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CRISIL has suspended its ratings on the bank facilities of Nissan Copper Limited (NCL). This is because NCL has not been providing information on its operations and financials to CRISIL. The suspension of ratings reflects CRISIL’s inability to maintain a valid rating in the absence of information from the firm.
About the Company:
Incorporated in 1989, Nissan Copper manufactures copper tubes, pipes, billets, ingots, and related copper products at its units in Umergaon (Gujarat) and Silvassa (Dadra and Nagar Haveli). The company is promoted by Mr. Sanjay Mardia and Mr. Ratanlal Mardia. Nissan Copper sells its products primarily to the refrigeration, air-conditioning, automobile, gas, and construction sectors. The company has installed capacities of 3000 tonnes per annum (tpa) for copper pipes, 5400 tpa for extruded pipes, and 10,800 tpa for ingots. It is currently implementing a project for manufacturing inner groove copper tubes with a proposed capacity of 12,000 tpa.
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Analytical Contacts
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CRISIL Rating Desk
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Mitu Samar
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Tanuja Abhinandan
Communications and Brand Management
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Gurpreet S Chhatwal
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Subodh K Rai
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Email: srai@crisil.com
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Tel: +91-22-3342 3047/3342 3064
Email:CRISILratingdesk@crisil.com
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About CRISIL Limited
CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services. We are India's leading ratings agency. We are also the foremost provider of high-end research to the world's largest banks and leading corporations.
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Last updated: March 31, 2011
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. CRISIL Ratings’ rating criteria are generally available without charge to the public on the CRISIL public web site, www.crisil.com. 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) 3342 3000.
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