Sudhir Power Projects Limited

Instrument Amount in Rs Crore Rating Action

ST Scale NFB Limits 116.60 [ICRA]A1+(SO) reaffirmed

ICRA has reaffirmed [ICRA]A1+ (SO) (pronounced ICRA A One plus Structured Obligation) rating to
Rs 116.60 crore non fund based limits of Sudhir Power Projects Limited (SPPPL).* The letters SO in
parenthesis suffixed to a rating symbol stand for Structured Obligation. An SO rating is specific to the
rated issue, its terms and its structure. SO ratings do not represent ICRAs opinion on the general
credit quality of the issuers concerned.

The rating take into consideration the credit enhancement in respect of the captioned debt programme
by way of a guarantee given by Sudhir Gensets Limited for repayment of the principal, interest and
other charges payable for the captioned debt programme. The rating addresses the servicing of the
loan to happen as per the terms of the underlying loan and the guarantee arrangement and the rating
assumes that the guarantee will be duly invoked, as per the terms of the underlying loan and
guarantee agreements, in case there is a default in payment by the borrower.

Recent results

SPPL has made a PAT of Rs 2.81 crore on operating income of Rs 230.35 crore in FY11 as against
PAT of Rs 4.26 crore on operating income of Rs 223.57 crore.

Company Profile

Sudhir Power Projects Limited (SPPL) is a fully owned subsidiary of Sudhir Gensets Limited. It is
engaged in the Engineering, Procurement and Construction jobs of Gensets and allied electrification
works. The company was incorporated in 2007 and it took over the business of two other group entities
having similar line of business namely Power Concepts and Sudhir Engineering Company.

For further details please contact:

Analyst Contacts:
Mr. Sabyasachi Majumdar (Tel. No. +91-124-4545304)
sabyasachi@icraindia.com

Relationship Contacts:
Mr. Vivek Mathur (Tel. No. +91-124-4545310)
vivek@icraindia.com

Copyright, 2012, ICRA Limited. All Rights Reserved.

Contents may be used freely with due acknowledgement to ICRA
ICRA r a t in gs shou ld not be tr eat ed a s recom m en da t ion to bu y, sell or h old th e r a ted debt inst ru m en t s. Th e ICRA
r a t in gs a re su bject to a process of su rveilla nce wh ich m a y lea d t o a revision in r a t ings. P lea se visit ou r website
(www.icr a.in ) or con t a ct a ny ICRA office for t h e la test in form a tion on ICRA r a t in gs ou t st a n ding. All in form a t ion
con t a in ed herein h as been obt ain ed by ICRA fr om sou rces believed by it t o be a ccu r a te a n d relia ble. Alt h ou gh
r ea son a ble ca re h a s been t a ken t o en sur e t h a t t he in form a t ion h erein is t r ue, su ch in form a t ion is pr ovided a s is
wit h ou t a ny wa r r an t y of a n y kin d, a n d ICRA in pa r t icu la r , m a kes no repr esen t a t ion or war r a n t y, expr ess or
im plied, a s to t he a ccu r acy, t im eliness or com pleteness of an y su ch in for m a t ion. All in for m a t ion con t a ined her ein
m u st be const r ued solely a s st a tem en ts of opin ion a n d ICRA sh all n ot be lia ble for a n y losses in cu r red by u sers from
a n y u se of th is pu blica t ion or it s con ten ts

*
For complete rating scale and definitions, please refer to ICRAs website www.icra.in or other ICRA Rating
Publications.
Registered Office
ICRA Limited
1105, Kailash Building, 11th Floor, 26, Kasturba Gandhi Marg, New Delhi 110001
Tel: +91-11-23357940-50, Fax: +91-11-23357014

Corporate Office
Mr. Vivek Mathur
Mobile: 9871221122
Email: vivek@icraindia.com

Building No. 8, 2nd Floor, Tower A, DLF Cyber City, Phase II, Gurgaon 122002
Ph: +91-124-4545310 (D), 4545300 / 4545800 (B) Fax; +91-124-4545350

Mumbai Kolkata
Mr. L. Shivakumar Ms. Anuradha Ray
Mobile: 91-22-30470005/9821086490 Mobile: 91-33-22813158/9831086462
Email: shivakumar@icraindia.com Email: anuradha@icraindia.com

3rd Floor, Electric Mansion, Appasaheb Marathe Marg, A-10 & 11, 3rd Floor, FMC Fortuna, 234/ 3A, A.J.C. Bose
Prabhadevi, Mumbai - 400 025 Road, Kolkata-700020.
Ph : +91-22-2433 1046/ 1053/ 1062/ 1074/ 1086/ 1087 Tel: +91-33-2287 6617/ 8839/ 2280 0008
Fax : +91-22-2433 1390 Fax: +91-33-2287 0728
Chennai Bangalore
Mr. Jayanta Chatterjee Mr. Jayanta Chatterjee
Mobile: 9845022459 Mobile: 9845022459
Email: jayantac@icraindia.com Email: jayantac@icraindia.com

5th Floor, Karumuttu Centre, 498 Anna Salai, Nandanam, 2 nd Floor. ,Vayudhoot Chambers, Trinity Circle, 15-16
Chennai-600035. M.G.Road, Bangalore-560001.
Tel: +91-44-2433 3293/ 94, 2434 0043/ 9659/ 8080, 2433 Tel:91-80-25597401/ 4049 Fax:91-80-25594065
0724, Fax:91-44-24343663

Ahmedabad Pune
Mr. L. Shivakumar Mr. L. Shivakumar
Mobile: 9821086490 Mobile: 9821086490
Email: shivakumar@icraindia.com Email: shivakumar@icraindia.com

907 & 908 Sakar -II, Ellisbridge, 5A, 5th Floor, Symphony, S.No. 210, CTS 3202, Range Hills
Ahmedabad- 380006 Road, Shivajinagar,Pune-411 020
Tel: +91-79-26585494, 26582008,26585049, 26584924 Tel : (91 20) 2556 1194 -96; Fax : (91 20) 2556 1231
TeleFax:+91-79- 2648 4924
Hyderabad
Mr. M.S.K. Aditya
Mobile: 9963253777
Email: adityamsk@icraindia.com

301, CONCOURSE, 3rd Floor, No. 7-1-58, Ameerpet,

Hyderabad 500 016.
Tel: +91-40-2373 5061 /7251 Fax: +91-40- 2373 5152