KESORAM
www.kesocorp.com
KIL/SH/SE/Ratings/SS/2016
08.01.2016
BSE Limited
25" Floor,
Phiroze Jeejeebhoy Towers
Dalal Street, Fort,
Mumbai- 400001
Maharashtra
Dear Sirs,
In Compliance of Clause 30 read with Clause 3 of Para A of Part A of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015, this is to inform you that there is no change in the credit rating for
Bank facilities aggregating Rs, 4,369.64 crores as issued by the CARE.
Ratings. A letter issued by the said Agency under reference no.
CARE/KRO/RL/2015-16/1625 dated January 04, 2016 is enclosed
herewith for your reference and record,
Thanking you,
Yours faithfully,
For KESORAM INDUSTRIES LTD
Suresh Sharma
(Authorised Signatory)
Encl: as above.
P +91 33.2243 5453, 2242 9454 Kesocarn Industies Limited
+91 33 2048 0764, 2213 0441 Registered & Corporate Office
F +91 33.2210 9485 911 RN, Mukherige Road, Kolkata - 700.001
E : comorate@kesoran.net CIN LI7119wB1919PLC003429/ a8 Ratings | ea
Profesional Rsk Opinion, bates
No.CARE/KRO/RL/2015-16/1625
Shri T.K. Das
Chief Financial Officer
Kesoram Industries Limited
Birla Building (8 Floor)
9/1, RN. Mukherjee Road
Kolkata - 700 001
January 04, 2016
Confidential
Credit rating for bank facilities aggregating Rs.4,369.64 crore
(On a review of recent developments including operational and financial performance of your
company for FY15 and HIFY16 and signing of binding term sheet with JK Tyre to divest
Cavendish Industries Ltd (9996 subsidiary of KIL having a tyre unit of Laksar) for a consideration
of Rs.2,195 crores and the possible impact of the same =» the credit profile of your company,
our Rating Committee has reviewed the following ratings:
ji ‘mount ;
y ¥ ari Rath Remarks
| — (Rcrorg) pe
| tonto sank cies 246968 CARER ele Rin)
an ane: SCARE A+ (A Two plus) | “Continues
[Shortterm BankFaclities ’ Credit Watch _ under credit
Ga ae Single A minus] | watch
| Long/Short-term Bank Facilities | 1,30000 CARE A2+ (A Two plus)
| __ “credit Watch
| 4308.64 | j
| (Rupees Four Thousand Three !
| wl Hundred Sirty Nine erre and
L soy fourtakhony) _|
2. Refer Annexure 1 for details of rated facilities
3. CARE will take a view on the ratings once the exact implications of the above on the credit risk
profile of the company are clear.
4. The rationale for the aforesaid ratings will be communicated to you separately.
5. CARE reserves the right to undertake @ surveillance/review of the rating from time to time,
"complete definitions of the ratings essigned ore ovoilable ot wnyu.coreratings.com ond other CARE publications
La “
CREDIT ANALYSIS & RESEARCH LTD.
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Eastern Epis Highway, Stn) Mamba 0002 TDA Shakespeare Stents 700071
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Citv-467290MH19930LC07 1691based on circumstances warranting such review, subject to at least one such
review/surveillance every year.
CARE reserves the right to suspend/withdraw/revise the rating assigned on the basis of new
information or in the event of failure on the part of the company to furnish such information,
material or clarifications as may be required by CARE. CARE shall also be entitled to
publicize/disseminate such suspension / withdrawal / revision in the assigned rating in any
manner considered appropriate by it, without reference to you.
CARE ratings do not take into account the sovereign risk, if any, attached to the foreign
currency loans, and the ratings are applicable only to the rupee equivalent of these loans.
Users of this rating may kindly refer our website www.ca eratings.com for latest update on the
outstanding rating.
CARE ratings are not recommendations to sanction, renew, disburse or recall the concerned
bank facilities.
If you need any clarification, you are welcome to approach us in this regard.
Thane ou,
Yours faithfully, ee
ae 7
yer Quer
(Rabin Bihani) o-{Vineet Chamaria)
Deputy Manager ‘Manager
rabin.bihani@careratings.com vineet.chamaria@careratings.com
Encl: As above
Disaimer |
CARE’s ratings are opinions on credit quality and are not recommendations to sanction, renew, disburse or recall |
the concerned ban faites orto buy, sel or old ary secur. CARE has based its ratings on information obtained
Itomnaoutces beloved by tobe gecuroe and relabl. CARE doesnot, Rowever, guarantee the accuracy, adequacy
tr completeness of any information and Is not responsible fr any errors or omissions of fr the resus obtained
ffom the ue of such information, Most entities whose bank fcities/nstruments are rated by CARE have paid
{reditrating fee, bosed on the amount and typeof bank fcities/nstruments.
| incase of portnersippropietary cancers the rating assigned by CARE is based on the capa deployed by the
torners/proprietor and the financial strength ofthe frm at present. The rating may undergo change in case of
| Gihrawalof capa! or the unsecued loans brought in by the artnrs/prpritor in adtion to the financial
| terformance and ether relevant factors _— |
CREDIT ANALYSIS & RESEARCH LTD.
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‘CIN-L67190NH1993PLCO716911. Long-term facilities
Annexure 1
Details of Rated Facilities
Term Loans
(No: | NanieortheBar ae Repayment Teims
k 2S | ipsserte) : _
! F Quarterly instalments of As. 1625 crore each from Dec's to
| ceca 72:50 | Mar'2016 and installments of Rs. 10 crore from Jun'2016 to Mar'2017
“2 Tee bank 780.00
3 | Bank of Baroda “60.00 | 1 annual installment of Rs. 60 crares each in Mar 6.
3 Quarterly installments of Rs. 41.67 crores each from Feb'2016 and !
ae 166.64 | installment of Rs. 41.63 crores in Nov
j_3__| South indian Bank 95.50 | 26 structured quarterly installments from Sep'iS.__
[76 [South indian Bank 150.00 | Repayment in 20 equal quarterly installments commencing from Jan"
7. | South indian Bank 44.00 | 23 structured quarterly installments from Sep'tS.
'_| South indian Bank 3H,00 | 22 structured quarterly installments from Oec'iS.
‘9 | indusind Bank 210.00 | F ¢
“ToT ndusing Bank 400,00 [12 equal quarterly ins iments starting from Sep'16.
Repayable in 12 quart~ly instalments - 10 installments of Rs. 38 croves
11 | Axis Bank 400.00 | each and balance 2 installments of Rs, 35 crores each starting from
_ Nov'6.
12 | indusind Bank 125,00 _| Bullet Repayment in Feb’ 17.
13 | indusind Bank 225.00 | Bullet Repayment in Dec 16
14_[ es Bank 250.00 | Repayment in 12 equal quarterly ir i from Oct'16
[Frotat _ _
2. Short-term facilities
‘Non fund based limits - Bank Guarantee / Letter of Credit /Buyer's Credit
Namelofi ‘Amount (Rs. Crore) Remarks
(2 [ser 350.00 |
2 [PNB - 4000
3_ | HOFC Bank 7 15,00
SCB ~ “730.00 7
5 | Axis Bank 5.00
_ 7 Sanctioned & ted u
6 Iccl Bank 7 [01.00 meena
7__[Indusind Bank z [ "5.00 7
[Yes Bank — 4.00
‘9 [ING Wasa Bank - 10.00
Substotal 600.00
we ce
CREDIT ANALYSIS & RESEARCH LTD.
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(CIN-L67190MH1993PLC0716913. Long-term/ Short-term facilities
Fund based ~ Cash credit/Export packing credit/Packing credit in foreign currency
Wo. | ~ NameoftheBank SaPs =] Amount Remarks
eee (Rs:Crore)
aE 375.00
2] Hore Bank 13000__|
3 [ING Vysya Bank : 60.00
4 state bank of Hyderabad ~~ 30.00
5 | 08s. 715.00 |
a
7 | heater $000 | saaciond tindp
3 Ans Bank 25.00
10~[ ICG Bank 50.00.
11 | lndusind Bank 20.00
[7127 [South indian Bank - ~ 50.00,
Yes Bank 15.00
1 sa [Union Bank : 300.00
arur Vyasya Bank - 15.00 _
Proposed Limit 1500
[i Tsubaotat 7,300.00
Total Facilities Rated -Rs.4,369.64 crore.
CREDIT ANALYSIS & RESEARCH LTD.
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