January 9, 2019 / 9:27 AM / 3 months ago

CARE ratings for Indian debt instruments-Jan 9

    Jan 9 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 8, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
5Paisa Capital Ltd                    CP                 CARE A1+       1500    Reaffirmed
Aarti Drugs Ltd                       CP                 CARE A1+       500     Reaffirmed
Ahuja Impex Pvt Ltd                   ST Bk Fac          CARE A4        100
(Issuer Not Cooperating)
Ambit Finvest Pvt Ltd                 CP issue           CARE A1+ (SO)  1000    Reaffirmed
Balaji International                  ST Bk Fac          CARE A4        80
(Issuer Not Cooperating)
Bansal Infraprojects Pvt Ltd          ST Bk Fac          CARE A3        250     Reaffirmed
(enhanced from 10.00 Crore)
Blue Star Engineering & Electronics LtCP*                CARE A1+ (SO)  250     Reaffirmed
*The rating assigned to the aforesaid commercial papers is based on the credit enhancement in
the form of letter of comfort issued to the investors by BSL. The commercial papers placed are
earmarked to the working capital bank facilities of BSEEL which are already backed by
unconditional and irrevocable corporate guarantee issued by BSL. The rating is provisional since
the final copy of the letter of comfort issued to the prospective investor is to be received.
The rating shall be made final upon receipt of the said document.  
Blue Star Ltd                         ST Bk Fac          CARE A1+       5180    Reaffirmed
                                      (Non-fund based)
(reduced from 1010.00 Crore)
Blue Star Ltd                         CP                 CARE A1+       5000    Reaffirmed
Bright Power Projects (India) Pvt Ltd II. Short term     CARE A1 (SO)   2500    Reaffirmed
                                      BkFac
Budge Budge Refineries Ltd            ST BkFac           CARE A2        2820    Revised from
                                                                                CARE A3+
(enhanced from 280.25 Crore)
C&S Himoinsa (P) Ltd                  ST Bk Fac          CARE A3        50      Assigned
Carona Knitwear                       ST Bk Fac          CARE A4        225     Assigned
Ceat Ltd                              ST BkFac           CARE A1+       13000   Reaffirmed
(Enhanced from Rs. 900 crore Crore)
Ceat Ltd                              CP (CP) issue      CARE A1+       3500    Reaffirmed
Dhariwal Infrastructure Ltd           ST BkFac           CARE A3        750     Reaffirmed
(reduced from 100.00 Crore)
Drt Anthea Aroma Chemicals Pvt. Ltd.  Short Term BkFac   CARE A2+       860     Reaffirmed
Emami Agrotech Ltd                    ST Bk Fac          CARE A2        55403   Reaffirmed
(enhanced from 4,565.50 Crore)
Emami Paper Mills Ltd                 ST Bk Fac          CARE A1        4800    Reaffirmed
(enhanced from 430.0)
Guru Nanak Auto Enterprises Ltd       ST BkFac           CARE A3+       150     Revised from
                                                                                CARE A3
Gv Knits Pvt Ltd                      ST Bk Fac          CARE A4        2
(Issuer Not Cooperating)
Haldia Energy Ltd                     ST Bk Facility     CARE A1+       2000    Reaffirmed
Haldia Energy Ltd                     CP Issue*          CARE A1+       4500    Reaffirmed
* HEL maintains that the aggregate outstanding under CP and cash credit shall be within the
sanctioned working capital limit
Hightech Healthcare                   ST Bk Fac          CARE A4        62.5
(Issuer Not Cooperating)
K.K. Builders Pvt Ltd                 ST Bk Fac          CARE A4+       260     Reaffirmed
Kaizen Cold Formed Steel Pvt Ltd      ST Bk Fac          CARE A4        80.7    Reaffirmed
(enhanced from 6.07 Crore)
Komoline Aerospace Ltd                ST Bk Fac          CARE A4        70      Reaffirmed
removed from credit watch with negative implications
Krofta Papers Pvt Ltd                 ST Bk Fac          CARE D         50
(Issuer Not Cooperating)
Kvtek Power Systems Pvt Ltd           ST Bk Fac          CARE A4        43
(Issuer Not Cooperating)
Madhav Cotex Pvt Ltd                  ST Bk Fac          CARE A4        40
(Issuer Not Cooperating)
Margo Plywood Pvt Ltd                 ST Bk Fac          -              -       Withdrawn
Mukul Exports                         ST Bk Fac          CARE A4        44      Revised from
                                                                                CARE A4+
(Issuer Not Cooperating)
Navdurga Rice Mill                    ST Bk Fac          -              -       Withdrawn
Nutech Appliances                     ST BkFac           CARE A4        30      Revised from
                                                                                CARE A4
(Issuer Not Cooperating)
Omkar Realtors And Developers Pvt Ltd ST Bk Fac            -            -       Reaffirmed at
                                                                                CARE A4
                                                                                Rating Withdrawn
Omkar Realtors And Developers Pvt Ltd ST Non- FB           -            -       Reaffirmed at
                                      (LC/BG)                                   CARE A4
                                                                                Rating Withdrawn
Parekhplast India Ltd                 ST Bk Fac          CARE A4        65      Reaffirmed
Pawan Communications Pvt Ltd          Short--term Bk Fac CARE A4+       25      Assigned
P. K. Industries                      ST Bk Fac          CARE D         60      Revised from
                                                                                CARE A4
(Issuer Not Cooperating)
Philip D Costa & Co.                  ST Bk Fac          CARE A4        40      Reaffirmed
Pnc Rajasthan Highways Pvt Ltd        ST BkFac           CARE A1        440.5   Reaffirmed
Prachi (India) Pvt Ltd                ST Bk Fac          CARE A4        30
(Issuer Not Cooperating)
Pravesha Industries Pvt Ltd           ST Bk Fac          CARE A2+       733.3   Assigned
Premco Rail Engineers Ltd             ST Bk Fac          CARE A3        267.4   Reaffirmed
Prime Star                            ST Fac             CARE A4        100     Reaffirmed
Ramkrushna Spinning Mills Pvt Ltd     ST Bk Fac          -              -       Withdrawn
Rashtriya Chemicals And Fertilizers LtCP (CP) Issue      CARE A1+       20000   Reaffirmed
Royal Pressing & Components Pvt Ltd   ST Bk Fac          CARE A4        35
(Issuer Not Cooperating)
Saigon Infratech Pvt Ltd              ST Bk Fac          CARE D         260
(Issuer Not Cooperating)
Sai Fertilizers Pvt. Ltd              ST Bk Fac          CARE A2+       200     Reaffirmed
Sagar Cements Ltd                     ST Bk Fac          -              -       Withdrawn
Sarv Bio Labs Pvt Ltd                 ST Bk Fac          CARE A3        75      Revised from
                                                                                CARE A4+
Sharma Construction                   ST Bk Fac          CARE A4        55
(Issuer Not Cooperating)
Shoppers Stop Ltd                     ST BkFac           CARE A1+       215     Reaffirmed
Shoppers Stop Ltd                     CP (CP) issue*     CARE A1+       1000    Reaffirmed
*The CP/STD issue shall be maintained such that the outstanding CP/STD & fund based working
capital limit utilized will not exceed the lesser of sanctioned fund based limits or the Drawing
Power at any point of time. 
Shrinet And Shandilya Construction PvtST Bk Fac          CARE A4        320     Revised from
Ltd                                                                             CARE A4
(Issuer Not Cooperating)
Shriram Transport Finance Co. Ltd     CP Issue           CARE A1+       75000   Reaffirmed
Shyam Century Ferrous Ltd             ST Bk Fac          CARE A2+       220     Reaffirmed
Shyamali Cold Storage Pvt Ltd         ST BkFac           CARE A4        2.5     Reaffirmed
Star Cotspin Ltd                      Short- term Bk Fac -              -       Withdrawn
Spykar Lifestyles Pvt Ltd             ST Bk Fac –Fund    CARE A1+(SO)   460     Reaffirmed
                                      Based – CC Limit
Spykar Lifestyles Pvt Ltd             ST Bk Fac-NFBLC/BG CARE A1+(SO)   200     Reaffirmed
Spykar Lifestyles Pvt Ltd             ST Bk Fac –Fund    CARE A1+(SO)   460     Reaffirmed
                                      Based – CC Limit
Spykar Lifestyles Pvt Ltd             ST Bk Fac-NFBLC/BG CARE A1+(SO)   200     Reaffirmed
Sri Pavithra Constructions            ST Bk Fac          CARE A4+       100     Assigned
Ssc Projects Pvt Ltd                  ST BkFac           CARE A4+       550     Revised from
                                                                                CARE A4
(Issuer Not Cooperating)
Sunbeam Enterprises                   ST BkFac           CARE A4        55      Revised from
                                                                                CARE A4
(Issuer Not Cooperating)
Texmaco Rail & Engineering Ltd        Short term BkFac   CARE A1+       50      Reaffirmed
Texmaco Rail & Engineering Ltd        Commercial Paper   CARE A1+       1000    Reaffirmed
                                      (CP)*
*carved out of the sanctioned fund based working capital limits of the company
Vedant Dyestuffs Intermediates Pvt LtdST Bk Fac          -              -       Withdrawn
Vertex Construction Company           ST BkFac           CARE A4        13
(Issuer Not Cooperating)
Vision Exports                        ST Bk Fac          CARE A4        170     Revised from
                                                                                CARE A4+
(Issuer Not Cooperating)
Vsp International Pvt Ltd             ST Bk Fac          CARE A4        10      Revised from
                                                                                CARE A4+
(Issuer Not Cooperating)
White House Tiles Pvt Ltd             ST Bk Fac          CARE D         7.5
(Issuer Not Cooperating)
Writers And Publishers Pvt Ltd        ST Bk Fac          -              -       Withdrawn
 
LONG TERM RATINGS:
-------------------
Ggl Hotel & Resort Co. Ltd            LT Bk Fac          CARE BBB       2656.8  Reaffirmed
(enhanced from 153.17)
A.R. Stanchem Pvt. Ltd                LT Bk Fac          CARE A-        4.4     Reaffirmed
(reduced from 1.10 Crore)
A.R. Stanchem Pvt. Ltd                LT/ST Bk Fac       CARE A-/A2+    310     Reaffirmed
Aaa Roller Flour Mills Pvt Ltd        LT Bk Fac          CARE BB-       193.2
(Issuer Not Cooperating)
Aarti Drugs Ltd                       LT Bk FacTL        CARE A+        2030.8  Reaffirmed
Aarti Drugs Ltd                       LT/ST BkFac        CARE A+/A1+    9399.9  Reaffirmed
Aditya Educational Society            LT Bk Fac          CARE BBB-      2300    Reaffirmed
(enhanced from 137.40 Crore)
Aditya Educational Society            LT/STBk Fac        CARE BBB-/A3   129     Assigned
Ahuja Impex Pvt Ltd                   LT Bk Fac          CARE BB        50
(Issuer Not Cooperating)
Airtec Electrovision Pvt Ltd          LT Bk Fac          CARE B         80      Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Airtec Electrovision Pvt Ltd          Long/ ST Bk Fac    CARE B/A4      10      Revised from
                                                                                CARE B+/ CARE
                                                                                A4
(Issuer Not Cooperating)
Ambit Finvest Pvt Ltd                 LT Bk Fac*#        CARE A+(SO)    1000    Reaffirmed
*based on credit enhancement in the form of an unconditional and irrevocable guarantee from the
parent, Ambit Private Limited (APL) /# Final rating assigned upon receipt of executed guarantee
documents 
Ambit Finvest Pvt Ltd                 LT Bk Fac *        CARE A+(SO)    2617.5  Reaffirmed
(enhanced from Rs.191.75 crore Crore) /*based on credit enhancement in the form of an
unconditional and irrevocable guarantee from the parent, Ambit Private Limited (APL) 
Ambit Finvest Pvt Ltd                 LT Bk Fac*^        CARE A+(SO)    3882.5  Reaffirmed
(enhanced from Rs.228.25 crore Crore) /*based on credit enhancement in the form of an
unconditional and irrevocable guarantee from the parent, Ambit Private Limited (APL) /^The
rating is provisional and will be confirmed upon receipt of executed guarantee documents to the
satisfaction of CARE 
Amri Hospitals Ltd                    NCD issue          CARE A- (SO)   1335.9  Reaffirmed
(reduced from 140.53 Crore)
Amri Hospitals Ltd                    LT Bk Facility     CARE A- (SO) * 1814    Reaffirmed
(reduced from 206.25 Crore) /* credit enhancement in the form of shortfall undertaking from
Raviraj Viniyog Pvt Ltd (RVPL) and Prabhakar Viniyog Pvt Ltd (PVPL) for replenishment of Debt
Service Reserve Account (DSRA) during the full tenure of the facilities/instrument
Ardent Steel Ltd                      Bk Fac-TL-LT       CARE BBB-      1263.1  Reaffirmed
(reduced from 151.81 Crore)
Ardent Steel Ltd                      Bk Fac-Fund        CARE BBB-      187.8   Reaffirmed
                                      Based-LT
Ashima Paper Products                 LT Bk Fac          CARE B         61.6    Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Atlas Pet Plas Industries Ltd         LT Bk Fac          CARE B         132     Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Avp Powerinfra Pvt Ltd                LT Bk Fac          -              -       Withdrawn
Balaji International                  LT Bk Fac          CARE B         20      Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Balaji Speciality Chemicals Pvt Ltd   LT Bk Fac          CARE AA-(SO) * 1250    Assigned
* The above ratings are based on the credit enhancement in the form of an unconditional and
irrevocable corporate guarantee provided by Balaji Amines Limited (BAL)
Balaji Speciality Chemicals Pvt Ltd   Long term/Short    CARE AA-(SO)   500     Assigned
                                      termBk Fac         /A1+(SO)*
* The above ratings are based on the credit enhancement in the form of an unconditional and
irrevocable corporate guarantee provided by Balaji Amines Limited (BAL) for the bank facilities
of Balaji Speciality Chemicals Private Limited (BSCPL) 
Bandhan Bank Ltd                      Unsecured          CARE AA-       1600     #
                                      Subordinated
                                      convertible Debenture
Bansal Infraprojects Pvt Ltd          LT Bk Fac          CARE BBB-      156     Reaffirmed
(enhanced from 12.00 Crore)
Bharat Financial Inclusion Ltd        LT / ST Bk Fac     CARE AA- /A1+  75000   Revised from
                                                                                CARE A+ /
                                                                                CARE A1+$
Blue Star Engineering & Electronics LtLT Bk Fac          CARE AA+ (SO)  199.8   Reaffirmed
                                      (Term-Loan)@
@backed by unconditional and irrevocable corporate guarantee issued by Blue Star Limited (BSL;
rated ‘CARE AA+; Stable/CARE A1+’ for bank facilities and instruments) 
Blue Star Engineering & Electronics LtLT Bk Fac (Working CARE AA+ (SO)  300     Reaffirmed
                                      capital limits) @
@backed by unconditional and irrevocable corporate guarantee issued by Blue Star Limited (BSL;
rated ‘CARE AA+; Stable/CARE A1+’ for bank facilities and instruments) 
Blue Star Ltd                         LT Bk Fac (FB)     CARE AA+       500     Reaffirmed
Blue Star Ltd                         LT/ST BkFac        CARE AA+/A1+   7000    Assigned
                                      (FB/NonFund based)
Bright Power Projects (India) Pvt Ltd I. Long term       CARE A (SO)    800     Revised from
                                      BkFac                                     CARE A+ (SO)
Bright Power Projects (India) Pvt Ltd IV. Proposed LTBk  CARE A (SO)    300     Assigned
                                      Fac
Bright Power Projects (India) Pvt Ltd III. LT/ST Bk Fac  CARE A (SO)/A1 499.9   Revised from
                                                         (SO)                   CARE A+ (SO)
                                                                                /CARE A1 (SO)
Budge Budge Refineries Ltd            LT BkFac           CARE BBB+      230     Reaffirmed
(reduced from 24.75 Crore)
C&S Himoinsa (P) Ltd                  LT Bk Fac          CARE BBB-      50      Assigned
Carona Knitwear                       LT Bk Fac          CARE BB        14.5    Assigned
Ceat Ltd                              NCD issue          -              -       Withdrawn
Ceat Ltd                              LT BkFac           CARE AA        10700   Reaffirmed
(Enhanced from Rs. 955 Crore Crore)
Crossword Bookstores Ltd              LT Bk Fac $        CARE AA- (SO)  80      Reaffirmed
$ Backed by unconditional and irrevocable corporate guarantees of SSL
Crossword Bookstores Ltd              LT / ST Bk Fac-    CARE AA-       120     Reaffirmed
                                      Working Capital    (SO)/A1+ (SO)
                                      Limits $
Crossword Bookstores Ltd              LT / ST Bk Fac-    CARE AA-       30      Reaffirmed
                                      Working Capital    (SO)/A1+ (SO)
                                      Limits #
# To be Backed by unconditional and irrevocable corporate guarantees of SSL  
Damodar Valley Corporation            LT Bond Issue      CARE AAA (SO)  44000   Reaffirmed
                                      (Series II)
Damodar Valley Corporation            LT Bond Issue      CARE AAA (SO)  26000   Reaffirmed
                                      (Series III)
Datta Krupa Roller Flour Mill Pvt. LtdLT Bk Fac          CARE C         250     Revised from
                                                                                CARE BB+
(Issuer Not Cooperating)
Daulat Flour Mill                     LT Bk Fac          CARE B+        89.6
(Issuer Not Cooperating)
Dhariwal Infrastructure Ltd           LT BkFac           CARE BBB       37161.4 Reaffirmed
(enhanced from 3,381.02 Crore)
Drt Anthea Aroma Chemicals Pvt. Ltd.  Long Term BkFac    CARE A-        252.4   Reaffirmed
Duet India Hotels (Ahmedabad) Pvt Ltd.LT BkFac- TL       CARE BBB-      462.5   Assigned
Duet India Hotels (Chennai) Pvt Ltd.  LT BkFac           CARE BBB-      359     Assigned
East India Udyog Ltd                  LT Bk Fac          CARE BBB       2000    Assigned
East India Udyog Ltd                  Long/ ST Bk Fac    CARE BBB/A3    4000    Assigned
Emami Agrotech Ltd                    LT Bk Fac          CARE A-        5883.4  Reaffirmed
(enhanced from 444.70crs)
Emami Paper Mills Ltd                 LT BkFac           CARE A         13104.5 Reaffirmed
(enhanced from 1,293.15 Crore)
Emami Paper Mills Ltd                 LT Bk Fac          CARE A         13104.5 Reaffirmed
(enhanced from 1,293.15)
Ganpat Rai Kewal Ram Trading Co. Pvt LLT Bk Fac          CARE B+        140     Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Gdr Educational Society               LT Bk Fac          CARE D         490.1   Revised from
                                                                                CARE BBB
Ggl Hotel & Resort Co. Ltd            LT BkFac           CARE BBB       2656.8  Reaffirmed
(enhanced from 153.17 Crore)
Ghanshyam Das Rungta Foundation       LT Bk Fac          CARE D         118.5   Revised from
                                                                                CARE BBB
Goa Industrial Development CorporationLT Bk Fac (Fund    CARE A         2000    Assigned
                                      Based – Proposed)# (SO)/(Single A
                                                         (Structured Obligation)
# The above rating is currently provisional and is proposed to be backed by irrevocable,
continuing and un-conditional guarantee to be executed by Government of Goa in the favor of Goa
Industrial Development Corporation (Goa-IDC). 
Guru Nanak Auto Enterprises Ltd       LT BkFac           CARE BBB       908.1   Revised from
                                                                                CARE BBB-
(enhanced from 60.10 Crore)
Gv Knits Pvt Ltd                      LT Bk Fac          CARE B         63.9    Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Haldia Energy Ltd                     LT Bk Fac          CARE A+        40934.6 Reaffirmed
(enhanced from 3,442.45 Crore)
Hightech Healthcare                   LT Bk Fac          CARE B         35      Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Hitkari Gram Udyog Sangh              LT Bk Fac          CARE BB-       60      Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
Iifl Home Finance Ltd (Erstwhile IndiaNCDs (NCD)         -              Nil^    Withdrawn
Infoline Housing Finance Ltd)
^The rating has been withdrawn on account of redemption on maturity
Iifl Home Finance Ltd (Erstwhile IndiaNCDs (NCD)         CARE AA        4000    Reaffirmed
Infoline Housing Finance Ltd)
Il&Fs Tamil Nadu Power Co. Ltd        LT Bk Fac          CARE D         55849.3 Revised from
                                                                                CARE BB+
India Infoline Finance Ltd            NCDs (NCD)         CARE AA        16300   Reaffirmed
India Infoline Finance Ltd            LT Bk Fac          CARE AA        20000   Reaffirmed
India Infoline Finance Ltd            Subordinated Debt  CARE AA        2000    Reaffirmed
India Infoline Finance Ltd            PS                 CARE AA (RPS)  500     Reaffirmed
Inframat Alloys Pvt Ltd               LT Bk Fac          -              -       Withdrawn
J.D. Talc                             LT Bk Fac          CARE B         51.6    Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Jakson Engineers Ltd                  Fund based Bk      CARE A-        800     Revised from
                                      Fac – LT – CC                             CARE A+
Jakson Engineers Ltd                  Non-fund based Bk  CARE A-/A2+    5450    Revised from
                                      Fac – LT/ST –                             CARE A+ /
                                      LC/BG                                     CARE A1+
Jakson Ltd                            Fund based Bk Fac  CARE A+        1100    Revised from
                                      – LT – CC                                 CARE AA-
Jakson Ltd                            Non-fund based Bk  CARE A+/A1+    15250   Revised from
                                      Fac – LT/ST –                             CARE AA-/CARE
                                      LC/BG                                     A1+
(enhanced from 600.00 Crore)
Jakson Power Pvt Ltd                  Bk Fac-Fundbased   CARE A- (SO)   440     Revised from
                                      –TL                                       CARE A+ (SO)
(reduced from 47.66 Crore)
Janta Filling Station                 LT Bk Fac          CARE BB-       50
(Issuer Not Cooperating)
Jyoti Hospital Pvt Ltd                LT Bk Fac          CARE B         55.8    Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
K.K. Builders Pvt Ltd                 LT Bk Fac          CARE BB+       45      Reaffirmed
(reduced from Rs.5.0 crore Crore)
Kaizen Cold Formed Steel Pvt Ltd      LT Bk Fac          CARE B+        60      Reaffirmed
(enhanced from 5 Crore)
Karam Chand Thapar & Bros. (Coal SalesLT Bk Fac          CARE AA-       3750    Reaffirmed
Ltd
Karam Chand Thapar & Bros. (Coal SalesLT/ST BkFac        CARE AA-/A1+   3100    Reaffirmed
Ltd
Komoline Aerospace Ltd                LT Bk Fac          CARE B@        30      Revised from
                                                                                CARE BB-
Kreya Infratech Pvt Ltd               LT Bk Fac          CARE B         30      Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Kreya Infratech Pvt Ltd               LT / Short -term   CARE B/A4      60      Revised from
                                      Bk Fac                                    CARE B+ /CARE
                                                                                A4
(Issuer Not Cooperating)
Krofta Papers Pvt Ltd                 LT Bk Fac          CARE D         145
(Issuer Not Cooperating)
Kvtek Power Systems Pvt Ltd           LT Bk Fac          CARE B         77.1    Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Kvtek Power Systems Pvt Ltd           LT Bk Fac/ST Bk    CARE B/CARE A4 70      Revised from
                                      Fac                                       CARE B+ /
                                                                                CARE A4
(Issuer Not Cooperating)
Lords Travels Pvt Ltd                 LT Bk Fac          CARE BB        50      Assigned
Madhav Cotex Pvt Ltd                  LT Bk Fac          CARE B+        60
(Issuer Not Cooperating)
Mahalaxmi Technocast Ltd              LT Bk Fac (CC)     CARE B+        250     Assigned
Manglam Milk India Pvt Ltd            LT Bk Fac          CARE BB-       325     Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
Margo Plywood Pvt Ltd                 LT Bk Fac          -              -       Withdrawn
Margo Plywood Pvt Ltd                 LT/ST Bk Fac       -              -       Withdrawn
Mnc Electricals Pvt Ltd               LT BkFac           CARE B+        70      Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Mnc Electricals Pvt Ltd               Long/ STBk Fac     CARE B+/A4     120     Revised from
                                                                                CARE BB-/
                                                                                CARE A4
(Issuer Not Cooperating)
Mother Lam Pvt Ltd                    LT BkFac           CARE D         115.8   
(Issuer Not Cooperating)
Mukul Exports                         LT Bk Fac          CARE BB-       34.7    Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
Mukul Exports                         LT Bk Fac/ ST Bk   CARE BB-/A4    6.4     Revised from
                                      Fac                                       CARE BB /
                                                                                CARE A4+
(Issuer Not Cooperating)
Navayuga Engineering Co. Ltd          LT Bk Fac          CARE A         29365.7 Reaffirmed
(reduced from 3015.42 Crore)
Navayuga Engineering Co. Ltd          LT/ST BkFac        CARE A/A1      65930   Reaffirmed
Navdurga Rice Mill                    LT Bk Fac          -              -       Withdrawn
Nikhil Tobaccos                       LT Bk Fac          CARE B+        300     Reaffirmed
(enhanced from Rs. 23 crore Crore)
Nutech Appliances                     LT BkFac           CARE B         30      Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Omkar Realtors And Developers Pvt Ltd LT Bk Fac          CARE B         -        Revised from
                                                                                CARE BB and
                                                                                Rating Withdrawn
Ozone Realtors Pvt Ltd                NCD                CARE BB+(SO)   600     Reaffirmed
P. K. Industries                      LT Bk Fac          CARE D         40      Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
P.R. Packagings Ltd                   LT Bk Fac          CARE BB        150
(Issuer Not Cooperating)
Parekhplast India Ltd                 LT Bk Fac          CARE BB        452.8   Reaffirmed
(Enhanced from Rs.30.28 crore Crore)
Parthas                               LT Bk Fac          CARE B+        195.4   Reaffirmed
(reduced from 20.00 Crore)
Pawan Communications Pvt Ltd          LT Bk Fac          CARE BB+       45      Assigned
Pengg Usha Martin Wires Pvt. Ltd      LT Bk Fac          CARE A-        280.3   Reaffirmed
Pengg Usha Martin Wires Pvt. Ltd      Long/ST Bk Fac     CARE A-/A2     200     Reaffirmed
Philip D Costa & Co.                  LT Bk Fac          CARE B+        36.7    Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)/(Reduced from 4.00 Crore)
Pnc Rajasthan Highways Pvt Ltd        LT BkFac           CARE A-        3709.8  Reaffirmed
Prachi (India) Pvt Ltd                LT Bk Fac          CARE B+        150
(Issuer Not Cooperating)
Pravesha Industries Pvt Ltd           LT Bk Fac          CARE A-        1629.4  Assigned
Premco Rail Engineers Ltd             LT Bk Fac          CARE BBB-      39      Reaffirmed
Premium Lifestyle And Fashion India PvLT Bk Fac          CARE BB+       430     Reaffirmed
Ltd
(enhanced from Rs.26.00 crore Crore)
Ram Raghu Healthcare Pvt Ltd          LT Bk Fac          CARE D         42.6
(Issuer Not Cooperating)
Ramkrushna Spinning Mills Pvt Ltd     LT Bk Fac          -              -       Withdrawn
Renew Vayu Urja Pvt Ltd               LT Instrument –    CARE BBB+      8040    Reaffirmed
                                      NonConvertible                            and final
                                      Debentures                                rating assigned
Royal Pressing & Components Pvt Ltd   LT Bk Fac          CARE BB-       70
(Issuer Not Cooperating)
Sadbhav Kim Expressway Pvt Ltd        LT Bk Fac          CARE A-        7293.3  Assigned
Sagar Cements Ltd                     LT Bk Fac          -              -       Withdrawn
Sai Fertilizers Pvt. Ltd              LT Bk Fac          CARE A-        180     Reaffirmed
Sai Sulphonates Pvt. Ltd              LT Bk Fac          CARE A-        337     Reaffirmed
(Reduced from 45.05 Crore)
Sai Sulphonates Pvt. Ltd              LT/ST Bk Fac       CARE A-/A2+    250     Reaffirmed
(Enhanced from 15.00 Crore)
Saigon Infratech Pvt Ltd              LT Bk Fac          CARE D         50
(Issuer Not Cooperating)
Sarv Bio Labs Pvt Ltd                 LT Bk Fac          CARE BBB-      165     Revised from
                                                                                CARE BB+
Satyam Roller Flour Mills Pvt Ltd     LT Bk Fac          CARE BB-       100     
(Issuer Not Cooperating)
Satyam Roller Flour Mills Pvt Ltd     LT Bk Fac          CARE BB-       100
(Issuer Not Cooperating)
Shape Engineering Co. Pvt Ltd         LT BkFac           CARE B         105     Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Shape Engineering Co. Pvt Ltd         Long/Shortterm     CARE B/A4      5.8     Revised from
                                      BkFac                                     CARE B+ /CARE
                                                                                A4
(Issuer Not Cooperating)
Sharma Construction                   LT Bk Fac          CARE B+        5       Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Shiva International Apparels          LT Bk Fac          CARE BB-       90      Assigned
Shoppers Stop Ltd                     LT BkFac           CARE AA-       7426.7  Reaffirmed
Shoppers Stop Ltd                     NCD issue          CARE AA-       1000    Reaffirmed
Shrinet And Shandilya Construction PvtLT Bk Fac          CARE B         30      Revised from
Ltd                                                                             CARE B+
(Issuer Not Cooperating)
Shriram Transport Finance Co. Ltd     NCDs               CARE AA+       29053.4 Reaffirmed
(reduced from Rs.3,424 crore Crore)
Shriram Transport Finance Co. Ltd     Subordinated Debt  CARE AA+       14933   Reaffirmed
(reduced from Rs.1,787.90 crore Crore)
Shyam Century Ferrous Ltd             LT Bk Fac          CARE A-        300     Reaffirmed
Shyam Century Ferrous Ltd             Long /ST BkFac     CARE A-/A2+    10      Reaffirmed
Shyamali Cold Storage Pvt Ltd         LT BkFac           CARE B         54.8    Revised from
                                                                                CARE B-
(Issuer Not Cooperating)
Sri Pavithra Constructions            LT Bk Fac          CARE BB        50      Assigned
Sri Shyam Fashion Textiles Pvt Ltd    LT BkFac           CARE BBB-      200     Revised from
                                                                                CARE BB+
Ssc Projects Pvt Ltd                  LT BkFac           CARE BB+       120     Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
Star Cotspin Ltd                      Long- term Bk Fac  -              -       Withdrawn
Star Cotspin Ltd                      Long- term/ Short- -              -       Withdrawn
                                      term Bk Fac
Sunbeam Enterprises                   LT BkFac           CARE B         32.1    Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Sunbeam Enterprises                   Long/ ST Bk Fac    CARE B/A4      12.9    Revised from
                                                                                CARE B+ /CARE
                                                                                A4
(Issuer Not Cooperating)
Super Max Affordable Housing Pvt Ltd  LT BkFac           CARE B         250
(Issuer Not Cooperating)
Tara Tarini Construction Pvt Ltd      LT Bk Fac          CARE BB        96      Assigned
Texmaco Rail & Engineering Ltd        Long term BkFac    CARE A+        4140    Revised from
                                                                                CARE AA-
(enhanced from 334.00 Crore)
Texmaco Rail & Engineering Ltd        LT/STBk Fac        CARE A+/A1+    16620   Revised from
                                                                                CARE AA-
                                                                                /CARE A1+
Theme Hotels Pvt Ltd                  LT Bk Fac          CARE D         18.7    Reaffirmed
Thomas & Company Pvt Ltd              LT Bk Fac          CARE B         65      Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Thriveni Sainik Mining Pvt Ltd        LT BkFac*          CARE BBB+ (SO) 1700    Reaffirmed
*backed by unconditional and irrevocable corporate guarantee provided by Thriveni Earthmovers
Private Limited (TEPL, rated CARE BBB+; Positive and CARE A2)
Thriveni Sainik Mining Pvt Ltd        LT/ ST Bk Fac*     CARE BBB+      1300    Reaffirmed
                                                         (SO)/CARE A2           
                                                         (SO)
*backed by unconditional and irrevocable corporate guarantee provided by Thriveni Earthmovers
Private Limited (TEPL, rated CARE BBB+; Positive and CARE A2)                     
Tirupati Export And Import CorporationLT BkFac           CARE B         90      Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Trf Ltd                               LT BkFac           CARE BBB+      2560.2  Reaffirmed
(reduced from 297.45 Crore)
Trf Ltd                               LT/Shortterm Bk    CARE BBB+/A2   12530   Reaffirmed
                                      Fac
(reduced from 1,323.00 Crore)
Universal Cylinders Ltd               LT Bk Fac          CARE BB-       60      Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
Vardaan Exports                       LT Bk Fac          CARE D         140
(Issuer Not Cooperating)
Vardaan Exports                       ST Bk Fac          CARE D         10
(Issuer Not Cooperating)
Vardaan Exports                       LT/ ST Bk Fac      CARE D         30
(Issuer Not Cooperating)
Vedant Dyestuffs Intermediates Pvt LtdLT Bk Fac          -              -       Withdrawn
Vertex Construction Company           LT BkFac           CARE B         5
(Issuer Not Cooperating)
Vertex Construction Company           LT/ short- termBk  CARE B/A4      32
                                      Fac
(Issuer Not Cooperating)
Vhv Beverages Pvt Ltd                 LT Bk Fac          CARE D         160
(Issuer Not Cooperating)
Vision Exports                        LT Bk Fac          CARE BB-       30      Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
Vsp International Pvt Ltd             LT Bk Fac          CARE B+        90      Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
Western India Transport Finance CompanLT Bk Fac          CARE BBB-      350     Reaffirmed
Pvt. Ltd. (Witfin)
Western India Transport Finance CompanNCD                CARE BBB-      250     Reaffirmed
Pvt. Ltd. (Witfin)
White House Tiles Pvt Ltd             LT BkFac           CARE D         133
(Issuer Not Cooperating)
Yantra Esolar India Pvt Ltd           LT Bk Fac                         198.1   Reaffirmed
Z.H. Industries Pvt Ltd               LT Bk Fac          CARE B         200
(Issuer Not Cooperating)
--------------------------------------------------------------------------------------------
$: 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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