ICRA Suspends Rating for Kailash Oil Cake Industries

Strategic Insights -

Kailash Oil Cake Industries, a leading crushing and refining company in Gujarat, has had its long-term working capital facilities rating suspended by ICRA, due to the company's failure to provide requisite information. The suspension of ICRA's rating surveillance has raised concerns about the company's ability to meet its debt obligations. Despite its history dating back to 1970, the company has faced challenges in recent years, including the change in ownership in 2009.

Key Takeaways:

  • The ICRA rating for Kailash Oil Cake Industries has been suspended due to the company's inability to provide necessary information for rating surveillance.
  • The company was founded by Mr. Pravinbhai Ghadia in 1970 and has undergone a change in ownership in 2009.
  • Kailash Oil Cake Industries operates crushing, refining, and solvent extraction facilities with a total intake capacity of 380 MTPD for crushing and 450 MTPD for solvent extraction.
  • The company's manufacturing unit operates on a rental basis and has been involved in various oilseed processing operations.
  • ICRA's suspension of the rating raises concerns about the company's debt repayment capabilities.

Statistics:

  • The total intake capacity for crushing at Kailash Oil Cake Industries is 380 MTPD.
  • The total intake capacity for solvent extraction at Kailash Oil Cake Industries is 450 MTPD.
  • The company operates on a rental basis at its manufacturing unit in Palanpur, Gujarat.
  • The ICRA rating for Kailash Oil Cake Industries has been suspended, pending further information from the company.

Sources:

  • ICRA Limited, "Rating Information"
  • ICRA Limited, "Firm Profile: Kailash Oil Cake Industries"