January 9, 2020 / 8:42 AM / 10 days 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, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Abhijit Realtors & Infraventures Pvt  ST Bk Fac          CARE A4        55      Revised from
Ltd                                                                                CARE A4
(Issuer not cooperating)
Ador Welding Ltd                      ST BkFac           CARE A1+       790     Reaffirmed
Balasore Alloys Ltd                   ST Bk Fac          CARE A4        953     Revised from
                                                                                CARE A4+
Bharat Carriers Ltd                   ST Bk Fac          CARE A4+       5       Reaffirmed
Centrum Financial Services Ltd        CP Programme       CARE A1+ (CE)  200     Assigned
Centrum Financial Services Ltd        CP Programme       CARE A1+ (CE)  550     Reaffirmed
Centrum Financial Services Ltd        CP Programme       CARE A1+ (CE)  250     -
Rsg Exports Pvt Ltd                   ST Bk Fac          CARE A4/       400     -
(Issuer not cooperating)
Centrum Microcredit Ltd               CP (CP) issue      CARE A3+       100     Reaffirmed
(Enhanced from 5.00)
Damodar Industries Ltd                ST Bk Fac          CARE A3        185     Revised from
                                                                                CARE A3 +
Emami Agrotech Ltd                    ST BkFac           CARE A2        55403   Reaffirmed
Fermenta Biotech Ltd                  ST Bk Fac (non-FBL)CARE A2        62.5    Reaffirmed
Galaxy Laboratories Pvt Ltd           ST Bk Fac          CARE A3        17.5    Reaffirmed
Upper India Steel Manufacturing &     ST Bk Fac          CARE D         199     -
Engineering Co. Ltd
Issuer not cooperating on the basis of best
Hdb Financial Services Ltd            CP                 CARE A1+       125000  Reaffirmed
Kider India Pvt Ltd                   ST Bk Fac          CARE A4        90      Reaffirmed
Kuantum Papers Ltd                    ST Bk Fac          CARE A2+       944.9   Reaffirmed
(enhanced from Rs. 71.55 crore)
Manaksia Aluminium Co. Ltd            ST Bk Fac (Non     CARE A3+       1050    Reaffirmed
                                      Fund Based)
Shoppers Stop Ltd                     ST Bk Fac (Non     CARE AA-/Stable380     Reaffirmed
                                      Fund Based)
S. G. Sales Corporation               ST Bk Fac          -              -       Reaffirmed at
                                                                                CARE A4 and
                                                                                withdrawn
Mohib Shoes Pvt Ltd                   ST BkFac           CARE A3+       395     Assigned
Ok Enterprise                         ST Bk Fac          CARE A4        -       Withdrawn
(Issuer not cooperating)
Ra Chem Pharma Ltd                    ST BkFac@          CARE A1+       588.5   -
(Issuer not cooperating),@ backed by the unconditional and irrevocable corporate guarantee
provided by Micro Labs Limited (MLL).
Radharani Himghar Pvt Ltd             ST Bk Fac          CARE A4        3       Reaffirmed
Resin Agency Llp                      ST – Working       CARE A1        40      Reaffirmed
                                      Capital Limits
Shoppers Stop Ltd                     Proposed ST        CARE A1+       500     Reaffirmed
                                      Working Capital
                                      Limits
Shree Enterprises                     ST Bk Fac          CARE A4        20      -
(Issuer not cooperating)
Suam Overseas Pvt Ltd                 ST Bk Fac          CARE A3+       65      Reaffirmed
Uttarayan Foods Pvt Ltd               ST Bk Fac          CARE A4        1.6     -
Issuer not cooperating
on the basis of best
available information
Venkateshwara Hatcheries Pvt Ltd      ST BkFac           CARE A1        1419.4  Revised from
                                                                                CARE A2+
(Reduced from 148.81)
Venky’S India Ltd                     ST Bk Fac          CARE A1        525     Revised from
                                                                                CARE A2+
MEDIUM TERM RATINGS:
-------------------
Damodar Industries Ltd                Medium Term Fixed  CARE BBB-      400     Revised from
                                      Deposit            (FD)/Stable            CARE BBB

LONG TERM RATINGS:
-------------------
Abheygarh                             Long -Term Bk Fac  -              -       Withdrawn
Abhijit Realtors & Infraventures Pvt  LT Bk Fac          CARE B+/Stable 280.3   Revised from
Ltd                                                                                CARE B+
(Issuer not cooperating)
Ador Welding Ltd                      LT BkFac           CARE AA-/Stable875     Reaffirmed
Akshat Agro Milling Company Pvt Ltd   LT Bk Fac (TL)     -              -       Withdrawn
Akshat Agro Milling Company Pvt Ltd   LT Bk Fac (CC)     -              -       Withdrawn
Alfa Trust Dec 2018                   Series A PTC       CARE AA- (SO)  32.7    Revised from
                                                                                CARE A (SO)
Annapurna Finance Pvt Ltd             LT BkFac           CARE A-/Stable 4518.3  Reaffirmed
(enhanced from 317.34)
Avp Powerinfra Pvt Ltd                LT BkFac – TermLoanCARE A- (CE)   1334.9  Revised from
                                                                                CARE A-
Avp Powerinfra Pvt Ltd                LT BkFac –         CARE A- (CE)   149     Revised from
                                      CashCredit                                CARE A-
B S Buildtech                         LT BkFac           CARE B+        450     -
(Issuer not cooperating)
Badoni Power Pvt Ltd                  LT BkFac – TermLoanCARE A- (CE)   1433    Revised from
                                                                                CARE A-
Badoni Power Pvt Ltd                  LT BkFac –         CARE A- (CE)   124     Revised from
                                      CashCredit                                CARE A-
Balasore Alloys Ltd                   LT Bk Fac          CARE BB/Stable 900     Revised from
                                                                                CARE BB+
Belij Hydro Power Pvt Ltd             LT Bk Fac          CARE BB        217.4   -
(Issuer not cooperating)
Bharat Carriers Ltd                   LT Bk Fac          CARE BB+/Stable130.3   Reaffirmed
(reduced from 15.92)
Bharat Ispat Udyog (Prop. Impression  LT Bk Fac          CARE BB+/Stable100     Reaffirmed
Securities Pvt Ltd)
Bharat Motors Ltd                     LT Bk Fac          CARE BB+/Stable105.7   Reaffirmed
(reduced from 24.69)
Clean Sustainable Solar Energy Pvt.   LT Bk Fac- TL&     -              -       Reaffirmed at
Ltd                                                                             CARE AA-
&the rating was based on the credit enhancement in the form of an unconditional and irrevocable
corporate guarantee given by Tata Power Renewable Energy Ltd.
Clear Water Ltd                       LT BkFac           CARE           15      Reaffirmed
                                                         BB-/Negative
Clear Water Ltd                       LT/ShortTerm Bk FacCARE           80      Reaffirmed
                                                         BB-/Negative
                                                         /A4
Crossword Bookstore Ltd               LT Bk Fac (TL)     CARE AA-       24.7    Reaffirmed
                                                         (CE)/Stable
Crossword Bookstore Ltd               LT/ST BkFac        CARE AA-       120     Reaffirmed
                                                         (CE)/Stable
                                                         /A1+ (CE)
Crossword Bookstore Ltd               Proposed LT/STBk   CARE AA-       85.3    Reaffirmed
                                      Fac                (CE)/Stable
                                                         /A1+ (CE)
D.Navinchandra Jewels                 LT Bk Fac          CARE           200     Reaffirmed
                                                         BBB-/Stable
Dali & Samir Engineering Pvt Ltd      LT BkFac           CARE           48.9    Reaffirmed
                                                         BBB-/Stable
Dali & Samir Engineering Pvt Ltd      LT/ST Bk Fac       CARE           245     Reaffirmed
                                                         BBB-/Stable/A3
Damodar Industries Ltd                LT Bk Fac          CARE           1505    Revised from
                                                         BBB-/Stable            CARE BBB
Damodar Industries Ltd                LT/ST Bk Fac       CARE           1560    Revised from
                                                         BBB-/Stable/A3         CARE BBB
Devarahipparigi Wind Power Pvt Ltd    LT BkFac           CARE A+ (CE)   5925.2  -
Placed on credit watch with negative implications ,(reduced from Rs.618.01)
Dnj Creations Llp                     Long/ST BkFac      CARE           400     Reaffirmed
                                                         BBB-/Stable/A3
Emami Agrotech Ltd                    LT BkFac           CARE A-/Stable 14012.6 Reaffirmed
(enhanced from 588.34)
Fermenta Biotech Ltd                  LT Bk Fac (FBL)    CARE A-/Stable 1090    Reaffirmed
(enhanced from 69.00)
Fermenta Biotech Ltd                  LT Bk Fac (TL)     CARE A-/Stable 745.6   Reaffirmed
(enhanced from 45.52)
Galaxy Laboratories Pvt Ltd           LT Bk Fac          CARE           70      Reaffirmed
                                                         BBB-/Stable
Gangdari Hydro Power Pvt Ltd          LT Bk Fac          CARE A+ (CE)   1050    -
Placed on credit watch with negative implications
Gayatri Vidya Parishad                LT Bk Fac          CARE BB+/Stable952.4   Revised from
                                                                                CARE BB-
(Enhanced from Rs. 80.00 Crore)
Gayatri Vidya Parishad                LT/ST Bk Fac       CARE           95      Revised from
                                                         BB+/Stable /A4         CARE BB-
Green Infra Wind Solutions Pvt Ltd    LT Bk Fac- TL      CARE BBB-      2373.8  Revised from
                                                                                CARE BBB
(Under credit watch with negative implications),(Reduced from 252.94)
Green Infra Wind Solutions Pvt Ltd    Proposed LT Bk     CARE BBB-      200     Revised from
                                      Fac- Fundbased                            CARE BBB
(Under credit watch with
negative implications)
Greenko Clean Energy Projects Pvt Ltd NCD issue – 1      CARE A+ (CE)   2010    -
Placed on credit watch with negative implications
Greenko Clean Energy Projects Pvt Ltd NCD issue – 2      CARE A+ (CE)   990     -
Placed on credit watch with negative implications
Greenko Energies Pvt Ltd              LT Bk FacLT/ST     CARE A+        47113   -
                                      BkFac
Placed on credit watch with negative implicationsPlaced on credit watch with negative
implications
Greenko Godavari Power Projects Pvt   LT Bk Fac          CARE A+ (CE)   150     -
Ltd
Placed on credit watch with negative implications
Greenko Hatkoti Energy Pvt Ltd        LT BkFac           CARE A+ (CE)   1470    -
Placed on credit watch with negative implications
Greenko Solar Power (Dharmavaram) Ltd LT Bk Fac          CARE A+ (CE)   962.7   -
Placed on credit watch with negative implications
Greenko Solar Power (Medak) Ltd       NCD issue – Series CARE A+ (CE)   189.3   -
                                      B
Placed on credit watch with negative implications
Greenko Solar Power (Medak) Ltd       NCD issue – Series CARE A+ (CE)/( 851.9   -
                                      A
Placed on credit watch with negative implications
Greenko Wind Projects Pvt Ltd         LT Bk Fac          CARE A+ (CE)   250     -
Placed on credit watch with negative implications
Grow Ever Steel (India) Pvt Ltd       LT BkFac           CARE A+/Stable 35      Reaffirmed
Grow Ever Steel (India) Pvt Ltd       Long/ST BkFac      CARE           69.6    Reaffirmed
                                                         A+/Stable/A1+
(reduced from 8.23)
Hdb Financial Services Ltd            NCDs               CARE AAA/Stable478438  Reaffirmed
Hdb Financial Services Ltd            Bk Loan Ratings    CARE AAA/Stable250000  Reaffirmed
Hdb Financial Services Ltd            Perpetual Debt     CARE AAA/Stable10000   Reaffirmed
Hdb Financial Services Ltd            Subordinate Debt   CARE AAA/Stable35000   Reaffirmed
Hdb Financial Services Ltd            Market Linked      CARE PP-MLD    30000   Reaffirmed
                                      Debentures         AAA/Stable
Helios Infratech Pvt Ltd              LT BkFac           CARE BBB-      1776    Revised from
                                                                                CARE BBB
Hi-Tech Systems & Services Ltd        LT BkFac           CARE A-        784.4   -
Continues on credit watch with developing implications
Hi-Tech Systems & Services Ltd        LT/ Shortterm Bk   CARE A-/A2+    475     -
                                      Fac
Continues on credit watch with developing implications
Iifl Home Finance Ltd                 NCDs (NCD)         CARE AA/Stable 4000    Reaffirmed
India Infoline Finance Ltd            PS                 CARE AA        500     Reaffirmed
                                                         (RPS)/Stable
India Infoline Finance Ltd            NCDs (NCD)         CARE AA/Stable 16300   Reaffirmed
India Infoline Finance Ltd            LT Bk Fac          CARE AA/Stable 20000   Reaffirmed
India Infoline Finance Ltd            Subordinated Debt  CARE AA/Stable 2000    Reaffirmed
India Nets                            LT – TL            CARE A+/Stable 173.8   Reaffirmed
India Nets                            LT/ST – Fund       CARE A+/Stable 300     Reaffirmed
                                      based/NonFBL       /A1
Jamnagar Utilities & Power Pvt Ltd    NCDs               CARE AAA/Stable55750   Reaffirmed
(reduced from 5,875)
Jsw Energy Ltd                        Proposed NCDs      -              -       Withdrawn
Kalyan Vaijinathrao Kale              LT Bk Fac          CARE D         37.3    Revised from
                                                                                CARE B+
Kider India Pvt Ltd                   LT Bk Fac          CARE BB/Stable 197.7   Reaffirmed
Kider India Pvt Ltd                   LT/ STBk Fac       CARE           100     Reaffirmed
                                                         BB/Stable/A4
Kuantum Papers Ltd                    LT/Medium-term FD  CARE A-        450     Reaffirmed
Kuantum Papers Ltd                    LT Bk Fac          CARE           6346.9  Reaffirmed
                                                         A-/Negative
(enhanced from Rs. 329.04 crore)
M. R. Weaving Mills Pvt Ltd           LT Bk Fac          CARE           730.4   Reaffirmed
                                                         BB+/Stable
(enhanced from 68.04)
Mahindra And Mahindra Financial       Secured NCD (NCD)  CARE           66965   Reaffirmed
Services Ltd                                             AAA/Stable
Mahindra And Mahindra Financial       Unsecured          CARE           10000   Reaffirmed
Services Ltd                          Non-Convertible    AAA/Stable
                                      Debenture (NCD)
Mahindra And Mahindra Financial       Subordinated Debt  CARE           10000   Reaffirmed
Services Ltd                          (Public Issue)     AAA/Stable
Mahindra And Mahindra Financial       Subordinated Debt  CARE           6000    Reaffirmed
Services Ltd                          (Privately Placed) AAA/Stable
Mahindra And Mahindra Financial       Public Issue of LT CARE           100000  Reaffirmed
Services Ltd                          Debt               AAA/Stable
                                      Program(Non-ConvertibleDebentures/Subordinated Debt)
Mahindra Rural Housing Finance Ltd    Issuer Rating^     CARE AA+       -       Reaffirmed
^The rating is subject to the company maintaining overall gearing not exceeding 10 times.
Mahindra Rural Housing Finance Ltd    Subordinated Debt  CARE           3000    -
                                                         AA+/Stable
Mahindra Rural Housing Finance Ltd    NCD                CARE           1750    -
                                                         AA+/Stable
Manaksia Aluminium Co. Ltd            LT Bk Fac (TL)     CARE BBB,      150     Reaffirmed
                                                         Stable
Manaksia Aluminium Co. Ltd            LT Bk Fac (Fund    CARE BBB,      450     Reaffirmed
                                      Based)             Stable
Mohib Shoes Pvt Ltd                   LT BkFac           CARE           4.5     Assigned
                                                         BBB/Stable
Molagavalli Renewable Pvt Ltd         NCD issue@         CARE A+        3081    Revised from
                                                                                CARE A+
Under credit watch with developing implications,@ backed by credit enhancement in the form of:
a. Unconditional and irrevocable promoter guarantee by Renew Power Limited (RPL, rated CARE A+;
Stable/CARE A1+) for 30% of outstanding principal amount and available throughout the tenure of
the NCDs and structured payment mechanism.
b. Unconditional and irrevocable co-obligor guarantee to the NCDs issued by each of the other
Issuers (Renew Wind Energy (Rajasthan One) Private Limited and Narmada Wind Energy Private
Limited) within the Restricted Group.Further all associates have unconditionally and irrevocably
guaranteed their respective Issuers. 
Narmada Wind Energy Pvt Ltd           NCD issue@         CARE A+        5409.6  Revised from
                                                                                CARE A+
Under credit watch with developing implications,@ backed by credit enhancement in the form of:
a. Unconditional and irrevocable promoter guarantee by Renew Power Limited (RPL, rated CARE A+;
Stable/CARE A1+) for 30% of outstanding principal amount and available throughout the tenure of
the NCDs and structured payment mechanism.
b. Unconditional and irrevocable co-obligor guarantee to the NCDs issued by each of the other
Issuers (Renew Wind Energy (Rajasthan One) Private Limited and Molagavalli Renewable Private
Limited within the Restricted Group. Further all associates have unconditionally and irrevocably
guaranteed their respective Issuers 
Natsteel Asia Pte Ltd                 LT BkFac           CARE AA-       113890  Reaffirmed
(reduced from Rs. 13,400.03 crore)
Navayuga Engineering Co. Ltd          LT Bk Fac          CARE           27439.4 Revised from
                                                         A-/Negative            CARE A
(reduced from 2936.57)
Navayuga Engineering Co. Ltd          LT/STBk Fac        CARE           67856.3 Revised from
                                                         A-/Negative/A2+        CARE A
(enhanced from 6593.00)
New Era Enviro Ventures (Mahbubnagar) NCD issue – Series CARE A+        327.3   -
Pvt Ltd                               A
Placed on credit watch with negative implications
New Era Enviro Ventures (Mahbubnagar) NCD issue – Series CARE A+        149.6   -
Pvt Ltd                               B
Placed on credit watch with negative implications
Ok Enterprise                         LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE B+
(Issuer not cooperating)
Ostro Anantapur Pvt Ltd               LT BkFac – TermLoanCARE A-        5495.8  Revised from
                                                                                CARE A-
(Credit watch with developing implications)
Ostro Anantapur Pvt Ltd               LT BkFac –         CARE A-        436     Revised from
                                      CashCredit                                CARE A-
(Credit watch with developing implications)
Ostro Andhra Wind Pvt Ltd             LT BkFac (TermLoan)CARE BBB-      5659.8  Revised from
                                                                                CARE BBB
(Credit watch with developing implications)
Ostro Ap Wind Pvt Ltd                 LT BkFac (TermLoan)CARE BBB-      5847.4  Revised from
                                                                                CARE BBB
(Credit watch with developing implications)
Ostro Jaisalmer Pvt Ltd               LT BkFac –TermLoan -              -       Revised to
                                                                                CARE BBB
(Issuer not cooperating),(Credit watch
with developing implications)
Ostro Jaisalmer Pvt Ltd               LT BkFac – TermLoanCARE A-        2698.8  Revised from
                                                                                CARE A-
(Credit watch with developing implications)
Ostro Jaisalmer Pvt Ltd               LT BkFac –         CARE A-        -       Revised from
                                      CashCredit                                CARE A-
(Credit watch
with developing implications)
Ostro Madhya Wind Pvt Ltd             LT BkFac –TL       -              -       Revised to
                                                                                CARE BBB+
(Issuer not cooperating),(Credit watch
with developing implications)
Ostro Madhya Wind Pvt Ltd             LT BkFac – TermLoanCARE A-        4779.8  Revised from
                                                                                CARE A-
(Credit watch with developing implications)
Ostro Madhya Wind Pvt Ltd             LT BkFac –         CARE A-        559     Revised from
                                      CashCredit                                CARE A-
(Credit watch with developing implications)
Ostro Urja Wind Pvt Ltd               LT BkFac – TermLoanCARE A-        3645.5  Revised from
                                                                                CARE A-
(Credit watch
with developing implications)
Ostro Urja Wind Pvt Ltd               LT BkFac –         CARE A-        402     Revised from
                                      CashCredit                                CARE A-
(Credit watch with developing implications)
Pennar Renewables Pvt Ltd             NCD issue – Series CARE A+        897.1   -
                                      A
Placed on credit watch with negative implications
Pennar Renewables Pvt Ltd             NCD issue – Series CARE A+        355.1   -
                                      B
Placed on credit watch with negative implications
Polysil Pipes                         LT/ST BkFac        CARE           300     Reaffirmed
                                                         A+/Stable/A1
Prathamesh Solarfarms Ltd             LT BkFac – TermLoanCARE A-        2711.7  Revised from
                                                                                CARE A-
Credit watch
with developing implications
Prathamesh Solarfarms Ltd             LT BkFac –         CARE A-        119     Revised from
                                      CashCredit                                CARE A-
Credit watch
with developing implications
Premier Photovoltaic (Medak) Pvt Ltd  NCD issue – Series CARE A+        1299.7  -
                                      A
Placed on credit watch with negative implications
Premier Photovoltaic (Medak) Pvt Ltd  NCD issue – Series CARE A+        523.6   -
                                      B
Placed on credit watch with negative implications
Premium Lifestyle And Fashion India PvLT Bk Fac          CARE           622.4   Reaffirmed
Ltd                                                      BB+/Positive
(enhanced form 43.00)
Ra Chem Pharma Ltd                    LT BkFac@          CARE A+        1246.3  -
(Issuer not cooperating),@ backed by the unconditional and irrevocable corporate guarantee
provided by Micro Labs Limited (MLL).
Radharani Himghar Pvt Ltd             LT Bk Fac          CARE B+/Stable 76.3    Reaffirmed
Renew Vayu Urja Pvt Ltd               LT Instrument– NCD CARE BBB       8040    Revised from
                                                                                CARE BBB+
Under credit watch with developingImplications
Renew Wind Energy (Rajasthan One) Pvt NCD issue@         CARE A+        5519.3  Revised from
Ltd                                                                             CARE A+
Under credit watch with developing implications,@ backed by credit enhancement in the form of:
a. Unconditional and irrevocable promoter guarantee by Renew Power Limited (RPL, rated CARE A+;
Stable/CARE A1+) for 30% of outstanding principal amount and available throughout the tenure of
the NCDs and structured payment mechanism.
b. Unconditional and irrevocable co-obligor guarantee to the NCDs issued by each of the other
Issuers Molagavalli Renewable Private Limited and Narmada Wind Energy Private Limited) within
the Restricted Group. Further all associates have unconditionally and irrevocably guaranteed
their respective Issuers 
Resin Agency Llp                      LT – Non-FBL       CARE           260     Reaffirmed
                                                         A+/Stable
Rsg Exports Pvt Ltd                   LT Bk Fac          CARE           319.4   -
                                                         BB/Stable
(Issuer not cooperating)
S. G. Sales Corporation               LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BB-
Sai Venkat Vishnu Hotels Pvt Ltd      LT Bk Fac          CARE BB/Stable 80.2    Reaffirmed
(Reduced from Rs 9.53 crore)
Sandla Wind Project Pvt Ltd           LT Bk FacTL        -              -       Withdrawn
Sandla Wind Project Pvt Ltd           LT Bk FacWorking   CARE BBB       170     Revised from
                                      capital Limits                            CARE BBB+
(Under Credit watch with Developing Implications)
Sandla Wind Project Pvt Ltd           LT Bk              CARE BBB-      371     Revised from
                                      FacSubordinated Bk                        CARE BBB
                                      Loan
(Under Credit watch with Developing Implications)
Sei Arushi Pvt Ltd                    LT Bk Fac          CARE A+        1236.8  -
Placed on credit watch with negative implications,(reduced from 127.32)
Sei Green Flash Pvt Ltd               LT Bk Fac          CARE A+        1340.5  -
Placed on credit watch with negative implications,(reduced from 137.73)
Sembcorp Energy India Ltd             LT BkFac           CARE           79435.7 Reaffirmed
                                                         AA-/Stable
Shoppers Stop Ltd                     LT Bk Fac (TL)     CARE AA-/Stable200     Reaffirmed
Shoppers Stop Ltd                     LT Bk Fac (Fund    CARE AA-/Stable1490    Reaffirmed
                                      Based)
Shree Bharat Motors Ltd               LT Bk Fac          CARE           485.9   Reaffirmed
                                                         BB+/Stable
(reduced from 57.96)
Shree Enterprises                     LT Bk Fac          CARE BB- Stable50      -
(Issuer not cooperating)
Shri Sankalp Medical And Research     LT Bk Fac          -              -       Revised from
Institute Pvt Ltd                                                               CARE BB-
subsequently Withdrawn
Skeiron Renewable Energy Amidyala Ltd LT Bk FacSenior    CARE BBB-      10844.6 Revised from
                                      Debt                                      CARE BBB
Skeiron Renewable Energy Amidyala Ltd LT Bk Fac-Sub Debt CARE BBB-      1726.7  Revised from
                                                                                CARE BBB
Skeiron Renewable Energy Amidyala Ltd LT Bk Fac          CARE BBB-      122     Revised from
                                                                                CARE BBB
Sree Lakshmi Gayatri Hospitals Pvt LtdLT Bk Fac          CARE D         1600    Revised from
                                                                                CARE BB
Stamlo Industries Ltd                 LT Bk Fac          CARE           40      Revised from
                                                         BBB+/Stable            CARE A-
Stamlo Industries Ltd                 LT Bk Fac/ ST Bk   CARE           85      Revised from
                                      Fac                BBB+/Stable/A2+        CARE A-
Suam Overseas Pvt Ltd                 LT Bk Fac          CARE           295     Reaffirmed
                                                         BBB/Stable
Suam Overseas Pvt Ltd                 LT/ST Bk Fac       CARE           310     Reaffirmed
                                                         BBB/Stable/A3+
Sunalco Alloys Pvt Ltd                LT / Shortterm Bk  CARE           1350    Reaffirmed
                                      Fac                BBB-/Stable /A3
Tufropes Pvt Ltd                      LT/ST – Fund       CARE           500     Reaffirmed
                                      based/NonFBL       AA-/Stable/A1+
Upper India Steel Manufacturing &     LT Bk Fac          CARE D         447     -
Engineering Co. Ltd
Issuer not cooperating on the basis of best available information available information
Uttarayan Foods Pvt Ltd               LT Bk Fac          CARE B/Stable  48.6    -
Issuer not cooperating on the basis of best
available information
Veera Associates                      LT BkFac           CARE BB/Stable 70      -
Issuer not cooperating on the basis of best available information
Veera Associates                      LT/STBk Fac        CARE           55      -
                                                         BB/Stable/A4
Issuer not cooperating on the basis of best available information
Venkateshwara Hatcheries Pvt Ltd      LT BkFac           CARE A/Stable  7180.5  Revised from
                                                                                CARE A-
(Enhanced from 545.27)
Venkateshwara Hatcheries Pvt Ltd      LT/Shortterm BkFac CARE           1730.8  Revised from
                                                         A/Stable/A1            CARE A-
(reduced from 234.61)
Venky’S India Ltd                     LT Bk Fac          CARE A/Stable  652     Revised from
                                                                                CARE A-
(reduced from 235.35)
Venky’S India Ltd                     LT/STBk Fac        CARE           2800    Revised from
                                                         A/Stable/A1            CARE A-
(reduced from 305.00)
Vkt Pharma Pvt Ltd                    LT Bk Fac          CARE           850.4   Reaffirmed
                                                         BBB-/Stable
(reduced from 90.00)
Waaneep Solar Pvt Ltd                 LT BkFac           CARE A-        3083.5  -
Revised from credit watch with developing implications ,(reduced from 331.17)
--------------------------------------------------------------------------------------------
$: 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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