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CRISIL has suspended its ratings on the bank facilities of Khoday India Ltd (KIL), as KIL has not been providing any information on its operations and financials to CRISIL. The suspension reflects CRISIL's inability to maintain a valid rating in the absence of information from KIL.
About the Company
KIL, a part of the Khoday group of companies, was incorporated in 1965. The company has three distilleries (two owned and one leased from group company, Khoday RCA Industries Ltd) in Bengaluru (Karnataka), with capacity to produce up to 7 million cases of liquor per annum. Its current capacity utilisation is around 82 per cent. KIL manufactures Indian-made foreign liquor under its own brands, and does not undertake contract bottling work for brands owned by other companies. KIL’s key brands include Peter Scot (premium brand) and Red Knight (prestige brand) whiskies, which account for up to 0.4 million cases of the total 1.5 million cases sold by the company annually. Its other brands include Khodays XXX Rum, Hercules XXX Rum, Sovereign Brandy, and Mc. Millan Brandy (all regular brands), and Democrat Whisky and Khoday Five Star Whisky (both economy brands).
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Media Contacts
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Analytical Contacts
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CRISIL Rating Desk
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Mitu Samar
Head, Communications and Brand Management
CRISIL Limited
Tel: +91-22- 3342 1838
E-mail: msamar@crisil.com
Tanuja Abhinandan
Communications and Brand Management
CRISIL Limited
Tel: +91-22- 3342 1818
Email: tabhinandan@crisil.com
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Nagarajan Narasimhan
Director - CRISIL Ratings
Tel: +91-22-3342 3350
Email:nnarasimhan@crisil.com
Anuj Sethi
Head - CRISIL Ratings
Tel: +91-44-6656 3108
Email: ansethi@crisil.com
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Tel: +91-22-3342 3047/3342 3064
Email:CRISILratingdesk@crisil.com
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About CRISIL Limited
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Last updated: March 31, 2011
Disclaimer: A CRISIL rating reflects CRISIL's 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. CRISIL ratings are based on information provided by the issuer or obtained by CRISIL from sources it considers reliable. CRISIL does not guarantee the completeness or accuracy of the information on which the rating is based. A CRISIL rating 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. All CRISIL ratings are under surveillance. Ratings are revised as and when circumstances so warrant. CRISIL is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of this product. CRISIL Ratings’ rating criteria are available without charge to the public on the CRISIL web site, www.crisil.com. For the latest rating information on any instrument of any company rated by CRISIL, please contact CRISIL RATING DESK at CRISILratingdesk@crisil.com, or at (+91 22) 3342 3000.
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