February 28, 2018 / 9:38 AM / 3 months ago

CARE ratings for Indian debt instruments-Feb 28

    Feb 28 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 27, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Asomi Finance Pvt Ltd                 ST Bk Fac          CARE A4        30      -
Issuer not Cooperating
Conor Granito Pvt Ltd                 ST Bk Fac          CARE A4        40      Assigned
Dharampal Premchand Ltd               ST Bk Fac*         -              -       Withdrawn
*The ratings have been withdrawn on the request for withdrawal of rating by the company as these
facilities have been extinguished
Esscon Infratech Pvt Ltd              ST Bk Fac          CARE A3        170     Reaffirmed
Garg Lumbers Pvt Ltd                  ST Bk Fac          CARE A4+       200     -
Issuer not Cooperating
Glen Appliances Pvt Ltd               ST Bk Fac          CARE A2+       91      Reaffirmed
Hasmukh Parekh Jewellers              ST Bk Fac          -              -       Withdrawn
Innovative Textiles Ltd               ST Bk Fac          CARE A3        330     Reaffirmed
Insolation Energy Pvt Ltd             ST Bk Facilit      CARE A4        5       Assigned
Integrated Equipment (India) Pvt Ltd  ST Bk Fac          -              -       Withdrawn
Indermani Mineral (India) Pvt Ltd     ST Bk Fac          -              -       Withdrawn
Johns Automotives Pvt Ltd             ST Bk Fac          CARE A4        76.6    Assigned
Mahamaya Steel Industries Ltd         ST Bk Fac          CARE A4+       360     Assigned
Maini Constructions Equipments Pvt. LtST Bk Fac          CARE D         19      -
Issuer not Cooperating
Mediaguru Solutions Pvt Ltd           ST Bk Fac          CARE A4        20      Assigned
Nangalwala Chemical Industries        ST Bk Fac          CARE A4        30      Reaffirmed
Neuland Laboratories Ltd              ST Bk Fac          CARE A3+       1189    Reaffirmed
Niros Ispat Pvt Ltd                   ST Bk Fac          CARE A4        110     -
Issuer not Cooperating
Polo Industries Pvt Ltd               ST Bk Fac          CARE A4        3       Reaffirmed
Sanjay Grain Products Pvt. Ltd.       ST Bk Fac          CARE A4        60      -
Issuer not Cooperating
Satchidnanda Agro Tech Pvt Ltd        ST Bk Fac          CARE A4        4.9     Revised from
                                                                                CARE A4
Issuer not Cooperating
Shanti Parboiling Industries          ST Bk Fac          CARE A4        19.2    Reaffirmed
Shell-N-Tube Pvt Ltd                  ST Bk Fac          CARE A4        50      Reaffirmed
Shree Hari Chemicals Export Ltd       ST Bk Fac          CARE A4+       73.5    Reaffirmed
Shree Parashnath Re-Roolling Mills LtdST Bk Fac          CARE A4        539.2   Reaffirmed
Shri Girija Smelters Ltd              ST Bk Fac          CARE A4        230     -
Issuer not Cooperating
Siddhartha Engineering Ltd            ST Bk Fac          CARE A3        150     -
Issuer not Cooperating
Siepmanns Card Systems Pvt Ltd        ST Bk Fac          CARE A3        100     Reaffirmed
Sundaram Auto Components Ltd          ST Bk Fac          CARE A1+       700     Reaffirmed
Sunil Hitech Engineers Ltd            ST Bk Fac          CARE A2+       5585    Reaffirmed
Tsr Nirmaan Pvt Ltd                   ST Bk Fac          CARE A3        450     Revised from
                                                                                CARE A4+
Vishwakarma Mechanical Works          ST Bk Fac          CARE A4        40      Assigned
Vision Motors Pvt Ltd                 ST Bk Fac          CARE A4        727     Reaffirmed


LONG TERM RATINGS:
-------------------
A. Tosh & Sons (India) Ltd            LT Bk Fac          CARE BB+       180     Reaffirmed
Aglon Industries Pvt Ltd              LT Bk Fac          CARE B-        745     -
Issuer not Cooperating
Apurvakriti Infrastructure Pvt Ltd    LT Bk Fac          CARE BB        30      Assigned
Apurvakriti Infrastructure Pvt Ltd    LT / ST Bk Fac     CARE BB / A4   220     Assigned
Asomi Finance Pvt Ltd                 LT Bk Fac          CARE BB        70      -
Issuer not Cooperating
Castle Liquors Pvt Ltd                LT Bk Fac          CARE BBB-      120     Revised from
                                                                                CARE BBB
Placed on credit watch with negative implications
Cedar Inclusive Finance Trust 3       Series A PT        Provisional    -       Assigned
                                                         CARE BBB+ 
Colour Creation Pvt Ltd               LT Bk Fac          -              -       Withdrawn
Conor Granito Pvt Ltd                 LT Bk Fac          CARE BB        269.4   Assigned
Dharampal Premchand Ltd               LT Bk Fac          CARE BBB       1362.6  Reaffirmed
Dharampal Premchand Ltd               LT / ST Bk Fac     CARE BBB / A3+ 70      Reaffirmed
Durga Automotives Pvt Ltd             LT Bk Fac          CARE B         194     Reaffirmed
Encore Theme Technologies Pvt Limit   LT Bk Fac          CARE BB+       52.5    Reaffirmed
Encore Theme Technologies Pvt Limit   LT / ST Bk Fac     CARE BB+ /A4+  95.5    Revised from
                                                                                CARE BB+ / A4
Esscon Infratech Pvt Ltd              LT Bk Fac          CARE BBB-      35      Revised from
                                                                                CARE BBB-
Fusion Microfinance Pvt Ltd           NCD                CARE PP-MLD    250     Assigned
                                                         BBB+
G. R Constructions                    LT Bk Fac          CARE BB-       875     Revised from
                                                                                CARE B+
Garg Lumbers Pvt Ltd                  LT Bk Fac          CARE BB-       15      -
Issuer not Cooperating
Glen Appliances Pvt Ltd               LT Bk Fac          CARE A-        158     Reaffirmed
Huechem Textiles Pvt Ltd              LT Bk Fac          CARE BBB-      225     Reaffirmed
Indermani Mineral (India) Pvt Ltd     LT Bk Fac          -              -       Withdrawn
Indian Microfinance Loan Receivables  Series A PTCs      -              -       Withdrawn
Trust March 2016 B
Innovative Textiles Ltd               LT Bk Fac          CARE BBB-      1263.5  Reaffirmed
Insolation Energy Pvt Ltd             LT Bk Fac          CARE BB-       38.8    Assigned
Insolation Energy Pvt Ltd             LT/short- term Bk  CARE BB- / A4  60      Assigned
                                      Fac
Integrated Equipment (India) Pvt Ltd  LT Bk Fac          -              -       Withdrawn
J.K. Sagar Developers                 LT Bk Fac          -              -       Withdrawn
Jindal Futures Pvt Ltd                LT/ST Bk Fac       CARE BBB / A3+ 500     Assigned
Jm Financial & Investment Consultancy CP Issue (IPO      -              -       Withdrawn
Services Pvt Ltd                      Financing)
Jm Financial Capital Ltd              CP Issue (IPO      -              -       Withdrawn
                                      Financing)
Jm Financial Products Ltd             CP Issue (IPO      -              -       Withdrawn
                                      Financing)
Jm Financial Properties And Holdings LCP Issue (IPO      -              -       Withdrawn
                                      Financing)
Johns Automotives Pvt Ltd             LT Bk Fac          CARE BB-       28.4    Assigned
Kamakhya Traders                      LT Bk Fac          CARE B+        100     Assigned
Karthikeya Agro Industries            LT Bk Fac          CARE B+        78      -
Issuer not Cooperating
Mahamaya Steel Industries Ltd         LT Bk Fac          CARE BB+       440     Reaffirmed
Mahendra Brothers Exports Pvt Ltd     LT / ST Bk Fac     CARE A- / A2   10000   Reaffirmed
Maini Constructions Equipments Pvt. LtLT Bk Fac          CARE D         90      -
Issuer not Cooperating
Man Realty Ltd                        LT Bk Fac          -              -       withdrawn
Mbmg Diamonds Pvt Ltd                 LT / ST Bk Fac     CARE A- / A2   400     Reaffirmed
Mediaguru Solutions Pvt Ltd           LT Bk Fac          CARE BB-       20      Assigned
Mediaguru Solutions Pvt Ltd           LT/ST Bk Fac       CARE BB- / A4  20      Assigned
Millennium Aero Dynamics Pvt Ltd      LT Bk Fac          CARE BBB-      78.9    Reaffirmed
Nangalwala Chemical Industries        LT Bk Fac          CARE BB        54      Reaffirmed
Navsari Cotton Mills                  LT Bk Fac          CARE BB-       70      Reaffirmed
Neuland Laboratories Ltd              LT Bk Fac          CARE BBB+      3505.3  Reaffirmed
New Suresh Fashion Jewellery          LT Bk Fac          CARE B+        50      -
Issuer not Cooperating
Nilkanth Cold Storage                 LT Bk Fac          -              -       Withdrawn
Niros Ispat Pvt Ltd                   LT Bk Fac          CARE BB-       585.5   -
Issuer not Cooperating
Nishant Marketing                     LT / ST Bk Fac     CARE B+ / A4   80      Reaffirmed
Patliputra Equipments Pvt Ltd         LT Bk Fac          CARE BBB-      170     Reaffirmed
Removed from ISSUER NOT COOPERATING
Polo Industries Pvt Ltd               LT Bk Fac          CARE BB-       75      Reaffirmed
Prince Steel Industries               LT Bk Fac          CARE B+        140     Assigned
Rare Jewels                           LT Bk Fac          CARE BB-       105     Reaffirmed
S.D. Corporation Pvt Ltd              Proposed LT – NCD ^Provisional    1000    Assigned
                                                         CARE AA+
^credit enhancement in the form of an unconditional and irrevocable revolving DSRA Guarantee
provided by Shapoorji Pallonji and Company Private Limited (SPCPL, rated CARE AA+ Stable/ A1+)
Sanjay Grain Products Pvt. Ltd.       LT Bk Fac          CARE BB        325.6   -
Issuer not Cooperating
Satchidnanda Agro Tech Pvt Ltd        LT Bk Fac          CARE B+        110.2   Revised from
                                                                                CARE B
Issuer not Cooperating
Satyam Suitings Pvt Ltd               LT Bk Fac          -              -       Withdrawn
Savair Energy Ltd                     Bk Fac-FB – LT- CC CARE D         210     Revised from
                                                                                CARE BB
Issuer not Cooperating
Savair Energy Ltd                     Bk                 CARE D / D     470     Revised from
                                      Fac-Non-fundbased                         CARE BB / A4
                                      – LT/ ST- BG/LC
Issuer not Cooperating
Savitridevi Industries Ltd            LT Bk Fac          CARE B         95.3    Reaffirmed
Shanti Parboiling Industries          LT Bk Fac          CARE B+        70.8    Reaffirmed
Shell-N-Tube Pvt Ltd                  LT / ST Bk Fac     CARE BB- / A4  30      Reaffirmed
Shivam Concrete Technology Pvt Ltd    LT Bk Fac          CARE BB-       79.1    Assigned
Shivam Concrete Technology Pvt Ltd    LT / ST Bk Fac     CARE BB- / A4  69.5    Assigned
Shree Balaji Coal Traders Ltd         LT Bk Fac          CARE BB+       300     Reaffirmed
Revised from Stable to Positive
Shree Hari Chemicals Export Ltd       LT Bk Fac          CARE BB-       20      Revised from
                                                                                CARE BB
Shree Parashnath Re-Roolling Mills LtdLT Bk Fac          CARE B+        1669.5  Revised from
                                                                                CARE B
Shri Girija Smelters Ltd              LT Bk Fac          CARE B+        40      -
Issuer not Cooperating
Shri Ram Corporation                  LT Bk Fac          -              -       Withdrawn
Siddharth Agro Industries             LT Bk Fac          CARE B+        54.5    -
Issuer not Cooperating
Siddhartha Engineering Ltd            LT Bk Fac          CARE BBB-      370     -
Issuer not Cooperating
Siddhartha Engineering Ltd            LT / ST Bk Fac     CARE BBB-/A3   1180    -
Issuer not Cooperating
Siepmanns Card Systems Pvt Ltd        LT Bk Fac          CARE BBB-      54      Reaffirmed
Siepmanns Card Systems Pvt Ltd        LT / ST Bk Fac     CARE BBB- / A3 189.8   Reaffirmed
Simoco Telecommunications (South Asia)LT Bk Fac          CARE D         180     Revised from
Ltd                                                                             CARE D
Issuer not Cooperating
Sri Sendrayaperumal Transports        LT Bk Fac          CARE B+        45      -
Issuer not Cooperating
Sundaram Auto Components Ltd          LT Bk Fac          CARE A+        1000    Reaffirmed
Sundaram Auto Components Ltd          LT / ST Bk Fac     CARE A+ / A1+  400     Assigned
Sunil Hitech Engineers Ltd            LT Bk Fac          CARE A-        5095    Reaffirmed
Sunil Hitech Engineers Ltd            Long/ ST Bk Fac    CARE A- / A2+  13750   Reaffirmed
Tipsons Financial Services Pvt Ltd    LT Bk Fac          CARE AA        1500    Assigned
Tirupati Sugars Ltd                   LT Bk Fac          CARE BBB-      2336.6  Reaffirmed
Tsr Nirmaan Pvt Ltd                   LT Bk Fac          CARE BBB-      130     Revised from
                                                                                CARE BB+
Uni Design Elite Jewellery Pvt Ltd    LT / ST Bk Fac     CARE A- / A2   500     Reaffirmed
Uni Design Jewellery (India) Pvt Ltd  LT / ST Bk Fac     CARE A- / A2   400     Reaffirmed
Uni Design Jewellery Pvt Ltd          LT / ST Bk Fac     CARE A- / A2   1000    Reaffirmed
Vaishnavi Food Products               LT Bk Fac          CARE B         68.1    Assigned
Veria Lifestyle Inc                   LT Bk Fac          CARE BBB-      -       Reaffirmed
Vippy Industries Ltd                  LT / ST Bk Fac     CARE A- /A2+   1000    Reaffirmed
Vishwakarma Mechanical Works          LT Bk Fac          CARE BB        15      Assigned
Vision Motors Pvt Ltd                 LT Bk Fac          CARE BB        94.1    Reaffirmed
Western Mp Infrastructure & Tolls Pvt Bk Fac LT (TL)     CARE A+        7400    Reaffirmed
Ltd
--------------------------------------------------------------------------------------------
$: 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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