August 2, 2019 / 10:02 AM / in 20 days

CARE ratings for Indian debt instruments-Aug 2

   Aug 2 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 1, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agarwals Carriers Corporation Of IndiaST Bk Fac          CARE A4        60      Reaffirmed
Atria Wind Power (Bijapur1) Pvt Ltd   ST Bk Fac          -              -       Withdrawn
Ducon Infratechnologies Ltd           ST Bk Fac          -              -       Withdrawn
Bajaj Electricals Ltd                 CP                 CARE A1        5000    Revised from
                                                                                CARE A1+
Raghav Cotspin Pvt Ltd                ST Bk Fac          CARE D         30      Revised from
                                                                                CARE A4
Shafa Educational Society             ST Bk Fac          -              -       Withdrawn
Enkay Texfab Pvt Ltd                  ST Bk Fac          CARE A4        1.2     -

(Issuer not cooperating); based on best available information
V-Mart Retail Ltd                     ST Bk Fac          -              -       Withdrawn
Geetanjali University                 ST Bk Fac          CARE A4        50      -
(Issuer not cooperating); based on best available information
I P Rice Industries                   ST Bk Fac          CARE A4        30      Assigned
Indfab Projects Pvt Ltd               ST Bk Fac          CARE A4        200     Reaffirmed
Kiran Gems Pvt Ltd                    ST Bk Fac          CARE A2+       2150    Revised from
                                                                                CARE A1 (
Sanrhea Technical Textile Ltd         ST Bk Fac          CARE A4        1.8     Reaffirmed
Shre Devaraja Agro Aseptic Industries ST Bk Fac          CARE A4        150     Assigned
Shree Hari Steel Industries           ST Bk Fac          CARE A4        40      -
(Issuer not cooperating); based on best available information
Malwa Strips Pvt Ltd                  ST Bk Fac          CARE D         32.5    revised from
                                                                                CARE A4
(Issuer not cooperating); based on best available information
Styrax Pharma Pvt Ltd                 ST Bk Fac          CARE A3        150     -
(Issuer not cooperating); based on best available information

LONG TERM RATINGS:
-------------------
Agarwals Carriers Corporation Of IndiaLT Bk Fac          CARE BB-       70.3    Revised from
                                                                                CARE B+
Al-Sami Agro Products Pvt Ltd         LT Bk Fac          CARE BB+       282     Revised from
                                                                                CARE BB
Al-Sami Food Exports Pvt Ltd          LT Bk Fac          CARE BB+       10      Revised from
                                                                                CARE BB-
Al-Sami Food Exports Pvt Ltd          LT Bk Fac          CARE BB+ /CARE 90      Revised from
                                                         A4                     CARE BB-;
                                                                                /CARE A4
Ashish Ship Breakers Pvt Ltd          LT / ST Bk Fac     CARE B+ /CARE  500     Revised from
                                                         A4                     CARE BB- /
                                                                                CARE A4
(Issuer not cooperating); based on best available information
Ashish Vessel Demolition Pvt Ltd      LT / ST Bk Fac     CARE B /CARE A4300     Revised from
                                                                                CARE B+ /
                                                                                CARE A4
Dmi Finance Pvt Ltd                   NCDs               CARE AA-       2850    Reaffirmed
Ducon Infratechnologies Ltd           LT Bk Fac          -              -       Withdrawn
Enkay Texfab Pvt Ltd                  LT Bk Fac          CARE BB        87.5    -
(Issuer not cooperating); based on best available information
Epari'S Jewellers                     LT Bk Fac          CARE B+        120     Assigned
Geetanjali University                 LT Bk Fac          CARE BB        288.6   Revised from
                                                                                CARE BB+
(Issuer not cooperating); based on best available information
Gold Palace Jewellers                 LT Bk Fac          CARE B         100     Assigned
I P Rice Industries                   LT Bk Fac          CARE B         26.5    Assigned
Indfab Projects Pvt Ltd               LT Bk Fac          CARE BB        37.5    Reaffirmed
Jainco Enterprises Pvt Ltd            LT Bk Fac          CARE BB+       50      Revised from
                                                                                CARE BB+
Jainco Enterprises Pvt Ltd            LT/ST Bk Fac       CARE BB+ /CARE 450     Revised from
                                                         A4+                    CARE BB+
Jath Wind Energy Pvt Ltd              LT Bk Fac          CARE BB        1350.9  Assigned
Kiran Gems Pvt Ltd                    LT Bk Fac          CARE A         24710   Revised from
                                                                                CARE A+
Kiran Jewelry                         LT Bk Fac          CARE A         1350    Revised from
                                                                                CARE A+
Kiran Jewels (India)                  LT Bk Fac          CARE A         100     Revised from
                                                                                CARE A+
Malwa Strips Pvt Ltd                  LT Bk Fac          CARE D         60      revised from
                                                                                CARE B
(Issuer not cooperating); based on best available information
Mevada Oil Mill Pvt Ltd               LT Bk Fac          CARE D         146     -
(Issuer not cooperating); based on best available information
Polymech Components Pvt Ltd           LT Bk Fac          CARE B-        104.3   Revised from
                                                                                CARE B
(Issuer not cooperating); based on best available information
Raghav Cotspin Pvt Ltd                LT Bk Fac          CARE D         515     Revised from
                                                                                CARE B
Raghav Cotspin Pvt Ltd                LT/ ST Bk Fac      CARE D/CARE D  28.5    Revised from
                                                                                CARE B;
                                                                                 / CARE A4
Renew Wind Energy (Rajasthan) Pvt Ltd LT Bk Fac          CARE BBB+      847.8   Revised from
                                                                                BBB
Robo Silicon Pvt Ltd                  LT Bk Fac          CARE BB+       503.6   Revised from
                                                                                CARE BB+
Sanrhea Technical Textile Ltd         LT/ST Bk Fac       CARE BB        83      Rating
                                                                                revised from
                                                                                CARE B+;
Shiv Cotton Industries                LT Bk Fac          CARE B         54      -
(Issuer not cooperating); based on best available information
Shre Devaraja Agro Aseptic Industries LT Bk Fac          CARE BB+       75      Assigned
Shree Hari Steel Industries           LT Bk Fac          CARE B+        60      Revised from
                                                                                BB
(Issuer not cooperating); based on best available information
Shrinath Cotton Industries            LT Bk Fac          CARE D         60.3    -
(Issuer not cooperating); based on best available information
Styrax Pharma Pvt Ltd                 LT Bk Fac          CARE BBB-      639.9   -
(Issuer not cooperating); based on best available information
Subhash Poultry Complex               LT Bk Fac          CARE B+        60      -
(Issuer not cooperating); based on best available information
Vizebh Agri Sciences Pvt Ltd          LT Bk Fac          CARE D         118.7   -
(Issuer not cooperating); based on best available information
V-Mart Retail Ltd                     LT Bk Fac          -              -       Withdrawn
--------------------------------------------------------------------------------------------
$: 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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