CARE ratings for Indian debt instruments-Apr 1

Mon Apr 1, 2013 4:58pm IST

Apr 1 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 28, 29, 30 & 31, 2013.

COMPANY                             INSTRUMENT           RATING        AMOUNT      MOVEMENT
                                                                       (RS.MLN)
-------                             ----------           ------        -------     ---------
SHORT TERM RATINGS:
-------------------
Ab Global Trade Pvt Ltd             ST Bk Fac           CARE A4         250        Reaffirmed
Agri Gold Foods And Farm Products   ST Bk Fac           CARE D          100        Revised from
Ltd                                                                                CARE A4
Associated Pigments Ltd             ST Bk Fac           CARE A4         340        Revised from
                                                                                   CARE A4+
Astron Paper & Board Mill Ltd       ST Bk Fac           CARE A4         10         Reaffirmed

Awate Engineering Pvt Ltd           ST Bk Fac           CARE A4         30         Assigned
Banco Aluminium Ltd                 ST Bk Fac           CARE A1         38         Reaffirmed
Bhoruka Power Corporation Ltd       ST Bk Fac/FB        CARE A2+        150        Revised from
                                                                                   CARE A1
Bhoruka Power Corporation Ltd       ST Bk               CARE A2+        150        Revised from
                                    Fac/Non-fund- Based                            CARE A1
Bla Coke Pvt. Ltd                   ST Bk Fac           -               750        Notice of
                                                                                   Withdrawal
Bright Autoplast Ltd                ST Bk Fac           CARE A2+        70         Assigned
Bssmpl Direct Assignment Mar '11 I  Assignee Payouts    CARE A1 (SO)               Withdrawn
Celebrations Apparel Ltd            ST Bk Fac           CARE A1+ (SO)   10         Reaffirmed
Celestial Biologicals Ltd           ST Bk Fac           CARE A2+ (SO)   100        Continues to
                                                                                   be under
                                                                                   Credit Watch
Delphi-Tvs Diesel Systems Ltd       ST Bk Fac           CARE A1         1390       Revised from
                                                                                   CARE A+
(reduced from 523.14)
Dineshchandra R. Agrawal Infracon   ST Fac              CARE A2         3850       Revised from
Pvt. Ltd                                                                           CARE A1
Dishman Pharmaceuticals And         ST Bk Fac           CARE A3         2681.7     Revised from
Chemicals Ltd                                                                      CARE A3+
Elder Pharmaceuticals Ltd           CP                  CARE A1         940        withdrawn
Electrosteel Steels Ltd             ST Bk Fac           CARE A4         8500       Reaffirmed
Enn Enn Corp Ltd                    ST Bk Fac           CARE A3         120        Reaffirmed
Essel Infraprojects Ltd             Short-TL            CARE A3+                   Withdrawn
Essel Infraprojects Ltd             ST Bk Fac(Non-fund  CARE A3+        3700       Reaffirmed
                                    Based)
Everblue Apparel Ltd                ST Bk Fac           CARE A1+ (SO)   50         Reaffirmed
Everonn Education Ltd               CP limit            CARE A3         250        withdrawn
Fives Combustion Systems Pvt. Ltd.  ST Bk Fac (Non      CARE A3+(SO)    120        Revised from
                                    Fund based)                                    CARE A3
(enhanced from 9)
Gangotri Sarangpur Sujalpur Tollway ST Bk Fac           CARE A4         33.7       Revised from
Pvt. Ltd                                                                           CARE A3 (SO)@
@ bank facilities are guaranteed by Gangotri Enterprises Limited. As the guarantor does not
provide any credit enhancement, rating has been assigned on a stan
Glass Equipment (India) Ltd.        ST Bk Fac $         CARE A2 (SO)    31         Revised from
                                                                                   CARE A1 (SO)
$ Backed by unconditional and irrevocable corporate guarantee of Hindusthan National Glass &
Industries Ltd
Godavari Biorefineries Ltd          ST Bk Fac           CARE A3         942        Reaffirmed
Gyscoal Alloys Ltd                  ST Bk Fac           CARE A4         280        Reaffirmed
Hindusthan National Glass &         ST debt (including  CARE A2         1750       Revised from
Industries Ltd.                     CP)*                                           CARE A1
*Carved out of working capital limits
Hi-Tech Pipes Ltd                   ST Bk Fac           CARE A4+        462.5      Assigned
India Today Fashions                ST Bk Fac           CARE A4         60         Assigned
Indraprastha Logistics Ltd          ST Bk Fac           CARE A4         50         Reaffirmed
Intas Biopharmaceuticals Ltd        ST Bk Fac           CARE A2+        100        Continues to
                                                                                   be under
                                                                                   Credit Watch
Iol Chemicals And Pharmaceuticals   ST Bk Fac           CARE A4         1451       Revised from
Ltd                                                                                CARE D
(enhanced from 130.10)
J P Extrusiontech Ltd               ST Bk Fac           CARE A4         25         Reaffirmed
Jagannath Extrusion India Ltd       ST Bk Fac           CARE A3         50         Reaffirmed
Jai Balaji Industries Ltd           ST Bk Fac           CARE A4         1354.1     Revised from
                                                                                   CARE D
(increased from 63)
Jindal Cotex Ltd                    ST Bk Fac           CARE A4         350        Revised from
                                                                                   CARE D
Ketan Construction Ltd              ST Bk Fac           CARE A4         500        Revised from
                                                                                   CARE A3
Khaitan Chemicals & Fertilizers Ltd ST Bk Fac           CARE A3         2000       Revised from
                                                                                   CARE A3+
Kn Resources Pvt Ltd                ST Bk Fac           CARE A3         790        Reaffirmed
Laxmi Power Cables Pvt Ltd          ST Bk Fac           CARE A4         70         Reaffirmed
Maithan Steel & Power Ltd           ST Bk Fac           CARE A4+        20         Revised from
                                                                                   CARE A3
Marco Cables Pvt Ltd                ST Bk Fac           CARE A4         80         Reaffirmed
Neepaz V. Forge (India) Ltd         ST facility         -               52.5       notice of
                                                                                   withdrawal
Neo Corp International Ltd          ST Bk Fac           CARE A3+        660        Reaffirmed
(enhanced from Rs.30 crore)
Ogene Systems India Pvt Ltd         ST Bk Fac           CARE A4         120        Assigned
Oracle Granito Ltd                  ST Bk Fac           CARE A3         150 %
(enhanced from Rs.13.50 crore)
Oswal Lumbers Pvt Ltd               ST Bk Fac           CARE A4         200        Assigned
Oswal Lumbers Pvt Ltd               ST Bk Fac           CARE A4         200        Assigned
Pravin Masalewale                   ST Bk Fac           CARE A3+        0.4        Reaffirmed
Prem Marbles Pvt Ltd                ST Bk Fac           CARE D          5          Assigned
Raymond Ltd                         ST Bk Fac           CARE A1+        3709.5     Reaffirmed
Raymond Ltd                         CP/ ST debt*        CARE A1+        2500       Reaffirmed
* The CP/STD outstanding of the company should not exceed the liquid investments held by the
company at any point of time.
Redstone Granito Pvt Ltd            ST Bk Fac           CARE A4         66         Reaffirmed
S. D. Corporation Pvt Ltd           Proposed CP*        CARE A1+ (SO)   500        Assigned
                                                        In-principle
* The proposed instrument is to be backed by an unconditional, irrevocable and continuing
Corporate Guarantee by Shapoorji Pallonji & Company Ltd.
S. G. Polyplast Pvt Ltd             ST Bk Fac           CARE A4         115        Reaffirmed
Sacos Indigo Pvt Ltd                ST Bk Fac           CARE A3+ (SO)   150        Reaffirmed
(enhanced from Rs.8 crore)
Sandeep Motors Pvt Ltd              ST Bk Fac           CARE A4+        94.3       Reaffirmed
Sanghi Brothers (Indore) Pvt Ltd    ST Bk Fac           CARE A3         220        Reaffirmed
Sarthak Industries Ltd              ST Bk Fac           CARE A4+        165        Assigned
Sarvodaya Suitings Ltd              ST Bk Fac           CARE A4         80         Reaffirmed
Shivek Labs Ltd                     ST Bk Fac           CARE A4+        290        Assigned
Shree Bharka (India) Ltd            ST Bk Fac           CARE A4         10         Assigned
Shree Bharka Sythetics Ltd          ST Bk Fac           CARE A4         17.5       Assigned
Shree Vaishnav Metal And Power Pvt. ST Bk Fac           CARE A3 (SO)    62         Assigned
Ltd.
Spml Infra Ltd                      ST Bk Fac           CARE A4+        4700       Revised from
                                                                                   CARE A3
(reduced from 2,378.80)
Sri Ramalingeswara Rice And Oil     ST Bk Fac           CARE A4         10.8       Assigned
Mills
Tdt Copper Ltd                      ST Bk Fac           CARE A3         970        Reaffirmed
(enhanced from 50)
Upper Ganges Sugar & Industries Ltd ST Bk Fac           CARE A4+        278        Revised from
                                                                                   CARE A3
Urbanedge Hotels Pvt Ltd            ST Bk Fac           CARE D          90         Assigned
Usher Agro Ltd                      ST Bk Fac           CARE A3+        430        Reaffirmed
Usher Eco Power Ltd                 IPO Grade           CARE IPO 2      850        Assigned
Uttam Sugar Mills Ltd               ST Bk Fac           CARE A4         557.5      Assigned
Vaibhav Laxmi Exports Pvt. Ltd.     ST Bk Fac           CARE A4         205        Assigned
Vibhu Impex Pvt Ltd                 ST Bk Fac           CARE A4+        290        Reaffirmed
Vishakha Polyfab Pvt Ltd            ST Bk Fac           CARE A3         210        Reaffirmed
(enhanced from Rs.16.50 crore)
Yojaka (India) Pvt Ltd              ST Bk Fac           CARE A4         1700       Reaffirmed

LONG TERM RATINGS:
-------------------
Ab Global Trade Pvt Ltd             LT Bk Fac           CARE BB         20         Reaffirmed
Abhijeet Bihar Roadways Ltd         Bk Fac              CARE BBB-                  Suspended
                                                        /CARE A3
Abhijeet Hazaribagh Toll Road Ltd   Bk Fac              CARE BBB-                  Suspended
                                                        /CARE A3
Abhijeet Toll Road Karnataka Ltd    LT Bk Fac           CARE BB (SO)    1330       Revised from
                                                                                   CARE BBB-(SO)
Adhunik Alloys & Power Ltd          Bk Fac                                         Suspended
Agri Gold Foods And Farm Products   LT Bk Fac           CARE D          437.4      Revised from
Ltd                                                                                CARE BB-
Ajmer Vidyut Vitran Nigam Ltd       LT Bk Fac           CARE BB         1000       Revised from
                                                                                   CARE BB+
Ambience Developers And             Bk Fac              CARE BB                    Suspended
Infrastructure Pvt Ltd
Ambience Hotels And Resorts Pvt Ltd Bk Fac              CARE BBB-                  Suspended
                                                        /CARE A3
Anshu'S Clothing Ltd                LT Bk Fac           CARE BB         90         Assigned
Arvindbhai Bechardas Jewellers Pvt  LT / ST Bk Fac      CARE BBB-       450        Reaffirmed
Ltd                                                     /CARE A3
Arya Energy Ltd.                    LT Bk Fac           CARE BBB-       410        Suspended
Associated Pigments Ltd             LT Bk Fac           CARE B          240        Revised from
                                                                                   CARE BB+
Astron Paper & Board Mill Ltd       LT Bk Fac           CARE BB         442.9      Reaffirmed
Awate Engineering Pvt Ltd           LT Bk Fac           CARE B+         46.8       Assigned
Banco Aluminium Ltd                 LT Bk Fac           CARE A-         155        Reaffirmed
Bangalore Motors Pvt Ltd            LT Bk Fac           CARE BBB-       50         Reaffirmed
Bank Of Maharashtra                 Upper Tier-II Bonds CARE AA         8500       Reaffirmed
Bank Of Maharashtra                 Perpetual Bonds     CARE AA         2250       Reaffirmed
Bank Of Maharashtra                 Tier-II             CARE AA+        4250       Reaffirmed
                                    Subordinated Bonds
(reduced from Rs.825 crore)
Bharat Timber And Construction Co   Bk Fac              -                          Suspended
Bhoruka Power Corporation Ltd       LT Bk Fac /TL       CARE A-         1278.3     Revised from
                                                                                   CARE A
Bhoruka Power Corporation Ltd       LT Bk Fac /CC       CARE A-         100        Revised from
                                                                                   CARE A
Bla Coke Pvt. Ltd                   LT Bk Fac           -               80         withdrawn
Bright Autoplast Ltd                LT Bk Fac           CARE A-         1984.6     Reaffirmed
(reduced from Rs.249.29 crore)
Burdwan Developers P Ltd            LT Bk Fac           CARE BBB-       100        Reaffirmed
Celebrations Apparel Ltd            LT Bk Fac           CARE AA- (SO)   123.3      Revised from
                                                                                   CARE AA (SO)
Celestial Biologicals Ltd           LT Bk Fac           CARE A- (SO)    142.3 %
 (reduced from Rs.24.59 crore)# Reduction in long term bank facilities also includes withdrawal
of rating assigned to a term loan of Rs.7.20 crore which has been fully repaid by the company
Concast Vyapar Ltd                  LT Bk Fac           CARE BB+        400        Revised from
                                                                                   CARE BBB-
(enhanced from 20)
Concast Vyapar Ltd                  LT / ST Bk Fac      CARE BB+        100        Revised from
                                                        /CARE A4+                  CARE BBB- /
                                                                                   CARE A3
Db Energy And Foods Pvt Ltd         Bk Fac              -                          Suspended
Delhi International Airport (P) Ltd Bk Fac              CARE A- (SO)               Withdrawn
Delphi-Tvs Diesel Systems Ltd       LT Bk Fac           CARE A          4736.2     Revised from
                                                                                   CARE A+
Delphi-Tvs Diesel Systems Ltd       LT / ST Bk Fac      CARE A/CARE A1  50.1       Revised from
                                                                                   CARE A+/
                                                                                   CARE A1+
(reduced from 140.0
Dewas Bhopal Corridor Ltd           LT Bk Fac           CARE BBB+       3721       Reaffirmed
Dighi Port Ltd.                     LT Fund Based Bk    CARE B+         8023       Reaffirmed
                                    Faciliti
Digital Ventures Pvt Ltd            LT Bk Fac           CARE BBB (SO)   1920       Reaffirmed
Digital Ventures Pvt Ltd            LT Bk Fac           CARE BBB- (SO)  406.7      Reaffirmed
Diligent Media Corporation Ltd      LT Bk Fac (TL)      CARE BB         2212.6     Revised from
                                                                                   CARE BBB-
Diligent Media Corporation Ltd      LT Bk Fac (FB)      CARE BB         665        Revised from
                                                                                   CARE BBB-
(enhanced from Rs.56.50 crore)
Dineshchandra R. Agrawal Infracon   LT Bk Fac           CARE BBB+       300        Revised from
Pvt. Ltd                                                                           CARE A
Dishman Fze                         LT Bk Fac           CARE BBB (SO)   743.9      Revised from
                                                                                   CARE BBB+
                                                                                   (SO)
Dishman Pharmaceuticals And         LT Bk Fac           CARE BBB        1567.2     Revised from
Chemicals Ltd                                                                      CARE BBB+
Dishman Pharmaceuticals And         NCD                 CARE BBB        1500       Revised from
Chemicals Ltd                                                                      CARE BBB+
Dishman Pharmaceuticals And         LT / ST Bk Fac      CARE BBB        250        Revised from
Chemicals Ltd                                           /CARE A3                   CARE BBB+ /
                                                                                   CARE A3+
Dte Exports Pvt Ltd                 LT/ST Bk Fac        CARE            200        Assigned
                                                        BBB+/CARE A2
Duet India Hotels (Pune) Pvt Ltd    Bk Fac              CARE BBB-                  Withdrawn
Earth Minerals Co. Ltd              Bk facility (TL)    CARE BBB (SO)   9.4        Withdrawn
Electrosteel Steels Ltd             LT Bk Fac           CARE B          83563      Revised from
                                                                                   CARE BB-
Electrosteel Steels Ltd             LT / ST Bk Fac      CARE B /CARE    7500       Revised from
                                                        A4                         CARE BB- /
                                                                                   CARE A4
Enn Enn Corp Ltd                    LT Bk Fac           CARE BBB-       2506.6     Reaffirmed
Era Landmarks Ltd                   LT Bk Fac           CARE BB+        477.6      Revised from
                                                                                   CARE BBB-
(enhanced from Rs.26.31 crore)
Essel Bhind Mihona Gopalpur Toll    LT Bk Fac (TL)      CARE BBB (SO)   745.7      Reaffirmed
Roads Ltd
Essel Bina Khimlasa Malthon Toll    LT Bk Fac (TL)      CARE BBB(SO)    538        Reaffirmed
Roads Ltd
Essel Damoh Jabalpur Toll Roads Ltd LT Bk Fac (TL)      CARE BBB(SO)    1319.5     Reaffirmed
Essel Infraprojects Ltd             LT Bk Fac (TL)      CARE BBB        2300       Reaffirmed
Essel Ludhina Talwandi Toll Roads   LT Bk Fac (TL)      CARE BBB (SO)   5239.5     Reaffirmed
Pvt Ltd
Everblue Apparel Ltd                LT Bk Fac           CARE AA- (SO)   129.9      Revised from
                                                                                   CARE AA (SO)
Expressway Pvt Ltd                  LT Bk Fac           CARE BB+        19937.3    Revised from
                                                                                   CARE BBB-
Expressway Pvt Ltd                  LT Bk Fac           CARE BB+        19937.3    Revised from
                                                                                   CARE BBB-
Fairdeal Textile Park Pvt Ltd       LT Bk Fac           CARE BBB-       104.5      Reaffirmed
Fives Combustion Systems Pvt. Ltd.  LT Bk Fac (Fund     CARE BBB+(SO)   60         Revised from
                                    Based)                                         CARE BBB
(enhanced from 5)
Gallops Motors Pvt Ltd              LT Bk Fac           CARE BB         330        Reaffirmed
Gangotri Deherdha Ishagarh Tollway  LT Bk Fac           CARE B          370        Revised from
Pvt. Ltd                                                                           CARE BBB
                                                                                   (SO)@
 @ bank facilities are guaranteed by Gangotri Enterprises Limited. As the guarantor does not
provide any credit enhancement, rating has been assigned on a standalone basis
Gangotri Enterprises Ltd            LT Bk Fac           CARE D          8200       Revised from
                                                                                   CARE BBB
Gangotri Jhabua Jobat Kukshi        LT Bk Fac           CARE B          870        Revised from
Tollway Pvt. Ltd                                                                   CARE BBB
                                                                                   (SO)@
 @ bank facilities are guaranteed by Gangotri Enterprises Limited. As the guarantor does not
provide any credit enhancement, rating has been assigned on a standalone basis
Gangotri Sarangpur Sujalpur Tollway LT Bk Fac           CARE B          200        Revised from
Pvt. Ltd                                                                           CARE BBB
                                                                                   (SO)@
 @ bank facilities are guaranteed by Gangotri Enterprises Limited. As the guarantor does not
provide any credit enhancement, rating has been assigned on a standalone basis
Gangotri Thandla Limdi Tollway Pvt. LT Bk Fac           CARE B          200        Revised from
Ltd                                                                                CARE BBB
                                                                                   (SO)@
 @ bank facilities are guaranteed by Gangotri Enterprises Limited. As the guarantor does not
provide any credit enhancement, rating has been assigned on a standalone basis
Gemini Industries & Imaging Ltd     NCD                 CARE BBB                   Suspended
Gera Developments Pvt Ltd           Proposed Long-TL    CARE A+         550        Assigned
                                    Fac (Secured TL)
Gera Developments Pvt Ltd           Proposed NCD        CARE A+         200        Assigned
Glass Equipment (India) Ltd.        LT Bk Fac $         CARE BBB+ (SO)  480        Revised from
                                                                                   CARE A+ (SO)
$ Backed by unconditional and irrevocable corporate guarantee of Hindusthan National Glass &
Industries Ltd
Gmr Pochanpalli Expressways Ltd     NCD*                "CARE AA (SO)?  5652.6     Revised from
                                                                                   "CARE AAA
                                                                                   (SO)?
*backed by securitization of the future NHAI annuity receivables
Godavari Biorefineries Ltd          Long-TL             CARE BBB-       3200       Reaffirmed
Godavari Biorefineries Ltd          LT Bk Fac (Fund     CARE BBB-       3817.5     Reaffirmed
                                    based)
Goodwill Hospital & Research Centre LT Bk Fac           CARE BB+        349.8      Revised from
Ltd                                                                                CARE BBB-
Greater Visakhapatnam Municipal     LT Bonds            CARE AA(SO)     1000       Reaffirmed
Corporation
Gspc Pipavav Power Co. Ltd          LT Bk Fac           CARE BBB        20665      Revised from
                                                                                   CARE A-
Gspc Pipavav Power Co. Ltd          LT / ST Bk Fac      CARE BBB        4335       Revised from
                                                        /CARE A3+                  CARE A-/CARE
                                                                                   A2+
Gujarat State Energy Generation Ltd LT Bk Fac           CARE BBB        8700.4     Revised from
                                                                                   CARE A-
(reduced from 950.00)
Gujarat State Energy Generation Ltd LT / ST Bk Fac      CARE BBB        1700       Revised from
                                                        /CARE A3+                  CARE A-/CARE
                                                                                   A2+
Gyscoal Alloys Ltd                  LT Bk Fac           CARE C          438.6      Revised from
                                                                                   CARE BB
(reduced by Rs.1.84 crore)
Havells India Ltd                   issuer rating       CARE AA                    Notice of
                                                                                   Withdrawal
Hindusthan National Glass &         LT Bk Fac           CARE BBB+       21909      Revised from
Industries Ltd.                                                                    CARE A+
Hindusthan National Glass &         NCD- Series-I       CARE BBB+       250        Revised from
Industries Ltd.                                                                    CARE A+
Hindusthan National Glass &         NCD- Series-III     CARE BBB+       2000       Revised from
Industries Ltd.                     (Tranche I & II)                               CARE A+
Hindusthan National Glass &         NCD- Series-III     CARE BBB+       2000       Revised from
Industries Ltd.                     (Tranche I & II)                               CARE A+
Hindusthan National Glass &         LT / ST Bk Fac      CARE BBB+ /     6000       Revised from
Industries Ltd.                                         CARE A2                    CARE A+ /
                                                                                   CARE A1
Hi-Tech Pipes Ltd                   LT Bk Fac           CARE BB+        656.6      Assigned
Hungama Digital Media Entertainment LT Bk Fac           CARE A-         750        Reaffirmed
Pvt Ltd
Indfab Projects Pvt. Ltd.           Bk Fac              -                          Suspended
India Today Fashions                LT Bk Fac           CARE BB-        1.2        Assigned
Indian Soya Industries Pvt Ltd      LT Bk Fac           CARE BB-        447.4      Reaffirmed
Indraprastha Logistics Ltd          LT Bk Fac           CARE B          700        Revised from
                                                                                   CARE BB
Intas Biopharmaceuticals Ltd        LT Bk Fac           CARE A-         450        Continues to
                                                                                   be under
                                                                                   Credit Watch
Intas Biopharmaceuticals Ltd        LT/ ST Bk Fac       CARE A- /       70         Continues to
                                                        CARE A2+                   be under
                                                                                   Credit Watch
Integerated Equipments &            Bk Fac              -                          Suspended
Infraservices (P) Ltd
Iol Chemicals And Pharmaceuticals   LT Bk Fac           CARE B+         3202.4     Revised from
Ltd                                                                                CARE D
(reduced from 345.21)
J P Extrusiontech Ltd               LT Bk Fac           CARE BB+        34.7       Reaffirmed
J P Extrusiontech Ltd               LT/ST Bk Fac        CARE BB+/CARE   35         Reaffirmed
                                                        A4
Jagannath Extrusion India Ltd       LT Bk Fac           CARE BBB-       11.7       Reaffirmed
Jagannath Extrusion India Ltd       LT / ST Bk Fac      CARE BBB-       34.5       Reaffirmed
                                                        /CARE A3
Jai Balaji Industries Ltd           LT Bk Fac           CARE B-         23276.8    Revised from
                                                                                   CARE D
(increased from 1614.13)
Jai Balaji Industries Ltd           LT / ST Bk Fac      CARE B-/CARE    963.6      Revised from
                                                        A4                         CARE D
( reduced from 136.75)
Jai Prakash Sewa Sansthan           LT Bk Fac           CARE A          1222.4     Reaffirmed
(enhanced from Rs.106.92 crore
Jaiko Industries                    LT Bk Fac           CARE BB+ (SO)   37         Reaffirmed
Jaiko Industries                    LT/ST Bk Fac        CARE BB+ (SO)   25         Reaffirmed
                                                        /CARE A4 (SO)
Jaiprakash Associates Ltd           NCD III ISSUE       CARE A+/CARE               withdrawn
                                                        A1
Jal Power Corporation Ltd           Bk Fac              CARE BBB-                  Suspended
Jindal Cotex Ltd                    LT Bk Fac           CARE C          1272.6     Revised from
                                                                                   CARE D
Jindal Medicot Ltd                  LT Bk Fac           CARE C          820        Revised from
                                                                                   CARE D
Jindal Specialty Textiles Ltd       LT Bk Fac           CARE C          1450       Revised from
                                                                                   CARE D
Jodhpur Vidyut Vitran Nigam Ltd     LT Bk Fac           CARE BB         700        Revised from
                                                                                   CARE BB+
Joy Hotels & Resorts Pvt Ltd        LT Bk Fac           CARE BB-        650        Revised from
                                                                                   CARE BB+
Kehems Engineering Pvt Ltd          Bk Fac                                         withdrawn
Ketan Construction Ltd              LT Bk Fac           CARE BB         420        Revised from
                                                                                   CARE BBB
(enhanced from Rs.22.89 crore)
Ketan Construction Ltd              LT / ST Bk Fac      CARE BB/CARE    4300       Revised from
                                                        A4                         CARE
                                                                                   BBB/CARE A3
(enhanced from Rs.325 crore)
Khaitan Chemicals & Fertilizers Ltd.LT Bk Fac           CARE BBB-       1934.4     Revised from
                                                                                   CARE BBB
Kiran Global Chems Ltd              LT Bk Fac           CARE BBB-       658        Reaffirmed
Kiran Global Chems Ltd              LT / ST Bk Fac      CARE            745        Reaffirmed
                                                        BBB-/CARE A3
Kn Resources Pvt Ltd                Long-TL             CARE BBB-       63         Reaffirmed
Kn Resources Pvt Ltd                LT/ST Fac           CARE BBB-       750        Reaffirmed
                                                        /CARE A3
Laxmi Power Cables Pvt Ltd          LT Bk Fac           CARE BB         80         Revised from
                                                                                   CARE BB+
Liberty Retail Revolutions Ltd      LT Bk Fac           CARE BBB+ (SO)  91.7       Reaffirmed
Liberty Urvarak Ltd                 Bk Fac              CARE BBB-                  Suspended
                                                        /CARE A3
Lodha Developers Pvt Ltd            LT Bk Fac           CARE BBB        3433.1     Revised from
                                                                                   CARE BBB-
(reduced from 583.34)
Madhya Pradesh Financial CorporationLT Bk Fac           CARE BBB+(SO)   500        Assigned
Maithan Steel & Power Ltd           LT Bk Fac           CARE BB+        587        Revised from
                                                                                   CARE BBB-
Malegaon Manmad Kopergaon           LT Bk Fac           CARE BBB+ (SO)  1488       Revised from
Infrastructure & Toll Roads Pvt Ltd                                                CARE A- (SO)
Marco Cables Pvt Ltd                LT Bk Fac           CARE BB         90         Revised from
                                                                                   CARE BB+
Modern Insecticides Ltd             LT / ST Bk Fac      CARE BB /CARE   177        Reaffirmed
                                                        A4
Muthoottu Mini Financiers Pvt Ltd   LT Bk Fac           CARE BB         3000       Reaffirmed
Nagreeka Foils Ltd                  Bk Fac              CARE A- /CARE              Suspended
                                                        A2+
Nandi Economic Corridor Enterprise  LT Bk Fac           CARE BBB-       4000       Reaffirmed
Ltd
*Forms part of total consortium loan of Rs.1650 crore
Neepaz V. Forge (India) Ltd         LT facility         -               1573.9     Withdrawn
Neo Corp International Ltd          LT Bk Fac           CARE BBB        1460.4     Reaffirmed
(enhanced from Rs.95.17 crore)
Ogene Systems India Pvt Ltd         LT Bk Fac           CARE BB-        440.4      Assigned
Ogene Systems India Pvt Ltd         LT / ST Bk Fac      CARE BB-/CARE   30         Assigned
                                                        A4
Oracle Granito Ltd                  LT Bk Fac           CARE BBB-       557.6      Revised from
                                                                                   CARE BBB
(reduced from Rs.63.63 crore)
Oswal Lumbers Pvt Ltd               LT Bk Fac           CARE BB         20         Assigned
Oswal Lumbers Pvt Ltd               LT Bk Fac           CARE BB         20         Assigned
P.G. Infrastructure & Services Pvt  LT Bk Fac           CARE B          148.9      Assigned
Ltd
Perfect Industries Pvt Ltd          Bk Fac              CARE BB /CARE              Suspended
                                                        A4
Pivotal Infrastructure Pvt Ltd      LT Bk Fac           CARE BB         600        Assigned
Prafful Overseas Pvt Ltd            Bk Fac              CARE BB /CARE              Suspended
                                                        A4
Pravin Masalewale                   LT Bk Fac           CARE BBB        310        Reaffirmed
Prem Marbles Pvt Ltd                LT Bk Fac           CARE D          88.6       Assigned
Prl Projects And Infrastructure Ltd LT Bk Fac           CARE C          50         Reaffirmed
Prl Projects And Infrastructure Ltd LT/ST Bk Fac        CARE C /CARE    300        Reaffirmed
                                                        A4
Pt. Deen Dayal Upadhaya Sikshan     Bk Fac              CARE BB-                   Suspended
Trust
Raiganj Dalkhola Highways Ltd       LT Bk Fac           CARE BB         3216.3     Revised from
                                                                                   CARE BBB-
Raj Homes Pvt Ltd                   Bk Fac              CARE BB                    Suspended
Rajasthan Rajya Vidyut Prasaran     LT Bk Fac           CARE BBB-       900        Reaffirmed
Nigam Ltd
Ramani Icecream Co. Ltd             LT Bk Fac           CARE C          173.1      Reaffirmed
Randhawa Construction Co            LT Bk Fac           CARE BBB-       23.5       Assigned
Randhawa Construction Co            LT/ST Bk Fac        CARE BBB-       188        Reaffirmed
Ratnasagar Herbals Pvt. Ltd         LT Bk Fac           CARE BBB-       150        Assigned
Raymond Ltd                         LT Bk Fac           CARE AA-        15850      Revised from
                                                                                   CARE AA
Raymond Ltd                         NCD                 CARE AA-        1750       Revised from
                                                                                   CARE AA
Redstone Granito Pvt Ltd            LT Bk Fac           CARE B+         500        Reaffirmed
S. G. Polyplast Pvt Ltd             LT Bk Fac           CARE BB-        30         Revised from
                                                                                   CARE BB
Sacos Indigo Pvt Ltd                LT Bk Fac           CARE BBB (SO)   485        Reaffirmed
(enhanced from Rs.28 crore)
Sagar Manufacturers Pvt Ltd         LT Bk Fac           CARE B+         650        Reaffirmed
Sancube Infra Projects Pvt Ltd      LT Bk Fac           CARE BBB- (SO)  450        Reaffirmed
Sancube Infra Projects Pvt Ltd      LT/ST Bk Fac        CARE BBB-       263.2      Reaffirmed
                                                        (SO)/CARE A3
                                                        (SO)
Sandeep Motors Pvt Ltd              LT Bk Fac           CARE BB         32.6       Reaffirmed
Sanghi Brothers (Indore) Pvt Ltd    LT Bk Fac           CARE BBB-       511.9      Revised from
                                                                                   CARE BBB
Sarthak Industries Ltd              LT Bk Fac           CARE BB+        10         Assigned
Sarthak Industries Ltd              LT/ ST Bk Fac       CARE BB+/CARE   10         Assigned
                                                        A4+
Sarvodaya Suitings Ltd              LT Bk Fac           CARE C          423.4      Reaffirmed
Scholar International Educational   LT Bk Fac           CARE B+         126.8      Revised from
Foundation                                                                         CARE BB-
(enhanced from 9.7)
Shapoorji Pallonji Roads Pvt Ltd    LT Bk Fac*          CARE AA+ (SO)   2160       Assigned
* The facilities are backed by an unconditional and irrevocable Corporate Guarantee extended by
Shapoorji Pallonji & Company Ltd.
Shivek Labs Ltd                     LT Bk Fac           CARE BB+        380.7      Assigned
Shrachi Burdwan Developers P Ltd    LT Bk Fac           CARE BBB-       100        Reaffirmed
Shree Bharka (India) Ltd            LT Bk Fac           CARE BB         26.9       Assigned
Shree Bharka (India) Ltd            LT/ST Bk Fac        CARE BB /CARE   95         Assigned
                                                        A4
Shree Bharka Sythetics Ltd          LT Bk Fac           CARE BB         12.5       Assigned
Shree Bharka Sythetics Ltd          LT/ ST Bk Fac       CARE BB/CARE    120        Assigned
                                                        A4
Shree Nakoda Industries Ltd         LT Bk facility      CARE B          200        Reaffirmed
Shree Vaishnav Metal And Power Pvt. LT Bk Fac           CARE BBB- (SO)  265        Assigned
Ltd.
Shri Agrawal Educational & Welfare  LT Bk Fac           CARE B+         277        Reaffirmed
Society
Skipper Ltd                         LT Bk Fac           CARE BBB        3089       Reaffirmed
(enhanced from 288)
Skipper Ltd                         LT / ST Bk Fac      CARE BBB/CARE   5300       Reaffirmed
                                                        A3
(enhanced from 344)
Snj Breweries Pvt Ltd               LT Bk Fac           CARE BB         1047.5     Reaffirmed
(reduced from 123.35)
Sphere Cube Infrastructure Pvt Ltd  LT Bk Fac           CARE BBB- (SO)  422.5      Reaffirmed
Sphere Cube Infrastructure Pvt Ltd  LT/ST Bk Fac        CARE BBB-       119.2      Reaffirmed
                                                        (SO)/CARE A3
                                                        (SO)
Spml Infra Ltd                      LT Bk Fac           CARE BB+        23617.3    Revised from
                                                                                   CARE BBB-
(reduced from 2,378.80)
Sri Ramalingeswara Rice And Oil     LT Bk Fac           CARE B+         280        Assigned
Mills
Summit Aviation Pvt Ltd             Bk Fac              CARE BBB-                  Suspended
Sunny Vista Realtors Pvt Ltd        Bk Fac              CARE BBB-                  Suspended
Suyojit Infrastructure              LT Bk Fac           CARE A- (SO)*   252.6      Reaffirmed
*under future toll receivables discounting programme and stipulated escrow mechanism
Tdt Copper Ltd                      LT Bk Fac           CARE BBB-       270        Reaffirmed
(reduced from 29.33)
The Mobile Store Ltd                Bk Fac              CARE BBB-(SO)   2538       Suspended
Trivedi Corp Pvt Ltd                Bk Fac              CARE C /CARE               Suspended
                                                        A4
Ucal Fuel Systems Ltd               LT Bk Fac (TL)      CARE BBB-       1797.3     Reaffirmed
(enhanced from Rs.149.73 crore)
Ucal Fuel Systems Ltd               LT Bk Fac (Fund     CARE BBB-       765        Assigned
                                    Based)
Upper Ganges Sugar & Industries Ltd LT Bk Fac           CARE BB+        3388.7     Revised from
                                                                                   CARE BBB-
Urbanedge Hotels Pvt Ltd            LT Bk Fac           CARE D          1788.6     Assigned
Usher Agro Ltd                      LT Bk Fac           CARE BBB+       6912.1     Reaffirmed
Usher Eco Power Ltd                 LT Bk Fac           CARE BB+        603.4      Reaffirmed
Uttam Sugar Mills Ltd               LT Bk Fac           CARE C          6920.4     Assigned
Vadinar Oil Terminal Ltd            LT Bk Fac           CARE BBB        30292.9    Assigned
Vishakha Polyfab Pvt Ltd            LT Bk Fac           CARE BBB-       466.5      Revised from
                                                                                   CARE BBB
(reduced from Rs.50.84 crore)
Western Mp Infrastructure & Toll    LT Bk Fac           CARE A-         5608.9     Reaffirmed
Roads Pvt Ltd
Wizcraft International              Bk Fac              CARE BB+                   Suspended
Entertainment Pvt Ltd                                   /CARE A4+
Yantra Esolarindia Pvt. Ltd         LT Bk Fac           CARE A- (SO)    154.9      Assigned
Yantra Esolarindia Pvt. Ltd         LT Bk Fac           CARE BB+        137.8      Assigned
Yojaka (India) Pvt Ltd              LT Bk Fac           CARE BB         939.5      Reaffirmed
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

CARE may apply + or - signs for ratings to reflect a comparative standing within the category.

BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate
of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial
Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference
shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN
-Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of
Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option
convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) -
Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non
Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over
Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture;
PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional;
PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass
Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference
notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured
Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short
Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable
Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures.

(Mumbai Rate Reporting Unit + 91 22 6180 7222/3317 7222, E-mail at rru.data@thomsonreuters.com)
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