August 16, 2019 / 6:55 AM / 4 days ago

CARE ratings for Indian debt instruments-Aug 16

    Aug 16 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 14, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Adyaraj Developers Pvt Ltd            ST Bk Fac          CARE A4        40      -
Issuer Not Cooperating based on best available information
Allen Reinforced Plastics Pvt Ltd     ST Bk Fac          CARE A4        140     -
Issuer not co-operating Based on best available information

Bhagyoday Agro Industries             ST Bk Fac          CARE A4        28      -
Issuer Not Cooperating; Based on best available information
Divine Board Pvt Ltd                  ST Bk Fac          -              -       Withdrawn
Ecl Finance Ltd                       CP (IPO Financing) CARE A1+       50000   Assigned
Edelweiss Rural & Corporate Services  CP (IPO Financing) CARE A1+       50000   Assigned
Ltd (Erstwhile Edelweiss Commodities
Services Ltd)
Elite Infra Projects Pvt Ltd          ST Bk Fac          CARE D         95
Issuer not co-operating Based on best available information
Hyquip Technologies Ltd               ST Bk Fac          CARE D         13      -
Issuer not co-operating Based on best available information
Jayaraj Fortune Packaging Pvt Ltd     ST Bk Fac          CARE A4        37.5    -
Issuer not co-operating Based on best available information
Kamakshi Flexiprints Pvt Ltd          Short- term Bk Fac CARE A4+       45      Reaffirmed
Laser Power And Infra Pvt Ltd         ST Bk Fac          -              -       Withdrawn
Lyophilization Systems India Pvt Ltd  ST Bk Fac          CARE A4        40      -
Issuer not co-operating Revised from CARE A4+; Issuer not co-operating Based on best available
information
Master Construction Company           ST Bk Fac          CARE A4        20
Issuer not co-operating Based on best available information
Nayaab Jewels                         ST Bk Fac          CARE D         2.7     -
Issuer Not Cooperating; Based on best available information
Nb Entrepreneurs                      ST Bk Fac          CARE A4        45      -
Issuer Not Cooperating; Based on best available information
North Bihar Construction Pvt Ltd      ST Bk Fac          CARE A4        84.7    -
Issuer Not Cooperating: based on best available information
Raipur Construction Pvt Ltd           ST Bk Fac          CARE A4        298.5   -
Issuer Not Cooperating based on best available information
Ratnagiri Seeds And Farm              ST Bk Fac          CARE A4        50      -
Issuer Not Cooperating; based on best available information.
Sabve Rohini Contractors Pvt Ltd      ST Bk Fac          -              -       Withdrawn
Sankar Marine Aquarium                ST Bk Fac          CARE A4        3       -
Issuer Not Cooperating based on best available information
Salasar Techno Engineering Ltd        ST Bk Fac          -              -       Withdrawn
Sri Lakshmi Rama Constructions        ST Bk Fac          CARE A4        47.7    Assigned
Simplex Infrastructures Ltd           CP@                -              -       Withdrawn
@carved out of working capital limits
Spark Electricals                     ST Bk Fac          -              -       Withdrawn
Sunmark Ceramic                       ST Bk Fac          -              -       Withdrawn
Thangavel Fabrics Pvt Ltd             ST Bk Fac          CARE A4        173     -
Issuer not co-operating Based on best available information

LONG TERM RATINGS:
-------------------
Aashirwad Industries Pvt Ltd          LT Bk Fac          CARE D         138     -
Issuer Not Cooperating; based on best available information
Adyaraj Developers Pvt Ltd            LT Bk Fac          CARE B+        10
Revised from CARE BB-; Issuer Not Cooperating based on best available information
All Well Hospital & Research InstituteLT Bk Fac          CARE BB-       75      -
Pvt Ltd
Issuer Not Cooperating; based on best available information
Allen Reinforced Plastics Pvt Ltd     LT Bk Fac          CARE BB-       60      -
Issuer not co-operating Revised from CARE BB; Stable Issuer not co-operating Based on best
available information
Allen Reinforced Plastics Pvt Ltd     LT/ST Bk Fac       CARE BB-/A4    50      -
Issuer not co-operating Revised from CARE BB; Stable/CARE A4 Issuer not co-operating Based on
best available information
Anjani Polytec Pvt Ltd                LT Bk Fac          CARE B         100     -
Issuer Not Cooperating; revised from CARE B+; Stable on the basis of best available information.
Antony Road Transport Solutions Pvt LtLT Bk Fac          CARE B+        414.3   -
Issuer Not Cooperating; Based on best available information
Balaji Motors                         LT Bk Fac          CARE BB-       98      -
Issuer Not Cooperating based on best available information
Bhagyoday Agro Industries             LT Bk Fac          CARE B+        76      -
Issuer Not Cooperating; Based on best available information
Bhagyoday Agro Industries             Long/ ST Bk Fac    CARE B+/A4     20      -
Issuer Not Cooperating; Based on best available information
Bihani Binayake Cotex Pvt Ltd         LT Bk Fac          CARE B+        106.9   -
Issuer Not Cooperating; Based on best available information
Bisi Engineering                      LT Bk Fac          CARE B         70      -
Issuer Not Cooperating; Revised from CARE B+;Stable; Issuer Not Cooperating based on best
available information.
Chaman Lal Setia Exports Ltd          LT/ ST Bk Fac      CARE A-/A2+    1000    Reaffirmed
(enhanced from Rs. 75 crore)
Cotton Works                          LT Bk Fac          CARE BB+       140.8   Assigned
Cotton Works                          LT / ST Bk Fac     CARE BB+/A4+   8.7     Assigned
Divine Board Pvt Ltd                  LT Bk Fac          -              -       Withdrawn
Divine Board Pvt Ltd                  LT/ST Bk Fac       -              -       Withdrawn
Dq Entertainment (International) Ltd  LT Bk Fac          CARE D         1555.8
“Issuer Not Cooperating; Based on best available information”
Elite Infra Projects Pvt Ltd          LT Bk Fac          CARE D         60
Issuer not co-operating Based on best available information
Ellenabad Steel Pvt Ltd               LT Bk Fac          CARE D         95      -
Issuer Not Cooperating; based on best available information
Flock Fabs (India)                    LT Bk Fac          CARE BB+       129.3   Assigned
Flock Fabs (India)                    LT/ST Bk Fac       CARE BB+/A4+   20.7    Assigned
Gehlot Enterprise                     LT Bk Fac          CARE D         90      -
Issuer Not Cooperating; revised from CARE B+; Stable; Issuer Not Cooperating on the basis best
available information
Hadoti Power Transmission Service Ltd LT Bk Fac          CARE A-        1720
Revised from CARE BBB+
Hyquip Technologies Ltd               LT Bk Fac          CARE D         21.4    -
Issuer not co-operating Based on best available information
Jain Cord Industries Pvt Ltd          LT Bk Fac          CARE BB+       220     Assigned
Jain Cord Industries Pvt Ltd          LT/ ST Bk Fac      CARE BB+/A4+   247.9   Assigned
Jayaraj Fortune Packaging Pvt Ltd     LT Bk Fac          CARE B+        145     -
Issuer not co-operating Based on best available information
Kaizen Autocars Pvt Ltd               LT Bk Fac          CARE B         95.7
Issuer Not Cooperating; Based on best available information
Kamakshi Flexiprints Pvt Ltd          Long- term/Short-  CARE BB+/A4+   85
                                      term Bk Fac
Rating reaffirmed and outlook revised from Stable to Positive
L. N. Fields Pvt Ltd                  LT Bk Fac          CARE B         160     -
Issuer Not Cooperating; Revised from CARE B+; Stable(Single B Plus; Outlook: Stable) based on
best available information
Laser Power And Infra Pvt Ltd         LT Bk Fac          -              -       Withdrawn
Lyophilization Systems India Pvt Ltd  LT Bk Fac          CARE BB        25      -
Issuer not co-operating Revised from CARE BB+; Stable Issuer Not Cooperating Based on best
available information
Madhuri P Rural Godowns               LT Bk Fac          CARE D         99.7
Revised from CARE B+
Master Construction Company           LT Bk Fac          CARE B         70
Issuer not co-operating Based on best available information
Mahestala Agro Foods Pvt Ltd          LT Bk Fac          CARE BB-       173     -
Issuer Not Cooperating based on best available information
Mandakini Pachimatla                  LT Bk Fac          CARE D         92.5
Revised from CARE B+
Mangala Seeds                         Long -term Bk Fac  CARE B+        80      -
Issuer Not Cooperating: Based on best available Information
Navin Cotton Fiber                    LT Bk Fac          CARE B         90      -
Issuer Not Cooperating; Revised from CARE B+; on the basis of bestavailable information
Nayaab Jewels                         LT Bk Fac          CARE D         175     -
Issuer Not Cooperating; Based on best available information
Nb Entrepreneurs                      LT Bk Fac          CARE BB        20      -
Issuer Not Cooperating;Based on best available information
North Bihar Construction Pvt Ltd      LT Bk Fac          CARE B+        12.3
Revised from CARE BB-; Stable;Issuer Not Cooperating based on best available information
Northern Arc 2019 Cv Ulana Originator Series A1 PTCs     CARE A(SO)     74.1
Mahaveer Finance India Ltd
Final Rating Assigned
Northern Arc 2019 Cv Ulana Originator Series A2 PTCs     CARE A-(SO)    25.8
Mahaveer Finance India Ltd
Final Rating Assigned
Ozone Infra Projects                  LT Bk Fac          CARE D         60      -
Issuer Not Cooperating; Based on best available information
P. N. Gawande Ginning Pressing And OilLT Bk Fac          CARE B-        80      -
Mill Pvt Ltd
Issuer Not Cooperating; Revised from CARE B; on the basis of best available information
Pullani Engineers Pvt Ltd             LT Bk Fac          -              -       Withdrawn
Raipur Construction Pvt Ltd           LT Bk Fac          CARE BB        1.5     -
Issuer Not Cooperating based on best available information
Ratnagiri Seeds And Farm              LT Bk Fac          CARE B         50      -
Issuer Not Cooperating; Revised from CARE B+ based on best available information.
Sabve Rohini Contractors Pvt Ltd      LT Bk Fac          -              -       Withdrawn
Salasar Techno Engineering Ltd        LT Bk Fac          -              -       Withdrawn
Sankar Cotton Traders                 Long -term Bk Fac  CARE B+        100     -
Issuer Not Cooperating; Based on best available Information
Sankar Marine Aquarium                LT Bk Fac          CARE B         80.5
Revised from CARE B+; Issuer Not Cooperating based on best available information
Sansar Trust June 2019 Originator     Second Loss        CARE A (SO)    1556    Assigned
Shriram Transport Finance Co. Ltd     Facility
Sansar Trust June 2019 Originator     Series A PTC       CARE AAA (SO)  26315.3 Assigned
Shriram Transport Finance Co. Ltd
Shambhu Mahadev Sugar & Allied        LT Bk Fac          CARE D         284.3   -
Industries Ltd
Issuer Not Cooperating; Revised from CARE B+; Issuer Not Cooperating Based on best available
information.
Simplex Infrastructures Ltd           LT Bk Fac          CARE BBB       26000
Revised from CARE A -
Simplex Infrastructures Ltd           NCDs               CARE BBB       4950
Revised from CARE A -
Simplex Infrastructures Ltd           Long/ST Bk Fac     CARE BBB/A3+   79000
Revised from CARE A-
Somula Constructions Pvt Ltd          LT Bk Fac          CARE B-        75      -
Issuer not co-operating Revised from CARE B; Stable Issuer not co-operating Based on best
available information
Spark Electricals                     LT/ST Bk Fac       -              -       Withdrawn
Sri Lakshmi Rama Constructions        LT Bk Fac          CARE BB-       30      Assigned
Sunmark Ceramic                       LT Bk Fac          -              -       Withdrawn
Thangavel Fabrics Pvt Ltd             LT Bk Fac          CARE BB-       150     -
Issuer not co-operating Revised from CARE BB; Stable Issuer not co-operating Based on best
available information
Universal Steel                       LT Bk Fac          CARE BB-       70      -
Issuer not co-operating Based on best available information
Vivriti Allan 09 2018 (Originator     Series A1 PTCs     -              -       Withdrawn
Midland Microfin Ltd (Mml))
Vivriti Allan 09 2018 (Originator     Series A2 PTCs     -              -       Withdrawn
Midland Microfin Ltd (Mml))
Vivriti Sanji 06 2019 Originator      Series A PTCs      CARE A+ (SO)   500
Asirvad Microfinance Ltd
Final Rating 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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