* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
Rating Rationale
Acuité has downgraded the long-term rating to ‘ACUITE B-’ (read as ACUITE B minus) from ‘ACUITE B’ (read as ACUITE B) on the Rs.8.00 crore bank facilities of Kalpatharu Breweries & Distilleries Private Limited on account of information risk. The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information.
About the Company
Incorporated in 2009, Kalpatharu Breweries & Distilleries Private Limited (KBDPL)) is engaged in the manufacture of Indian made foreign liquor (IMFL) in Bengaluru (Karnataka). The company manufactures whisky, vodka and brandy, to name a few at its manufacturing facilities located on the outskirts of Bangalore. The day-to-day operations are managed by Mr. Lingaraj, who is well supported by an experienced team of qualified professionals.
Unsupported Rating
Not Applicable
Non-cooperation by the issuer/borrower:
Acuité has been requesting for data, information and undertakings from the rated entity for conducting surveillance & review of the rating. However, the issuer/borrower failed to submit such information before the due date.
Acuité believes that information risk is a critical component in such ratings, and non-cooperation by the issuer along with unwillingness to provide information could be a sign of potential deterioration in its overall credit quality.
This rating is, therefore, being flagged as “Issuer not-cooperating”, in line with prevailing SEBI regulations and Acuité’s policies.
Limitation regarding information availability
Rating Sensitivity
Potential triggers (individual or collective) for an upward rating action:
Not Applicable
Potential triggers (individual or collective) for a downward rating action:
Not Applicable
Liquidity Position
"No information provided by the issuer / available for Acuite to comment upon."
ACUITE B
(Downgraded & Issuer not co-operating* from ACUITE B+)
Term Loan
Long Term
3.00
ACUITE B
(Downgraded & Issuer not co-operating* from ACUITE B+)
29 Mar 2024
Cash Credit
Long Term
5.00
ACUITE B+
(Reaffirmed & Issuer not co-operating*)
Term Loan
Long Term
3.00
ACUITE B+
(Reaffirmed & Issuer not co-operating*)
05 Jan 2023
Cash Credit
Long Term
5.00
ACUITE B+
(Reaffirmed & Issuer not co-operating*)
Term Loan
Long Term
3.00
ACUITE B+
(Reaffirmed & Issuer not co-operating*)
* The issuer did not co-operate; based on best available information.
Lender’s Name
ISIN
Facilities
Listing Status
Regulated By
Date Of Issuance
Coupon Rate
Maturity Date
Quantum (Rs. Cr.)
Complexity Level
Rating
State Bank of India
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
5.00
Simple
ACUITE B- | Downgraded | Issuer not co-operating* ( from ACUITE B )
State Bank of India
Not avl. / Not appl.
Term Loan
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
3.00
Simple
ACUITE B- | Downgraded | Issuer not co-operating* ( from ACUITE B )
* The issuer did not co-operate; based on best available information.
Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.
