March 20, 2020 / 9:39 AM / 15 days ago

CARE ratings for Indian debt instruments-Mar 20

    Mar 20  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of March 19, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Abc Transformers Pvt Ltd             STBk Fac          CARE A4       30     -
Issuer not cooperating, based on best available information
Arun Excello Constructions Llp       ST Bk Fac         CARE A3       270    Reaffirmed
Bajrang Agrotech (I) Pvt Ltd         ST BkFac          CARE A4       67.5   -

Issuer Not Cooperating; based on best available information
Berger Paints India Ltd              CP Issue          CARE A1+      5000   Reaffirmed
Bsk Agrofeeds Pvt Ltd                ST BkFac          CARE A4       4.7    -
Issuer not cooperating; based on best available information
Coreline Exports                     ST BkFac          CARE A4       120    -
Issuer not cooperating; based on best available information
D. Jamnadas And Company              ST Bk Fac         CARE A4       50     -
Issuer not cooperating; based on best available information
Kanhha Cables Pvt Ltd                ST Bk Fac         -             -      -
(Reaffirmed and Withdrawn)
R D Samant Contractors Pvt Ltd       ST Bk Fac         -             -      -
(Reaffirmed and Withdrawn)
Spykar Lifestyles Pvt Ltd            ST Bk Fac         -             -      -
Reaffirmed at CARE A1+ (CE) [A One Plus (Credit Enhancement)] and withdrawn*
Drugs India                          ST BkFac          CARE A4       0.5    -
Issuer not cooperating; based on best available information
Eastern Heritage                     ST Bk Fac         CARE A4       5      Assigned
Gkb Lens Pvt Ltd                     ST BkFac          CARE A3       13     Reaffirmed
I P Rice Industries                  ST Bk Fac         CARE A4       30     -
Issuer Not Cooperating; based on best available information
Indian Designs Exports Pvt Ltd       ST Bk Fac         CARE A3+      2280   Reaffirmed
(reduced from 250.00 crore Crore)
Kyb-Conmat Pvt Ltd                   ST BkFac          CARE A2       250    Reaffirmed          
                                           
(enhanced from Rs.5.00 crore Crore)
Maa Sarala Agritech Pvt Ltd          ST Bk Fac         CARE A4       50     -
Issuer not cooperating;Based on best available information
Omni Impex Pvt Ltd                   ST Bk Fac         CARE A4+      41.7   Reaffirmed
Ovobel Foods Ltd                     ST Bk Fac         CARE A4       110    -
Issuer not cooperating;On the basis of best available information
Piyush Plyboards Pvt. Ltd.           ST Bk Fac         CARE A4       60     -
Issuer Not Cooperating; based on best available information
Rbbr Infrastructure Pvt Ltd          ST Bk Fac         CARE A4       17.5    -
                                                                           
Issuer Not Cooperating; based on best available information
Shakambhari Ispat & Power Ltd        ST BkFac          CARE A4+      1400   Revised from
                                                                            CARE A3
(enhanced from 87 Crore)
Steelman Industries                  ST Bk Fac         CARE A4       70     Reaffirmed
(Reduced from 8.00 Crore)

LONG TERM RATINGS:
-------------------
Abc Transformers Pvt Ltd             LT Bk Fac         CARE B/ Stable50     -
Issuer not cooperating, based on best available information
Abeer Textile Pvt Ltd                LT BkFac          CARE BBB/     900.2  Revised from
                                                       Stable               CARE BBB+;
                                                                            Stable
(reduced from Rs.123.96 crore Crore)
Achal Spinning Pvt Ltd               Long- Term BkFac  CARE BBB+/    724    Reaffirmed
                                                       Stable
(reduced from Rs.98.34 crore Crore)
Agarwal Education Foundation         LT Bk Fac         CARE B+/ Stabl50.7   Reaffirmed
(reduced from 6.52 Crore)
Agarwal Education Foundation         LT/ ST BkFac      CARE B+/      41     Reaffirmed /
                                                       Stable/CARE A4       Assigned
Ankalesh Textile Pvt Ltd             Long- Term BkFac  CARE BBB+/    170.8  Reaffirmed
                                                       Stable
(reduced from Rs.52.04 crore Crore)
Anmol Spintex Pvt Ltd                LT BkFac          CARE BBB+/    473    Reaffirmed
                                                       Stable
(reduced from Rs.60.99 crore Crore)
Arun Excello Constructions Llp       LT Bk Fac         CARE BBB-/    1200.7 Reaffirmed
                                                       Stable
Arun Excello Homes Pvt Ltd           LT Bk Fac         CARE BBB-/    3424.1 Reaffirmed
                                                       Stable
Arun Excello Realty Pvt Ltd          LT Bk Fac         CARE BBB-/    365.6  Reaffirmed
                                                       Stable
B. P. Frozen Foods                   LT BkFac          CARE B/ Stable115.5  Revised from
                                                                            CARE B+;
                                                                            Stable
Issuer not cooperating, based on best available information
Bajrang Agrotech (I) Pvt Ltd         LT BkFac          CARE B+/ Stabl50     Revised from
                                                                            CARE BB-
Issuer not cooperating, based on best available information
Bajrangbali Rerollers Pvt Ltd        LT Bk Fac         CARE BB/ Stabl150    Revised from
                                                                            CARE
                                                                            BB+;Stable
Issuer Not Cooperating; based on best available information
Barani Ferrocast Pvt Ltd             Long -term Bk Fac CARE BB- /    97     -
                                                       Stable
Issuer not cooperating; Basedon best available information
Bee Pee Rollers Pvt Ltd              LT Bk Fac         CARE BB-/     150    Revised from
                                                       Stable               CARE BB;Stable
Issuer not cooperating; Basedon best available information
Bsk Agrofeeds Pvt Ltd                LT Bk Fac         CARE B-/ Stabl96.2   Revised from
                                                                            CARE B;Stable
Issuer not cooperating; Basedon best available information
Chandra Electronic Appliances Pvt LtdST Bk Fac         -             -      -
(Reaffirmed and Withdrawn )
Chandra Electronic Appliances Pvt LtdLT Bk Fac         CARE BB-      -      Revised from
                                                                            CARE BB;
                                                                            Negative
Issuer not cooperating; based on best available information
Coreline Exports                     Long –term BkFac  CARE BB-/     150    Revised from
                                                       Stable               CARE BB;
                                                                            Stable
Issuer not cooperating; based on best available information
D. Jamnadas And Company              LT Bk Fac         CARE B/ Stable15     -
Issuer not cooperating; based on best available information
Dadu Pipes Pvt Ltd                   LT Bk Fac         CARE BB-/     180    Revised from
                                                       Stable               CARE
                                                                            BB+;Stable
Issuer not cooperating; based on best available information
Dadu Pipes Pvt Ltd                   LT/ShortTerm BkFacCARE BB-/     120    Revised from
                                                       Stable /CARE A4      CARE
                                                                            BB+;Stable/CARE A4+
Issuer not cooperating; based on best available information
Dagar Farms                          LT Bk Fac         CARE D        52.9   Revised from
                                                                            CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Deccan Jewellers Pvt Ltd             LT Bk Fac         CARE B+/ Stabl160    Reaffirmed
(reduced from 29.00 Crore)
Drugs India                          LT BkFac          CARE B/ Stable75     Revised from
                                                                            CARE B+;
                                                                            stable
Issuer not cooperating; based on best available information
Eastern Heritage                     LT / ST Bk Fac    CARE BB-/     105    Assigned
                                                       Stable/CARE A4
Essel Urja Pvt Ltd                   LT Bk Fac – TL    CARE BBB-     2470   
Issuer Not Cooperating; based on best available information
(reduced from 267.00 Crore)
Gkb Lens Pvt Ltd                     LT BkFac          CARE BBB/     130    Revised from
                                                       Stable               CARE
                                                                            BBB-;Stable
Gkb Lens Pvt Ltd                     Long/STBk Fac     CARE BBB/     10     Revised from
                                                       Stable/CARE A3       CARE BBB-;
                                                                            Stable/ CARE A3
I P Rice Industries                  LT Bk Fac         CARE B-/ Stabl26.5   Revised from
                                                                            CARE B; Stable
Issuer Not Cooperating; based on best available information
Il&Fs Education And Technology ServicCommercialPaper   CARE D        2000   -
Ltd                                  (CP)Issue
Issuer not cooperating;Based on best available information
India Exposition Mart Ltd            LT BkFac          -             -      Withdrawn
India Exposition Mart Ltd            LT BkFac          CARE BBB+/    610    Reaffirmed
                                                       Negative
Indian Designs Exports Pvt Ltd       LT Bk Fac         CARE BBB/     230.7  Reaffirmed
                                                       Stable
(reduced from 35.00 crore Crore)
J V Exports                          LT BkFac          CARE BB/ Stabl160    Reaffirmed
J. V. Strips Ltd                     LT Bk Fac         CARE D        540    Revised from
                                                                            CARE C; Stable
Issuer not cooperating;Based on best available information
J. V. Strips Ltd                     Long/ST Bk Fac    CARE D        100    Revised from
                                                                            CARE C; Stable
Issuer not cooperating;Based on best available information
Jindal Saw Ltd                       Proposed NCDs     CARE AA/ Stabl5000   Assigned
Kanhha Cables Pvt Ltd                LT Bk Fac         -             -      -
(Reaffirmed and Withdrawn)
Kanhha Cables Pvt Ltd                LT/ ST Bk Fac     -             -      -
(Reaffirmed and Withdrawn)
Kaushal Sharma                       LT Bk Fac         CARE BB-/     150    Revised from
                                                       Stable               CARE B+;
                                                                            Stable
Issuer not cooperating;Based on best available information
Kd Infraengicon Pvt Ltd              LT Bk Fac         CARE D        31.5   -
Issuer not cooperating;Based on best available information
Kd Infraengicon Pvt Ltd              Long/ST Bk Fac    CARE D        40     -
Issuer not cooperating;Based on best available information
Krish Agro Farms Pvt Ltd             LT Bk Fac         CARE D        120    -
Issuer not cooperating;Based on best available information
Kyb-Conmat Pvt Ltd                   LT BkFac          CARE BBB+/    392.6  Reaffirmed
                                                       Negative/CARE
                                                       A2
Outlook revised from Stable to Negative
L. C. Foods Ltd                      LT Bk Fac         CARE BB-/     150    Reaffirmed
                                                       Stable
L. C. Foods Ltd                      LT/ST BkFac       CARE BB-/     10     Reaffirmed
                                                       Stable/CARE A4
Maa Sarala Agritech Pvt Ltd          LT Bk Fac         CARE B-/ Stabl50     Revised from
                                                                            CARE B; Stable
Issuer not cooperating;Based on best available information
Morgan Credits Pvt. Ltd.             NCD               CARE BB/      1063   Revised from
                                                       Negative             CARE BBB-;
                                                                            Stable
New Sapna Granite Industries         LT Bk Fac         CARE D        55     Reaffirmed
(reduced from 5.68 Crore)
Nvr Infrastructure & Services Pvt LtdLT Bk Fac         CARE A/ Stable623.5  Reaffirmed
(reduced from 68.24 Crore)
Omkar Infracon Pvt Ltd               LT Bk Fac         CARE BB/ Stabl72.6   Revised from
                                                                            CARE BB-;
                                                                            Stable
Issuer not cooperating;Based on best available information
Omni Impex Pvt Ltd                   LT Bk Fac         CARE BB/ Stabl87.3   Reaffirmed
Pharmachem Traders Pvt Ltd           Long –term BkFac  CARE B/ Stable10     Revised from
                                                                            CARE BB-;
                                                                            Stable
Issuer not cooperating;On the basis of best available information
Pharmachem Traders Pvt Ltd           LT/Shortterm BkFacCARE B/       95     Revised from
                                                       Stable/CARE A4       CARE BB-;
                                                                            Stable
Issuer not cooperating;On the basis of best available information
Piyush Plyboards Pvt. Ltd.           LT Bk Fac         CARE B-/ Stabl10     Revised from
                                                                            CARE B
Issuer not cooperating;On the basis of best available information
Prajapati Developers                 LT Bk Fac         CARE B+/ Stabl600    Revised from
                                                                            CARE BB-;
                                                                            Stable
Issuer Not Cooperating; based on best available information
R D Samant Contractors Pvt Ltd       LT Bk Fac         -             -      -
(Reaffirmed and Withdrawn)
Rajiv Aggarwal                       LT BkFac          CARE B-/ Stabl50     Revised from
                                                                            CARE B; Stable
Issuer Not Cooperating; based on best available information
Rbbr Infrastructure Pvt Ltd          Long -term Bk Fac CARE B+/ Stabl112.5  Issuer not
                                                                            Cooperating.
                                                                            Revised from CARE
BB-; Stable (Double B Minus; Outlook: Stable) Based on best availabl
Issuer Not Cooperating; based on best available information
S.K. Sulz Fab Pvt Ltd                LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE B+
Issuer Not Cooperating; based on best available information
Shakambhari Ispat & Power Ltd        LT BkFac          CARE BB+/     8235.7 Revised from
                                                       Stable               CARE BBB-
(enhanced from 774.54 Crore)
Shree Maa Kali Polymers              LT BkFac          CARE B-/ Stabl95     Revised from
                                                                            CARE B; Stable
Issuer Not Cooperating; based on best available information
Steelman Industries                  LT Bk Fac         CARE BB-/     70     Reaffirmed
                                                       Stable
(Enhanced from 6.50 Crore)
Sumal India                          LT/ Short Fac     CARE BB/      100    Revised from
                                                       Negative/CARE        CARE BB+;
                                                       A4                   Stable/ CARE A4

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