* 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 reaffirmed the long-term rating of ‘ACUITE D’ (read as ACUITE D) and short term rating of ‘ACUITE D’ (read as ACUITE D) on the Rs. 8.50 crore bank facilities of Kino Organics India Limited (KOIL). The rating continues to be flagged as “Issuer Not-Cooperating” and is based on the best available information.
About the Company
Incorporated in 2005, Kino Organics India Limited (KOIL) a Madhya Pradesh-based company, previously known as Lordsons Agro Overseas Private Limited, was promoted by Mr. Brajesh Shukla and Mrs. Laxmi Shukla. Later in 2013, the directors Mr. Prakash Chabra and Mr. Yukti Chabra took over the business and changed the name to Kino Organics India Limited. The company is engaged in manufacturing and sale of agro chemicals like pesticides, insecticides, and weedicides, etc. in Madhya Pradesh, Uttar Pradesh, Maharashtra and Uttarakhand. KOIL has its manufacturing unit located in Indore, Madhya Pradesh.
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."
* 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
BANK OF INDIA (BOI)
Not avl. / Not appl.
Cash Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
7.00
Simple
ACUITE D | Reaffirmed | Issuer not co-operating*
BANK OF INDIA (BOI)
Not avl. / Not appl.
Letter of Credit
Unlisted
RBI
Not avl. / Not appl.
Not avl. / Not appl.
Not avl. / Not appl.
1.50
Simple
ACUITE D | Reaffirmed | Issuer not co-operating*
* 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.
