January 24, 2013

Mumbai

Sacheta Metals Limited

Ratings Suspended

Total Bank Loan Facilities Rated	Rs.82.3 Million
Long-Term Rating	Suspended
Short-Term Rating	Suspended

(Refer to Annexure 1 for details on facilities)

CRISIL has suspended its ratings on the bank facilities of Sacheta Metals Ltd. (Sacheta). The suspension of ratings is on account of non-cooperation by Sacheta with CRISIL's efforts to undertake a review of the ratings outstanding. Despite repeated requests by CRISIL, Sacheta is yet to provide adequate information to enable CRISIL to assess Sacheta’s ability to service its debt. The suspension reflects CRISIL's inability to maintain a valid rating in the absence of adequate information. CRISIL considers information availability risk as a key credit factor in its rating process and non-sharing of information as a first signal of possible credit distress, as outlined in its criteria ‘Information Availability Risk in Credit Ratings’.

About the Company

Incorporated in 1988 as a private limited company, Sacheta manufactures aluminium utensils and sheet coil products. The company went public in 1995. It has two units in Sabarkantha (Gujarat), one for manufacturing aluminium utensils, and another for aluminium sheet coil products, with capacities of 800 tpa and 6000 tpa, respectively. It has recently set up a unit with additional aluminium foil and coil capacity of 3000 tpa.

Annexure 1 - Details of various bank facilities

Current facilities			Previous facilities
Facility	Amount (Mln)	Rating	Facility	Amount (Mln)	Rating
Letter of Credit	15	Suspended	Letter of Credit	15	CRISIL A4+
Packing Credit	60	Suspended	Packing Credit	60	CRISIL A4+
Term Loan	7.3	Suspended	Term Loan	7.3	CRISIL BB/Stable
Total	82.3	--	Total	82.3	--

Media Contacts	Analytical Contacts	CRISIL Rating Desk
Tanuja Abhinandan Communications and Brand Management CRISIL Limited Tel: +91-22- 3342 1818 Email: tanuja.abhinandan@crisil.com Shweta Ramchandani Communications and Brand Management CRISIL Limited Tel: +91-22- 3342 1886 E-mail: shweta.ramchandani@crisil.com	Subodh K Rai Senior Director - CRISIL Ratings Tel: +91-0124-672 2000 Email: subodh.rai@crisil.com Manish Kumar Gupta Director - CRISIL Ratings Tel: +91-0124-672 2000 Email:manish.gupta@crisil.com	Tel: +91-22-3342 3047/3342 3064 Email:CRISILratingdesk@crisil.com

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Last updated: April 30, 2012

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January 24, 2013	http://www.crisil.com