April 21, 2015
Mumbai
Kilpest India Limited
 
Ratings Suspended
 
Total Bank Loan Facilities Rated Rs.54.6 Million
Long Term Rating Suspended
Short Term Rating Suspended
(Refer to Annexure 1 for Facility-wise details)

CRISIL has suspended its ratings on the bank facilities of Kilpest India Ltd (KIL). The suspension of ratings is on account of non-cooperation by KIL with CRISIL's efforts to undertake a review of the ratings outstanding. Despite repeated requests by CRISIL, KIL is yet to provide adequate information to enable CRISIL to assess KIL's ability to service its debt. The suspension reflects CRISIL's inability to maintain a valid rating in the absence of adequate information. CRISIL considers information availability risk as a key credit factor in its rating process and non-sharing of information as a first signal of possible credit distress, as outlined in its criteria 'Information Availability Risk in Credit Ratings'

About the Company

Incorporated in 1972, KIL is promoted by Mr. R K Dubey and family in Bhopal (Madhya Pradesh). The company formulates various kinds of pesticides and manufactures about 50 pesticide products, micro fertilisers, bio-fertilisers and bio-pesticides. 

Annexure 1 - Details of various bank facilities
Current facilities Previous facilities
Facility Amount (Rs.Million) Rating Facility Amount (Rs.Million) Rating
Bank Guarantee 5 Suspended Bank Guarantee 5 CRISIL A4
Cash Credit 42.5 Suspended Cash Credit 42.5 CRISIL B+/Stable
Letter of Credit 5 Suspended Letter of Credit 5 CRISIL A4
Proposed Long Term Bank Loan Facility 2.1 Suspended Proposed Long Term Bank Loan Facility 2.1 CRISIL B+/Stable
Total 54.6 -- Total 54.6 --
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April 21, 2015

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