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Kabra Extrusion Technik Ltd — Capital/Financing Update 2024
Feb 13, 2024
62521_rns_2024-02-13_2e7ccbaa-97a6-4ff8-bae2-9eb67c754220.pdf
Capital/Financing Update
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KET/SEC/SE/2023-24/67 February 13, 2024
BSE Limited
Floor 25, Phiroze Jeejeebhoy Tower, Dalal Street, Mumbai – 400 001 Scrip Code: 524109 Dear Sirs,
National Stock Exchange India Ltd. Exchange Plaza, C-1, Block-G, Bandra Kurla Complex, Bandra (East), Mumbai-400051 Stock Code: KABRAEXTRU
Sub.: Intimation of Credit Rating
In terms of Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with corresponding circulars and notifications issued thereunder, please find the below details of revision in ratings for the Company received from CRISIL Limited:
| Sr. No | Type of Credit Rating | Revised Ratings | Reason for revision |
|---|---|---|---|
| 1. | Long term Bank facilities | CRISIL A+/Negative (Outlook revised from ‘Stable’, Rating reaffirmed) |
Due to operating performance over, previous year. |
| 2. | Short term Bank facilities | CRISIL A1 (Reaffirmed) | - |
The rating letter received from CRISIL is attached as an Annexure.
The above information will also be available on the website of the Company at www.kolsitegroup.com
You are requested to take the above information on records.
Thanking you,
Yours faithfully,
For Kabra Extrusiontechnik Limited
Digitally signed by SHREEVALLABH SHREEVALLABH GOPILAL KABRA GOPILAL KABRA Date: 2024.02.13 16:08:35 +05'30'
Shreevallabh Kabra
Executive Chairman
Encl : As Above
www.kolsite.com A Kolsite Group Company
Kabra Extrusiontechnik Ltd.
Fortune Terraces, B wing, 10th Floor, Link Road, Opp. Citi Mall,
Andheri (West), Mumbai - 400 053. Maharashtra, India. Phone : +91-22-26734822/23/24/25 Fax : +91-22-2673 5041 Email : [email protected]
CIN - L28900MH1982PLC028535
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CONFIDENTIAL
RL/KABEXTR/336767/BLR/0224/79348 February 13, 2024
Mr. Daulat Jain
Chief Financial Officer
Kabra Extrusiontechnik Limited
Fortune Terraces, 10th Floor, New Link Road, Andheri (West) Mumbai City - 400053 9820613828
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Dear Mr. Daulat Jain,
Re: Review of CRISIL Ratings on the bank facilities of Kabra Extrusiontechnik Limited
All ratings assigned by CRISIL Ratings are kept under continuous surveillance and review.
Please find in the table below the ratings outstanding for the debt instruments/facilities of the company, and the rating actions by CRISIL Ratings on the ratings as on date.
| Total Bank Loan Facilities Rated | Rs.154 Crore |
|---|---|
| Long Term Rating | CRISIL A+/Negative(Outlook revised from 'Stable'; Rating reaffirmed) |
| Short Term Rating | CRISIL A1(Reaffirmed) |
(Bank-wise details as per Annexure 1)
As per our Rating Agreement, CRISIL Ratings would disseminate the ratings, along with the outlook, through its publications and other media, and keep the ratings, along with the outlook, under surveillance over the life of the instrument/facility. CRISIL Ratings reserves the right to withdraw, or revise the ratings, along with the outlook, at any time, on the basis of new information, or unavailability of information, or other circumstances which CRISIL Ratings believes may have an impact on the ratings. Please visit www.crisilratings.com and search with the name of the rated entity to access the latest rating/s.
In the event of the company not availing the proposed facilities within a period of 180 days from the date of this letter, a fresh letter of revalidation from CRISIL Ratings will be necessary.
Should you require any clarification, please feel free to get in touch with us.
With warm regards,
Yours sincerely,
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Anil More Associate Director - CRISIL Ratings
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Nivedita Shibu Associate Director - CRISIL Ratings
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Disclaimer : A rating by CRISIL Ratings reflects CRISIL Ratings’ 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 Ratings. Our ratings are based on information provided by the issuer or obtained by CRISIL Ratings from sources it considers reliable. CRISIL Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by CRISIL Ratings 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. CRISIL Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. CRISIL Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. CRISIL Ratings’ criteria are available without charge to the public on the web site, www.crisilratings.com . CRISIL Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by CRISIL Ratings, please visit www.crisilratings.com or contact Customer Service Helpdesk at [email protected] or at 1800-267-1301
A subsidiary of CRISIL Limited, an S&P Global Company Corporate Identity Number: U67100MH2019PLC326247
CRISIL Ratings Limited
Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001 www.crisilratings.com
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Annexure 1 - Bank-wise details of various facility classes (outstanding facilities)
| S.No. | Bank Facility | Bank | Amount (Rs. in Crore) |
Outstanding Rating |
|---|---|---|---|---|
| 1 | Bank Guarantee | State Bank of India | 3 | CRISIL A1 |
| 2 | Cash Credit | State Bank of India | 9 | CRISIL A+/Negative |
| 3 | Fund-Based Facilities | Kotak Mahindra Bank Limited |
45 | CRISIL A+/Negative |
| 4 | Letter of Credit | State Bank of India | 1 | CRISIL A1 |
| 5 | Letter of Credit | HDFC Bank Limited | 50 | CRISIL A1 |
| 6 | Non-Fund Based Limit | The Hongkong and Shanghai BankingCorporation Limited |
40 | CRISIL A1 |
| 7 | Proposed Long Term Bank Loan Facility |
-- | 6 | CRISIL A+/Negative |
| Total | 154 |
2. Interchangeable up to Rs 7.5 crore with export packing credit, packing credit in foreign currency, export bill discounting/rediscounting.
3. Interchangeable with WCDL up to Rs. 35 crores; Interchangeable with Cash Credit up to Rs. 15 crores; Interchangeable with EPC / PCFC I up to Rs. 35 crores; Interchangeable with FBN / FBD / FBP / PSFC up to Rs. 35 crores; Interchangeable with EPC / PCFC II up to Rs. 10 crores
5. Interchangeable with sales bill discounting up to Rs. 20 crores; Interchangeable with purchase bill discounting up to Rs. 20 crores; Interchangeable with SBLC up to Rs. 20 crores; Interchangeable with Bank Guarantee up to Rs. 20 crores; Interchangeable with preshipment finance up to Rs. 20 crores; Interchangeable with post-shipment finance up to Rs. 20 crores; Interchangeable with sales invoice financing up to Rs. 10 crores; Interchangeable with Working Capital Demand Loan and Cash Credit up to Rs. 25 crores
6. Interchangeable with Working Capital Demand Loan up to Rs. 40 Crores, Overdraft up to Rs. 2 Crores and Export Bill Discounting up to Rs. 20 Crores
Disclaimer : A rating by CRISIL Ratings reflects CRISIL Ratings’ 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 Ratings. Our ratings are based on information provided by the issuer or obtained by CRISIL Ratings from sources it considers reliable. CRISIL Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by CRISIL Ratings 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. CRISIL Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. CRISIL Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. CRISIL Ratings’ criteria are available without charge to the public on the web site, www.crisilratings.com . CRISIL Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by CRISIL Ratings, please visit www.crisilratings.com or contact Customer Service Helpdesk at [email protected] or at 1800-267-1301
CRISIL Ratings Limited
A subsidiary of CRISIL Limited, an S&P Global Company Corporate Identity Number: U67100MH2019PLC326247
Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001 www.crisilratings.com