June 17, 2020 / 6:01 AM / 23 days ago

CARE ratings for Indian debt instruments-Jun 17

    Jun 17  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of June 16, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Alankit Ltd                          ST Bk Fac-        CARE A3       100    -
                                     Non-Fund Based
(Placed on credit watch with Negative Implications )
Arvind Kumar Nand Kumar Ltd          ST Bk Fac         CARE A4;      5.1    -

(Issuer not cooperating; based on best available information)
D.M.P Nirman Pvt Ltd                 ST BkFac          CARE A4+      80     Revised from
                                                                            CARE A4
(Issuer not cooperating; based on best available information)
M.M. Patel Public Charitable Trust   ST Bk Fac         CARE A4       93.5   Reaffirmed
Mahajan Fabrics Pvt Ltd              ST Bk Fac         CARE A4;      40     -
(Issuer not cooperating; based on best available information)
R And T Business Syndicate           ST Bk Fac         CARE A4;      35
(Issuer not cooperating; based on best available information)
Radhamohan Builders Pvt Ltd          ST Bk Fac         CARE A4;      13.1
(Issuer not cooperating; based on best available information)
Rocks Forever                        ST Bk Fac         CARE A4       20
(Issuer not cooperating; based on best available information)
Sanhit Polymer                       ST Bk Fac         CARE A4;      15
(Issuer not cooperating; based on best available information)
Sanmar Matrix Metals Ltd             ST Bk Fac@        CARE A1 (CE)  100    Reaffirmed
@backed by unconditional and irrevocable corporate guarantee provided by Sanmar Engineering
Technologies Private Limited (SETL).
Shilpan Harishkumar Shah             ST Bk Fac         CARE A4;      40     -
(Issuer not cooperating; based on best available information)
Quadrant Televentures Ltd            ST Bk Fac         CARE D;       244    -
(Issuer not cooperating; based on best available information)
Nandan Buildcon Pvt Ltd              ST Bk Fac         CARE D;       250    -
(Issuer not cooperating; based on best available information)
Sopan Paper Mill Pvt Ltd             ST Bk Fac         CARE A4;      7.6    -
(Issuer not cooperating; based on best available information)
Vishal Paper Industries Pvt Ltd      ST Bk Fac         CARE A4;      10     -
(Issuer not cooperating; based on best available information)

LONG TERM RATINGS:
-------------------
Alankit Ltd                          LT Bk Fac FB      CARE BBB      60     -
(Placed on credit watch with Negative Implications )
Arpee Energy Minerals Pvt Ltd        LT Bk Fac         CARE B; Stable70     Revised From
                                                                            CARE B+;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Arvind Kumar Nand Kumar Ltd          LT Bk Fac         CARE B-;      54.9   Revised from
                                                       Stable;              CARE B; Stable
(Issuer not cooperating; based on best available information)
Assam Auto Agencies                  LT Bk Fac         -             -      Revised to
                                                                            CARE BB-;
                                                                            Stable from CARE BB;
Stable and withdrawn
(Issuer not cooperating; based on best available information)
Azure Power (Rajasthan) Pvt Ltd      LT Bk Fac         CARE A+;      490    Assigned
                                                       Stable
Bhandari Agrofeeds Pvt Ltd           LT BkFac          CARE B;       115    Revised from
                                                       Stable;              CARE B+;
                                                                            Stable;
(Issuer not cooperating; based on best available information)
Chetan Alloys Pvt Ltd                LT Bk Fac         CARE C:       100    Revised from
                                                                            CARE B-
(Issuer not cooperating; based on best available information)
D.M.P Nirman Pvt Ltd                 LT BkFac          CARE BB+;     80     Revised from
                                                       Stable               CARE BB;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Dev India Projects Pvt Ltd           LT BkFac          CARE B;       83.7   Revised from
                                                       Stable;              CARE B+;
                                                                            Stable;
(Issuer not cooperating; based on best available information)
Dr. M N Tandon Memorial Charitable   LT Bk Fac         CARE B;       42.6   Revised from
Trust                                                  Stable;              CARE B+;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Firefly Batteries Pvt Ltd            LT/ ST Bk Fac     CARE D/CARE D;87     -
(Issuer not cooperating; based on best available information)
Firefly Batteries Pvt Ltd            LT Bk Fac         CARE D;       230    -
(Issuer not cooperating; based on best available information)
Shinghal Agri Industries Pvt Ltd     LT Bk Fac         CARE A4;      10     -
(Issuer not cooperating; based on best available information)
G. V. Sutaria Construction           LT / ST Bk Fac    CARE BB-;     130    Revised from
                                                       Stable/CARE A4;      CARE BB;
                                                                            Stable /CARE A4
(Issuer not cooperating; based on best available information)
G. V. Sutaria Construction           LT BkFac          CARE BB-;     20     Revised from
                                                       Stable;              CARE BB;
                                                                            Stable
(Issuer not cooperating; based on best available information)
India Dairy Feeds Pvt Ltd            LT Bk Fac         CARE B;       150    Revised From
                                                       Stable;              CARE B+;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Indiabulls Real Estate Ltd           LT Bk Fac – BG    -             -      Withdrawn
Lucina Land Development Pvt. Ltd     LT - BkFac –TL*   CARE A (CE)   2000   Revised from
                                                                            CARE A+(CE)
(Under Credit watch with developing implications),*based on the credit enhancement in the form
of unconditional and irrevocable corporate guarantee issued by Indiabulls Real Estate Limited to
the lenders of the company for the repayment obligation on the said facility 
M.M. Patel Public Charitable Trust   LT Bk Fac         CARE BB;      749.2  Revised from
                                                       Stable               CARE B; Stable
Mahajan Fabrics Pvt Ltd              LT Bk Fac/ ST Bk  CARE B-;      2.1    Revised from
                                     Fac               Stable/CARE A4;      CARE B;
                                                                            Stable/ CARE A4
(Issuer not cooperating; based on best available information)
Mahajan Fabrics Pvt Ltd              LT Bk Fac         CARE B-;      124.6  Revised from
                                                       Stable;              CARE B; Stable
(Issuer not cooperating; based on best available information)
Manappuram Asset Finance Ltd         NCD (Proposed)    CARE BBB-;    500    Assigned
(placed on Credit Watch with Positive Implications)
Nandan Buildcon Pvt Ltd              LT Bk Fac         CARE D;       1037.6 -
(Issuer not cooperating; based on best available information)
Nspr Constructions India Pvt Ltd     LT Bk Fac         CARE BBB-;    85     Revised from
                                                       Stable;              CARE BBB;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Nspr Constructions India Pvt Ltd     LT/ST Bk Fac      CARE          415    Revised from
                                                       BBB-;Stable          CARE BBB;
                                                       /CARE A3;            Stable/ CARE A3+
(Issuer not cooperating; based on best available information)
Om Sai Hospitality                   LT Bk Fac         CARE D;       55.5   -
(Issuer not cooperating; based on best available information)
Quadrant Televentures Ltd            LT Bk Fac         CARE D;       172.2  -
(Issuer not cooperating; based on best available information)
R And T Business Syndicate           LT Bk Fac         CARE B-;      15     Revised from
                                                       Stable;              CARE B; Stable
(Issuer not cooperating; based on best available information)
Radhamohan Builders Pvt Ltd          LT Bk Fac         CARE BB-;     59.1   Revised from
                                                       Stable;              CARE BB;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Rocks Forever                        LT Bk Fac         -             0      Withdrawn*
*Repayment of entire long-term bank facilities
Sanhit Polymer                       LT Bk Fac         CARE B;       50     Revised From
                                                       Stable;              CARE B+;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Sankhya Financial Services Pvt Ltd   NCD               CARE A-,      1000   Assigned
                                                       Stable
Sanmar Matrix Metals Ltd             LT Bk Fac@        CARE A (CE);  1027.8 Reaffirmed
                                                       Stable
(Reduced from from 114.66 Crore),@backed by unconditional and irrevocable corporate guarantee
provided by Sanmar Engineering Technologies Private Limited (SETL).
Sanmar Matrix Metals Ltd             LT /ST Bk Fac@    CARE A (CE);  350    Reaffirmed
                                                       Stable/CARE A1
                                                       (CE)
@backed by unconditional and irrevocable corporate guarantee provided by Sanmar Engineering
Technologies Private Limited (SETL).
Scasa Nutrients Pvt Ltd              LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE BB-;
                                                                            Stable and withdrawn
Shilpan Harishkumar Shah             LT Bk Fac         CARE B;       41.6   Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Shinghal Agri Industries Pvt Ltd     LT Bk Fac         CARE B-;      117.7  -
                                                       Stable;
(Issuer not cooperating; based on best available information)
Shubh Rice Exports Pvt Ltd           LT Bk Fac         CARE B+;      120.4  Revised from
                                                       Stable               CARE BB-;
                                                                            Stable;
(Issuer not cooperating; based on best available information)
Sopan Paper Mill Pvt Ltd             LT/ ST Bk Fac     CARE B-/CARE  60     (Revised from
                                                       A4;                  CARE B+/ CARE
                                                                            A4
(Issuer not cooperating; based on best available information)
Sopan Paper Mill Pvt Ltd             LT Bk Fac         CARE B-;      69.7   Revised from
                                                                            CARE B+
(Issuer not cooperating; based on best available information)
Sylvanus Properties Ltd              LT Bk Fac – TL    -             -      Withdrawn
Tata Housing Development Co. Ltd     Proposed NCD issueCARE AA;      5000   Assigned
                                                       Stable
Tata Housing Development Co. Ltd     Proposed NCD issueCARE AA;      -      Reaffirmed
                                                       Stable
Tata Housing Development Co. Ltd     NCD issue         CARE AA;      12000  Reaffirmed
                                     (outstanding)     Stable
Veera Associates                     LT/ST Bk Fac      CARE B;       55     Revised from
                                                       Stable/CARE A4;      CARE BB;
                                                                            Stable/ CARE A4;
(Issuer not cooperating; based on best available information)
Veera Associates                     LT Bk Fac         CARE B;       70     Revised from
                                                       Stable;              CARE BB;
                                                                            Stable;
(Issuer not cooperating; based on best available information)
Vishal Paper Industries Pvt Ltd      LT Bk Fac         CARE B+;      170.6  Revised from
                                                       Stable               CARE BB-;
                                                                            Stable
(Issuer not cooperating; based on best available information)
--------------------------------------------------------------------------------------------
$: 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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