August 5, 2019 / 4:31 AM / 14 days ago

CARE ratings for Indian debt instruments-Aug 5

    Aug 5 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 2, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aesthetic Stamping & Laminations Ltd  ST Bk Fac          5              CARE    Reaffirmed
                                                                        A4+
Anukool India Pvt Ltd                 ST Bk Fac          100            CARE A4 Reaffirmed
Apcotex Industries Ltd                ST Bk Fac          400            CARE    Assigned
                                                                        A1+
Ashaganga Exports                     ST Bk Fac          130            CARE A4+
Revised from CARE A4
Atria Wind Power (Bijapur1) Pvt Ltd   ST Bk Fac          -              -       Withdrawn
Bhawani Prasad Sharma Contractor      ST Bk Fac          42.5           CARE A4
“Issuer not cooperating; based on best available information”
Contour Steel Engineering India Pvt LtST Bk Fac          20             CARE A4 -
Issuer not co-operating based on best available information
Corona Vitrified Pvt Ltd              ST Bk Fac          30             CARE A4 Reaffirmed
Flamingo Pharmaceuticals Ltd          ST Bk Fac          130            CARE D  -
                                      (Non-Fund Based)
Issuer not cooperating;Based on best available information
G P Cottfab Pvt Ltd                   ST Bk Fac          2.5            CARE D
“Issuer not cooperating; based on best available information”
Greenland Paper Mills Ltd             ST Bk Fac          14             CARE A4 Reaffirmed
Infinity Infratech                    ST Bk Fac          6              CARE A4 -
Issuer not cooperating; Based on Best available Information
Kag Granito Llp                       ST Bk Fac          35             CARE A4 Reaffirmed
Kalapara Kishan Himghar Pvt Ltd       ST Bk Fac          -              -       Withdrawn
Kbk Plascon Pvt Ltd                   ST Bk Fac          -              -
Withdrawn
Khanna Polyrib Pvt Ltd                ST Bk Fac          -              -
Withdrawn
Krishna Transnational Marbles Pvt Ltd ST Bk Fac          10             CARE A4 -
Issuer not cooperating; Based on best available information
Mittapalli Agro Products Pvt. Ltd.    ST Bk Fac          5              CARE A4 Assigned
Nandi Pipes Pvt Ltd                   ST Bk Fac          10             CARE D  -
Issuer not cooperating; Reaffirmed on the basis of best available information
Neuland Laboratories Ltd              ST Bk Fac          1189           CARE    Reaffirmed
                                                                        A3+
R. K. Exports (Karur) Pvt Ltd         ST Bk Fac          100            CARE A4 Reaffirmed
Restoration Engineers                 ST Bk Fac          67.5           CARE A4 -
Issuer not cooperating; Based on best available information
S.Pal Enterprises Pvt Ltd             ST Bk Fac          105            CARE A4 -
Issuer not cooperating; on the basis of best available information
Shri Mangal Motors                    ST Bk Fac          3              CARE A4 -
Issuer not cooperating based on best available information
Sigma Projects Inc                    ST Bk Fac          53             CARE A4 -
Issuer not co-operating based on best available information
Smsea Marines Pvt Ltd                 ST Bk Fac          85             CARE A4 -
Issuer not co-operating based on best available information
Snr Edatas Pvt Ltd                    ST Bk Fac          145            CARE A4 -
Issuer not co-operating based on best available information
The Rajaratna Mills Pvt Ltd           ST Bk Fac          102.9          CARE A4 -
Issuer not co-operating based on best available information
Yerrow Finance & Investments Pvt Ltd  Proposed CP issues 150            CARE    Reaffirmed
                                                                        A4+

LONG TERM RATINGS:
-------------------
Aesthetic Stamping & Laminations Ltd  LT Bk Fac          46.1           CARE BB Reaffirmed
(reduced from 5.18 Crore)
Aesthetic Stamping & Laminations Ltd  LT Bk Fac /ST Bk   85             CARE    Reaffirmed
                                      Fac                               BB/
                                                                        CARE A4+
Anukool India Pvt Ltd                 LT Bk Fac          110.4          CARE BB
Rating revised from CARE BB-
Apcotex Industries Ltd                LT Bk Fac          1000           CARE    Assigned
                                                                        AA-
Ashaganga Exports                     LT Bk Fac          14.6           CARE BB+
Revised from CARE BB; (reduced from 1.97 Crore)
Bellefonds                            LT Bk Fac          80             CARE B  -
Issuer not cooperating; Revised from CARE B+; Issuer not cooperating; based on best available
information.
Bajaj Steels And Industries Ltd       LT Bk Fac          -              -       Withdrawn
Bhawani Prasad Sharma Contractor      LT Bk Fac          18.5           CARE B+
“Issuer not cooperating; Revised from CARE BB- on the basis of best available information”
Brahmmas Agro Industries Pvt Ltd      LT Bk Fac          250            CARE BB Reaffirmed
Creino Ventures                       LT Bk Fac          -              -       Withdrawn
Clan Vitrified Pvt Ltd                LT Bk Fac          304.4          CARE    Reaffirmed
                                                                        BB-
Clan Vitrified Pvt Ltd                LT Bk Fac/ ST Bk   52             CARE    Reaffirmed
                                      Fac                               BB-/
                                                                        CARE A4
Coffee Day Global Ltd                 LT Bk Fac-TL       724.1          CARE A
Revised from CARE AA-; Placed on credit watch with negative implications
Coffee Day Global Ltd                 LT Bk Fac- Working 3972           CARE A
                                      Capital
Revised from CARE AA-; Placed on credit watch with negative implications
Contour Steel Engineering India Pvt LtLT Bk Fac          60             CARE B+ -
Issuer not co-operating Revised from CARE BB- Issuer not co-operating Based on best available
information
Corona Vitrified Pvt Ltd              LT Bk Fac          80             CARE BB-
Revised from CARE BB
Dhipl Projects Pvt Ltd (Erstwhile DecoLT Bk Fac          600            CARE
Home India Pvt Ltd)                                                     BB+
Rating revised from CARE BB
Ecomotel Hotel Ltd                    LT Bk Fac          116.5          CARE D  -
Issuer not cooperating;Based on best available information
Flamingo Pharmaceuticals Ltd          LT /ST Bk Fac      750            CARE D  -
                                      (Fund Based)
Issuer not cooperating;Based on best available information
Flamingo Pharmaceuticals Ltd          LT Bk Fac – TL     1378.2         CARE D  -
Issuer not cooperating;Based on best available information
G P Cottfab Pvt Ltd                   LT Bk Fac          196.2          CARE D
“Issuer not cooperating; based on best available information”
Greenland Paper Mills Ltd             LT Bk Fac          43.1           CARE BB Reaffirmed
(reduced from 4.52 Crore)
Gujarat Colourlam Pvt Ltd             LT Bk Fac          148.5          CARE    -
                                                                        BB+
Issuer not cooperating;Based on best available information
Indian Receivable Trust 16 2018       Series A PTCs      -              -       Withdrawn
India Flysafe Aviation Ltd            LT Bk Fac          747.6          CARE BB Reaffirmed
(reduced from 96.12 Crore)
Infinity Infratech                    LT Bk Fac          49.1           CARE B  -
Issuer not cooperating; Revised from CARE B+; Issuer not cooperating on the basis of best
availableinformation
Ishita Buildcon Pvt Ltd               LT Bk Fac          100            CARE B-
“Issuer not cooperating; revised from CARE B; Issuer not cooperating; on the basis of best
available information”
Jayshree Grain Processing Pvt Ltd     LT Bk Fac          -              -       Withdrawn
Kag Granito Llp                       LT Bk Fac          225.6          CARE    Reaffirmed
                                                                        BB-
(reduced from 24.10 Crore)
Kalapara Kishan Himghar Pvt Ltd       LT Bk Fac          -              -       Withdrawn
Kbk Plascon Pvt Ltd                   LT Bk Fac          -              -
Withdrawn
Khanna Polyrib Pvt Ltd                LT Bk Fac          -              -
Withdrawn
Kalosona Himghar Udyog Pvt Ltd        LT Bk Fac          62             CARE    -
                                                                        B1+
Issuer not cooperating based on best available information
Kaveri Ginning Industries Pvt Ltd     LT Bk Fac          173.4          CARE BB
Revised from CARE BB; (reduced from 18.22 Crore)
Krishna Transnational Marbles Pvt Ltd Long -term Bk Fac  50             CARE B+ -
Issuer not cooperating; Based on best available information
Lion Insulation Pvt Ltd               LT Bk Fac          73.3           CARE D
“Issuer not cooperating; based on best available information”
M.S. Reddy                            Long -term Bk Fac  74             CARE B  -
Issuer not cooperating; Revised from CARE B+; on the basis of best available information
Made Easy Education Pvt Ltd           Long- Term Bk Fac  455            CARE    -
                                                                        BB+
Issuer not cooperating; Revised from CARE BBB+; Issuer not cooperating on the basis of best
available information
Mittapalli Agro Enterprises           LT Bk Fac          30             CARE BB Assigned
Mittapalli Agro Enterprises           LT/ST Bk Fac       70             CARE    Assigned
                                                                        BB/
                                                                        CARE A4
Mittapalli Agro Exports               LT/ST Bk Fac       150            CARE    Assigned
                                                                        BB/
                                                                        CARE A4
Mittapalli Agro Products Pvt. Ltd.    LT/ST Bk Fac       390            CARE    Assigned
                                                                        BB/
                                                                        CARE A4
Mukti Firms Pvt Ltd                   LT Bk Fac          75.9           CARE B  -
Issuer not cooperating based on best available information
Nandi Pipes Pvt Ltd                   LT Bk Fac          84             CARE D  -
Issuer not cooperating; Reaffirmed on the basis of best available information
Navami Plaza Pvt Ltd                  LT Bk Fac          100            CARE B+ -
Issuer not cooperating Based on best available information
Neotech Foundries Pvt Ltd             LT Bk Fac          95.4           CARE B+ -
Issuer not cooperating based on best available information
Neuland Laboratories Ltd              LT Bk Fac          2941.7         CARE    Reaffirmed
                                                                        BBB+
Orianaa Decorpack Pvt Ltd             LT Bk Fac          144            CARE B+ Reaffirmed
(reduced from 15 Crore)
Pluz Resort                           LT Bk Fac          57             CARE B+ -
Issuer not cooperating;Based on best available information
Precision Bearings Pvt Ltd            LT/ ST Bk Fac      200            CARE
                                                                        BB- /
                                                                        CARE A4
Issuer not co-operating; On the basis of Best Available Information
R. K. Exports (Karur) Pvt Ltd         Long -term Bk Fac  174.1          CARE B+
Revised from CARE BB-
Rajganga Agro Product Pvt Ltd         LT Bk Fac          50             CARE BB Reaffirmed
Rajganga Agro Product Pvt Ltd         LT Bk Fac          95             CARE    Reaffirmed
                                      /Short term Bk Fac                 BB/
                                                                        CARE A4
Ramesh Singh                          LT Bk Fac          50             CARE B+ Reaffirmed
Rcs Steel & Auto Pvt Ltd              LT Bk Fac          39.8           CARE B-
“Issuer not cooperating; revised from CARE B; Issuer not cooperating; on the basis of best
available information”
Restoration Engineers                 LT /ST Bk Fac      50             CARE    -
                                                                        BB- /
                                                                        CARE A4
Issuer not cooperating; Based on best available information
S C Jain Construction Company         LT Bk Fac          22.8           CARE B+
“Issuer not cooperating; Revised from CARE BB- on the basis of best available information”
S C Jain Construction Company         LT /ST Bk Fac      39             CARE
                                                                        B+/
                                                                        CARE A4
“Issuer not cooperating; Revised from CARE BB-;/CARE A4 on the basis of best available
information”
S.Pal Enterprises Pvt Ltd             Long- Term Bk Fac  76.9           CARE B  -
Issuer not cooperating; Revised from CARE B+; Issuer not cooperating on the basis of best
available information
Sand Dune Constructions Pvt Ltd       LT Bk Fac          250            CARE D
“Issuer not cooperating; Revised from CARE BB-; On the basis of best available information
Shri Jineshwar Buildcom Llp           LT Bk Fac          -              -       Withdrawn
Sorento Granito Services Pvt Ltd      LT/ ST Bk Fac      -              -       Withdrawn
Sarjay Chemicals Pvt Ltd              LT Bk Fac          75             CARE D  -
Issuer not cooperating; Based on best available information
Shreenathji Cotton Industries         LT Bk Fac          80             CARE    Reaffirmed
                                                                        BB-
Shri Karpadha Agro Foods              LT Bk Fac          94             CARE D  -
Issuer not co-operating Based on best available information
Shri Mangal Motors                    LT Bk Fac          67.2           CARE B+
Revised from CARE BB Issuer not cooperating based on best available information
Sigma Projects Inc                    LT Bk Fac          22             CARE B+ -
Issuer not co-operating Revised from CARE BB- Issuer not co-operating Based on best available
information
Silver Estate Resort                  LT Bk Fac          47.7           CARE B+ Reaffirmed
Smsea Marines Pvt Ltd                 Long -term Bk Fac  46.4           CARE    -
                                                                        BB-
Issuer not co-operating based on best available information
Somnath Agro Industries               LT Bk Fac#         50             CARE B+
Revised from CARE B; #Rating reclassified from Long-term/Short-term Bank Facilities to Long-term
Bank Facilities as the Export packing credit sublimit has been discontinued by Somnath Agro
Industries (SAI)

Sonigara Gold Llp                     LT Bk Fac          60             CARE BB Reaffirmed
Talbros Engineering Ltd               LT Bk Fac          117.2          CARE A-
Reaffirmed and Outlook revised from to Negative; (reduced from 19.61 Crore)
Talbros Engineering Ltd               Long/ST Bk Fac     578            CARE A-
                                                                        / CARE
                                                                        A2+
Reaffirmed and Outlook revised from to Negative
Talwalkars Better Value Fitness Ltd   LT NCD             300            CARE D
Revised from CARE B (Credit watch with negative implications)
Talwalkars Better Value Fitness Ltd   LT NCD             500            CARE D
Revised from CARE B (Credit watch with negative implications)
Talwalkars Better Value Fitness Ltd   LT NCD             250            CARE D
Revised from CARE B (Credit watch with negative implications)
Talwalkars Better Value Fitness Ltd   Proposed NCD Issue 250            CARE D
Revised from CARE B (Credit watch with negative implications)
Talwalkars Better Value Fitness Ltd   LT Bk Fac (TL)     842            CARE D
Revised from CARE B (Credit watch with negative implications)
Talwalkars Healthclubs Ltd            NCDs               250            CARE D
Revised from CARE B(Credit watch with negative implications)
Talwalkars Healthclubs Ltd            NCDs               250            CARE D
Revised from CARE B(Credit watch with negative implications)
Talwalkars Healthclubs Ltd            NCDs               250            CARE D
Revised from CARE B(Credit watch with negative implications)
Talwalkars Healthclubs Ltd            NCDs               250            CARE D
Revised from CARE B(Credit watch with negative implications)
Talwalkars Healthclubs Ltd            Proposed NCD       250            CARE D
Revised from CARE B(Credit watch with negative implications)
Talwalkars Healthclubs Ltd            LT Bk Fac-TL       2807.4         CARE D
Revised from CARE B(Credit watch with negative implications)
Talwalkars Healthclubs Ltd            NCDs               633.4          CARE D
Revised from CARE B(Credit watch with negative implications)
Tdi International India Pvt Ltd       LT Bk Fac          1350           CARE B+ Assigned
Techno Drugs And Intermediates Pvt LtdLT Bk Fac          69.8           CARE B
Revised from CARE B+; [Reduced from Rs.8.00 crore]
The Rajaratna Mills Pvt Ltd           LT Bk Fac          337.2          CARE    -
                                                                        BB-
Issuer not co-operating Based on best available information
Tirupati International                LT Bk Fac          49.9           CARE BB
Revised from CARE BB+; Issuer not cooperating; Based on best available information
Topdom Marketing Pvt Ltd              LT Bk Fac          170            CARE    Reaffirmed
                                                                        BB+
Yashoda Cold Storage Pvt Ltd          LT Bk Fac          58.7           CARE B  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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