March 12, 2018 / 4:13 AM / 2 months ago

CARE ratings for Indian debt instruments-Mar 12

    Mar 12 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 9, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Arka Carbon Fuels Pvt Ltd             ST Bk Fac          CARE D         1200    -
Issuer Not Cooperating; Based on best available information
Ahitri Spinning Mills Pvt Ltd         ST Bk Fac          CARE A4        13.5    -
Issuer not co operating; Based on best available information
Anjani Food Products Pvt Ltd          ST Bk Fac          CARE A4        15      -
Issuer not cooperating; Based on best available information

Antique Textile Pvt Ltd               ST Bk Fac          CARE A4        2       Reaffirmed
Bravo Sponge Iron Pvt Ltd             ST Bk Fac          CARE A4+       100
Revised from CARE A4
Colourtex Industries Pvt Ltd          CP (Carved out of  CARE A1+       1000    Assigned
                                      Sanctioned fund
                                      based working capital limits)
Ctx Lifesciences Pvt Ltd              ST Bk Fac          CARE A1        215     Reaffirmed
Eon Kharadi Infrastructure Pvt Ltd    ST Bk Fac          CARE A1        300     Assigned
Guljag Industries Ltd                 ST Bk Fac          CARE A3        260     Assigned
Haresh Petrochem Pvt Ltd              ST Non-Fund        CARE A4        1000    Reaffirmed
                                      BasedBk Fac
Jayachandran Alloys Pvt Ltd           ST Bk Fac          CARE A4+       100     -
Issuer not cooperating; Based on best available information
Jpl Industries Ltd                    ST Bk Fac          CARE A4+       2       -
Issuer NotCooperating; Based on best available information
K. B. Ispat Pvt Ltd                   ST Bk Fac          CARE A4        112.6
Revised from A4+
Manidhari Gums And Chemicals          ST Fac             -              -       Withdrawn
Manglam Yarn Agencies                 ST Bk Fac          CARE A4+       13.2
Issuer not cooperating; Based on best available information
Patanjali Ayurved Ltd                 ST Bk Fac          CARE A1+       11900   Assigned
R.K Chavan Infrastructure Pvt Ltd     ST Bk Fac          CARE A4        26.3    -
Issuer Not Cooperating, based on best available information
Rexon Strips Ltd                      ST Bk Facility     CARE A4        20      -
Sahiba Ltd                            ST Bk Fac          CARE A2        300
Revised from CARE A3+ (enhanced from Rs.20 Crore)
Sanjay Construction Company           ST Bk Fac          CARE A4+       130     Assigned
Shakambhari Ispat And Power Ltd       ST Bk Fac          CARE A3        770     Reaffirmed
(enhanced from 72 Crore)
Shri Dhanalakshmi Spinntex Pvt Ltd    ST Bk Fac          CARE A4+       125     -
Issuer Not Cooperating;Based on Best Available Information
Suraksha Asset Reconstruction Pvt Ltd Proposed CP (CP)   CARE A1+ (SO)* 950
                                      issue - 1
Final Rating Assigned ;* backed by credit enhancement in the form of unconditional and
irrevocable corporate guarantee by Lakshdeep Investments and Finance
Suraksha Asset Reconstruction Pvt Ltd Proposed           CARE A1+       5050    Reaffirmed
                                      CommercialPaper    (SO)**
                                      (CP) issue
** to be backed by credit enhancement in the form of unconditional and irrevocable corporate
guarantee by Lakshdeep Investments and Finance Private Limited.
Swastik Coal Corporation Pvt Ltd      ST Bk Fac          CARE D         3200    -
Issuer Not Cooperating; Based on best available information
Tavasya Venture Partners Pvt Ltd      ST Bk Fac          CARE A4        40
Reaffirmed and removed from ISSUER NOT COOPERATING
Umasree Texplast Pvt Ltd              ST Bk Fac          CARE A3        12.7    Assigned


LONG TERM RATINGS:
-------------------
Ahitri Spinning Mills Pvt Ltd         LT Bk Fac          CARE B+        190     -
Issuer not co operating; Based on best available information
Anjani Food Products Pvt Ltd          LT Bk Fac          CARE BB-       110     -
Issuer not cooperating; Based on best available information
Antique Textile Pvt Ltd               LT Bk Fac          CARE BB-       213.8   Reaffirmed
(enhanced from 15.23 Crore)
Arka Carbon Fuels Pvt Ltd             LT Bk Fac          CARE D         100     -
Issuer Not Cooperating; Based on best available information
Atria Solar Power (Ryapte) Pvt Ltd    Proposed LT Bk     CARE BBB-      930     Assigned
                                      Fac@
@ The rating assigned to the company is provisional and will be confirmed on the transfer of
existing bank facilities from individual to the rated company f
Balaji Malts Pvt Ltd                  LT Bk Fac          CARE BBB-      120     Assigned
Belgravia Projects Pvt Ltd            LT Bk Fac          -              -       Withdrawn
Birbal Dass Ritesh Kumar              LT Bk Fac          CARE B-        210
Issuer not cooperating; Revised from CARE B
Bravo Sponge Iron Pvt Ltd             LT Bk Fac          CARE BB+       1125
Revised from CARE BB
Bsc-C&C Kurali Toll Road Ltd          LT Bk Fac          CARE D         1807.9  Reaffirmed
(reduced from 227.92 Crore)
Colourtex Industries Pvt Ltd          Long- Term BkFac   CARE AA-       284.2   Reaffirmed
Colourtex Industries Pvt Ltd          LT/ STBk Fac       CARE AA-/ A1+  4450    Reaffirmed
(enhanced from Rs.370.00 Crore)
Ctx Lifesciences Pvt Ltd              LT Bk Fac – TL #   -              -       Withdrawn
# The term loan has been repaid in full and there is no outstanding against it. Taking
cognizance of this fact along with receipt of ‘no due certificate’ from the bank, CARE has
withdrawn the long term rating assigned to these term loans of the company. 
Ctx Lifesciences Pvt Ltd              LT Bk Fac          CARE A         150     Reaffirmed
Durga Automart                        LT Bk Facility     CARE B+        100     Assigned
Eon Kharadi Infrastructure Pvt Ltd    LT Bk Fac          CARE A+        15700   Reaffirmed
(enhanced from 651.02 Crore)
E-Procurement Technologies Ltd        LT Bk Fac          CARE BBB+      20
Revised from CARE BBB
E-Procurement Technologies Ltd        LT/ ST Bk Fac      CARE BBB+/ A3+ 28
Long-term rating revised from CARE BBB (reduced from 5.00 Crore)
Gajanan Food Products                 LT Bk Fac          CARE B         49      Assigned
Gati Infrastructure Bhasmey Power Pvt LT Bk Fac          CARE D         2853.4  -
Ltd
Issuer not cooperating; Based on best available information
Gati Infrastructure Pvt Ltd           LT Bk Fac          CARE D         2292.3  -
Issuer not cooperating; Based on best available information
Graffiti (India) Pvt Ltd              LT Bk Fac          CARE D         120     -
Issuer Not Cooperating
Graffiti (India) Pvt Ltd              ST Bk Fac          CARE D         30      -
Issuer Not Cooperating
Guljag Industries Ltd                 LT Bk Fac          CARE BBB-      182.5   Assigned
Haresh Petrochem Pvt Ltd              LT Fund Based      CARE BB        100
                                      BkFac
Revised from CARE BB-
Inp Computer Technology Pvt Ltd       LT Bk Fac          CARE BB        55      Reaffirmed
Reaffirmed; Outlook revised from Stable to Negative
Jayachandran Alloys Pvt Ltd           LT Bk Fac          CARE BB+       181.7   -
Issuer not cooperating; Based on best available information
Jaypee Healthcare Ltd                 LT Bk Fac          CARE D         6500    Reaffirmed
(Enhanced from 450.00 Crore)
Jpl Industries Ltd                    LT Bk Fac          CARE BB+       86.1    -
Issuer NotCooperating; Based on best available information
K. B. Ispat Pvt Ltd                   LT Bk Fac          CARE BB-       211.3
Revised from CARE BB
K. B. Ispat Pvt Ltd                   LT Bk Fac/ ST Bk   CARE BB-/ A4   30
                                      Fac
Revised from CARE BB/ A4+
Kef Infrastructure India Pvt. Ltd.    LT Bk Fac          CARE BB+       2414.3
Revised from CARE BBB-
Kef Infrastructure India Pvt. Ltd.    LT / ST Bk Fac     CARE BB+/CARE  1400
                                                         A4+
Revised from CARE BBB- / CARE A3
Krantiagrani Dr G. D. Bapu Lad SahakarLT Bk Fac          CARE BB-       139.9
Sakahar Karkhana Ltd
“Issuer not cooperating”;Based on Best available Information
Mahaganpati Food And Agro Products PvtLT Bk Facility     CARE B+        65.2    -
Ltd
ISSUER NOT COOPERATING; Based on best available information
Manglam Yarn Agencies                 LT/ ST Bk Fac      CARE BB/ A4+   250
Issuer not cooperating; Based on best available information
Manidhari Gums And Chemicals          LT Fac             -              -       Withdrawn
Medchem Labs                          LT Bk Fac          CARE B+        62.5    Assigned
Nath Motors Pvt. Ltd.                 LT Bk Fac          CARE BB        420     Assigned
Neel Krishna Brothers                 LT Bk Fac          CARE D         100.3   -
Issuer not cooperating; Revised from CARE B+
Noble India Construction Company      LT / ST Bk Fac     CARE BB/ A4    150     Reaffirmed
Ozone Logistics Pvt Ltd               LT Bk Fac          CARE BB+       295     -
Issuer not cooperating; based on best available information
Parveen Travels Pvt. Ltd.             LT Bk Fac          -              -       Withdrawn
Patanjali Ayurved Ltd                 LT Bk Fac          CARE AA-       13954.8
Revised from CARE A+ (enhanced from Rs.300 Crore)
Patanjali Ayurved Ltd                 LT/ ST BkFac-      CARE AA-/ A1+  1000
                                      Non-fund based
Revised from CARE A+/ CARE A1 (enhanced from Rs 20 Crore)
Patanjali Ayurved Ltd                 LT/ ST Bk Fac- FB  CARE AA-/ A1+  3500    Assigned
Periwal Polymers Pvt Ltd              LT Bk Fac          CARE B+        40      Reaffirmed
Periwal Polymers Pvt Ltd              LT/ ST Bk Fac      CARE B+/ A4    10      Reaffirmed
R.K Chavan Infrastructure Pvt Ltd     LT Bk Fac          CARE B+        123.7   -
Issuer Not Cooperating, based on best available information
Radhakisan Pulses                     LT Bk Fac          CARE BB        200
“Issuer not cooperating”;Based on Best available Information
Rajarambapu Patil Sahakari Sakhar     LT Bk Fac          CARE BB-       5000
Karkhana Ltd
“Issuer not cooperating”;Based on Best available Information
Renaatus Procon Pvt Ltd               LT Bk Fac          CARE BB        101.5
Revised from CARE BB- (reduced from 12 Crore)
Rexon Strips Ltd                      LT Bk Facility     CARE B         220     -
ISSUER NOT COOPERATING; Based on best available information
Sahiba Ltd                            LT Bk Fac          CARE BBB+      644.2
Revised from CARE BBB+ (enhanced from Rs.62.10 Crore)
Sahiba Ltd                            LT / ST Bk Fac     CARE BBB+/ A2  400
Revised from CARE BBB+
Sai Poultry Farm                      LT Bk Fac          CARE B+        63      -
Issuer not cooperating; Based on best available information
Salasar Highways Pvt Ltd              LT Bk Fac          CARE BB-       2260    -
Issuer not cooperating; Revised from CARE BB+
Sanjay Construction Company           LT Bk Fac          CARE BB+       20      Assigned
Saraswatii Global Pvt Ltd             LT/ ST Bk Fac      CARE BB/ A4    200     Reaffirmed
Scm Clothes Pvt Ltd                   LT Bk Fac          CARE BBB-      191.7   Reaffirmed
(reduced from 43.33 Crore)
Shakambhari Ispat And Power Ltd       LT Bk Fac          CARE BBB-      7488.6  Reaffirmed
(enhanced from Rs.240.64 Crore)
Shri Dhanalakshmi Spinntex Pvt Ltd    LT Bk Fac          CARE BB+       962     -
Issuer Not Cooperating;Based on Best Available Information
Shri Mahavir Iron And Steel Pvt Ltd   LT Bk Facility     CARE BB-       70      -
ISSUER NOT COOPERATING; Based on best available information
Shri Ram Precisions                   LTBkFac            CARE BB+       187     -
Issuer not cooperating; based on best available information
Shriram Ozone Retail Pvt Ltd          LT Bk Fac          CARE BB+       183.4   -
Issuer not cooperating; based on best available information (reduced from 18.66 Crore)
Sohan Healthcare Pvt Ltd              Long/ ST Bk        CARE BBB-/ A3  100     Assigned
                                      Facility
Sri Balaji And Company                LT Bk Fac          CARE B         62      Assigned
Suman Jewellery                       LT Bk Fac          CARE BB        200     -
Issuer Not Cooperating; Based on best available information
Swastik Coal Corporation Pvt Ltd      LT Bk Fac          CARE D         550     -
Issuer Not Cooperating; Based on best available information
Tavasya Venture Partners Pvt Ltd      LT Bk Fac          CARE BB        15
Reaffirmed and removed from ISSUER NOT COOPERATING
Thakur Industries                     LT BkFac           CARE BB        169     Assigned
Tirupati Cold Storage                 LT Bk Fac          CARE D         55.4    -
Issuer Not Cooperating; Based on best available information
Toro Processors India Pvt Ltd         LT Bk Fac          CARE D         150     Assigned
Umasree Texplast Pvt Ltd              LT Bk Fac          CARE BBB-      39.6    Assigned
Umasree Texplast Pvt Ltd              LT/ ST Bk Fac      CARE BBB-/ A3  262     Assigned
Uttara Foods And Feeds Pvt Ltd        NCDs               CARE BB-       1250    Assigned
Vilas Javdekar Eco Homes              Issuer Rating      -              -       Withdrawn
--------------------------------------------------------------------------------------------
$: 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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