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    TDK India Private Limited

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    ankityad129

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    © All Rights Reserved
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    TDK India Private Limited

    Uploaded by

    ankityad129
    4 views5 pages

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    © © All Rights Reserved

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    Copyright:

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    4 views5 pages

    TDK India Private Limited

    Uploaded by

    ankityad129

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    © All Rights Reserved
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    of 5

    April 19, 2024

    TDK India Private Limited: Rating withdrawn


    Summary of rating action

    Previous Rated Amount Current Rated Amount


    Instrument* Rating Action
    (Rs. crore) (Rs. crore)
    Long Term - Unallocated 160.00 160.00 [ICRA]AA-(Stable); Withdrawn

    Total 160.00 160.00


    *Instrument details are provided in Annexure I

    Rationale

    ICRA has withdrawn the ratings assigned to the bank facilities of TDK India Private Limited at the request of the company and
    confirmation from the company that they have not availed unallocated limits from any of the banks rated by ICRA, and in
    accordance with ICRA’s policy on withdrawal. ICRA does not have information to suggest that the credit risk has changed since
    the time the rating was last reviewed.

    The Key Rating Drivers, Liquidity Position, and Rating Sensitivities have not been captured as the rated instruments are being
    withdrawn. The previous detailed rating rationale is available at the following link: Click here

    Analytical approach

    Analytical Approach Comments


    Corporate Credit Rating Methodology
    Applicable rating methodologies
    Policy on Withdrawal of Credit Ratings
    Parent/Group support Not Applicable
    Consolidation/Standalone Standalone

    About the company


    TDK India Private Limited (erstwhile EPCOS India Private Limited) was incorporated on November 8, 1976, and the company is
    a subsidiary of TDK Electronics AG, Germany and TDK Electronics Components S.A.U. Spain, which are the subsidiaries of TDK
    Corporation, Japan. TDK India took over the film capacitors business of Asian Electronics Limited, which was then the leader in
    India of AC / LT Power and LT switch film capacitors and metallised film, in 1998. TDK India manufactures and markets
    electronic components and ferrites for the sectors like automotive, solar, consumer goods and industrial electronics. It has
    two units located at Nasik (Maharashtra) and Kalyani (West Bengal)

    Key financial indicators (audited):

    Standalone FY2022 FY2023


    Operating Income (Rs. crore) 981.0 1151.8
    PAT (Rs. crore) 62.9 101.3
    OPBDIT/OI (%) 15.7% 16.3%
    PAT/OI (%) 6.4% 8.8%
    Total Outside Liabilities/Tangible Net Worth (times) 0.8 0.7
    Total Debt/OPBDITA (times) 1.1 1.2
    Interest Coverage (times) 16.8 13.4

    www.icra .in
    Page | 1
    PAT: Profit after tax; OPBDIT: Operating profit before depreciation, interest, taxes and amortisation; Amount in Rs crore;

    Status of non-cooperation with previous CRA: Not Applicable

    Any other information: None

    Rating history for past three years


    Chronology of rating history
    Current rating (FY2025)
    for the past 3 years
    Amount Date & rating Date & rating Date & rating
    Instrument Date & rating in FY2025
    rated Amount in FY2024 in FY2023 in FY2022
    Type
    (Rs. outstanding
    crore) (Rs. crore) Apr 19, 2024 Apr 04, 2023 - -
    Long [ICRA]AA-
    1 Unallocated 160.00 - [ICRA]AA- (Stable); Withdrawn - -
    Term (Stable)

    Complexity level of the rated instruments


    Instrument Complexity Indicator
    Long term – Unallocated Not applicable

    The Complexity Indicator refers to the ease with which the returns associated with the rated instrument could be estimated.
    It does not indicate the risk related to the timely payments on the instrument, which is rather indicated by the instrument's
    credit rating. It also does not indicate the complexity associated with analysing an entity's financial, business, industry risks or
    complexity related to the structural, transactional or legal aspects. Details on the complexity levels of the instruments are
    available on ICRA’s website: Click Here

    www.icra .in
    Page | 2
    Annexure I: Instrument details
    Instrument Date of Maturity Amount Rated
    ISIN Coupon Rate Current Rating and Outlook
    Name Issuance Date (Rs. crore)
    NA Unallocated - - - 160.00 [ICRA]AA-(Stable); withdrawn
    Source: Company

    Please click here to view details of lender-wise facilities rated by ICRA

    Annexure II: List of entities considered for consolidated analysis: Not Applicable

    www.icra .in
    Page | 3
    ANALYST CONTACTS
    Shamsher Dewan Srikumar K
    +91 124 4545328 +91 44 45964318
    shamsherd@icraindia.com Ksrikumar@icraindia.com

    Nithya Debbadi Raviteja Etikala


    +91 40 40 69396416 +91 40 69396418
    nithya.debbadi@icraindia.com Etikala.teja@icraindia.com

    RELATIONSHIP CONTACT
    L Shivakumar
    +91 22 6114 3406
    shivakumar@icraindia.com

    MEDIA AND PUBLIC RELATIONS CONTACT


    Ms. Naznin Prodhani
    Tel: +91 124 4545 860
    communications@icraindia.com

    Helpline for business queries


    +91-9354738909 (open Monday to Friday, from 9:30 am to 6 pm)

    info@icraindia.com

    About ICRA Limited:


    ICRA Limited was set up in 1991 by leading financial/investment institutions, commercial banks and financial services
    companies as an independent and professional investment Information and Credit Rating Agency.

    Today, ICRA and its subsidiaries together form the ICRA Group of Companies (Group ICRA). ICRA is a Public Limited Company,
    with its shares listed on the Bombay Stock Exchange and the National Stock Exchange. The international Credit Rating Agency
    Moody’s Investors Service is ICRA’s largest shareholder.

    For more information, visit www.icra.in

    www.icra .in
    Page | 4
    ICRA Limited

    Registered Office
    B-710, Statesman House, 148, Barakhamba Road, New Delhi-110001
    Tel: +91 11 23357940-45

    Branches

    © Copyright, 2024 ICRA Limited. All Rights Reserved.


    Contents may be used freely with due acknowledgement to ICRA.
    ICRA ratings should not be treated as recommendation to buy, sell or hold the rated debt instruments. ICRA ratings are subject to a process of surveillance,
    which may lead to revision in ratings. An ICRA rating is a symbolic indicator of ICRA’s current opinion on the relative capability of the issuer concerned to
    timely service debts and obligations, with reference to the instrument rated. Please visit our website www.icra.in or contact any ICRA office for the latest
    information on ICRA ratings outstanding. All information contained herein has been obtained by ICRA from sources believed by it to be accurate and reliable,
    including the rated issuer. ICRA however has not conducted any audit of the rated issuer or of the information provided by it. While reasonable care has been
    taken to ensure that the information herein is true, such information is provided ‘as is’ without any warranty of any kind, and ICRA in particular, makes no
    representation or warranty, express or implied, as to the accuracy, timeliness or completeness of any such information. Also, ICRA or any of its group
    companies may have provided services other than rating to the issuer rated. All information contained herein must be construed solely as statements of
    opinion, and ICRA shall not be liable for any losses incurred by users from any use of this publication or its contents.

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