July 3, 2020 / 8:42 AM / a month ago

CARE ratings for Indian debt instruments-Jul 3

    Jul 3  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local
debt instruments as of July 2, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Centuary Fibre Plates Pvt Ltd        ST Bk Fac         CARE A4+;     11     Revised from
                                                                            CARE A3+
(Issuer not cooperating; on the basis of best available information)
City Lifeline Travels Pvt Ltd        ST BkFac          CARE A3       200    Revised from
                                                                            CARE A4+
(Issuer not cooperating)(enhanced fromRs. 10.00 crore Crore)
Davangere Sugar Co. Ltd              ST BkFac (Non FundCARE A4       132.2  Revised from
                                     Based)                                 CARE A4;
(Issuer not cooperating)
Idbi Capital Markets And Securities LST Bk Fac         CARE A1       500    Assigned
                                     (Non-fund based)
Jai Jalpesh Flour Mills Pvt Ltd      ST BkFac          CARE A4       5      Reaffirmed
Karam Steel Corporation              ST Bk Fac         CARE A4;      50
(Issuer not cooperating; based on best available information)
Lic Mutual Fund Asset Management Ltd LIC MF Overnight  CARE A1+mfs   -      Reaffirmed
                                     Fund Open Ended
                                     Debt Scheme
Lisie Medical Institutions           ST BkFac          CARE A4+;     50     Revised from
                                                                            CARE A2;
(Issuer not cooperating; based on best available information)
Metrro Waste Handling Pvt Ltd        ST BkFac          CARE A3+      150    Revised from
                                                                            CARE A4+
(Issuer not cooperating;)
Ponni Sugars (Erode) Ltd             ST Bk Fac         CARE A2       10     Revised from
                                     (Non-Fund Based)                       CARE A3+
Shree Malani Foams Pvt Ltd           ST Bk Fac         CARE A4+;     12.5   Revised
                                                                            fromCARE A3+
(Issuer not cooperating; on the basis of best available information)
Shreegopal Govind Sponge Pvt Ltd     ST Bk Fac         CARE A4       3.5    Assigned
Steel Works And Power Engineers Pvt  ST Bk Fac         CARE A4       133    Reaffirmed
Ltd
Trac Fujico Air Systems Llp          ST Bk Fac         CARE A4       100    Reaffirmed
Gem Granites                         ST Bk Fac         CARE D;       771.6
(Issuer not cooperating; based on best available information)
Datta Agro Services Pvt Ltd          ST Bk Fac         CARE D;       250
(Issuer not cooperating; based on best available information)
Garg Casteels Pvt Ltd                ST BkFac          -             -      Reaffirmed at
                                                                            CARE A4; and
                                                                            Withdrawn
(Issuer not cooperating)
Yerik International                  ST Bk Fac         CARE A3       5      Reaffirmed
Raghuvir Oil Mill                    ST Bk Fac         CARE D;       89.5
(Issuer not cooperating; based on best available information)
Ranchhod Oil Mill Company            ST Bk Fac         CARE D;       4
(Issuer not cooperating; based on best available information)
Sarvottam Atta Pvt Ltd               ST Bk Fac         CARE D;       20
(Issuer not cooperating; based on best available information)
Zenith Metaplast Pvt Ltd             ST Bk Fac         CARE A4       215    Reaffirmed
(enhanced from Rs. 18.00 crores Crore)

LONG TERM RATINGS:
-------------------
Axis Asset Management Co. Ltd        Axis Liquid Fund  CARE AAAmfs   -      Reaffirmed
                                     Open Ended Debt
                                     Scheme
Ayush Food Product Pvt Ltd           LT Bk Fac         CARE D        99.7   Revised from
                                                                            CARE B+;
                                                                            Stable;
(Issuer not cooperating)
Centuary Fibre Plates Pvt Ltd        LT Bk Fac         CARE BB+;     115    Revised from
                                                                            CARE BBB
(Issuer not cooperating; on the basis of best available information)
City Lifeline Travels Pvt Ltd        LT BkFac          CARE BBB-;    50     Revised from
                                                       Stable               CARE BB+;
                                                                            Stable
(Issuer not cooperating)
Datta Agro Services Pvt Ltd          LT Bk Fac         CARE D;       300.9
(Issuer not cooperating; based on best available information)
Davangere Sugar Co. Ltd              LT Bk Fac – TL    CARE B; Stable77     Revised from
                                                                            CARE D
(Issuer not cooperating)
Davangere Sugar Co. Ltd              LT Bk Fac (Fund   CARE B; Stable990    Revised from
                                     Based)                                 CARE C; Stable
(Issuer not cooperating)
Garg Casteels Pvt Ltd                LT BkFac          -             -      Reaffirmed at
                                                                            CARE B;
                                                                            Stable: and
                                                                            Withdrawn
(Issuer not cooperating)
Garg Casteels Pvt Ltd                LT/STBk Fac       -             -      Reaffirmed at
                                                                            CARE B;
                                                                            Stable/ CARE A4: and
                                                                            Withdrawn
(Issuer not cooperating)
Gem Granites                         LT Bk Fac         CARE D;       580.2
(Issuer not cooperating; based on best available information)
Gem Granites                         LT/ST Bk Fac      CARE D;       193.3
(Issuer not cooperating; based on best available information)
Jai Jalpesh Flour Mills Pvt Ltd      LT BkFac          CARE B+;      65.4   Reaffirmed
                                                       Stable
(reduced from 7.78 Crore)
Jitendra Dal Mill                    LT Bk Fac         -             -      Revised to
                                                                            CARE B-;
                                                                            Stable;from CARE B;
                                                                            Stable and Withdrawn
(Issuer not cooperating; based on best available information)
Jitendra Udhyog                      Long/ ST BkFac    -             -      Revised to
                                                                            CARE B-;
                                                                            Stable/CARE A4; from
                                                                            CARE B; Stable/ 
                                                                            CARE A4 
                                                                            and Withdrawn
(Issuer not cooperating; based on best available information)
Karam Steel Corporation              LT Bk Fac         CARE B+;      120    Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Kas Industries India Pvt Ltd         LT Bk Fac         CARE BB+;     607.6  Revised from
                                                       Stable;              CARE BBB-;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Kittur Rani Channamma Memorial       Long -term BkFac  CARE BB+;     150    Assigned
Committee                                              Stable
Kropex India Pvt Ltd                 LT Bk Fac         CARE BB-;     145.3  Reaffirmed
                                                       Stable
(reduced from Rs.15.00 Crore)
Lic Mutual Fund Asset Management Ltd LIC MF Bking and  CARE AAAmfs   -      Reaffirmed
                                     PSU Debt Fund Open
                                     Ended Debt Scheme
Lic Mutual Fund Asset Management Ltd LIC MF Savings    CARE AAAmfs   -      Reaffirmed
                                     Fund Open Ended
                                     Low Duration Debt Scheme
Lic Mutual Fund Asset Management Ltd LIC MF Ultra ST   CARE AAAmfs   -      Reaffirmed
                                     Fund Open Ended
                                     Ultra ST Debt Scheme
Lisie Medical Institutions           LT BkFac          CARE BB+;     450    Revised from
                                                       Stable;              CARE BBB+;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Mahaveer Finance India Ltd           Proposed NCD issueCARE BBB-;    600    Assigned
                                                       Negative
Metrro Waste Handling Pvt Ltd        LT BkFac-TL       -             -      Withdrawn
Metrro Waste Handling Pvt Ltd        LT BkFac          CARE BBB;     100    Revised from
                                                       Stable               CARE BB+;
                                                                            Stable
(Issuer not cooperating;)
Metrro Waste Handling Pvt Ltd        LT/Shortterm BkFacCARE BBB;     100    Revised from
                                                       Stable/CARE A3+      CARE BB+;
                                                                            Stable/ CARE A4+
(Issuer not cooperating;)
Namdev Finvest Pvt Ltd               LT BkFac          CARE BBB-;    2500   Reaffirmed
                                                       Stable
(enhanced from 105 Crore)
Ponni Sugars (Erode) Ltd             LT Bk Fac –TL     -             -      Withdrawn*
*based on written communication from the Bank that term loan has been fully repaid and there is
no outstanding liability
Ponni Sugars (Erode) Ltd             LT Bk Fac – Fund  CARE BBB+;    400    Revised from
                                     Based working     Stable               CARE
                                     capital Fac                            BBB;Negative
Ponni Sugars (Erode) Ltd             Long- term/ST FundCARE BBB+;    100    Revised from
                                     Based/NonFund     Stable/CARE A2       CARE
                                     based Bk Fac                          BBB;Negative/CARE A3+
Prefect Packaging Pvt Ltd            LT Bk Fac         CARE BB-;     105.9  Reaffirmed
                                                       Stable
Raghuram Hume Pipes Pvt Ltd          LT Bk Fac         CARE BB;      160    Assigned
                                                       Stable
Raghuram Hume Pipes Pvt Ltd          LT/ST BkFac       CARE BB;      130    Assigned
                                                       Stable/CARE A4
Raghuvir Oil Mill                    LT Bk Fac         CARE D;       10
(Issuer not cooperating; based on best available information)
Ranchhod Oil Mill Company            LT Bk Fac         CARE D;       95
(Issuer not cooperating; based on best available information)
S.M.I.L.E. Microfinance Ltd          NCD (Proposed)    CARE BBB;     250    Assigned
                                                       Negative
Sarvottam Atta Pvt Ltd               LT Bk Fac         CARE D;       180
(Issuer not cooperating; based on best available information)
Sarvottam Vegetable Oil Refinery Pvt LT Bk Fac         CARE D;       102.4
(Issuer not cooperating; based on best available information)
Shree Malani Foams Pvt Ltd           LT Bk Fac         CARE BB+;     132.5  Revised from
                                                                            CARE BBB
(Issuer not cooperating; on the basis of best available information)
Shreegopal Govind Sponge Pvt Ltd     LT Bk Fac         CARE BB;      116.5  Assigned
                                                       Stable
Siddharth Agro Industries – Mp       Long/ ST Bk Fac   -             -      Revised to
                                                                            CARE B-;
                                                                            Stable/CARE A4 from
                                                                            CARE B; Stable/ 
                                                                            CARE A4 and
                                                                            Withdrawn
(Issuer not cooperating; based on best available information)
Spgv Petrochem (India) Pvt Ltd       LT/ ST Bk Fac     CARE D/CARE D 248
(Issuer not cooperating; based on best available information)
Steel Works And Power Engineers Pvt  LT Bk Fac         CARE BB;      83.6   Reaffirmed
Ltd                                                    Stable
Sterling Gated Community Pvt Ltd     NCD issue         CARE D        600    Revised from
                                                                            CARE B; Stable
Subhash Chandra Singh                LT Bk Fac         CARE B+;      47.5   Assigned
                                                       Stable
Subhash Chandra Singh                Long/ST BkFac     CARE B+;      30     Assigned
                                                       Stable/CARE A4
Uday Autolink Pvt Ltd                LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE D and
                                                                            Withdrawn
(Issuer not cooperating)
Yerik International                  LT Bk Fac         CARE BBB-;    22     Assigned
                                                       Stable
Yerik International                  LT/ST Bk Fac      CARE BBB-;    250    Reaffirmed
                                                       Stable/CARE A3
(enhanced from 24.50 Crore)
Zenith Metaplast Pvt Ltd             LT Bk Fac^        -             -      Withdrawn
^rating is withdrawn based on No Dues Certificate from the bank
Zenith Metaplast Pvt Ltd             LT Bk Fac         CARE BB;      875.7  Reaffirmed
                                                       Stable
(enhanced from Rs.41.00 crore Crore)
--------------------------------------------------------------------------------------------
$: 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@refinitiv.com)
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