August 6, 2019 / 9:08 AM / 2 months ago

CARE ratings for Indian debt instruments-Aug 6

    Aug 6 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 5, 2019.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Axis My India Ltd                     ST Bk Fac          -              27.5    Withdrawn
Bangera Seaworld Pvt Ltd              ST Bk Fac          CARE A4+       100     Revised from
                                                                                CARE A4
Bhatia Corporation Pvt Ltd            ST Bk Fac          CARE A4+       702.5   Reaffirmed
Non Cooperation revoked

Cera Sanitaryware Ltd                 ST Bk Fac          CARE A1+       100     Reaffirmed
Chomu Chandwaji Tollways Pvt Ltd      ST Bk Fac          CARE A4        20      -
Issuer not cooperating; Based on best available information
Dfm Foods Ltd                         ST Bk Fac          CARE A1        163.3   Reaffirmed
Kali Pigments Pvt Ltd                 ST Bk Fac          CARE A4        35      -
Issuer Not Cooperating:Based on best available information
Livia Polymer Bottles Pvt Ltd         ST Bk Fac          CARE A2        210     Reaffirmed
(reduced from 21.15 Crore)
M. Suryanarayana Reddy                ST Bk Fac          CARE A4+       165     Revised from
                                                                                CARE A4
(enhanced from 5.50 Crore)
Raghav Cotspin Pvt Ltd                ST Bk Fac          -              -       Withdrawn
Withdrawn
Plazma Technologies Pvt Ltd           ST Bk Fac          CARE D         58      Revised from
                                                                                CARE A4
Issuer not cooperating; on the basis of best available information
M.K. Timber & Company                 ST Bk Fac          CARE A4        150     Reaffirmed
Mamta Seeds                           ST Bk Fac          CARE A4        20      -
Issuer Not Cooperating:Based on best available information
Mutyala Agro Tech Llp                 ST Bk Fac          CARE A4        18      -
Issuer Not Cooperating:Based on best available information
Orion Security Solutions Pvt Ltd      ST Bk Fac          CARE A3+       750     Assigned
Pakiza Retail Pvt Ltd                 ST Bk Fac          CARE A4        2       Reaffirmed
Patnaik Minerals Pvt Ltd              ST Bk Fac          CARE A2        3500    Assigned
Rathod Industries                     ST Bk Fac          CARE A4        1.5     Reaffirmed
Jm Ferro Alloys Pvt Ltd               ST Bk Fac          CARE D         120     -
Issuer not cooperating; Based on best available information
Rockdrill Projects Pvt Ltd            ST Bk Fac          CARE A4        320     -
Issuer not cooperating; Based on best available information
S N Polymers Pvt Ltd                  ST Bk Fac          CARE A4        30      Assigned
Santosh Beej Bhandar                  ST Bk Fac          CARE A4        5       -
Issuer Not Cooperating Based on best available information
Shreem Electric Ltd                   ST Bk Fac          CARE A4        6850    Reaffirmed
K. Patel Metal Industries Pvt Ltd     ST Bk Fac          -              -       Withdrawn
Sree Lakshmi Engineering Works        ST Bk Fac          CARE A4        10      -
Issuer not cooperating*; Based on best available information
Talin International Pvt Ltd           ST BkFac           CARE A4        5       -
Issuer not cooperating;Based on best available information
Vidyasagar Reddy Velma                ST Bk Fac          CARE A4        150     Assigned

LONG TERM RATINGS:
-------------------
Advanced Sys-Tek Pvt Ltd              Long/ST Bk Fac     CARE BBB-      500     Reaffirmed
                                                         /CARE A3
(enhanced from Rs. 30 crore Crore)
Agribiotech Industries Ltd            LT Bk Fac          CARE B+        90      Revised from
                                                                                CARE BB+
Asence Pharma Pvt Ltd                 LT Bk Fac          -              -       Withdrawn
Asence Pharma Pvt Ltd                 LT Bk Fac/ST Bk Fac-              -       Withdrawn
Axis My India Ltd                     LT Bk Fac          -              97.5    Withdrawn
Bangera Seaworld Pvt Ltd              LT Bk Fac          CARE BB+       7.5     Revised from
                                                                                CARE BB
(Reduced from 1.72 Crore)
Bhatia Corporation Pvt Ltd            LT Bk Fac          CARE BB+       259     Reaffirmed
Non Cooperation revoked
Cera Sanitaryware Ltd                 LT Bk Fac          CARE AA        500     Reaffirmed
Cera Sanitaryware Ltd                 LT/ ST BkFac       CARE AA/A1+    220     Reaffirmed
Chemietron Clean Tech Pvt Ltd         LT Bk Fac          CARE D         54.6    -
Issuer not cooperating; Based on best available information
Chemietron Clean Tech Pvt Ltd         LT Bk Fac/ ST Bk   CARE D /D      10      -
                                      Fac
Issuer not cooperating; Based on best available information
Chetan Alloys Pvt Ltd                 LT BkFac           CARE B-        100     Revised from
                                                                                CARE B+
Issuer not cooperating; Based on best available information
Chomu Chandwaji Tollways Pvt Ltd      LT Bk Fac          CARE B+        255     Revised from
                                                                                CARE BB
Issuer not cooperating; Based on best available information
Creamcrust Food Products Company      LT BkFac           CARE B         50      -
Issuer not cooperating; Based on best available information
Creamcrust Food Products Company      LT/STBk Fac        CARE B/A4      10      -
Issuer not cooperating; Based on best available information
Dfm Foods Ltd                         LT Bk Fac – TL     CARE A         815.6   Reaffirmed
Dfm Foods Ltd                         LT Bk Fac – CC     CARE A         145     Reaffirmed
Dina Iron & Steel Ltd                 LT BkFac           CARE BB+       290.8   Reaffirmed
Dropadi Industries                    LT BkFac           CARE B         54      Revised from
                                                                                CARE BB-
Issuer not co operating; Based on best available information
Infissi Fenestration Llp              LT Bk Fac          CARE B         87.5    Revised from
                                                                                CARE B-
Issuer not co operating; Based on best available information
Ishwar Ginning Pvt Ltd                LT BkFac           CARE D         120     -
Issuer not co operating; Based on best available information
Ishwar Oil Industries                 LT BkFac           CARE D         55.3    -
Issuer not co operating; Based on best available information
Janani Export                         LT BkFac           CARE BB        150     Revised from
                                                                                CARE BB+
Issuer not co operating; Based on best available information
Jecrc University                      LT Bk Fac          CARE D         1052.3  “Issuer not
                                                                                cooperating
Issuer not co operating; Based on best available information
Jeevankiran                           LT Bk Fac          CARE BB        250     Assigned
                                      (Proposed)
Jm Ferro Alloys Pvt Ltd               LT Bk Fac          CARE D         75      -
Issuer not cooperating; Based on best available information
K. Patel Metal Industries Pvt Ltd     LT Bk Fac          -              -       Withdrawn
Kali Pigments Pvt Ltd                 LT Bk Fac          CARE B+        27      -
Issuer Not Cooperating:Based on best available information
Karnataka Urban Water Supply & DrainagLT Bk Fac          CARE AA – (CE) -       Assigned
Board
^The above facilities are backed by unconditional and irrevocable guarantee from Government of
Karnataka.
Krishi Infratech                      LT Bk Fac          CARE BB+       790     Removed from
                                                                                Issuer Not
                                                                                Cooperating and
                                                                                revised from
                                                                                CARE BB
(enhanced from 34.50 Crore)
Lavasa Corporation Ltd                LT Bk Fac – TL     CARE D         3963.3  -
Issuer Not Cooperating:Based on best available information
Lavasa Corporation Ltd                LT Bk Fac – TL     CARE D         5478.1  -
Issuer Not Cooperating:Based on best available information
Lavasa Corporation Ltd                LT instruments –   CARE D         963.9   -
                                      NCD I
Issuer Not Cooperating:Based on best available information
Lavasa Corporation Ltd                LT instruments –   CARE D         2500    -
                                      NCD IV
Issuer Not Cooperating:Based on best available information
Lavasa Corporation Ltd                LT instruments –   CARE D         1144.5  -
                                      NCD V
Issuer Not Cooperating:Based on best available information
Lavasa Corporation Ltd                CCPS               CARE D         5250    Revised from
                                                                                CARE C(SO)
Issuer Not Cooperating:Based on best available information
Livia Polymer Bottles Pvt Ltd         LT Bk Fac          CARE BBB+      227.1   Revised from
                                                                                CARE A-
(enhanced from 19.62 Crore)
Livia Polymer Bottles Pvt Ltd         LT/ST Bk Fac       CARE BBB+/A2   175     Revised from
                                                                                CARE A-/ CARE
                                                                                A2
M. Suryanarayana Reddy                LT Bk Fac          CARE BB+       80      Revised from
                                                                                CARE BB
(enhanced from 4.00 Crore)
M.K. Timber & Company                 LT Bk Fac          CARE B+        37.5    Reaffirmed
Mamta Seeds                           LT Bk Fac          CARE B         40      -
Issuer Not Cooperating:Based on best available information
Manjubhargava Cot Fibres Pvt Ltd      LT BkFac           CARE B+        127.5   Reaffirmed
Muniraj Enterprise                    LT Bk Fac          CARE B+        67.5    -
Issuer Not Cooperating:Based on best available information
Mutyala Agro Tech Llp                 LT Bk Fac          CARE B         38.3    Revised from
                                                                                CARE B+
Issuer Not Cooperating:Based on best available information
Northern Arc 2019 Cv Beza             Series A2 PTC      CARE AA-(SO)   102.2   Assigned
Northern Arc 2019 Cv Beza             Series A1 PTC      CARE AA+(SO)   287.9   Assigned
Omega Enterprises                     LT Bk Fac          CARE BB        69.6    Reaffirmed
Orion Security Solutions Pvt Ltd      LT Bk Fac          CARE BBB       500     Assigned
P Padma Rural Godowns                 LT Bk Fac          CARE D         97.9    Revised from
                                                                                CARE B+
Pakiza Retail Pvt Ltd                 LT Bk Fac          CARE BB        137.2   Reaffirmed
(reduced from 14.75 Crore)
Patco Polypack Pvt Ltd                LT Bk Fac          CARE B         86      Revised from
                                                                                CARE B+
Issuer not cooperating; on the basis of best available information
Plazma Technologies Pvt Ltd           LT Bk Fac          CARE D         26.3    Revised from
                                                                                CARE B+
Issuer not cooperating; on the basis of best available information
Prateek Industries                    LT BkFac           CARE B+        97      Revised from
                                                                                CARE B
Issuer not cooperating; on the basis of best available information
Psv Precast Pvt Ltd                   LT Bk Fac          CARE B         100     Revised from
                                                                                CARE B+
Issuer not cooperating; on the basis of best available information
R M Enterprise                        LT Bk Fac          CARE D         75      -
Issuer not cooperating; on the basis of best available information
Raghav Cotspin Pvt Ltd                LT Bk Fac          -              -       Withdrawn
Withdrawn
Raghav Cotspin Pvt Ltd                Long/ ST Bk Fac    -              -       Withdrawn
Withdrawn
Rathod Industries                     LT Bk Fac          CARE BB-       50      Reaffirmed
(Reduced from 5.26 Crore)
Rockdrill Projects Pvt Ltd            LT Bk Fac          CARE B+        200     -
Issuer not cooperating; Based on best available information
S G Control And Switchgear Pvt Ltd    LT Bk Fac          CARE B+        63.1    Assigned
S G Control And Switchgear Pvt Ltd    LT / ST BkFac      CARE B+/A4     1.9     Assigned
S N Polymers Pvt Ltd                  LT Bk Fac          CARE BB        60      Assigned
San Automotive Industries Pvt Ltd     LT Bk Fac          CARE BB-       126     Reaffirmed
Santosh Beej Bhandar                  LT Bk Fac          CARE BB-       145     Revised from
                                                                                CARE BB
Issuer Not Cooperating Based on best available information
Shiv Marine Industries Pvt Ltd        LT/STBk Fac        CARE B+/A4     70      -
Issuer not cooperating; Based on best available information
Shree Krishna Cotton Industries       LT Bk Fac          CARE B+        100     Reaffirmed
Shreem Electric Ltd                   LT Bk Fac(Working  -              -       Withdrawn
                                      Capital TL)*
*Withdrawn on the basis of request received from SEL and No- dues certificate (NDC) from RBL.
Shreem Electric Ltd                   LT Bk Fac          CARE BB        2950    Reaffirmed
Sree Lakshmi Engineering Works        LT Bk Fac          CARE B-        90      Revised from
                                                                                CARE B+
Issuer not cooperating*; Based on best available information
Subico Food Products                  LT Bk Fac          CARE B+        74.7    -
Issuer Not Cooperating; Based on best available information
Subico Food Products                  LT/ST Bk Fac       CARE B+/A4     25      -
Issuer Not Cooperating; Based on best available information
Talin International Pvt Ltd           LT/ STBk Fac       CARE B+/A4     62.5    -
Issuer not cooperating;Based on best available information
Tide Water Oil Co. (India) Ltd        LT/ST Bk Fac       CARE AA/A1+    450     Assigned
Veritas Finance Pvt Ltd               NCD (Proposed)     CARE BBB+      270     Assigned
Veritas Finance Pvt Ltd               LT Bk Fac          CARE BBB+      4000    Reaffirmed
[enhanced from 250.00]
Vikram Roller Flour Mills Ltd         LT/ST Bk Fac       CARE B /A4     475     Revised from
                                                                                CARE B+
Issuer not cooperating; Long term rating Stable and ST rating reaffirmed on the basis of best
available information”
Vnv Steel                             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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