�is�not�a� recommendation�to�buy�/�sell�or�hold�the�rated�instrument;�it�does�not�comment�on�the�market�price�or�suitability�for�a�particular�investor.�CRISIL�Ratings�has�a�practice�of� keeping�all�its�ratings�under�surveillance�and�ratings�are�revised�as�and�when�circumstances�so�warrant.�CRISIL�Ratings�is�not�responsible�for�any�errors�and�especially� states�that�it�has�no�financial�liability�whatsoever�to�the�subscribers�/�users�/�transmitters�/�distributors�of�its�ratings.�CRISIL�Ratings’�criteria�are�available�without�charge�to� the�public�on�the�web�site,� www.crisilratings.com .�CRISIL�Ratings�or�its�associates�may�have�other�commercial�transactions�with�the�company/entity.�For�the�latest�rating� information�on�any�instrument�of�any�company�rated�by�CRISIL�Ratings,�please�visit� www.crisilratings.com or�contact�Customer�Service�Helpdesk�at�� [email protected]�or�at�1800-267-1301
A�subsidiary�of�CRISIL�Limited,�an�S&P�Global�Company� Corporate�Identity�Number:�U67100MH2019PLC326247�
CRISIL�Ratings�Limited��
____________ Registered�Office: �CRISIL�House,�Central�Avenue,�Hiranandani�Business�Park,�Powai,�Mumbai-�400�076.�Phone:�+91�22�3342�3000��|�Fax:�+91�22�3342�3001
www.crisilratings.com
Annexure�1�-�Bank-wise�details�of�various�facility�classes�(outstanding�facilities)
| S.No. | BankFacility | Bank | Amount(Rs. inCrore) |
OutstandingRating |
|---|---|---|---|---|
| 1 | CashCredit | AxisBankLimited | 5 | CRISILA+/Stable |
| 2 | Letterofcredit&Bank Guarantee |
HDFCBankLimited | 2.5 | CRISILA1 |
| 3 | OverdraftFacility | HDFCBankLimited | 12.5 | CRISILA+/Stable |
| 4 | PostShipmentCredit | ICICIBankLimited | 10 | CRISILA+/Stable |
| 5 | PreShipmentPackingCredit | CitibankN.A. | 15 | CRISILA+/Stable |
| 6 | PreShipmentPackingCredit | DBSBankLimited | 5 | CRISILA+/Stable |
| 7 | ProposedLongTermBank LoanFacility |
-- | 40 | CRISILA+/Stable |
| 8 | ProposedWorkingCapital Facility |
-- | 10 | CRISILA+/Stable |
| Total | 100 |
-
3.�-�Fully�interchangeable�with�working�capital�demand�loan
-
4.�-�Interchangable�with�PCFC,�CC,�Working�capital�demand�loan,�LC�and�Bank�Guarantee�submit�of�Rs�4�Crore
-
5.�-�Interchangeable�with�Rs�15�crore�of�CC/WCDL/BC/SLC/ULC/BD�and�Rs�10�Crore�of�BG
-
6.�-�Interchangable�with�LC,�CC�,�FDBP,�PDB,�Buyer�Credit,�WCDL�and�OD�sub�limit�of�Rs�2.5�crores
Disclaimer :�A�rating�by�CRISIL�Ratings�reflects�CRISIL�Ratings’�current�opinion�on�the�likelihood�of�timely�payment�of�the�obligations�under�the�rated�instrument,�and�does� not�constitute�an�audit�of�the�rated�entity�by�CRISIL�Ratings.�Our�ratings�are�based�on�information�provided�by�the�issuer�or�obtained�by�CRISIL�Ratings�from�sources�it� considers�reliable.�CRISIL�Ratings�does�not�guarantee�the�completeness�or�accuracy�of�the�information�on�which�the�rating�is�based.�A�rating�by�CRISIL�Ratings�is�not�a� recommendation�to�buy�/�sell�or�hold�the�rated�instrument;�it�does�not�comment�on�the�market�price�or�suitability�for�a�particular�investor.�CRISIL�Ratings�has�a�practice�of� keeping�all�its�ratings�under�surveillance�and�ratings�are�revised�as�and�when�circumstances�so�warrant.�CRISIL�Ratings�is�not�responsible�for�any�errors�and�especially� states�that�it�has�no�financial�liability�whatsoever�to�the�subscribers�/�users�/�transmitters�/�distributors�of�its�ratings.�CRISIL�Ratings’�criteria�are�available�without�charge�to� the�public�on�the�web�site,� www.crisilratings.com .�CRISIL�Ratings�or�its�associates�may�have�other�commercial�transactions�with�the�company/entity.�For�the�latest�rating� information�on�any�instrument�of�any�company�rated�by�CRISIL�Ratings,�please�visit� www.crisilratings.com or�contact�Customer�Service�Helpdesk�at�� [email protected]�or�at�1800-267-1301
A�subsidiary�of�CRISIL�Limited,�an�S&P�Global�Company� Corporate�Identity�Number:�U67100MH2019PLC326247�
CRISIL�Ratings�Limited��
____________ Registered�Office: �CRISIL�House,�Central�Avenue,�Hiranandani�Business�Park,�Powai,�Mumbai-�400�076.�Phone:�+91�22�3342�3000��|�Fax:�+91�22�3342�3001
www.crisilratings.com