January 8, 2019 / 6:15 AM / 15 days ago

CARE ratings for Indian debt instruments-Jan 8

    Jan 8 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 7, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agrimony Tradex Vyaappar Pvt Ltd      ST Bk Fac          CARE A3        150     Assigned
(enhanced from 5.00 Crore)
Ajanta Footcare (India) Pvt. Ltd.     ST Bk Fac          -              -       Withdrawn
Ajanta Footcare (India) Pvt. Ltd.     ST Bk Fac          -              -       Withdrawn
Ajanta Shoes (India) Pvt. Ltd.        ST Bk Fac          CARE A1        95      Reaffirmed
[Erstwhile Banik Rubber Industries    (Non-Fund Based)
(India) Pvt. Ltd.]
(enhanced from 9.00 Crore)
Ajanta Shoes (India) Pvt. Ltd.        ST Instrument - CP CARE A1        100     Reaffirmed
[Erstwhile Banik Rubber Industries    #
(India) Pvt. Ltd.]
#by carving out of CC Limit of SBI of Rs.21 crore/Drawing Power whichever is lower
Akash Ganga Rice Mills Pvt. Ltd       ST Bk Fac          CARE A4        13      Reaffirmed
Anamika Conductors Pvt Ltd            ST Bk Fac          CARE D         440
Issuer not cooperating; Revised from “CARE A4+; Issuer Not Cooperating on the basis of best
available information
Angel Fibers Ltd                      ST Bk Fac          CARE A4+       35
Revised from CARE A4
Art Tile Llp                          ST Bk Fac          CARE A4        20      Assigned
Aspee Sons                            ST Fac             CARE A3        0.5     Reaffirmed
Aspee Springs Ltd                     ST Fac             CARE A3        10      Reaffirmed
Astron Packaging Ltd                  ST Bk Fac          CARE A2        170     Reaffirmed
Baramati Speciality Steels Ltd        ST Bk Fac          -              -       Withdrawn
Bansal Lumbers Pvt Ltd                ST Bk Fac          CARE A4        170     Assigned
Bansal Yarns Pvt Ltd                  ST Bk Fac          CARE A4        60      Reaffirmed
(reduced from Rs.7.00 Crore)
Biogenetic Drugs Pvt Ltd              ST Bk Fac          CARE A4+       60      Assigned
Captain Polyplast Ltd                 ST Bk Fac          CARE A3        465     Reaffirmed
Celebrations Apparel Ltd              ST Bk Fac          CARE A1+(SO)   10@     Reaffirmed
@backed by unconditional and irrevocable corporate guarantee provided by Raymond Ltd
Celebrations Apparel Ltd              ST Bk Fac          CARE A3        33.3    Reaffirmed
Century Extrusions Ltd                ST Bk Fac          CARE A3        156     Assigned
Chandra Electronic Appliances Pvt Ltd ST Bk Fac          CARE A4        21      Reaffirmed
Compuage Infocom Ltd                  ST Bk Fac (NFB)    CARE A2+       4800.5  Reaffirmed
Cremica Food Industries Ltd           ST Bk Fac          CARE A3+       100     Reaffirmed
Diehard Dies Pvt Ltd                  ST Bk Fac          CARE A4        8       Reaffirmed
Dish Tv India Ltd                     ST Bk Fac(LOC/BG)  CARE A1+       1900    Reaffirmed
Dish Tv India Ltd                     ST Bk Fac (TL)     CARE A1+       2500    Assigned
Ellenbarrie Industrial Gases Ltd      ST Bk Fac          CARE A4+       140     Assigned
Emmbi Industries Ltd                  ST Bk Fac          CARE A2        210     Reaffirmed
Flying Trade India Pvt Ltd            ST Bk Fac          CARE A4+       550
Revised from CARE A4
Gajlaxmi Steel Pvt Ltd                ST Bk Fac          CARE A4+       17.5
Revised from CARE A4
Ganesham Electrotech Supermarket Pvt LST Bk Fac          CARE A4        22      Assigned
Geo Fresh Organic                     ST Bk Fac          CARE A3+       41.5    Reaffirmed
Gmr Airports Ltd                      ST Bk Fac          CARE A1        2000    Reaffirmed
Gmr Warora Energy Ltd                 ST Bk Fac (BG)     CARE A4+       2300
Revised from CARE A4
Hmt Machine Tools Ltd                 ST Fac             CARE A4        729     Reaffirmed
Indicon Westfalia Ltd                 ST Bk Fac          -              -       Withdrawn
India Sign Pvt Ltd                    Short- term Bk Fac CARE A3+       95      Reaffirmed
(Enhanced from 7.00 Crore)
Ivl Dhunseri Petrochem Industries Pvt ST Bk Fac          CARE A1        10000   Reaffirmed
Ltd
Jsw Projects Ltd                      ST Bk Fac          CARE A1+       350     Reaffirmed
K A I International Pvt Ltd           ST Bk Fac          CARE A4+       462.2   Reaffirmed
K.P.R. Mill Ltd                       ST Bk Fac          CARE A1+       3728.2  Reaffirmed
(enhanced from 282.82 Crore)
Kataria Construction Pvt Ltd          ST Bk Fac          CARE A4        50      Assigned
Kedarnath Commotrade Pvt Ltd          ST Bk Fac          CARE A3        250     Reaffirmed
(enhanced from 20.00 Crore)
Kei Industries Ltd                    ST Bk FacTotal Fac CARE A1        19100   Reaffirmed
(enhanced from 890.00 Crore)
Kothari Agritech Pvt Ltd              ST Bk Fac          CARE A3+       550
Revised from CARE A3
Liberty Shoes Ltd                     ST Bk Fac          CARE A2+       415     Reaffirmed
(enhanced from Rs.37.80 Crore)
Liz Traders And Agents Pvt Ltd        CP                 CARE A1+       1500    Reaffirmed
Liz Traders And Agents Pvt Ltd        CP                 CARE A1+       1500    Reaffirmed
Mccmahadeo Constructions Pvt Ltd      ST Bk Fac          -              -       Withdrawn
M. S. Ramaiah Developers And Builder  ST Bk Fac          CARE A3        180     Reaffirmed
Pvt Ltd.
M.M.Patel Public Charitable Trust     ST Bk Fac          CARE A4        140     Reaffirmed
(enhanced from 7.00 Crore)
Marc Enterprises Pvt Ltd              ST Bk Fac          CARE A4+       50      Reaffirmed
(enhanced from 2.00 Crore)
Mayur Uniquoters Ltd                  ST Bk Fac          CARE A1+       200     Reaffirmed
(reduced from Rs.35 Crore)
Mb Power (Madhya Pradesh) Ltd         ST Bk Fac -        CARE A2        490
                                      Non-Fund Based –
                                      LOC
Revised from CARE A3+
Medeor Hospitals Ltd                  ST Bk Fac          CARE A4+       580
Revised from CARE A3
Merge Stones                          ST Bk Fac          CARE A4        40      Assigned
Mmtc Ltd                              ST Bk Fac          CARE A1        27000   Reaffirmed
Modepro India Pvt Ltd                 ST Bk Facility     CARE A3        105     Reaffirmed
Mother Dairy Fruit & Vegetable Pvt LtdBk Fac – FB – ST – CARE A1+       1050    Reaffirmed
                                      Pre/ Post shipment
                                      credit
(enhanced from 90.00 Crore)
Mother Dairy Fruit & Vegetable Pvt LtdBk Fac – Non-FB –  CARE A1+       800     Reaffirmed
                                      ST Fac
(enhanced from 20.00 Crore)
Mother Dairy Fruit & Vegetable Pvt LtdCP issue           CARE A1+       6000*   Reaffirmed
*carved out of the sanctioned working capital limits of the company.
N N Ispat Pvt Ltd                     ST Bk Fac          CARE A3        130     Reaffirmed
Nacl Industries Ltd                   ST Bk Fac          CARE A2        1130    Reaffirmed
Narayani Ispat Ltd                    ST Bk Fac          CARE A3        445     Reaffirmed
(enhanced from 34.00 Crore)
Narayani Steels Ltd                   ST Bk Fac          CARE A3        1250    Reaffirmed
(enhanced from 100.00 Crore)
New Saraswati House (India) Pvt Ltd   ST Bk Fac          CARE A1+ (SO)  50      Reaffirmed
(decreased from 6 Crore)
Nexo Industries Pvt Ltd               ST Bk Fac          CARE A3+       218.1
Revised from CARE A2
North Street Cooling Towers Pvt Ltd   ST Bk Fac          CARE A4+       40
Revised from CARE A4
Polyplex Corporation Ltd              ST Bk Fac          CARE A1+       480     Reaffirmed
(enhanced from 42.00 Crore)
R & D Multiples (Metal Cast) Pvt Ltd  ST Bk Fac          CARE A4+       175
Revised from CARE A4
Ram Ratna Electricals Ltd             ST Bk Fac          CARE A3        10
Revised from CARE A4+
Rama Phosphates Ltd                   ST Bk Fac (LOC /   CARE A3        220     Reaffirmed
                                      BGs)
Ravi Technoforge Pvt Ltd              ST Bk Fac          CARE A4+       35.8    Reaffirmed
Realcade Lifescience Pvt Ltd          ST Bk Fac          CARE A4        6
Reaffirmed (reduced from 1.45 Crore)
Remi Elektrotechnik Ltd               ST Bk Fac - Non    CARE A3+       29.4    Reaffirmed
                                      Fund Based
Remi Process Plant And Machinery Ltd  ST Bk Fac (Non-FB )CARE A3        72.5    Reaffirmed
(reduced from 8.00 Crore)
Remi Sales And Engineering Ltd        ST Bk Fac (Non-FB) CARE A3        16.5    Reaffirmed
Rishi Fibc Solutions Pvt Ltd          ST Bk Fac          CARE A1        150     Reaffirmed
Rl Steels And Energy Ltd              ST                 CARE A4        721.4   Assigned
Rupsha Fish Pvt Ltd                   ST Bk Fac          CARE A4        50
Issuer Not Cooperating; based on best available information.
S K Samanta & Company Pvt Ltd         ST Bk Fac          CARE A2+       1400    Reaffirmed
Sharp Ferro Alloys Ltd                ST Bk Fac          CARE A3        402.5   Reaffirmed
Shingora Textiles Ltd                 ST Bk Fac          CARE A3+       42.9    Reaffirmed
Simero International Llp              ST Bk Fac          CARE A3        10      Reaffirmed
Sneh Sadan Traders And Agents Ltd     CP                 CARE A1+       2750    Reaffirmed
Sneh Sadan Traders And Agents Ltd     CP                 CARE A1+       2750    Reaffirmed
Soccer International Pvt Ltd          ST Bk Fac          CARE A3+       190     Reaffirmed
Sona Wires Pvt Ltd                    ST Bk Facility     CARE D         2.7
Revised from CARE A4
Sprint Exports Pvt Ltd                ST Bk Fac          CARE A3+       68.1
Revised from CARE A3 ; (reduced from 13.15 Crore)
Sri Chitra Agri Exports               ST Bk Fac          CARE A4        145
Reaffirmed and Removed from CARE A4; Issuer Not Cooperating;
Super Iron Foundry Pvt Ltd            ST Bk Fac          CARE A4+       170
ISSUER NOT COOPERATING; Based on best available information
Swastik Electrotech Pvt Ltd           ST Bk Fac          CARE A4+       169     Reaffirmed
(Enhanced from 12.00 Crore)
Tarawade Logistics Pvt Ltd            ST Bk Fac          CARE A4        50
Revised from CARE A4; Issuer Not Cooperating
Tata Chemicals Ltd                    ST Bk Fac –        CARE A1+       24480** Reaffirmed
                                      Non-FBL
**includes unallocated limits of Rs.1,173 crore
The Kalupur Commercial Co-Operative   ST Bk Fac          CARE A2+       2500    Assigned
Bank Ltd.
Thomson Press India Ltd               ST Bk Fac          CARE A2+       250     Reaffirmed
Thriveni Earthmovers Pvt Ltd          ST Bk Fac          CARE A2        6760    Reaffirmed
(enhanced from 593.00 Crore)
Uttara Impex Pvt Ltd                  ST Bk Fac          -              -       Withdrawal
Uni-Com India Pvt Ltd                 ST Bk Fac          CARE A2+       200     Reaffirmed
Upper India Steel Manufacturing And   ST Bk Fac          CARE A4        199     Reaffirmed
Engineering Co. Ltd
Usha Yarns Ltd                        ST Bk Fac          CARE A3        5       Reaffirmed
Uttara Impex Pvt Ltd                  ST Bk Fac ( Fund   CARE A2+ (SO)  50
                                      Based)
Revised from CARE A2 (SO)
Vibrant Global Trading Pvt Ltd        ST Bk Fac (non-FBL)CARE A4+       103
Revised from CARE A3 ; (reduced from 17.30 Crore)
Vikas Publishing House Pvt Ltd        ST Bk Fac          CARE A1+ (SO)* 120     Reaffirmed
* The ratings are based on the credit enhancement in the form of an unconditional and
irrevocable Corporate Guarantee from S. Chand And Company Ltd. (SCCL -
Western Carriers (India) Ltd          ST Bk Fac          CARE A3+       50      Reaffirmed
Wockhardt Ltd                         ST Bk Fac          CARE A3        5338    Reaffirmed
                                      (Non-Fund Based)

MEDIUM TERM RATINGS:
-------------------
Compuage Infocom Ltd                  *Medium Term Fixed -              -       Withdrawn
                                      Deposits (Proposed)
*The rating on fixed deposits have been withdrawn as the facility has been fully repaid
Omaxe Ltd                             Medium-term        CARE BBB (FD)     2000
                                      instruments Fixed  Negative 
                                      Deposit
Revised from CARE BBB (FD); Stable
LONG TERM RATINGS:
-------------------
Age Old Spirits                       LT Bk Fac          CARE BB-       90      Reaffirmed
Agrimony Tradex Vyaappar Pvt Ltd      LT Bk Fac          CARE BBB-      100     Assigned
Ajanta Footcare (India) Pvt. Ltd.     LT Bk Fac          -              -       Withdrawn
Ajanta Footcare (India) Pvt. Ltd.     LT/ST Bk Fac       -              -       Withdrawn
Ajanta Footcare (India) Pvt. Ltd.     LT Bk Fac          -              -       Withdrawn
Ajanta Footcare (India) Pvt. Ltd.     LT/ST Bk Fac       -              -       Withdrawn
Ajanta Shoes (India) Pvt. Ltd.        LT Bk Fac          CARE A         210     Reaffirmed
[Erstwhile Banik Rubber Industries    (FundBased)
(India) Pvt. Ltd.]
Ajanta Shoes (India) Pvt. Ltd.        LT Bk Fac          CARE A         50      Reaffirmed
[Erstwhile Banik Rubber Industries    (Non-Fund Based)
(India) Pvt. Ltd.]
Ajanta Shoes (India) Pvt. Ltd.        Long/ ST Bk Fac    CARE A/A1      300     Assigned
[Erstwhile Banik Rubber Industries    (Fund/Non-Fund
(India) Pvt. Ltd.]                    Based)
Akash Ganga Rice Mills Pvt. Ltd       LT Bk Fac          CARE BB-       62      Reaffirmed
(reduced from 6.21 Crore)
Akshay Food Impex Pvt Ltd             LT Bk Fac          CARE BB        270     Assigned
Akshay Food Impex Pvt Ltd             Long/ST Bk Fac     CARE BB/A4     200     Assigned
Alcove Developers Llp                 LT Bk Fac          CARE BBB-      500     Reaffirmed
Anamika Conductors Pvt Ltd            LT Bk Fac          CARE D         416.3
Issuer not cooperating; Revised from “CARE BB+; Issuer Not Cooperating on the basis of best
available information
Anamika Conductors Pvt Ltd            LT/ST Bk Fac       CARE D/D       350
Issuer not cooperating; Revised from “CARE BB+/ CARE A4+; Issuer Not Cooperating on the basis of
best available information
Angel Fibers Ltd                      LT Bk Fac          CARE BB+       721.1
Revised from CARE BB-; ; (Reduced from 74.12 Crore)
Art Tile Llp                          LT Bk Fac          CARE BB-       190     Assigned
Aspee Precision Components Pvt Ltd    LT Fac             CARE BBB-      22.5    Reaffirmed
Aspee Sons                            LT Fac             CARE BBB-      49.5    Reaffirmed
Aspee Springs Ltd                     LT Fac             CARE BBB-      95      Reaffirmed
Astron Packaging Ltd                  LT Bk Fac          CARE BBB+      376.4   Reaffirmed
(reduced from 45.01 Crore)
Avon Fitness Machines Pvt Ltd         LT Bk Fac          CARE BBB-      200     Assigned
Banco Aluminium Ltd                   LT Bk Fac          CARE A         150     Reaffirmed
Banco Aluminium Ltd                   LT/ST Bk Fac       CARE A/A1      350     Reaffirmed
(reduced from 40.00 Crore)
Bansal Lumbers Pvt Ltd                LT Bk Fac          CARE B+        30      Assigned
Bansal Yarns Pvt Ltd                  LT Bk Fac          CARE BB-       20      Reaffirmed
(reduced from Rs.3.00 Crore)
Baramati Speciality Steels Ltd        LT Bk Fac          CARE BBB+      86.3    Reaffirmed
Baramati Speciality Steels Ltd        LT/ST Bk Fac       CARE BBB+/A3+  40      Reaffirmed
Bellissimo Developers Thane Pvt Ltd   NCDs (NCD) – Plot  -              -       Withdrawn
                                      A@
@ Based on credit enhancement in the form of unconditional & irrevocable corporate guarantee
extended by Lodha Developers Private Limited
Bhagwati Lacto Vegetarian Exports Pvt LT Bk Fac          CARE BBB-      3220.1  Reaffirmed
Ltd
Bhilangana Hydro Power Ltd            LT Bk Fac          CARE A         60      Reaffirmed
Bhilangana Hydro Power Ltd            NCDs               CARE A         1488    Reaffirmed
Biogenetic Drugs Pvt Ltd              LT Bk Fac          CARE BB+       105.8   Assigned
Captain Polyplast Ltd                 LT Bk Fac          CARE BBB-      215.4   Reaffirmed
Celebrations Apparel Ltd              LT Bk Fac          CARE BBB       114.6   Reaffirmed
Century Extrusions Ltd                LT Bk Fac          CARE BBB-      612.5   Assigned
Chandra Electronic Appliances Pvt Ltd LT Bk Fac          CARE BB        118.4
Rating revised from CARE BB
Compuage Infocom Ltd                  LT Bk Fac (FB)     CARE A-        2005    Reaffirmed
Cremica Food Industries Ltd           LT Bk Fac          CARE BBB       462.5   Reaffirmed
Csj Infrastructure Pvt Ltd            LT Bk Fac          -              -       Withdrawn
Dawn Retail Pvt Ltd                   Non-Convertible    CARE A- (SO)   820.7
                                      Bonds
Revised from CARE BBB+ (SO) Outlook: Stable]; (reduced from 85.00 Crore)
Deepak Novochem Technologies Ltd      LT Bk Fac          CARE BBB       500.2   Reaffirmed
(enhanced from Rs.28.85 Crore)
Deepak Novochem Technologies Ltd      LT/ST Bk Fac       CARE BBB/A3+   500#    Reaffirmed
(enhanced from Rs.30.00 Crore); #change in nature of facilities, with short term rating of Rs
7.00 crore was reclassified to Long term /Short term consideri
Diehard Dies Pvt Ltd                  LT Bk Fac          CARE BB        120     Reaffirmed
(reduced from 13.66 Crore)
Divis Laboratories Ltd                LT Bk Fac          CARE AA+       300     Reaffirmed
(enhanced from 25.00 Crore)
Divis Laboratories Ltd                LT/ST Bk Fac       CARE AA+/A1+   3550    Reaffirmed
(enhanced from 243.00 Crore)
Ellenbarrie Industrial Gases Ltd      LT Bk Fac          CARE BB+       170     Reaffirmed
Emmbi Industries Ltd                  LT Bk Fac          CARE BBB+      998.8   Reaffirmed
Enviro Control Associates (I) Pvt Ltd LT Bk Fac          CARE A+        80      Reaffirmed
Enviro Control Associates (I) Pvt Ltd LT/ ST Bk Fac      CARE A+/A1+    1400    Reaffirmed
Exicom Tele-Systems Ltd               LT FB Fac          CARE BBB+      437.4
Revised from CARE BBB
Exicom Tele-Systems Ltd               LT/ST Bk Fac       CARE BBB+ /A2  690
Revised from CARE BBB /A3+
Gajlaxmi Steel Pvt Ltd                LT Bk Fac          CARE BB+       50      Reaffirmed
Ganesham Electrotech Supermarket Pvt LLT Bk Fac          CARE BB        174.6
Rating revised from CARE BB (Outlook: Stable)
Ganraj Ispat Pvt Ltd                  LT Bk Fac          CARE BB-       308.7   Reaffirmed
Generic Engineering Construction And  LT Bk Fac          CARE BBB       180
Projects Ltd
Revised from CARE BBB-;
Generic Engineering Construction And  LT/ST Bk Fac       CARE BBB/A3+   240
Projects Ltd
Revised from CARE BBB-/CARE A3
Geo Fresh Organic                     LT Bk Fac          CARE BBB       125     Reaffirmed
(enhanced from 2.98 Crore)
Geo Fresh Organic                     LT/ ST Bk Fac      CARE BBB/A3+   80      Reaffirmed
(enhanced from 5.75 Crore)
Gmr Airport Developers Ltd            LT Bk FacTL@       CARE AA- (SO)  404.2   Assigned
@ backed by unconditional and irrevocable corporate guarantee of GMR Airports Limited (GAL,
rated Prov CARE AA- (Under credit watch with negative implicatio
Gmr Airports Ltd                      Proposed NCD issue CARE AA-       5000
Rating placed under credit watch with negative implications
Gmr Warora Energy Ltd                 LT Bk Fac (TL)     CARE BB+       30580
Revised from CARE BB
Gmr Warora Energy Ltd                 NCDs               CARE BB+       750
Revised from CARE BB
Gmr Warora Energy Ltd                 Long/ST Bk Fac     CARE BB+/A4+   3900
                                      (CC/LC)
Revised from CARE BB/ CARE A4
Gujarat Steel & Pipes                 LT/ ST Bk Fac      CARE D/D       240
Issuer not cooperating; Revised from CARE B+ /CARE A4 based on best available information
Harsh Agro                            LT Bk Fac          CARE A- (SO)*  122.2   Reaffirmed
(reduced from 14.10 Crore); *backed by credit enhancement in the form of a structured payment
mechanism including escrow of receivables from Food Corporatio
Hindustan Aeronautics Ltd             LT/ST Bk Fac       CARE AAA/A1+   25000   Reaffirmed
Hmt Machine Tools Ltd                 LT Bk Fac          CARE C         498.2   Reaffirmed
Holistic Remedies Pvt Ltd             LT Bk Fac (TL)     -              -       Withdrawn
Holistic Remedies Pvt Ltd             LT Bk Fac (CC)     CARE B         59.2
Revised from CARE B; ISSUER NOT COOPERATING
Hotel Raj Mahal                       LT Bk Fac          CARE B+        150     Assigned
India Sign Pvt Ltd                    LT Bk Fac          CARE BBB       80      Reaffirmed
Indicon Westfalia Ltd                 LT Bk Fac          -              -       Withdrawn
Ircon International Ltd               LT/ ST Bk Fac      CARE AAA/A1+   65000   Reaffirmed
Ivl Dhunseri Petrochem Industries Pvt LT Bk Fac          CARE A         6899.1  Reaffirmed
Ltd
Ivl Dhunseri Petrochem Industries Pvt LT / ST Bk Fac     CARE A/A1      6650    Reaffirmed
Ltd
Jagat Agro                            LT Bk Fac          CARE A- (SO)*  79.3    Reaffirmed
(reduced from 9.68 Crore); *backed by credit enhancement in the form of a structured payment
mechanism including escrow of receivables from Food Corporation
Jatin Agro                            LT Bk Fac          -              -       Withdrawn
Jindal Poly Films Ltd                 LT - Bk Fac – fund CARE A+        2241.3  Re-affirmed
                                      based – TL
(enhanced from 194.65 Crore)
Jindal Poly Films Ltd                 LT/ST – Bk Fac –   CARE A+/A1+    1090    Re-affirmed
                                      fund/ non fund
                                      based - CC/BG/LC/PCFC/PSCFC
(enhanced from 99.00 Crore)
Jsw Projects Ltd                      LT Bk Fac          CARE AA-       11367.7
Revised from CARE A+ ; (reduced from 1332.40 Crore)
Jsw Steel Ltd                         Issuer Rating^     CARE AA        -       Assigned
^ The rating is subject to the company maintaining overall gearing not exceeding 2.10 times
(overall gearing projected as on March 31, 2019).
K A I International Pvt Ltd           LT Bk Fac          CARE BB+       250     Reaffirmed
K.P.R. Mill Ltd                       LT Bk Fac          CARE AA        5946.4  Reaffirmed
Kakade Laser                          LT Bk Fac          CARE BB        136.8   Assigned
Kanchanjunga Power Company Pvt Ltd    NCDs               CARE BBB+      1280
Ratings reaffirmed and credit watch removed
Kanchanjunga Power Company Pvt Ltd    LT/ ST Bk Fac (NFB)CARE BBB+/A3+  50
Ratings reaffirmed and credit watch removed
Karle Infra Pvt Ltd                   LT Bk Fac- TL      CARE BBB-      4250    Reaffirmed
Karle Infra Pvt Ltd                   LT Bk Fac- Lease   CARE BBB-(SO)  6401
                                      rental Discounting
                                      (LRD)
Revised from CARE BBB(SO);
Kataria Construction Pvt Ltd          LT / ST Bk Fac     CARE BB-/A4    25      Assigned
Kedarnath Commotrade Pvt Ltd          LT Bk Fac          CARE BBB-      190     Reaffirmed
(enhanced from 15.00 Crore)
Kei Industries Ltd                    LT Bk Fac          CARE A         7930.8  Reaffirmed
(enhanced from 513.59 Crore)
Khalghat Sendhwa Tollways Pvt Ltd     LT Bk Fac (TL)     CARE A-        4318    Reaffirmed
Khalghat Sendhwa Tollways Pvt Ltd     LT Bk Fac          CARE A-        318.3   Reaffirmed
                                      (Overdraft)
Kothari Agritech Pvt Ltd              LT Bk Fac          CARE BBB       450
Revised from CARE BBB-;
Kothari Agritech Pvt Ltd              LT Bk Fac          CARE BBB       75      Assigned
Liberty Shoes Ltd                     LT Bk Fac          CARE A-        1411.4  Reaffirmed
(reduced from Rs.144.84 Crore)
Lic Housing Finance Ltd               NCD issue          CARE AAA       1424410 Reaffirmed
Lic Housing Finance Ltd               Lower Tier II BondsCARE AAA       7500    Reaffirmed
Lic Housing Finance Ltd               Upper Tier II BondsCARE AAA       15000   Reaffirmed
Lunawat Milk And Agro Pvt Ltd         LT/ ST Bk Fac      CARE B-/A4     67.6    Reaffirmed
M. S. Ramaiah Developers And Builder  LT Bk FacLease     CARE BBB       3429.8  Reaffirmed
Pvt Ltd.                              Rental Discounting
(reduced from 347.02 Crore)
M.M.Patel Public Charitable Trust     LT Bk Fac          CARE BB        860.9
Revised from CARE BB-; (reduced from 99.92 Crore)
Maharashtra Feeds Pvt Ltd             LT Bk Fac          CARE BBB       15.3    Reaffirmed
(reduced from 3.72 Crore)
Maharashtra Feeds Pvt Ltd             LT/ ST Bk Fac      CARE BBB/A3+   500     Reaffirmed
Maharashtra State Electricity         LT Bk Fac (TL)     CARE A+ (SO)   58571.2 Reaffirmed
Distribution Company Ltd
(enhanced from Rs.3000 Crore)
Maithon Power Ltd                     LT Bk Fac          CARE AA        10500   Reaffirmed
Maithon Power Ltd                     NCDs (NCDs)        CARE AA        5000    Reaffirmed
Mangalmay Foundation Trust            LT Bk Fac          CARE BB        158.7   Reaffirmed
Marc Enterprises Pvt Ltd              LT Bk Fac          CARE BB+       93.5    Reaffirmed
(reduced from 12.00 Crore)
Marc Enterprises Pvt Ltd              LT/ ST Bk Fac      CARE BB+/A4+   350     Reaffirmed
(reduced from 36.00 Crore)
Mayur Uniquoters Ltd                  LT Bk Fac - Bk     -              -       Withdrawn
                                      Overdraft
Mayur Uniquoters Ltd                  LT Bk Fac – Fund   -              -       Withdrawn
                                      based/ Non-fund
                                      based
Mayur Uniquoters Ltd                  LT Bk Fac – TL     CARE AA        13.2    Reaffirmed
(reduced from Rs.6.67 Crore)
Mayur Uniquoters Ltd                  LT/ ST Bk Fac      CARE AA/A1+    500     Reaffirmed
(reduced from Rs.65 Crore)
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac –TL      CARE BBB+      46480
Revised from CARE BBB;
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac – (ECBs) CARE BBB+      7430
Revised from CARE BBB;
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac–Non-Fund CARE BBB+      5710
                                      Based (BG)
Revised from CARE BBB;
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac – Fund   CARE BBB+      10600
                                      Based – Working
                                      capital limits
Revised from CARE BBB;
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac -        CARE BBB+      2700
                                      Non-Fund Based –
                                      Derivative Limit
Revised from CARE BBB;
Mccmahadeo Constructions Pvt Ltd      LT Bk Fac          -              -       Withdrawn
Medeor Hospitals Ltd                  LT Bk Fac          CARE BB+       4920
Revised from CARE BBB-
Merge Stones                          LT Bk Fac          CARE B+        230     Assigned
Metro Dairy Ltd                       LT Bk Fac          CARE BBB+      625     Assigned
Mmtc Ltd                              LT Bk Fac          CARE A         8550    Reaffirmed
Mmtc Ltd                              LT/ ST Bk Fac      CARE A/A1      53230   Reaffirmed
Modepro India Pvt Ltd                 LT Bk Facility     CARE BBB-      186     Reaffirmed
Mother Dairy Fruit & Vegetable Pvt LtdBk Fac – FB – LT – CARE AAA       12050   Reaffirmed
                                      CC
Mother Dairy Fruit & Vegetable Pvt LtdBk Fac – FB – LT – CARE AAA       405     Reaffirmed
                                      TL
N N Ispat Pvt Ltd                     LT Bk Fac          CARE BBB-      367.5   Reaffirmed
Nacl Industries Ltd                   LT Bk Fac          CARE A-        2743.9  Reaffirmed
(Enhanced from Rs. 224.50 Crore)
Narayani Ispat Ltd                    LT Bk Fac          CARE BBB-      830     Reaffirmed
Narayani Steels Ltd                   LT Bk Fac          CARE BBB-      975     Reaffirmed
Navachetana Microfin Services Pvt Ltd LT Bk Fac          CARE BB        800
Issuer Not Cooperating; Revised from CARE BB+; Negative on the basis of best available
information
Navkar Infrastructure                 LT Bk Fac          CARE B+        90      Assigned
New Saraswati House (India) Pvt Ltd   LT Bk Fac          CARE AA- (SO)* 482.5   Reaffirmed
(increased from 25 Crore); * The ratings are based on the credit enhancement in the form of an
unconditional and irrevocable Corporate Guarantee from S. Cha
Nexo Industries Pvt Ltd               LT Bk Fac          CARE BBB       745.1
Revised from CARE BBB+;
Nirja Publishers & Printers Pvt Ltd   LT Bk Fac          CARE AA- (SO)  60      Reaffirmed
North Street Cooling Towers Pvt Ltd   LT Bk Fac          CARE BB+       78
Revised from CARE BB; ; (Enhanced from 5.80 Crore)
Nv Distilleries And Breweries Pvt Ltd LT Bk Fac          CARE B+        2382.7
Revised from CARE B- ; (Reduced from267.16 Crore)
Nv Distilleries And Breweries Pvt Ltd Long/ST Bk Fac     CARE B+/A4     20
Revised from CARE B-/CARE A4
Nv Distilleries Pvt Ltd               LT Fac             CARE BB+       600
Revised from CARE BB-
Nv International Pvt Ltd              LT Bk Fac          CARE BB-       1213.2
Revised from CARE B ; (reduced from 139.00 Crore)
Nv International Pvt Ltd              LT/ST Bk Fac       CARE BB-/A4    50
Revised from CARE B/CARE A4
Omaxe Ltd                             LT Bk Fac          CARE BBB-      13700
Revised from CARE BBB-; (enhanced from Rs.1,070 Crore)
Omaxe Ltd                             LT/ST Bk Fac       CARE BBB-/A3   1300
Revised from CARE BBB-/ CARE A3
Pasupati Aquatics Pvt Ltd             LT Bk Fac          CARE BB        200
ISSUER NOT COOPERATING; Based on best available information
Pasupati Aquatics Pvt Ltd             LT/ST Bk Fac       CARE BB/A4+    75
ISSUER NOT COOPERATING; Based on best available information
Poct Services Pvt Ltd                 LT Bk Fac          CARE BB+       75      Reaffirmed
Poct Services Pvt Ltd                 LT/Short- term Bk  CARE BB+/A4+   75      Reaffirmed
                                      Fac
Polyplex Corporation Ltd              LT Bk Fac          CARE A+        3570    Reaffirmed
(enhanced from 196.36 Crore)
Premier Liquor India Ltd              LT Bk Fac          CARE BBB-      125     Reaffirmed
Profive Engineering Pvt Ltd           LT Bk Fac          CARE BB+       48.5
Rating revised from CARE BB
R & D Multiples (Metal Cast) Pvt Ltd  LT Bk Fac          CARE BB+       109.2
Revised from CARE BB
R. N. Knitfab Pvt Ltd                 LT Bk Fac          CARE BBB-      100     Reaffirmed
Ram Ratna Electricals Ltd             LT Bk Fac          CARE BBB-      178.8
Revised from CARE BB+ ; (reduced from 18.88 Crore)
Ram Ratna Electricals Ltd             LT/ ST Bk Fac      CARE BBB-/A3   70
Revised from CARE BB+/ CARE A4+; (reduced from 10.00 Crore)
Rama Phosphates Ltd                   LT Bk Fac (TL)     -              -       Withdrawn
Rama Phosphates Ltd                   LT Bk Fac (CC /    CARE BBB-      550     Reaffirmed
                                      Proposed facility)
(Enhanced from Rs.50.50 Crore)
Rathi Special Steels Ltd              LT Bk Fac          CARE BBB-      456.5   Reaffirmed
Ravi Technoforge Pvt Ltd              LT Bk Fac          CARE BB+       463.5   Reaffirmed
(reduced from Rs.63.09 Crore)
Ravi Technoforge Pvt Ltd              LT / ST Bk Fac     CARE BB+/A4+   300     Reaffirmed
Realcade Lifescience Pvt Ltd          LT Bk Fac          CARE BB-       249.1
Revised from CARE B+;
Realcade Lifescience Pvt Ltd          LT /ST Bk Fac      CARE BB- /A4   30
Revised from CARE B+ / CAREA4
Remi Elektrotechnik Ltd               LT Bk Fac – Fund   CARE BBB       110     Reaffirmed
                                      Based
Remi Process Plant And Machinery Ltd  LT Bk Fac (FB)     CARE BBB-      50
Reaffirmed; Outlook revised from Negative to Stable
Remi Sales And Engineering Ltd        LT Bk Fac (FB)     CARE BBB-      67.5    Reaffirmed
Rich Offset (India) Pvt Ltd           LT Bk Fac          CARE BB+       304.3   Reaffirmed
Rishi Fibc Solutions Pvt Ltd          LT Bk Fac          CARE A         1649.8  Reaffirmed
(enhanced from 94.86 Crore)
Rjp Infrastructure Pvt Ltd            LT Bk Fac          CARE BBB       30      Reaffirmed
(reduced from Rs. 5.00 Crore)
Rjp Infrastructure Pvt Ltd            LT / ST Bk Fac     CARE BBB/A3+   320     Reaffirmed
(reduced from Rs. 55.00 Crore)
Rl Steels And Energy Ltd              LT                 CARE B+        907     Assigned
Rl Steels And Energy Ltd              LT/ST              CARE B+/A4     610.7   Assigned
Robust Buildwell Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Rohan Rajdeep Toll Roads Ltd          LT Bk Fac          CARE A         581.3
Revised from CARE A-; ; (reduced from 62.62 Crore)
Rohan Rajdeep Toll Roads Ltd          NCDs- [ISIN:       CARE A         658
                                      INE060P07011]
Revised from CARE A-;
Rupsha Fish Pvt Ltd                   LT Bk Fac          CARE BB        100
Issuer Not Cooperating; based on best available information.
S K Samanta & Company Pvt Ltd         LT Bk Fac          CARE A-        200     Reaffirmed
S M Enterprises                       LT Bk Fac          CARE BB        129.8   Assigned
Sai Chakra Hotels Pvt Ltd             LT Bk Fac@         CARE A+ (SO)   3500    Reaffirmed
@ The rated facility holds credit enhancement in the form of unconditional and irrevocable
corporate guarantee from Prestige Estate Projects Limited.
Sharp Ferro Alloys Ltd                LT Bk Fac          CARE BBB-      363.5   Reaffirmed
Shingora Textiles Ltd                 LT Bk Fac          CARE BBB       439
Reaffirmed; Outlook revised from stable to negative ; (enhanced from 38.04 Crore)
Shivalay Ispat And Power Pvt Ltd      LT/ ST Bk Fac      CARE A+        360
Revised from CARE A
Simero International Llp              LT Bk Fac          CARE BBB-      705.1   Reaffirmed
(reduced from Rs. 71.00 Crore)
Simero International Llp              LT/ ST Bk Fac      CARE BBB-/A3   41      Reaffirmed
Simero Vitrified Pvt Ltd              LT Bk Fac          CARE BBB-      713.6   Reaffirmed
(reduced from Rs. 75.55 Crore)
Simero Vitrified Pvt Ltd              LT/ ST Bk Fac      CARE BBB-/A3   62.5    Reaffirmed
Smilax Healthcare Drug Co.            LT Bk Fac          CARE BB+       127.5   Assigned
Soccer International Pvt Ltd          LT Bk Fac          CARE BBB       78.6
Reaffirmed; Outlook revised from Stable to Positive ; (reduced from 10.24 Crore)
Soccer International Pvt Ltd          Long/ST Bk Fac     CARE BBB/A3+   740
Reaffirmed; Outlook revised from Stable to Positive ; (increased from 51.00 Crore)
Sona Wires Pvt Ltd                    LT Bk Fac          CARE D         31.8
Revised from CARE B+ ; (reduced from 3.59 Crore)
Soni Ginning Factory                  LT Bk Fac          CARE BB-       60
“Issuer not cooperating; Based on basis of best available information”
Spads Red Fields Exim Pvt Ltd         LT Bk Fac          CARE BB-       90
Issuer not cooperating; Revised from CARE BB on the basis of best available information
Sprint Exports Pvt Ltd                LT Fac             CARE BBB       1713.4
Revised from CARE BBB-; (enhanced from 165.00 Crore)
Sprng Energy Pvt Ltd                  LT Bk Fac^         CARE A- (SO)   6000    Reaffirmed
(enhanced from 200.00 Crore) ; ^Backed by unconditional and irrevocable Sponsor Support
Agreement by Actis Energy 4 LP, Actis Energy 4 A LP, Actis Energy 4
Sundew Properties Ltd                 LT Bk Fac          CARE A+        13803.8 Reaffirmed
Super Iron Foundry Pvt Ltd            LT Bk Fac          CARE BB+       210
ISSUER NOT COOPERATING; Based on best available information
Swastik Electrotech Pvt Ltd           LT/ST Bk Fac       CARE BB+/A4+   71      Assigned
Tarawade Logistics Pvt Ltd            LT Bk Fac          CARE B+        10
Revised from CARE B; Issuer Not Cooperating
Tata Chemicals Ltd                    LT Bk Fac – FBL    CARE AA+       18970*  Reaffirmed
*includes unallocated limits of Rs.602 crore
Tata Chemicals Ltd                    Non – Convertible  CARE AA+       2500    Reaffirmed
                                      Debentures
The Batasingaram Farmers Service Co OpLT Bk Fac          CARE B         150     Assigned
Society Ltd
Thomson Press India Ltd               LT Bk Fac          CARE A-        880     Reaffirmed
(reduced from 98.00 Crore)
Thriveni Earthmovers Pvt Ltd          LT Bk Fac          CARE BBB+      6287.4
Rating Reaffirmed; Outlook revised from Stable; (reduced from 705.09 Crore)
Tommy Hilfiger Arvind Fashion Pvt Ltd LT Bk Fac          CARE A+        450     Reaffirmed
Triton Maritime Pvt Ltd               LT Bk Fac          CARE BBB-      270.2   Reaffirmed
(reduced from Rs.32.50 Crore)
Uni-Com India Pvt Ltd                 LT Bk Fac          CARE A-        800     Reaffirmed
Uniquest Infra Ventures Pvt Ltd       Bk Fac – Non-fund  CARE AA-/A1+   750     Reaffirmed
                                      based – LT/ ST –BG
Upper India Steel Manufacturing And   LT Bk Fac          CARE B+        447
Engineering Co. Ltd
Revised from CARE BB- ; (reduced from Rs.51.60 Crore)
Usha Yarns Ltd                        LT Bk Fac          CARE BBB-      442     Reaffirmed
Usha Yarns Ltd                        LT/ST Bk Fac       CARE BBB-/A3   0.2     Reaffirmed
Uttara Impex Pvt Ltd                  Long/ ST Bk Fac    -              -       Withdrawal
Uttara Impex Pvt Ltd                  LT Bk Fac          CARE A-/(SO)   140     Assigned
Uv Asset Reconstruction Co. Ltd       LT Bk Fac          CARE BBB       1500    Reaffirmed
Veekay Pvc Profiles                   LT Bk Fac          CARE BB-       110.7   Assigned
Vibrant Global Trading Pvt Ltd        LT Bk Fac (FBL)    CARE BB+       300
Revised from CARE BBB-;
Vidya Prakashan Mandir Pvt Ltd        LT Bk Fac          CARE BB+       250
Issuer Not Cooperating;Revised from CARE BBB on the basis of best available information
Vijayalakshmi Agro Food Industries    LT Bk Fac          CARE BB-       120
Revised from CARE B+, Stable; ISSUER NOT COOPERATING
Vikas Publishing House Pvt Ltd        LT Bk Fac          CARE AA- (SO)* 700     Reaffirmed
* The ratings are based on the credit enhancement in the form of an unconditional and
irrevocable Corporate Guarantee from S. Chand And Company Ltd. (SCCL -
Vikram Traders                        LT Bk Fac          CARE B+        110
Issuer Not Cooperating;Revised from CARE BB- on the basis of best available information
Village Financial Services Ltd        LT Bk Fac          -              -       Withdrawn
Village Financial Services Ltd        LT Bk Fac          CARE BBB-      1846.9
Issuer not cooperating; Based on best available information
Vriddhi Infratech – Blacklead InfratecLT Bk Fac          CARE B+        150
Revised from CARE B
Western Carriers (India) Ltd          LT Bk Fac          CARE BBB+      1240
Revised from CARE BBB;
Wockhardt Ltd                         LT Bk Fac (Fund    CARE BBB-      9000    Reaffirmed
                                      Based)
Wockhardt Ltd                         NCD issue          CARE BBB-      5000    Reaffirmed
                                      (Proposed)
Yours Projects Pvt Ltd                LT Bk Fac          CARE BB+       150     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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below