March 17, 2020 / 7:32 AM / in 20 days

CARE ratings for Indian debt instruments-Mar 17

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

COMPANY                                 INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                        (RS.MLN)
-------                                 ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Anchor Health And Beauty Care Pvt. Ltd. ST Bk Fac-Non fund CARE A4+       180     Reaffirmed
                                        based
Anutex Shopping Mall Llp                ST Bk Fac          CARE A4        20      Reaffirmed
Arya Steels Rolling (India) Ltd         ST Bk Fac          -              60      Withdrawn*
*The short term bank facilities have been withdrawn on the basis of No dues certificate received
from the concerned banker.
Atharva Agro Chemicals Pvt Ltd          ST Bk Fac          -              -
Reaffirmed at CARE A4; and Withdrawn
B. R. Goyal Infrastructure Ltd          ST Bk Fac          CARE A3        72.8    Reaffirmed
Balaji Enamel Industry                  ST Bk Fac          CARE A4        60      -
Issuer not co-operating on the basis of best available Information
Dashmesh Rubber Industries Pvt Ltd      ST Bk Fac          CARE A4        8       Reaffirmed
(enhanced from 0.50 Crore)
Delicacies International                ST Bk Fac          CARE A4        120
Revised from CARE A4+; Issuer not co-operating based on best available information
Ensemble Infrastructure India Ltd       ST Bk Fac          CARE A4        150
Rating revised from CARE A4+ Issuer not co-operating Based on best available information
G S Bansal And Company                  ST Bk Fac          CARE A4        135
“Issuer not cooperating; based on best available information”
G. S. Malhotra                          ST Bk Fac          CARE A4        85      Reaffirmed
Gazole Cold Storage Pvt Ltd             ST Bk Fac          CARE A4        1.2     Assigned
Geo Fresh Organic                       ST Bk Fac          CARE A4+       41.5    -
Issuer not co-operating; Revised from CARE A3+ on the basis of best available information
Global Associates                       LT Bk Fac          CARE A4        150     -
Issuer not co-operating; Revised from CARE A+ ; based on best available information.
Gpr Infra                               ST Bk Fac          CARE A4        300
Issuer not cooperating on the basis of best available Information
Haldia Nirman Projects Pvt Ltd          ST Bk Fac          CARE A4        150     -
Issuer not co-operating; based on best available information
Jaidhar Constructions                   ST Bk Fac          CARE A4        8       -
Issuer not co-operating: Based On the best available Information
Jallan Transport Company                ST Bk Fac          CARE A4        130
“Issuer not cooperating; based on best available information”
Jhajharia Nirman Ltd                    ST Bk Fac          CARE A4+       404.5   -
Issuer not co-operating; Revised from CARE A3+ on the basis of best available information
Jio Ceramic                             ST Bk Fac          CARE A4        12.2    -
Issuer not co-operating; Based on best available information
Kan Victual Pvt Ltd                     ST Bk Fac          CARE A4+       52.5    Reaffirmed
Kapoor Imaging Pvt Ltd                  ST Bk Fac          --             -       Withdrawn
Khanpur Cold Storage Pvt Ltd            ST Bk Fac          CARE A4        3.6     Assigned
L & D Foods                             ST Bk Fac          CARE A4        5.7
“Issuer not co-operating; Based on best available information”
Maa Mahamaya Alloys Pvt Ltd             ST Bk Fac          CARE A4        74.5
Issuer not co-operating; Based of best available information
Marque Impex                            ST Bk Fac          CARE A3+       8.7     Assigned
Mayajukta Tea Estate Pvt Ltd            ST Bk Fac          CARE D         2       Assigned
Mega Construction Company               ST Bk Fac          CARE A4        105
Issuer not cooperating on the basis of best available Information
Mishal Construction Pvt Ltd             ST Bk Fac          CARE A4        150
Revised from CARE A4+ on the basis of best available information
Mohurgong And Gulma Tea Estates         ST Bk Fac          CARE A4        5       Reaffirmed
Nirosha Power Pvt Ltd                   ST Bk Fac          -              -       Withdrawn*
*CARE has withdrawn the rating assigned to the short-term bank facilities (Letter of Comfort) of
NPPL with immediate effect, as the company has returned the aforementioned facility in full and
there is no amount outstanding as on date.
Origo Commodities India Pvt Ltd         CP                 CARE A3        100     Assigned
Process Construction & Technical        ST Bk Fac          CARE D         175     -
Service Pvt Ltd
Issuer not co-operating; Based on best available information
P. K. Udyog                             ST Bk Fac          CARE A4        143     -
Issuer not co-operating; Based on best available information.
Pooja Associate (Contract Division)     ST Bk Fac          CARE A4        80      -
Issuer not co-operating; Based on best available information.
R. K. Cylinders                         ST Bk Facilities   CARE A4        50
“Issuer not cooperating; Based on best available information”
R. K. Exports (Karur) Pvt Ltd           ST Bk Fac          CARE A4        100     -
Issuer not co-operating; Based on best available information
Rajeev Kumar                            ST Bk Fac          CARE A4        82      Reaffirmed
Ramky Enviro Engineers Ltd              ST Bk Fac          CARE A1+       2540    Reaffirmed
Rayana Paper Board Industries Ltd       ST Bk Fac          CARE A3        15.4    -
Issuer not co-operating; Revised from CARE A3+ on the basis of best available information
Sadguru Engineers & Allied Services Pvt ST Bk Fac          CARE A4        170     -
Ltd
Issuer not co-operating based on best available information
Saluja Steel And Power Pvt Ltd          Long/ST Bk Fac     CARE A3        200     Reaffirmed
Sanjib Deka                             ST Bk Fac          CARE A4        25
Saraswathi Timber                       ST Bk Fac          CARE A4        67.5    Reaffirmed
Screen-O-Tex (India) Pvt Ltd            ST Bk Fac          CARE A4        70      Reaffirmed
Seabird Resorts Pvt Ltd                 ST Bk Fac          CARE A2+       3
Revised from CARE A1+(CE)
Se Forge Ltd                            ST Bk facility –   CARE D         960     Reaffirmed
                                        Non Fund based
                                        working capital Limits
Shree Alloys Industries Pvt Ltd         ST Bk Fac          -              -
Reaffirmed at CARE A4 and withdrawn
Sharp Enterprises                       ST Bk Fac          CARE A4        220     -
Issuer not co-operating
Shree Constructions                     Short- term Bk     CARE A4        260     -
                                        Fac
Issuer not co-operating Based on best available information
Shree Ram Laxman Sthapatya Co.          ST Bk Fac          CARE A4        20      Assigned
Shri Balaji Rollings Pvt Ltd            ST Bk Fac          CARE A4+       215     Reaffirmed
Spacewood Furnishers Pvt Ltd            ST Bk Fac          CARE A3        292.6   Reaffirmed
Sprint Exports Pvt Ltd                  ST Bk Fac          CARE A3+       1432.5  Reaffirmed
(enhanced from 111.60 Crore)
Sprint Exports Pvt Ltd                  ST Bk Fac          CARE A3+       50      Assigned
Sri Anjaneya Cotton Mills Ltd           ST Bk Fac          CARE A4        70      -
Issuer not co-operating; Based on best available information
Sri Loganayagi Timbers                  ST Bk Fac          CARE A4        60      -
Issuer not co-operating; based on best available information
Sri Paguntaswamy Cotton Ginning Factory ST Bk Fac          CARE A4        16      -
Issuer not co-operating; Based on best available information
Steel Case                              ST Bk Fac          CARE A4        50      -
Issuer not co-operating; Based on best available information
Surya Wires Pvt. Ltd.                   ST Bk Fac          CARE A4        186     -
Issuer not co-operating; Based on best available information
Suryadev Alloys And Power Pvt Ltd       ST Bk Fac          CARE A3+       3240    Reaffirmed
Svs Enterprises                         ST Bk Fac          CARE A4        15      Reaffirmed
Tara Shakti Rice Mill                   ST Bk Fac          CARE A4        4.8     -
Issuer not co-operating based on best available information.
Tenny Jose Ltd                          ST Bk Fac          CARE A4        275     Assigned
Tirupati Pulses Pvt Ltd                 ST Bk Fac          CARE A4        20      -
Issuer not co-operating based on best available information
Triton International Pvt Ltd            ST Bk Fac- Non     CARE A2        300     Reaffirmed
                                        Fund Based
Tube Turn (India) Pvt Ltd               ST Bk Fac          CARE A4        100     -
Issuer not co-operating Based on best available information
Tulip Cotspin Pvt Ltd                   ST Bk Fac          CARE A4+       30      Reaffirmed
Ulka Sea Foods Pvt Ltd                  ST Bk Fac          CARE A4        700
Revised from CARE A3 to CARE A4; Issuer Not Cooperating
Urban Transit Pvt Ltd                   ST Non Fund Based  CARE D         100     -
                                        – LC/BG
Issuer not co-operating; Based on best available information
Umasree Texplast Pvt Ltd                ST Bk Fac          CARE A3        12.7    Reaffirmed
Verdant Life Sciences Pvt Ltd           ST Bk Fac          CARE A4        15      Reaffirmed
(Enhanced from 1.06 crore)
Vkl Seasoning Pvt Ltd.                  Bk Fac: Non Fund   -              -
                                        Based – ST – BG/LC
Reaffirmed at CARE A3+; Credit watch with developing implications and withdrawn
Vibhor Steel Tubes Pvt Ltd              ST Bk Fac          CARE A3        946     -
Issuer not cooperating; on the basis of best available information
Vijay Industries                        ST Bk Fac          CARE A4        20      -
Issuer not co-operating; based on the best available information
Westin Resins & Polymers Pvt Ltd        ST Bk Fac          CARE D         50
Revised from CARE A4

LONG TERM RATINGS:
-------------------
Ambition Coal And Minerals Pvt Ltd      LT/ST Bk Fac       -              -
Reaffirmed at CARE B+; Stable/CARE A4 and Withdrawn
Anchor Health And Beauty Care Pvt. Ltd. LT Bk Fac-Fund     CARE BB+/      368.2   Reaffirmed
                                        based - TL         Negative
(enhanced from 11.20 Crore)
Anchor Health And Beauty Care Pvt. Ltd. LT Bk Fac-Fund     CARE BB+/      456     Reaffirmed
                                        based              Negative
Annpurna Rice Mill                      LT Bk Fac          -              -
Reaffirmed at CARE B; Stable; Issuer not co-operating and Withdrawn
Anutex Shopping Mall Llp                LT Bk Fac          CARE BB/       235.6
                                                           Stable
Reaffirmed (Reduced from Rs.27.00 Crore)
Apm Industries Ltd                      LT Bk Fac          CARE BBB/      561     Reaffirmed
                                                           Stable
Arya Steels Rolling (India) Ltd         LT Bk Fac          CARE BB+/      180     Reaffirmed
                                                           Stable
Asian Crop Care                         LT Bk Fac          CARE B+/       42.7    Reaffirmed
                                                           Stable
(Reduced from Rs.5.24 Crore)
Atharva Agro Chemicals Pvt Ltd          LT Bk Fac          -              -
Reaffirmed at CARE B+; Stable and Withdrawn
B. R. Goyal Infrastructure Ltd          LT Bk Fac          CARE BBB/      330     Reaffirmed
                                                           Stable
B. R. Goyal Infrastructure Ltd          LT/ST Bk Fac       CARE BBB/      2100    Reaffirmed
                                                           Stable/CARE A3
Balaji Enamel Industry                  LT Bk Fac          CARE B/ Stable 20      -
Issuer not co-operating: Revised from CARE B+; Stable on the basis of best available Information
Bebanco Developers Ltd                  LT Bk Fac          --             -       Withdrawn
                                        (Proposed)
Bhanix Finance And Investment Ltd       LT Bk Fac          CARE BBB-/     1000
                                                           Positive
Reaffirmed and Outlook revised from Stable
Bipin Synthetics Pvt Ltd                LT Bk Fac / ST Fac -              -
Reaffirmed and Withdrawn
Champa Bitumen Hot Mixture Plant        LT Bk Fac          CARE B-/ Stable62.2
Revised from CARE B; Stable ; Issuer Not Cooperating; based on best available information
Chandrawati Education Society           LT Bk Fac          CARE BB-/      52.8
                                                           Stable
“Issuer not co-operating; Revised from CARE BB; Stable on the basis of best available
information”
Civil Engineers Enterprises Pvt Ltd     LT Bk Fac          --             -       Withdrawn
Dashmesh Rubber Industries Pvt Ltd      LT Bk Fac          CARE B+,       116.7   Reaffirmed
                                                           Stable
(enhanced from 7.55 Crore)
Dashmesh Rubber Products                LT Bk Fac          CARE B+/       79.8    Assigned
                                                           Stable
Delhi Msw Solutions Ltd                 LT Bk Fac@         CARE AA- (CE)/ 2630    Reaffirmed
                                                           Stable
(enhanced from 191.58 Crore); @backed by unconditional and irrevocable corporate guarantee
extended by Ramky Enviro Engineers Limited (rated CARE AA-: Stable/CARE A1+).
Duet India Hotels (Ahmedabad) Pvt Ltd.  LT Bk Fac          CARE BBB-/     462.5
                                                           Negative
Reaffirmed and Outlook revised from CARE BBB-; Stable
Duet India Hotels (Chennai Omr) Pvt Ltd.LT Bk Fac          CARE BBB-/     562
                                                           Negative
Reaffirmed and Outlook revised from CARE BBB-; Stable
Duet India Hotels (Chennai) Pvt Ltd.    LT Bk Fac          CARE BBB-/     359
                                                           Negative
Reaffirmed and Outlook revised from CARE BBB-; Stable
Duet India Hotels (Hyderabad) Pvt Ltd.  LT Bk Fac          CARE BBB-/     902
                                                           Negative
Reaffirmed and Outlook revised from CARE BBB-; Stable
Duet India Hotels (Jaipur) Pvt Ltd.     LT Bk Fac          CARE BBB-/     360.5
                                                           Negative
Reaffirmed and Outlook revised from CARE BBB-; Stable
Duet India Hotels (Pune) Pvt Ltd.       LT Bk Fac          CARE BBB-/     814
                                                           Negative
Reaffirmed and Outlook revised from CARE BBB-; Stable
Eden Realty Ventures Pvt Ltd            LT Bk Fac          CARE BBB-      835     Reaffirmed
                                                           Stable
Ensemble Infrastructure India Ltd       LT Bk Fac          CARE BB/       50
                                                           Stable
Rating revised from CARE BB+; Stable Issuer not co-operating Based on best available information
Ensemble Infrastructure India Ltd       Long/ST Bk Fac     CARE BB/       50
                                                           Stable/CARE A4
Rating revised from CARE BB+; Stable/ CARE A4+ Issuer not co-operating Based on best available
information
Faba Agencies                           LT Bk Fac          CARE BB-/      450     Reaffirmed
                                                           Stable
G S Bansal And Company                  LT Bk Fac          CARE BB-/      10      -
                                                           Stable
Issuer not cooperating; Revised from CARE BB; Stable on the basis of best available information
G. S. Malhotra                          LT Bk Fac          CARE BB-/      15      Reaffirmed
                                                           Stable
Ganpati Structures Pvt Ltd              LT Bk Fac          CARE B+/ Stable190
“Issuer not co-operating; Revised from CARE BB-; Stable on the basis of best available
information”
Gazole Cold Storage Pvt Ltd             LT Bk Fac          CARE B-/       98.8    Assigned
                                                           Stable
Geo Fresh Organic                       LT Bk Fac          CARE BB+/      125     -
                                                           Stable
Issuer not co-operating; Revised from CARE BBB; Stable on the basis of best available
information
Geo Fresh Organic                       LT/ST Bk Fac       CARE BB+/      80      -
                                                           Stable/CARE A4+
Issuer not co-operating; Revised from CARE BBB; Stable/CARE A3+ on the basis of best available
information
Gera Developments Pvt Ltd               NCD issue (ISIN    -              -       Withdrawn
                                        no: INE965R07157)
Gera Developments Pvt Ltd               NCD issue-Proposed CARE AA-       1745
Continues to be on credit watch with Developing Implications
Gera Developments Pvt Ltd               NCD issue (ISIN    CARE AA-       250
                                        no: INE965R07082)
Continues to be on credit watch with Developing Implications
Gera Developments Pvt Ltd               NCD issue (ISIN    CARE AA-       250
                                        no: INE965R07090)
Continues to be on credit watch with Developing Implications
Gera Developments Pvt Ltd               NCD issue (ISIN    CARE AA-       250
                                        no: INE965R07108)
Continues to be on credit watch with Developing Implications
Gera Developments Pvt Ltd               NCD issue (ISIN    CARE AA-       250
                                        no: INE965R07116)
Continues to be on credit watch with Developing Implications
Gera Developments Pvt Ltd               NCD issue (ISIN    CARE AA-       200
                                        no: INE965R07124)
Continues to be on credit watch with Developing Implications
Gera Developments Pvt Ltd               LT Bk Fac          CARE AA-       990
Continues to be on credit watch with Developing Implications
Gpr Infra                               LT Bk Fac          CARE B+/       9300    -
                                                           Stable
Issuer not co-operating: Revised from CARE BB-; Stable on the basis of best available
Information Issuer not co-operating on the basis of
Gwalia Sweets Pvt Ltd                   LT Bk Fac          CARE BB/ Stable152.3   -
Issuer not co-operating; Based on best available information
Haldia Nirman Projects Pvt Ltd          LT Bk Fac          CARE BB-/      50
                                                           Stable
Revised From CARE BB; Stable; Issuer Not Cooperating based on best available information
Home Credit India Finance Pvt Ltd       NCD issue          -              -       Withdrawn
Hyderabad Integrated Msw Ltd            LT Bk Fac@         CARE AA- (CE)/ 1811.3  Reaffirmed
                                                           Stable
(reduced from 195.19 Crore); @backed by unconditional and irrevocable corporate guarantee
extended by Ramky Enviro Engineers Limited (rat
Igloo Frozen Foods Pvt Ltd              LT Bk Fac          CARE B-/       100     -
                                                           Stable
Issuer not co-operating; Revised from CARE B; Stable. On the basis of best available information
Indiabulls Infraestate Ltd              Proposed NCDs      --             -       Withdrawn
Indiabulls Properties Pvt Ltd           LT Bk Fac - LRD    -              -       Withdrawn
Indiabulls Properties Pvt Ltd           LT/ST Bk Fac – BG  -              -       Withdrawn
Integrated Coal Mining Ltd              LT Bk Fac          CARE A-/       268.6   Reaffirmed
                                                           Stable
(reduced from Rs.33.38 Crore)
Jagdambey Hydro Projects Llp            LT Bk Fac          CARE A- (CE)/  365.3   Reaffirmed
                                                           Stable
(reduced from Rs.60.00 crore)
Jaidhar Constructions                   LT Bk Fac          CARE B+/ Stable55.9    -
Issuer not co-operating: Revised from CARE BB-; Stable On the basis of best available
Information
Jallan Transport Company                LT Bk Fac          CARE BB-/      10      -
                                                           Stable
Issuer not cooperating; Revised from CARE BB; Stable on the basis of best available information
Janatha Ocean Products                  LT Bk Fac          CARE BB/       50
                                                           Stable
Revised from CARE BB-; Stable
Jasmine Industrial Corporation          LT/Shortterm Bk FacCARE B+/       260
                                                           Stable/CARE A4
Revised from CARE B+; Stable ; Outlook Reaffirmed
Jhajharia Nirman Ltd                    LT Bk Fac          CARE BB+/      32.5    -
                                                           Stable
Issuer not co-operating; Revised from CARE BBB; Stable on the basis of best available
information
Jhajharia Nirman Ltd                    LT/ Shortterm Bk   CARE BB+/      1413    -
                                        Fac                Stable/CARE A4+
Issuer not co-operating; Revised from CARE BBB; Stable/CARE A3+ on the basis of best available
information
Jio Ceramic                             LT Bk Fac          CARE B/ Stable 47.8    -
Issuer not co-operating; Revised from CARE B+; Stable on the basis of best available information
Kan Victual Pvt Ltd                     LT Bk Fac          CARE BB+/      145     Reaffirmed
                                                           Stable
Kapoor Imaging Pvt Ltd                  LT Bk Fac          --             -       Withdrawn
Khanpur Cold Storage Pvt Ltd            LT Bk Fac          CARE BB-/      66.4    Assigned
                                                           Stable
Krishna Hydrocarbons Pvt Ltd            LT Bk Fac          CARE BB/ Stable99
Revised from CARE BB+; Stable; Issuer not co-operating based on best available information
L & D Foods                             LT Bk Fac          CARE B+/ Stable124.3
“Issuer not co-operating; Revised from CARE BB-; Stable on the basis of best available
information”
Lala Kashinath Seth Jewellers Pvt Ltd   LT Bk Fac – Fund   CARE BBB-      300
                                        Based
Placed on credit watch with developing implications
Maa Kamakshya Enterprise                LT Bk Fac          CARE B+/ Stable50
Revised from CARE BB-; Stable; Issuer not co-operating based on best available information.
Maa Mahamaya Alloys Pvt Ltd             LT Bk Fac          CARE B +/      177     -
                                                           Stable
Issuer not co-operating; Revised from CARE BB - ; Stable on the basis of best available
information.
Maa Usha Urja Ltd                       LT Bk Fac          CARE BB+/      48.1    Reaffirmed
                                                           Stable
(Reduced from 8.86 Crore)
Madhav Solar Pvt Ltd                    LT Bk Fac          CARE A- (CE)/  117.3
                                                           Stable
Revised from CARE BBB ; (reduced from Rs.13.27 Crore)
Marque Impex                            LT Bk Fac          CARE BBB/      626.3   Assigned
                                                           Stable
Maruti Clean Coal And Power Ltd         LT Bk Fac – Fund   CARE BBB+/     11071.6 Reaffirmed
                                        based – TL         Stable
(reduced from 1,166.17 Crore)
Maruti Clean Coal And Power Ltd         LT Bk Fac – Fund   CARE BBB+/     1000    Reaffirmed
                                        based – CC         Stable
Maruti Clean Coal And Power Ltd         LT/ ST Bk Fac      CARE BBB+/     1370    Reaffirmed
                                        –Non-fund based –  Stable/CARE A3+
                                        BG/LC
Mayajukta Tea Estate Pvt Ltd            LT Bk Fac          CARE D         48.8    Assigned
Mega Construction Company               LT Bk Fac          CARE BB-/      30      -
                                                           Stable
Issuer not co-operating: Revised from CARE BB; Stable on the basis of best available Information
Issuer not co-operating on the basis of
Mendine Pharmaceuticals Pvt Ltd         LT Bk Fac          CARE BB-/      75      -
                                                           Stable
Issuer not co-operating; based on best available information.
Microplast Polytex Industries Pvt Ltd   LT Bk Fac          -              -
Reaffirmed at CARE BB-; Stable and withdrawn
Mishal Construction Pvt Ltd             Proposed LT Bk     CARE B+/ Stable100
                                        Fac
Revised from CARE BB; Stable on the basis of best available information
Mohurgong And Gulma Tea Estates         LT Bk Fac          CARE BB-/      145     Reaffirmed
                                                           Stable
Mp Highways Pvt Ltd                     LT Bk Fac (TL)     CARE A/ Stable 1751.1  Reaffirmed
(reduced from 192.99 Crore)
Muthoottu Mini Financiers Ltd           NCD issue          CARE BBB-/     2000    Assigned
                                        (Proposed)         Stable
Nagarjuna Fertilizers And Chemicals Ltd LT Bk Fac          CARE D         12761.4 -
Issuer not co-operating; on the basis of best available information
Nagarjuna Fertilizers And Chemicals Ltd Long/ST Bk Fac     CARE D         11796.7 -
Issuer not co-operating; on the basis of best available information
Nirosha Power Pvt Ltd                   LT Bk Fac          CARE BBB/      1530.6  Reaffirmed
                                                           Stable
(reduced from Rs.167.32 crore)
Ostro Dakshin Power Pvt Ltd             LT Bk Fac          CARE BBB+/     5841.7  Reaffirmed
                                                           Stable
(reduced from Rs. 596.25 crore)
Pelican Rotoflex Pvt Ltd                LT Bk Fac          CARE BBB/      283.8
                                                           Negative
Revised from CARE BBB; Stable (enhanced from 7.45 Crore)
Pelican Rotoflex Pvt Ltd                LT/ ST Bk Fac      CARE BBB/      465#
                                                           Negative/CARE
                                                           A3+
Revised from CARE BBB; Stable/ CARE A3+ (enhanced from 21.50 Crore); #Includes Rs.0.50 crore
facility reclassified from Short-Term to Long-Term/ Short Term
Pioneer Builderrs Ltd                   LT Bk Fac          CARE BBB-/     750     Reaffirmed
                                                           Stable
Pooja Associate (Contract Division)     LT Bk Fac          CARE B+/ Stable20      -
Issuer not co-operating; Revised from CARE BB-; Stable on the basis of best available
information.
Prevail Agro Products                   LT Bk Fac          CARE B/ Stable 60      -
Issuer not cooperating: Revised from CARE B+; Stable on the basis of best available Information
Prevail Agro Products                   LT / ST Bk Fac     CARE B/ Stable 33      -
                                                           /CARE A4
Issuer not cooperating: Revised from CARE B+; / A Four on the basis of best available
Information
Process Construction & Technical        LT Bk Fac          CARE D         158     -
Service Pvt Ltd
Issuer not co-operating; Based on best available information
Process Construction & Technical        LT / ST Bk Fac     CARE D         667     -
Service Pvt Ltd
Issuer not co-operating; Based on best available information
Quartzart Stones Llp                    LT Bk Fac          CARE B/ Stable 200     -
Issuer not cooperating; Revised from CARE BB-; Stable “on the basis of best available
information”
R. K. Cylinders                         LT Bk Fac          CARE BB-/      18.5
                                                           Stable
“Issuer not cooperating; Based on best available information”
R. K. Exports (Karur) Pvt Ltd           Long -term Bk Fac  CARE B+/ Stable174.1   -
Issuer not co-operating; Based on best available information
Radhe Agro Industries India Pvt Ltd     LT Bk Fac          CARE B+/ Stable136.3   -
Issuer not co-operating; On the basis of best available information
Rajeev Kumar                            LT Bk Fac          CARE B+/       18      Reaffirmed
                                                           Stable
Ramky Enviro Engineers Ltd              LT Bk Fac TL       -              -       Withdrawn
Ramky Enviro Engineers Ltd              LT Bk Fac          CARE AA-/      850     Reaffirmed
                                                           Stable
Rayana Paper Board Industries Ltd       LT Bk Fac          CARE BBB-/     427.5   -
                                                           Stable
Issuer not co-operating; Revised from CARE BBB; Stable on the basis of best available
information
Renuka Construction                     LT Bk Fac          CARE B/ Stable 200
Revised from CARE B+; Stable; Issuer not co-operating on the basis of best available information
Rizvi Estates And Hotels Pvt Ltd        LT Bk Fac          CARE D         154.8
Revised from CARE BB-; Stable
S R Collection Pvt Ltd                  LT Bk Fac          -              -
Reaffirmed at CARE BB-; Stable and withdrawn
Sadguru Engineers & Allied Services Pvt LT Bk Fac          CARE BB-/      50
Ltd                                                        Stable
Revised from CARE BB; Outlook: Stable ; Issuer Not Cooperating based on best available
information
Sakar Industries Pvt Ltd                LT/ST Bk Fac       CARE BB+/      460     -
                                                           Stable/CARE A4+
Issuer NotCo-operating; Based on best available information
Saluja Steel And Power Pvt Ltd          LT Bk Fac          CARE BBB-/     382     Reaffirmed
                                                           Stable
San Marine                              LT Bk Fac          CARE BB/       200     -
                                                           Stable
Issuer not co-operating: Revised from CARE BB+; Stable on the basis of best available
Information
Sanjib Deka                             LT Bk Fac          CARE B+/       50      Assigned
                                                           Stable
Sansar Trust Feb 2020 Iii Originator:   Second Loss        Equivalent to  1829.4  Assigned
Shriram Transport Finance Co. Ltd       Facility           Prov.-CARE A
                                                           (SO)
Sansar Trust Feb 2020 Iii Originator:   Series A PTC       Prov.-CARE AAA 31006.7 Assigned
Shriram Transport Finance Co. Ltd                          (SO)
Saraswathi Timber                       LT Bk Fac          CARE B+/       10
                                                           Stable
Revised from CARE B; Stable
Satwiki Proteins Pvt Ltd                LT Bk Fac          CARE BB/       480     Reaffirmed
                                                           Stable
Saya Homes Pvt Ltd                      LT Bk Fac          CARE BB+/      3800
                                                           Stable
“Issuer not co-operating; Revised from CARE BBB-; Stable Based on best available information”
Screen-O-Tex (India) Pvt Ltd            LT Bk Fac          CARE BB-/      16      Reaffirmed
                                                           Stable
(reduced from 2.28 Crore)
Screen-O-Tex (India) Pvt Ltd            LT / ST Bk Fac     CARE BB-/      120     Reaffirmed
                                                           Stable/CARE A4
Se Forge Ltd                            LT Bk facility -   CARE D         1834    Reaffirmed
                                        TL
(reduced from 240.92 Crore)
Se Forge Ltd                            LT Bk facility –   CARE D         464.5   Reaffirmed
                                        Fund Based Working
                                        capital limits
Seabird Marine Services Pvt Ltd         LT Bk Fac          CARE A+/       488.2   Reaffirmed
                                                           Stable
(reduced from Rs. 55.69 crore)
Seabird Marine Services Pvt Ltd         LT/ST Bk Fac       CARE A+/       100     Reaffirmed
                                                           Stable /CARE
                                                           A1+
(reduced from Rs. 40.00 crore)
Seabird Resorts Pvt Ltd                 LT Bk Fac          -              -       Withdrawn
(reduced from 0.01 crore)
Seabird Resorts Pvt Ltd                 LT Bk Fac          CARE A-/       159.3   Reaffirmed
                                                           Stable
(reduced from 18.03 crore)
Sei Jyotiswaroop Power Pvt Ltd          LT Instruments –   Prov.-CARE A+  1500    Assigned
                                        Debentures -       (CE)
                                        Nonconvertible Debentures
Under Credit Watch With Negative Implications
Shree Alloys Industries Pvt Ltd         LT Bk Fac          -              -
Reaffirmed at CARE B; Stable and withdrawn
Shree Constructions                     LT Bk Fac          CARE B/ Stable 40      -
Issuer not co-operating; Revised from B+ on the basis of best available information
Shree Ram Laxman Sthapatya Co.          LT Bk Fac          CARE B+/       70      Assigned
                                                           Stable
Shri Balaji Rollings Pvt Ltd            LT Bk Fac          CARE BB+/      -       Reaffirmed
                                                           Stable
Shubh Ply & Veneers Pvt Ltd             LT /ST Bk Fac      -              -
LT rating revised to CARE B; Stable; Issuer not co-operating from CARE B+; Stable; Issuer not
co-operating and ST rating Reaffirmed at CARE A4; Issuer not co-operating and Withdrawn
Shyam Cotton Trading Co                 Long –term Bk Fac  CARE BB-/      120     Assigned
                                                           Stable
Soham Mineral                           LT Bk Fac          CARE B+/ Stable53.8    Reaffirmed
(reduced from 5.92 Crore)
Sowil Ltd                               LT Bk Fac          -              -
Rating revised from CARE BB+; Stable to CARE BB; Stable and withdrawn
Spacewood Furnishers Pvt Ltd            LT / ST Bk Fac     CARE BBB- /    465     Reaffirmed
                                                           Stable/CARE A3
Sprint Exports Pvt Ltd                  LT Bk Fac          CARE BBB/      75.4    Assigned
                                                           Stable
Sprint Exports Pvt Ltd                  LT/ ST Bk Fac      CARE BBB/      1350    Reaffirmed
                                                           Stable /CARE
                                                           A3+
(enhanced from 65.00 Crore)
Sri Anjaneya Cotton Mills Ltd           LT Bk Fac          CARE BB-       267     -
Issuer not co-operating; Based on best available information
Sri Loganayagi Timbers                  Long -term Bk Fac  CARE B+/ Stable6       -
Issuer not co-operating; based on best available information; Revised from CARE BB-; Stable
Sri Paguntaswamy Cotton Ginning Factory LT Bk Fac          CARE B         80      -
Issuer not co-operating; Based on best available information
St. Patricks Realty Pvt Ltd             LT Bk Fac          CARE BBB (CE)/ 1750
                                                           Positive
reaffirmed and outlook revised from Stable; removed from credit watch developing
Starchem Polytrade Pvt Ltd              LT / Shortterm Bk  CARE B+/       277.5   -
                                        Fac                Stable /CARE A4
Issuer not co-operating; based on bestavailable information
Starlon Exim Pvt Ltd                    LT / Shortterm Bk  CARE B+/       300     -
                                        Fac                Stable /CARE A4
Issuer not co-operating; based on best available information
Steel Case                              LT Bk Fac          CARE BB-/      20      -
                                                           Stable
Issuer not co-operating; Revised from CARE BB; Stable , On the basis on best available
information
Sugee Developers Pvt Ltd                LT Bk Fac          CARE BBB-/     81.5    Reaffirmed
                                                           Stable
Surya Wires Pvt. Ltd.                   LT Bk Fac          CARE B/ Stable 100     -
Issuer not co-operating; Revised from CARE B+; Stable on the basis of best available information
Surya Wires Pvt. Ltd.                   LT/ST Bk Fac       CARE B/        40      -
                                                           Stable/CARE A4
Issuer not co-operating; Revised from CARE B+; Stable/CARE A4 on the basis of best available
information
Suryadev Alloys And Power Pvt Ltd       LT Bk Fac          CARE BBB+/     2079    Reaffirmed
                                                           Stable
Svs Enterprises                         LT Bk Fac          CARE B+/       50      Reaffirmed
                                                           Stable
Sweta Estates Pvt Ltd                   LT Bk Fac          CARE BBB (CE)/ 3630
                                                           Positive
reaffirmed and outlook revised from Stable; removed from credit watch developing (reduced from
375.00 Crore)
T R And Sons Business Pvt Ltd           LT Bk Fac          CARE B/ Stable 54.8    -
Issuer not co-operating; Revised from CARE B+; Stable on the basis of best available information
T R And Sons Business Pvt Ltd           LT/ST Fac          CARE B/        20.2    -
                                                           Stable/CARE A4
Issuer not co-operating; Revised from CARE B+; Stable/CARE A4 on the basis of best available
information
Tara Shakti Rice Mill                   LT Bk Fac          CARE B+/ Stable56
Revised from CARE BB-; Stable ; Issuer not co-operating based on best available information.
Tarsons Products Pvt Ltd                LT Bk Fac          CARE A-/       927.4   Reaffirmed
                                                           Stable
Tenny Jose Ltd                          Long –term Bk Fac  CARE BB-/      320     Assigned
                                                           Stable
Three Sixty Textiles Pvt Ltd            LT Bk Fac          CARE B+/ Stable60      Reaffirmed
Tirupati Industries                     LT Bk Fac          CARE B+/       200
                                                           Stable
Revised from CARE BB-; Stable Issuer not co-operating on the basis of best available information
Tirupati Pulses Pvt Ltd                 LT Bk Fac          CARE B+/       140     -
                                                           Stable
Issuer not co-operating; Revised from CARE BB-; Stable based on best available information
Triton International Pvt Ltd            LT Bk Fac- Fund    CARE BBB+/     250     Reaffirmed
                                        Based              Stable
Tube Turn (India) Pvt Ltd               LT Bk Fac          CARE B/ Stable 20
Rating revised from CARE BB-; Stable Issuer not co-operating Based on best available information
Tulip Cotspin Pvt Ltd                   LT Bk Fac          CARE BB/       325.7   Reaffirmed
                                                           Stable
Ultra Space Developers Pvt Ltd          LT Bk Fac- TL      CARE D         2000    -
Issuer not co-operating; Based on best available information
Um Green Lighting Pvt Ltd               LT Bk Fac          CARE B+/       160     Reaffirmed
                                                           Stable
(reduced from 17.50 Crore)
Um Green Lighting Pvt Ltd               LT/ST Bk Fac       CARE B+/       105     Reaffirmed
                                                           Stable/CARE A4
(reduced from 11.50 Crore)
Umasree Texplast Pvt Ltd                LT Bk Fac          CARE BBB-/     15.4    Reaffirmed
                                                           Stable
(reduced from 2.37 Crore)
Umasree Texplast Pvt Ltd                LT/ST Bk Fac       CARE BBB-/     297     Reaffirmed
                                                           Stable/CARE A3
Undavalli Constructions                 LT Bk Fac          -              -
Revised from CARE BB-; Stable to CARE B+; Stable and Withdrawn
Urban Transit Pvt Ltd                   LT Bk Fac          CARE D         1520    -
Issuer not co-operating; Based on best available information
Vedic Resorts & Hotels Pvt Ltd          LT Bk Fac          CARE BB/ Stable120.9
Revised from CARE BB+; Stable; Issuer not co-operating; based on best available information
Velankani Information Systems Ltd       LT- Bk Fac- LRD-   -              -       Withdrawn @
                                        Proposed
@Rating withdrawn as the company did not raise the proposed debt
Velankani Information Systems Ltd       LT Bk Fac- TL      CARE BBB-/     1434.2
                                                           Stable
Revised from CARE BBB; Stable (reduced from 190.00 Crore)
Velankani Information Systems Ltd       LT Bk Fac- LRD     CARE BBB-/     2915.6
                                                           Stable
Revised from CARE BBB; Stable (enhanced from 304.90 Crore)
Velankani Information Systems Ltd       Proposed NCDs      Prov.-CARE BB+ 10000   Assigned #
                                                           Stable
#The rating assigned is Provisional and will be confirmed once the company submits copies of
relevant executed documents to the satisfaction of CARE.
Verdant Life Sciences Pvt Ltd           LT Bk Fac          CARE BB/       239     Reaffirmed
                                                           Stable
(Reduced from 25.64 crore)
Vibhor Steel Tubes Pvt Ltd              LT Bk Fac          CARE BBB-/     545.7   -
                                                           Stable
Issuer not cooperating; Revised from CARE BBB; Stable on the basis of best available information
Vidhisha Paper Mills Pvt Ltd            LT Bk Fac          CARE BB-/      22.7    Reaffirmed
                                                           Stable
Vidhisha Paper Mills Pvt Ltd            LT/ ST Bk Fac      CARE BB-/      50      Reaffirmed
                                                           Stable/CARE A4
(enhanced from 3.00 Crore)
Vijay Industries                        LT Bk Fac          CARE B+        55      -
Issuer not co-operating; Revised from CARE BB-; Stable on the basis of best available
information
Viswabharathi Educational Society       LT Bk Fac          CARE D         1665    -
Issuer not co-operating; Based on best available information
Vitthal Corporation Ltd                 LT Bk Fac          CARE D         1712.5  -
Issuer not co-operating; on the basis of best available information
Vkl Seasoning Pvt Ltd.                  Bk Fac: Fund Based -              -
                                        – LT – TL
Reaffirmed at CARE BBB; Credit watch with developing implications and withdrawn
Vkl Seasoning Pvt Ltd.                  Bk Fac: Fund Based -              -
                                        – LT – CC
Reaffirmed at CARE BBB; Credit watch with developing implications and withdrawn
Welspun Sattanathapuram Nagapattinam    LT Bk Fac- TL      -              -       Withdrawn
Road Pvt Ltd
Westin Resins & Polymers Pvt Ltd        LT Bk Fac          CARE D         189.6
Revised from CARE BB; Stable
Zaveri And Company Pvt Ltd              LT/ ST Bk Fac      CARE A-/       500     Reaffirmed
                                                           Stable/CARE A2+

--------------------------------------------------------------------------------------------
$: 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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