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Crisil downgrades DCWMUMBAI: Crisil has downgraded the Rs 9.84 crore non-convertible debenture issue of DCW Ltd from "BBB+" ind...

Crisil downgrades DCW

MUMBAI: Crisil has downgraded the Rs 9.84 crore non-convertible debenture issue of DCW Ltd from "BBB+" indicating moderate safety to "C" signifying substantial risk in the investment. The fixed deposit programme of the company has also been downgraded by the rating agency from "FA", indicating adequate safety to "FC" signifying high risk in the investment.

The rating revision takes into account the continued deterioration in the financial risk profile of DCW, which coupled with large loan repayment requirements, is expected to constrain the debt-servicing ability of the company, Crisil said in a statement on Saturday.

Sundaram Fasteners Q1 net profit up

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NEW DELHI: Sundaram Fasteners has recorded a 44.6 per cent jump in net profit during the first quarter of 1999-2000 to touch Rs 10.22 crore as against Rs 7.05 crore a year earlier. It achieved a total domestic sales of Rs 89.20 crore, up 33 per cent from Rs 67.06 crore a year earlier. Exports amounted to Rs 14.75crore as against Rs 13.15 crore last year. Net sales for the quarter stood at Rs 103.95 crore as against Rs 80.21 crore in the same period last year.

Tata Donnelley Q1 sales up 19.5 pc

MUMBAI: Tata Donnelley has reported 19.5 per cent growth in its sales for first quarter of 1999-2000 to Rs 17.63 crore as against sales of Rs 14.89 crore recorded in April-June period last year.

Net profits for the first three months of 1999-2000 stood at Rs 1.07 crore, 5.6 per cent rise over profit after tax for first quarter of previous year of Rs 1.02 crore.