|
CRISIL has assigned its ratings of ‘D/P5’ to the bank facilities of IND Sphinx Precision Limited (ISPL). The ratings reflect the delay in debt repayment obligations owing to weak liquidity.
About the Company
ISPL was incorporated in 1987 by Mr. Sunil Taneja under a joint venture agreement with Sphinx Werke Mueller AG of Switzerland. The company manufactures tungsten carbide tools used in printed circuit board (PCB) drilling/routing and micromachining. The majority of ISPL’s products are sold in the export market. The manufacturing plant in Parwanoo, Himachal Pradesh has a capacity of 10.55 million units per annum. The company has recently ventured into non PCB tools namely Tool for micro Machining
For 2007-08 (refers to financial year, April 1 to March 31), ISPL reported a profit after tax of Rs.7.8 million on net sales of Rs.208 million, against Rs.20.8 million and Rs.251 million, respectively, in the previous year.
|
 |
|
Media Contacts
|
Analytical Contacts
|
CRISIL Rating Desk
|
Tanuja Abhinandan
Market Development & Communications
CRISIL Ltd.
Tel: +91-22-6758-8046
Facsimile: +91-22-6758-8088
Email: tabhinandan@crisil.com
Jyoti Parmar
Market Development & Communications
CRISIL Ltd.
Tel: +91-22-6758-8054
Facsimile: +91-22-6758-8088
Email: jparmar@crisil.com
|
Gurpreet S Chhatwal
Director - CRISIL Ratings
Tel: +91-11-4250 5100
Email: gchhatwal@crisil.com
Mohit Makhija
Senior Manager - CRISIL Ratings
Tel: +91-11-4250 5100
Email: mmakhija@crisil.com
| Tel: +91-22-6691 3047 / 6691 3064
Email: CRISILratingdesk@crisil.com
|
|
Note:
This Rating Release is transmitted to you for the sole purpose of dissemination through your newspaper / magazine / agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit to CRISIL. However, CRISIL alone has the sole right of distribution of its Releases for consideration or otherwise through any media including websites, portals etc.
|
CRISIL Complexity Levels are assigned to various types of financial instruments. The CRISIL Complexity Levels are available on www.crisil.com/complexity-levels. Investors are advised to refer to the CRISIL Complexity Levels for instruments that they propose to invest in. Investors can also call the CRISIL Helpline at +91 22 6691 3047 / + 91 22 66913064 with queries on specific instruments.
|
|
CRISIL is India's leading Ratings, Research, Risk and Policy Advisory company. CRISIL leverages its core strengths of credibility and analytical rigour to deliver opinions and solutions, that help clients mitigate and manage their business and financial risks, make markets function better, and help shape public policy. For more information, visit www.crisil.com.
Disclaimer: A CRISIL rating reflects CRISIL's 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. CRISIL ratings are based on information provided by the issuer or obtained by CRISIL from sources it considers reliable. CRISIL does not guarantee the completeness or accuracy of the information on which the rating is based. A CRISIL rating 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. All CRISIL ratings are under surveillance. Ratings are revised as and when circumstances so warrant. CRISIL is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of this product. For the latest rating information on any instrument of any company rated by CRISIL, please contact CRISIL RATING DESK at CRISILratingdesk@crisil.com, or at (+91 22) 6691 3001 - 09.
|
|
