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CRISIL has suspended its ratings on the bank facilities of Electrotherm (India) Ltd (EIL). This is because EIL has not been providing any information on its operations and financials to CRISIL. The suspension reflects CRISIL’s inability to maintain a valid rating in the absence of information from EIL. CRISIL has withdrawn its rating on EIL’s commercial paper, as there is no amount outstanding against the instrument. The rating action is in line with CRISIL’s withdrawal policy on commercial paper programme.
About the Company
Set up by Mr. Mukesh Bhandari and Mr. Shailesh Bhandari in 1985, Electrotherm is a pioneer in the induction furnace market. Over the years, the company has widened its capital goods portfolio to include products such as direct current plasma ladle refining furnaces, metal refining converters, and induction heating and hardening equipment. The company also manufactures steel and electrical vehicles.
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Media Contacts
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Analytical Contacts
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CRISIL Rating Desk
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Mitu Samar
Head, Market Development
& Communications
CRISIL Limited
Tel: +91-22- 3342 1838
Mobile No: +91- 9820061934
E-mail: msamar@crisil.com
Tanuja Abhinandan
Market Development
& Communications
CRISIL Limited
Tel: +91-22- 3342 1818
Email: tabhinandan@crisil.com
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Pawan Agrawal
Director - CRISIL Ratings
Tel: +91-22-3342 3301
Email: pagrawal@crisil.com
Ashutosh Satsangi
Head - CRISIL Ratings
Tel: +91-22-3342 3096
Email: asatsangi@crisil.com
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Tel: +91-22-3342 3047/3342 3064
Email:CRISILratingdesk@crisil.com
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Note:
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Crisil complexity levels are assigned to various types of financial instruments. The crisil complexity levels are available on
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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 3342 3047 / + 91 22 3342 3064 with queries on specific instruments.
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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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