April 23, 2020 / 8:12 AM / a month ago

CARE ratings for Indian debt instruments-Apr 23

    Apr 23  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of April 22, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Dhariwal Steel Pvt Ltd               ST BkFac          CARE A4;      14
Issuer not cooperating; based on best available information
G. K. And Sons Automobiles Pvt Ltd   ST BkFac          CARE A4;      40
Issuer not cooperating; based on best available information

Jasol Chawal Pvt Ltd                 ST BkFac          CARE A4;      20
Issuer not cooperating; based on best available information
Meril Life Sciences Pvt Ltd          CP (CP) Issue#    CARE A1+      250    Reaffirmed
#Carved out of working capital limits
Meril Life Sciences Pvt Ltd          CP (CP) Issue#    CARE A1+      250    Final Rating
                                                                            Assigned
#Carved out of working capital limits
Nagraj Industries                    Short -term Bk FacCARE A4;      18     -
Issuer not cooperating; based on best available information
Nigamananda Cold Storage Pvt Ltd     ST BkFac          CARE A4;      2.5    -
Issuer not cooperating; based on best available information
Nirman Engicons Pvt Ltd              ST BkFac          CARE A4;      30     -
Issuer not cooperating; based on best available information
Trimax It Infrastructure & Services  ST BkFac          CARE D;       6502.8 –
Ltd
Issuer not cooperating; based on best available information
Sunteck Realty Ltd                   ST Bk Fac –       CARE A1+      100    Reaffirmed
                                     Non-Fund based
Sunteck Realty Ltd                   CP issue#         CARE A1+      1000   Reaffirmed
#Based on the undertaking from the company that overdraft/line of credit to remain unutilized to
the extent of outstanding commercial paper at any point of time 
Taro Tagia Construction              ST BkFac          CARE A4;      20     -
Issuer not cooperating; based on best available information
The Sun Rolling Mills Pvt. Ltd.      ST Bk Fac         CARE A4;      15     -
Issuer not cooperating; based on best available information

MEDIUM TERM RATINGS:
-------------------
Unique Estates Development Co. Ltd   Fixed Deposits    CARE AA-      700    Revised from
                                                                            CARE AA-


LONG TERM RATINGS:
-------------------
Aditi Deva Mills Pvt Ltd             LT BkFac          CARE B;       69.2   Revised from
                                                       Stable;              CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Amneal Pharmaceuticals Pvt Ltd       LT/ ST BkFac      CARE BBB-;    500    Assigned
                                                       Stable/CARE A3
Bajaj Electricals Ltd                CP                -             -      Withdrawn
Dhariwal Steel Pvt Ltd               LT BkFac          CARE B-;      50     Revised from
                                                       Stable;              CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
Enchikandathil Jewellery             Long -term BkFac  CARE B-;      80     Revised from
                                                       Stable;              CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
G. K. And Sons Automobiles Pvt Ltd   LT BkFac          CARE B-;      118.5  Revised from
                                                       Stable;              CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
G.R Multiflex Packaging Pvt Ltd      LT Bk Fac         CARE D;       120
Issuer not cooperating; based on best available information
Greenko Clean Energy Projects Pvt LtdLT Instruments    -             -      Withdrawn
                                     (NCD)
Greenko Clean Energy Projects Pvt LtdLT Instruments    -             -      Withdrawn
                                     (NCD)
Indian Railway Finance Corporation   Market Borrowing  CARE AAA Stabl580000 Assigned
Ltd                                  Programme (FY’21)
Jasol Chawal Pvt Ltd                 LT BkFac          CARE C;       100    Revised from
                                                       Stable;              CARE B-;
                                                                            Stable
Issuer not cooperating; based on best available information
Jayanti Contractors And Engineers LtdLT Bk Fac         CARE B;       91.5   Revised from
                                                       Stable;              CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Jm Financial Services Ltd            CP                -             -      Withdrawn
List Of Instruments With No          NCD               CARE A        1200   -
Confirmation On Payment Status
Issuer not cooperating; based on best available information,CARE has sought confirmation from
the Issuer on interest payment. The issuer has communicated to CARE that they have applied for
deferral on interest payment. No formal communication has been received from the investor so
far. 
List Of Instruments With No          NCD               CARE A        1800   -
Confirmation On Payment Status
Issuer not cooperating; based on best available information,CARE has sought confirmation from
the Issuer on interest payment. The issuer has communicated to CARE that they have applied for
deferral on interest payment. No formal communication has been received from the investor so
far. 
List Of Instruments With No          NCD               CARE A        1200   -
Confirmation On Payment Status
Issuer not cooperating; based on best available information,CARE has sought confirmation from
the Issuer on interest payment. The issuer has communicated to CARE that they have applied for
deferral on interest payment. No formal communication has been received from the investor so
far. 
List Of Instruments With No          NCD               CARE A        1800   -
Confirmation On Payment Status
Issuer not cooperating; based on best available information,CARE has sought confirmation from
the Issuer on interest payment. The issuer has communicated to CARE that they have applied for
deferral on interest payment. No formal communication has been received from the investor so
far. 
M. B. Ispat Corporation Ltd          LT Bk Fac         CARE B+;      112.5
                                                       Stable;
Issuer not cooperating; based on best available information
Mb Sponge & Power Ltd                LT BkFac          CARE BB-;     116    Revised from
                                                       Stable;              CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
Nagraj Industries                    Long -term Bk Fac CARE B-;      62     Revised from
                                                       Stable;              CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
Nigamananda Cold Storage Pvt Ltd     LT BkFac          CARE B-;      107.5  Revised from
                                                       Stable;              CARE B; Stable
Issuer not cooperating; based on best available information
Nirman Engicons Pvt Ltd              LT BkFac          CARE B;       70     Revised from
                                                                            CARE B+
Issuer not cooperating; based on best available information
Prabhu Sponge Pvt Ltd                LT Bk Fac         CARE B-;      90     -
                                                       Stable;
Issuer not cooperating; based on best available information
Premdhara Agro India Llp             LT Bk Fac         CARE B+;      68.7   -
                                                       Stable;
Issuer not cooperating; based on best available information
Shanti Motors                        LT BkFac          CARE B;       55.8   Revised from
                                                       Stable;              CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Shree Sai Organic Foods Pvt Ltd      LT Bk Fac         CARE B;       103.5  Revised From
                                                       Stable;              CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Siba Habitats Pvt. Ltd.              LT Bk Fac         CARE B-;      59.7   Revised From
                                                       Stable;              CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
Sterling Port Ltd                    LT Bk Fac         CARE D;       2443.5 -
Issuer not cooperating; based on best available information
Sudha Siksha Sabha                   LT Bk Fac         CARE B+;      89     Assigned
                                                       Stable
Sunteck Realty Ltd                   LT Bk Fac – TL    CARE AA-;     5160   Outlook
                                                       Negative             revised from
                                                                            Stable to Negative
Sunteck Realty Ltd                   LT Bk Fac – Fund  CARE AA-;     5330   Outlook
                                     based             Negative             revised from
                                                                            Stable to Negative
Taro Tagia Construction              LT BkFac          CARE B-;      55     Revised from
                                                       Stable;              CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
The Sun Rolling Mills Pvt. Ltd.      LT Bk Fac         CARE BB-;     45     Revised From
                                                       Stable;              CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
Trimax Datacenter Services Ltd       LT Bk Fac         CARE D;       211.1  -
Issuer not cooperating; based on best available information
Trimax It Infrastructure & Services  LT BkFac          CARE D;       8634   -
Ltd
Issuer not cooperating; based on best available information
Unique Estates Development Co. Ltd   LT Bk Fac (TL)    CARE AA-      3770   Revised from
                                                                            CARE AA-;
                                                                            Stable
Credit watch with Negative Implications
Unique Estates Development Co. Ltd   LT Bk Fac         CARE AA-      400    Revised from
                                     (Overdraft)                            CARE AA-;
                                                                            Stable
Credit watch with Negative Implications
--------------------------------------------------------------------------------------------
$: 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@refinitiv.com)
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