MSTC Limited — Capital/Financing Update 2022

Dec 15, 2022

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Rating Letter - Intimation of Rating Action

Letter Issued on: December 08, 2022 Letter Expires on: December 25, 2023 Annual Fee valid till: December 25, 2023

MSTC LIMITED

Plot no.CF-18/2, Street No.175, Action Area 1C, New Town, Kolkata - 700156

Kind Attn.: Mr. Subrata Sarkar, Director (Tel. No. 9434083344)

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Scan this QR Code to verify
authenticity of this rating
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Dear Mr. Sarkar,

Sub.: Rating(s) Reaffirmed - Bank Loans / Debt Instruments of MSTC LIMITED

Please note that the current rating(s) and outlook, instrument details, and latest rating action for the aforementioned instrument are as under:

	Long Term Instruments	Short Term Instruments
Total Rated Quantum (Rs. Cr.)	10.00	100.00
Quantum of Enhancement (Rs. Cr.)	Not applicable	Not applicable
Rating	ACUITE A+	ACUITE A1+
Outlook	Stable	Not applicable
Most recent Rating Action	Reaffirmed	Reaffirmed
Date of most recent Rating Action	December 08, 2022	December 08, 2022
Rating Watch	Not applicable	Not applicable

Acuité reserves the right to revise the ratings, along with the outlook, at any time, on the basis of new information, or other circumstances which Acuité believes may have an impact on the ratings. Such revisions, if any, would be appropriately disseminated by Acuité as required under prevailing SEBI guidelines and Acuité ’s policies.

This letter will expire on December 25, 2023 or on the day when Acuité takes the next rating action, whichever is earlier. It may be noted that the rating is subject to change anytime even before the expiry date of this letter. Hence lenders / investors are advised to visit https://www.acuite.in/ OR scan the QR code given above to confirm the current outstanding rating.

Acuité will re-issue this rating letter on December 26, 2023 subject to receipt of surveillance fee as applicable. If the rating is reviewed before December 25, 2023, Acuité will issue a new rating letter.

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Suman Chowdhury Chief Analytical Officer

Annexures: A. Details of the Rated Instrument

B. Details of the rating prior to the above rating action

Acuité Ratings & Research Limited

SEBI Registered | RBI Accredited 708, Lodha Supremus, Lodha iThink Techno Campus, Kanjurmarg (East), Mumbai - 400042 | +91 22 49294000 SMS: +91 9969898000 | www.acuite.in | CIN: U74999MH2005PLC155683

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Annexure A. Details of the rated instrument

Bank	Facilities	Scale	Amt. (Rs. Cr)	Ratings	Rating Action
Fund Based Facilities
State Bank of India	Term Loan	Long Term	8.25	ACUITE A+	Withdrawn
Not Applicable	Proposed Bank Facility	Long Term	40.00	ACUITE A+	Withdrawn
Not Applicable	Proposed Bank Facility	Long Term	10.00	ACUITE A+/ Stable	Reaffirmed
Total Fund Based Facilities			10.00
Non-Fund Based Facilities
Not Applicable	Proposed Bank Facility	Short Term	50.00	ACUITE A1+	Withdrawn
Not Applicable	Proposed Bank Facility	Short Term	100.00	ACUITE A1+	Reaffirmed
Punjab National Bank	Bank Guarantee	Short Term	125.00	ACUITE A1+	Withdrawn
Total Non-Fund Based Facilities			100.00
Total Facilities			110.00

Annexure B. Details of the rating prior to the above rating action

	Long Term Instruments	Short Term Instruments
Previous Rated Quantum	58.25 Cr.	275.00 Cr.
Rating	ACUITE A+	ACUITE A1+
Outlook	Stable	Not applicable

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DISCLAIMER

An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy , sell or hold any security. Acuité ratings are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité , in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind arising from the use of its ratings.Acuité ratings are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité , Acuité ’s rating scale and its definitions.

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