June 30, 2020 / 6:05 AM / 14 days ago

CARE ratings for Indian debt instruments-Jun 30

    Jun 30  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of June 29, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
A.K. Builders- Delhi                 ST BkFac          CARE A4;      65     -
(Issuer not cooperating; based on best available information)
Alamelu Balaji Spinning Mills Pvt    ST Bk Fac         CARE A4       4      Assigned
Ltd
Berk Auto Ltd Liability Partnership  ST Bk Fac         CARE A4;      305    -

(Issuer not cooperating; based on best available information)
Bravo Sponge Iron Pvt Ltd            ST BkFac          CARE A4+;     100    -
(Issuer not cooperating; based on best available information)
Continental Telepower Industries Ltd ST Bk Fac         CARE A4       25     Assigned
Hema Dyechem Pvt Ltd                 ST Bk Fac         CARE A4;      22     Revised from
                                                                            CARE A4+
(Issuer not cooperating; on the basis of best available information)
Mangaldeep Superstructures Pvt Ltd   ST Bk Fac         CARE A4;      35     -
(Issuer not cooperating; based on best available information)
Punjab State Power Corporation Ltd   ST Bk FacTL       CARE A4+      833.3  Reaffirmed
Punjab State Power Corporation Ltd   ST Bk Fac- Non    CARE A4+      12695  Reaffirmed
                                     fund based
(enhanced from 1,186.17 Crore)
Raja Motors Sirsa                    ST Bk Fac         CARE A4;      2
(Issuer not cooperating; based on best available information)
Rashmi Cement Ltd                    ST Bk Fac         CARE A4+;     850    Revised from
                                                                            CARE A2
(Issuer not cooperating; on the basis of best available information)
Rashmi Metaliks Ltd                  ST BkFac          CARE A4+;     1700   Revised from
                                                                            CARE A2
(Issuer not cooperating; on the basis of best available information)
Kaytx Industries Pvt Ltd             ST Bk Fac         CARE D;       150    -
(Issuer not cooperating; based on best available information)
Paras Bhavani Steel Pvt Ltd          ST Bk Fac         CARE D;       220
(Issuer not cooperating; based on best available information)
R. P. Steel Industries               ST Bk Fac         CARE D;       100
(Issuer not cooperating; based on best available information)
Sahara Hospitality Ltd               ST Bk FacNon Fund CARE D;       200
                                     Based
(Issuer not cooperating; based on best available information)
Sanghvi Forging & Engineering Ltd    ST Bk Fac         CARE D;       10.5
(Issuer not cooperating; based on best available information)
Shiv Gorakh Timber Pvt Ltd           ST Bk Fac         CARE D;       100
(Issuer not cooperating; based on best available information)
Shree Ginger Enterprises Ltd         ST Bk Fac         CARE D;       270
(Issuer not cooperating; based on best available information)

LONG TERM RATINGS:
-------------------
A.K. Builders- Delhi                 LT BkFac          CARE B+;      9      Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Alamelu Balaji Spinning Mills Pvt LtdLT Bk Fac         CARE B-;      164.3  Assigned
                                                       Stable
Apex Heights Pvt Ltd                 LT Bk Fac         CARE BBB-;    627.5  Assigned
                                                       Stable
Berk Auto Ltd Liability Partnership  LT Bk Fac         CARE B;       84.3   Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Bravo Sponge Iron Pvt Ltd            LT BkFac          CARE BB+;     1125   -
                                                       Stable;
(Issuer not cooperating; based on best available information)
Continental Telepower Industries Ltd LT Bk Fac         CARE BB;      4      Assigned
                                                       Stable
Continental Telepower Industries Ltd LT/ST BkFac       CARE BB;      40     Assigned
                                                       Stable/CARE A4
Hema Dyechem Pvt Ltd                 LT/ST Bk Fac      CARE BB/CARE  145    Revised from
                                                       A4;                  CARE BB+ /
                                                                            CARE A4+
(Issuer not cooperating; on the basis of best available information)
Jaimal Singh Satnam Singh            LT Bk Fac         CARE B-;      57.5   Revised from
                                                       Stable;              CARE B; Stable
(Issuer not cooperating; on the basis of best available information)
Jyoti Chandrashekhar Bawankule       LT BkFac          CARE D        69.7   Revised from
                                                                            CARE BB-;
                                                                            Stable
Kaytx Industries Pvt Ltd             LT Bk Fac         CARE D;       400    -
(Issuer not cooperating; based on best available information)
Kilburn Chemicals Ltd                LT Bk Fac         CARE D        2060   -
(Issuer not cooperating; based on best available information)
Mangaldeep Superstructures Pvt Ltd   LT Bk Fac         CARE B-;      62.5   Revised from
                                                       Stable;              CARE B; Stable
(Issuer not cooperating; on the basis of best available information)
Metro Ceramics                       Long- Term BkFac  CARE B+; Stabl56.4   Revised from
                                                                            CARE BB;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Metroworld Tiles Pvt Ltd             Long- Term BkFac  CARE B; Stable95.4   Revised from
                                                                            CARE BB;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Monalisa Ceramics India Pvt Ltd      LT Bk Fac         CARE C;       150    Revised from
                                                                            CARE B+
(Issuer not cooperating; on the basis of best available information)
Paras Bhavani Steel Pvt Ltd          LT Bk Fac         CARE D;       502.4
(Issuer not cooperating; based on best available information)
Patna Sahib Charitable Educational   LT Bk Fac         CARE D;       217.5
Trust
(Issuer not cooperating; based on best available information)
Precision Bearings Pvt Ltd           LT/ ST Bk Fac     CARE B+;      200    Revised from
                                                       Stable /CARE         CARE BB- /
                                                       A4;                  CARE A4
(Issuer not cooperating; on the basis of best available information)
Punjab State Power Corporation Ltd   LT Bk Fac- TL     CARE BB+;     44470.2Reaffirmed
                                                       Stable
(enhanced from 3,416.63 Crore)
Punjab State Power Corporation Ltd   LT Bk Fac- Fund   CARE BB+;     14600  Reaffirmed
                                     based             Stable
(enhanced from 860.00 Crore)
R. P. Steel Industries               LT Bk Fac         CARE D;       70
(Issuer not cooperating; based on best available information)
Rahil Cold Storage Llp               LT BkFac          CARE C;       32.5
(Issuer not cooperating; based on best available information)
Raja Motors Bathinda                 LT Bk Fac         CARE B-;      86.3   Revised from
                                                       Stable;              CARE B; Stable
(Issuer not cooperating; on the basis of best available information)
Raja Motors Sirsa                    LT Bk Fac         CARE B-;      75     Revised from
                                                       Stable;              CARE B; Stable
(Issuer not cooperating; on the basis of best available information)
Rashmi Cement Ltd                    LT Bk Fac         CARE BB+;     300    Revised from
                                                       Stable;              CARE BBB+;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Rashmi Metaliks Ltd                  LT BkFac          CARE BB+;     600    Revised from
                                                       Stable;              CARE BBB+;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Recmet Alloys Pvt Ltd                LT Bk Fac         CARE C;       99.5   Revised from
                                                                            CARE B-
(Issuer not cooperating; on the basis of best available information)
Renu Infrastructure Pvt Ltd          LT Bk Fac         CARE B- ;     5      Revised from
                                                       Stable;              CARE B+ ;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Renu Infrastructure Pvt Ltd          LT Bk Fac/Short   CARE          80     Revised from
                                     –term Bk Fac      B-;Stable/CARE       CARE B+ ;
                                                       A4                   Stable/ CARE A4
(Issuer not cooperating; on the basis of best available information)
Sahara Hospitality Ltd               LT Bk FacTL       CARE D;       4860.7
(Issuer not cooperating; based on best available information)
Sahara Hospitality Ltd               LT Bk FacCC       CARE D;       206.7
(Issuer not cooperating; based on best available information)
Sanghvi Forging & Engineering Ltd    LT/ST Bk Fac      CARE D /CARE  320
                                                       D;
(Issuer not cooperating; based on best available information)
Sanghvi Forging & Engineering Ltd    LT Bk Fac         CARE D;       1234.9
(Issuer not cooperating; based on best available information)
Saturn Rings & Forgings Pvt Ltd      LT Bk Fac         CARE D;       400
(Issuer not cooperating; based on best available information)
Shiv Gorakh Timber Pvt Ltd           LT Bk Fac         CARE D;       12.5
(Issuer not cooperating; based on best available information)
Shree Ginger Enterprises Ltd         LT Bk Fac         CARE D;       345
(Issuer not cooperating; based on best available information)
Tata Cleantech Capital Ltd.          Subordinated debt CARE AAA;     5000   Assigned
                                     (Proposed)        Stable
Tata Cleantech Capital Ltd.          NCDd (Proposed)   CARE AAA;     2500   Assigned
                                                       Stable
Textrade International Ltd           Bk Fac-FB - LT/   CARE D/CARE D;1200   -
                                     ST-EPC/PSC
(Issuer not cooperating; based on best available information)
Textrade International Ltd           Bk Fac-Non-FB -   CARE D;       550    -
                                     ST- LC/BG
(Issuer not cooperating; based on best available information)
The Madras Silks India Pvt Ltd       LT/STBk Fac       CARE BB+;     3520   Revised from
                                                       Negative/CARE        CARE
                                                       A4+;                 BBB-;Negative/ 
                                                                            CARE A3
(Issuer not cooperating; on the basis of best available information)
The Madras Silks India Pvt Ltd       LT Bk Fac         CARE BB+;     1970   Revised from
                                                       Negative;            CARE
                                                                            BBB-;Negative
(Issuer not cooperating; on the basis of best available information)
Trancity Finance Ltd                 Fixed Deposit     CARE B(FD);   14.7   -
                                                       Stable
(Issuer not cooperating; based on best available information)
United Metalik Pvt Ltd               LT BkFac          CARE B+;      150    Revised from
                                                       Stable;              CARE BB;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Utopian Sugars Ltd                   LT Bk Fac         CARE D;       1360
(Issuer not cooperating; based on best available information)
Vanchinad Finance Pvt Ltd            LT BkFac          CARE BB;      150
                                                       Stable;
(Issuer not cooperating; based on best available information)
Yours Projects Pvt Ltd               LT Bk Fac         CARE B+;      150    Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable
(Issuer not cooperating; on the basis of 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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