March 9, 2017 / 5:49 AM / 5 months ago

CARE ratings for Indian debt instruments-Mar 9

22 Min Read

    Mar 9 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 8, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Anamika Conductors Pvt. Ltd.          ST Bk Fac          CARE A4+        440     Issuer not
                                                                                 cooperating
Ayushman Medical Diagnostics Pvt Ltd  ST Bk Fac          CARE A3         6.4     Revised from
                                                                                 CARE A4+
Bengal Antibiotics                    ST Bk Fac          CARE A4         6       Issuer not
                                                                                 cooperating
Bscpl Infrastructure Ltd              ST Bk Fac          CARE A4         800     Reaffirmed
Capri Global Capital Ltd              CP                 CARE A1+        2000    Reaffirmed
Card Pro Solutions Pvt Ltd            ST Bk Fac          CARE A4         23      Reaffirmed
Cox And Kings Ltd                     CP Issue (carved   CARE A1+        11220   Reaffirmed
                                      out) *
*Carved out of the sanctioned working capital limits of the company
Centuary Fibre Plates Pvt Ltd         ST Bk Fac          CARE A2+        11      Issuer not
                                                                                 cooperating
Daya Engineering Works Pvt Ltd        ST Bk Fac          CARE A3         5       Revised from
                                                                                 CARE A4
Dcm Shriram Industries Ltd            ST Bk Fac          CARE A2         895.1   Revised from
                                                                                 CARE A3
Golden Rock Granites Pvt Ltd          ST Bk Fac          CARE A4+        195     Reaffirmed
Icon Sleeper Track Pvt Ltd            ST Bk Fac          CARE A3         10      Revised from
                                                                                 CARE A4
Indian Acrylics Ltd                   ST Bk Fac          CARE A3         7.5     Assigned
Ind – Barath Thermal Power Ltd        LT Bk Fac – Non-FB CARE D          750     Revised from
                                                                                 CARE A4
Jai Bajrang Bajaj                     ST Bk Fac          CARE A4         6       Issuer not
                                                                                 cooperating
Jai Raj Ispat Ltd                     ST Bk Fac          CARE A2         161.7   Reaffirmed
Knack Technopack                      ST Bk Fac          CARE A4         3.5     Reaffirmed
Kuwar Tikamchand Jwellers Pvt Ltd     ST Bk Fac          CARE A4         55      Reaffirmed
Mahavir Coal Washeries Pvt Ltd        ST Bk Fac          CARE A3         40      Issuer not
                                                                                 cooperating
N. J. Textile Industries Pvt Ltd      ST Bk Fac          CARE A4         12.5    Reaffirmed
Nakoda Fruit Products Pvt Ltd         ST Bk Fac          CARE A4         70      Reaffirmed
Nilkanth Kraft Paper Mill             ST Bk Fac          CARE A4         3.3     Assigned
Nobel Hygiene Pvt Ltd                 ST Bk Fac (Non-FB) CARE A3+        164.2   Reaffirmed
Orchid Exim (India) Pvt Ltd           ST Bk Fac          CARE A4         14      Reaffirmed
Patil Rail Infrastructure Pvt Ltd     ST Bk Fac          CARE A3         30      Assigned
Prince Spinners Pvt Ltd               ST Bk Fac          CARE A4         24.5    Reaffirmed
Royal Infraconstru Ltd                ST Bk Fac          CARE A3         400     Reaffirmed
Rsv Global                            ST Bk Fac          CARE A4         1.1     Issuer not
                                                                                 cooperating
Sahanu Sponge And Power Ltd           ST Bk Fac          CARE A4         3       Reaffirmed
Sarmangal Synthetics Pvt Ltd          ST Bk Fac          CARE A4         9.8     Reaffirmed
Sentini Sanitarywares Pvt Ltd         ST Bk Fac          CARE A3         40      Assigned
Shah Steel Impex Pvt Ltd              ST Bk Fac          CARE A4         300     Issuer not
                                                                                 cooperating
Shree Malani Foams Pvt Ltd            ST Bk Fac          CARE A3+        12.5    Issuer not
                                                                                 cooperating
Singhi Cables And Conductors Pvt Ltd  ST Bk Fac          CARE A4         180     Issuer not
                                                                                 cooperating
Som Autotech Pvt Ltd                  ST Bk Fac          CARE A4         97.1    Reaffirmed
Sri Bhavani Traders                   ST Bk Fac          CARE A4         40      Reaffirmed
Skypoint Multitrade Pvt Ltd           ST Bk Fac          CARE D          100.5   Revised from
                                                                                 CARE A4
Talluri Textiles Pvt Ltd              ST Bk Fac          CARE A4         10      Reaffirmed
Temple Packaging Pvt Ltd              ST Bk Fac          CARE A2         50      Assigned
Turtle Ltd                            ST Bk Fac          CARE A3+        30.3    Reaffirmed
Umalaxmi Organics Pvt Ltd             ST Bk Fac          CARE A3+        15      Reaffirmed
Vikran Engineering And Exim Pvt Ltd   ST Bk Fac          CARE A3         100     Assigned



MEDIUM TERM RATINGS:
-------------------
Carthic Credits Ltd                   Fixed Deposit      -               -       Withdrawn
                                      Programme
Dcm Shriram Industries Ltd            Medium-term        CARE A- (FD)    150     Revised from
                                      Instruments –                              CARE BBB+ (FD)
                                      Fixed Deposit



LONG TERM RATINGS:
-------------------
Alwar General Finance Company Pvt. LtdLT Bk Fac          CARE BB         100     Reaffirmed
Anamika Conductors Pvt. Ltd.          LT Bk Fac          CARE BB+        416.3   Issuer not
                                                                                 cooperating
Anamika Conductors Pvt. Ltd.          LT/ ST Bk Fac      CARE BB+ /CARE  350     Issuer not
                                                         A4                      cooperating
Avinash Transport                     LT Bk Fac          CARE BB-        99.5    Issuer not
                                                                                 cooperating
Ayushman Medical Diagnostics Pvt Ltd  LT Bk Fac          CARE BBB-       738.3   Revised from
                                                                                 CARE BB+
Bajoria Entertainment Pvt. Ltd.       LT Bk Fac          CARE BBB        300     Assigned
Balaji Wafers Pvt Ltd                 LT Bk Fac          CARE AA         1100    Reaffirmed
Bengal Antibiotics                    LT Bk Fac          CARE BB-        52      Issuer not
                                                                                 cooperating
Bhagwati Vintrade Pvt Ltd             LT Bk Fac          CARE BB         222.7   Issuer not
                                                                                 cooperating
Bscpl Infrastructure Ltd              LT Bk Fac          CARE BB-        8724.9  Reaffirmed
Bscpl Infrastructure Ltd              LT/ ST Bk Fac      CARE BB- /CARE  26115.8 Reaffirmed
                                                         A4
Capri Global Housing Finance Ltd      LT Bk Fac          Provisional     3000    Assigned
                                                         CARE A 
Card Pro Solutions Pvt Ltd            LT Bk Fac          CARE BB-        53.7    Reaffirmed
Centuary Fibre Plates Pvt Ltd         LT Bk Fac          CARE BBB+       115     Issuer not
                                                                                 cooperating
Cox And Kings Ltd                     LT Bk Fac          CARE AA         12460   Reaffirmed
Daya Engineering Works Pvt Ltd        LT Bk Fac – TL*    -               -       Withdrawn
*Rating withdrawn with immediate effect as the term loan and working capital demand loan has
been fully repaid by the company and there is no outstanding under the same facilities as on
date.
Daya Engineering Works Pvt Ltd        LT Bk Fac          CARE BBB-       100     Revised from
                                                                                 CARE BB
Daya Engineering Works Pvt Ltd        LT/ST Bk Fac       CARE BBB- / A3  25      Revised from
                                                                                 CARE BB /
                                                                                 CARE A4
Dcm Shriram Industries Ltd            LT Bk Fac          CARE A-         4211.1  Revised from
                                                                                 CARE BBB+
Goel Roadways                         LT Bk Fac          CARE BB-        60      Suspension
                                                                                 revoked and
                                                                                 rating revised
from CARE B
Golden Rock Granites Pvt Ltd          LT Bk Fac          CARE BB+        0.1     Reaffirmed
Goswami Infratech Pvt Ltd             LT NCDs (NCDs)     CARE AA+        -       Reaffirmed
                                      issue*
* backed by joint and several Credit Support Undertaking(CSU) from S C Finance and Investments
Pvt Ltd, S P Finance Pvt Ltd, Cyrus Investments Pvt. Ltd and Sterling Investment Corporation
Pvt. Ltd; jointly referred to as Credit Support Providers (CSPs); to unconditionally and
irrevocably ensure timely servicing of rated debt obligations. ^Amount outstanding as on January
31, 2017
Greater Hyderabad Municipal CorporatioProposed Bond IssueCARE AA         33000   Reaffirmed
Hinduja Tech Ltd                      LT/ ST Bk Fac      CARE BBB /CARE  350     Reaffirmed
                                                         A3+
Icon Sleeper Track Pvt Ltd            LT/ST Bk Fac       CARE BBB /CARE  170     Revised from
                                                         A3+                     CARE BB /
                                                                                 CARE A4
Icon Sleeper Track Pvt Ltd            LT Bk Fac          CARE BBB-;      30      Revised from
                                                                                 CARE BB
Ind – Barath Energy (Utkal) Ltd       LT Bk Fac          CARE D          28330   Reaffirmed
Ind – Barath Power Gencom Ltd         LT Bk Fac – FB     CARE D          2283.8  Reaffirmed
Ind – Barath Power Gencom Ltd         LT Bk Fac – Non-FB CARE D          960     Reaffirmed
Ind – Barath Thermal Power Ltd        LT Bk Fac – FB     CARE D          9405.6  Revised from
                                                                                 CARE BB
Indian Acrylics Ltd                   LT Bk Fac          CARE BBB-       790.9   Assigned
Jai Bajrang Bajaj                     LT Bk Fac          CARE BB         52.5    Issuer not
                                                                                 cooperating
Jai Raj Ispat Ltd                     LT Bk Fac          CARE A-         250     Reaffirmed
Khush Housing Finance Pvt Ltd         LT Bk Fac          CARE BBB-       1000    Assigned
Knack Polymers                        LT Bk Fac          CARE BB         20      Reaffirmed
Knack Polymers                        LT/ ST Bk FacilitieCARE BB/A4      52.5    Reaffirmed
Knack Technopack                      LT Bk Fac          CARE BB-        192.7   Reaffirmed
Knack Technopack                      LT/ ST Bk Fac      CARE BB- /CARE  85      Reaffirmed
                                                         A4
Kuwar Tikamchand Jwellers Pvt Ltd     LT Bk Fac          CARE BB-        81.8    Reaffirmed
Mahavir Coal Washeries Pvt Ltd        LT Bk Fac          CARE BBB        260     Issuer not
                                                                                 cooperating
Mahavir Coal Washeries Pvt Ltd        LT/Shortterm Bk FacCARE BBB /A3    100     Issuer not
                                                                                 cooperating
Matrix Agro Pvt Ltd                   LT Bk Fac          CARE BB         318.7   Issuer not
                                                                                 cooperating
Mittal Clothing Company               LT Bk Fac          CARE BB         205.1   Reaffirmed
N. J. Textile Industries Pvt Ltd      LT/ST Bk Fac       CARE BB+ /CARE  200     Reaffirmed
                                                         A4
Nakoda Fruit Products Pvt Ltd         LT Bk Fac          CARE B+         30      Reaffirmed
Natraj Rice Mills Pvt Ltd             LT Bk Fac          CARE BB-        259.5   Issuer not
                                                                                 cooperating
Nilkanth Kraft Paper Mill             LT Bk Fac          CARE B+         85      Assigned
Nilkanth Kraft Paper Mill             LT/ST Bk Fac       CARE B+ / A4    30      Assigned
Nobel Hygiene Pvt Ltd                 LT Bk Fac (TL)     CARE BBB        309.2   Reaffirmed
Nobel Hygiene Pvt Ltd                 LT Bk Fac (FB)     CARE BBB        420     Reaffirmed
Nsl Sez (Hyderabad) Pvt Ltd           LT Bk Fac          CARE BBB-       1007.5  Revised from
                                                                                 CARE BB+
Oceanic Buildcon Pvt Ltd              LT Bk Fac          CARE B+         78.4    Reaffirmed
Orchid Exim (India) Pvt Ltd           LT/ST Bk Fac       CARE BB-/CARE   120     Reaffirmed
                                                         A4
Pascos                                LT Bk Fac          CARE BBB-       750     Reaffirmed
Patil Rail Infrastructure Pvt Ltd     LT Bk Fac – TL*    -               -       Withdrawn
*Ratings withdrawn with immediate effect as the term loan and working capital demand loan has
been fully repaid by the company and there is no outstanding under the same facilities as on
date
Patil Rail Infrastructure Pvt Ltd     LT Bk Fac –        -               -       Withdrawn
                                      Working Capital
                                      Demand Loan*
*Ratings withdrawn with immediate effect as the term loan and working capital demand loan has
been fully repaid by the company and there is no outstanding under the same facilities as on
date
Patil Rail Infrastructure Pvt Ltd     LT Bk Fac          CARE BBB-       600     Revised from
                                                                                 CARE BB
Patil Rail Infrastructure Pvt Ltd     LT/ST Bk Fac       CARE BBB-/ A3   967.6   Revised from
                                                                                 CARE BB /
                                                                                 CARE A4
Premier Liquor India Ltd              LT Bk Fac          CARE BBB-       150     Reaffirmed
Prince Spinners Pvt Ltd               LT Bk Fac          CARE BB         177.2   Reaffirmed
Prince Spinners Pvt Ltd               LT/ Shortterm Bk   CARE BB /CARE   75      Reaffirmed
                                      Fac                A4
R.K. Infracorp Pvt Ltd                LT Bk Fac          CARE BBB        280     Reaffirmed
R.K. Infracorp Pvt Ltd                LT/ ST Bk Fac      CARE BBB /CARE  720     Reaffirmed
                                                         A3+
Reliance Big Pvt Ltd                  NCD                CARE A+ (SO) @  2661.2  Reaffirmed
@ backed by credit enhancement in the form of unconditional and irrevocable corporate guarantee
from Reliance Innoventures Ltd
Royal Infraconstru Ltd                LT Bk Fac          CARE BBB+       106.8   Reaffirmed
Royal Infraconstru Ltd                Long/ST Bk Fac     CARE BBB+ / A3+ 3550    Reaffirmed
Rsv Global                            LT Bk Fac          CARE BB         70      Issuer not
                                                                                 cooperating
Sahanu Sponge And Power Ltd           LT Bk Fac          CARE B+         112.1   Reaffirmed
Sarmangal Synthetics Pvt Ltd          LT Bk Fac          CARE BB         140     Revised from
                                                                                 CARE BB-
Saturn Rings & Forgings Pvt Ltd       LT Bk Fac          CARE D          400     Issuer not
                                                                                 cooperating
Sentini Sanitarywares Pvt Ltd         LT Bk Fac          CARE BBB-       1120    Reaffirmed
Shah Steel Impex Pvt Ltd              LT Bk Fac          CARE BB-        500     Issuer not
                                                                                 cooperating
Shining Sun Power (Telangana) Pvt Ltd LT Bk Fac@         CARE BBB        540     Assigned
@backed by unconditional and irrevocable corporate guarantee extended by Rays Power Infra
Private Limited
Shree Hardeo Industries               LT Bk Fac          CARE B+         64.4    Issuer not
                                                                                 cooperating
Shree Malani Foams Pvt Ltd            LT Bk Fac          CARE BBB        132.5   Issuer not
                                                                                 cooperating
Shree Yogiraj Industries              LT Bk Fac          CARE B          44.6    Assigned
Shyam Tea Plantation                  LT Bk Fac          CARE B+         69      Issuer not
                                                                                 cooperating
Singhi Cables And Conductors Pvt Ltd  LT Bk Fac          CARE BB-        20      Issuer not
                                                                                 cooperating
Skypoint Multitrade Pvt Ltd           LT Bk Fac          CARE D          84.8    Revised from
                                                                                 CARE BB+
Som Autotech Pvt Ltd                  LT Bk Fac          CARE B+         267.1   Revised from
                                                                                 CARE BB-
Sri Bhavani Traders                   LT Bk Fac          CARE BB         100     Reaffirmed
Surya Cotton Industries               LT Bk Fac          CARE B+         68.3    Reaffirmed
Talluri Textiles Pvt Ltd              LT Bk Fac          CARE BB         343.9   Reaffirmed
Temple Packaging Pvt Ltd              Bk Fac-FB - LT-TL  CARE BBB+       510     Assigned
Temple Packaging Pvt Ltd              Bk Fac-FB - LT-CC  CARE BBB+       290     Assigned
Turtle Ltd                            LT Bk Fac          CARE BBB+       510     Revised from
                                                                                 CARE BBB
Ujala Minerals                        LT Bk Fac          CARE B+         150     Issuer not
                                                                                 cooperating
Umalaxmi Organics Pvt Ltd             LT/ ST Bk Fac      CARE BBB /CARE  65      Reaffirmed
                                                         A3+
Vasa Nonwoven Industries Pvt Ltd      LT Bk Fac          CARE B+         50.9    Revised from
                                                                                 CARE B
Vikran Engineering And Exim Pvt Ltd   LT Bk Fac          CARE BBB-       100     Assigned
Vikran Engineering And Exim Pvt Ltd   LT/ ST Bk Fac      CARE BBB-/A3    300     Assigned

--------------------------------------------------------------------------------------------
$: 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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