May 13, 2020 / 11:10 AM / 24 days ago

CARE ratings for Indian debt instruments - May 13

    May 13  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of May 12, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Anand Impex                          STBk Fac          CARE D;       42.5   Revised from
                                                                            CARE A4;
Issuer not cooperating; based on best available information
Ajeet And Company                    ST Bk Fac         CARE D;       30     -
Issuer not cooperating; based on best available information
Bhadreshwar Vidyut Pvt Ltd (ErstwhileST Bk Fac         CARE D;       4300   -
Opgs Power Gujarat Pvt Ltd)
Issuer not cooperating; based on best available information
Capital Enterprises                  ST Bk Fac         CARE D        70     -
Chaitanya International Minerals Llp ST Bk Fac         CARE A4;      20     -
Issuer not cooperating; based on best available information
Datamini Technologies (India) Ltd    ST Bk Fac         CARE A4;      30     Revised from
                                                                            CARE A4+;

Issuer not cooperating; based on best available information
Dimyra International                 ST BkFac          CARE A4       15     -
Issuer not cooperating; based on best available information
Eureka Forbes Ltd                    ST Bk Fac         CARE A2+      442.5  Revised from
                                                                            CARE A1
                                                                            
Placed under Credit Watch with Negative Implications
Forbes And Co. Ltd                   ST NonFBL         CARE A2+      385    Revised from
                                                                            CARE A1
                                                                            
Placed under Credit Watch with Negative Implications
Future Lifestyle Fashions Ltd        CP Issue*         CARE A1       1400   -
*carved out of working capital limits
Future Lifestyle Fashions Ltd        CP Issue          CARE A2+      1500   Revised from
                                                                            CARE A1+
Goyal Rice Mills                     ST Bk Fac         CARE A4;      80     -
Issuer not cooperating; based on best available information
H K Timbers Pvt Ltd                  ST Bk Fac         CARE D;       75     -
Issuer not cooperating; based on best available information
H R Ispat Pvt Ltd                    ST BkFac          CARE A4;      37.5   Revised
                                                                            fromCARE A4+,
Issuer not cooperating; based on best available information
Maharashtra State Power Generation CoBk Fac-Non fund STCARE A2+      8000   Reaffirmed
Ltd
(reduced from 3,916.39 Crore)
H K Lumbers Llp                      ST Bk Fac         CARE D;       45     -
Issuer not cooperating; based on best available information
Shri Sakthi Papers India Pvt Ltd     ST Bk Fac         CARE D        47     -
Issuer not cooperating; based on best available information
Mahender Singh Contractor            ST Bk Fac         CARE A4;      60     -
Issuer not cooperating; based on best available information
Mohini Food Products Pvt Ltd         ST Bk Fac         CARE A4;      15     -
Issuer not cooperating; based on best available information
Nortech Power Projects Pvt Ltd       ST Bk Fac         CARE A4       100    Reaffirmed
Padma Laxmi Sree Rice Mill Pvt Ltd   ST BkFac          CARE A4;      3
Issuer not cooperating; based on best available information
Rathi Hatcheries Pvt Ltd             ST Bk Fac         CARE A4;      16     -
Issuer not cooperating; based on best available information
Sanjiv Industries                    Short- term Bk FacCARE A4       47.5   -
Issuer not cooperating; based on best available information
Shiv Flour Mill                      ST Bk Fac         CARE A4;      160    -
Issuer not cooperating; based on best available information
Shree Contractor                     ST Bk Fac         CARE A4;      220    -
Issuer not cooperating; based on best available information
Sunkraft Designs                     ST Bk Fac         CARE A4;      0.5    -
Issuer not cooperating; based on best available information
Truba Advance Sciences Kombine       ST Bk Fac         CARE A4;      75     -
Issuer not cooperating; based on best available information

LONG TERM RATINGS:
-------------------
Ahmedabad Ring Road Infrastructure   LT BkFac          CARE A-       2172.2 Revised from
Ltd                                                                         CARE A
Ajeet And Company                    LT / ST Bk Fac    CARE D;       140    -
Issuer not cooperating; based on best available information
Anand Impex                          LTBk Fac          CARE D;       17.5   Revised from
                                                                            CARE BB-;
                                                                            Stable;
Issuer not cooperating; based on best available information
Electro Teknica Switchgears Pvt Ltd  LT BkFac          CARE A4;      50     -
Issuer not cooperating; based on best available information
Bhadreshwar Vidyut Pvt Ltd (ErstwhileIssuer Rating     CARE D (Is);  -      -
Opgs Power Gujarat Pvt Ltd)
Issuer not cooperating; based on best available information
Bhadreshwar Vidyut Pvt Ltd (ErstwhileLT Bk Fac         CARE D;       16324  -
Opgs Power Gujarat Pvt Ltd)
Issuer not cooperating; based on best available information
Birbal Dass Ritesh Kumar             LT Bk Fac         CARE C;       210    revised from
                                                       Stable;              CARE B-;
                                                                            Stable;
Issuer not cooperating; based on best available information
Brigade Properties Pvt Ltd           LT Bk Fac         CARE A-;      8600   Assigned
                                                       Stable
Capital Enterprises                  LT Bk Fac         CARE D        50     -
Issuer not cooperating; based on best available information
Chaitanya International Minerals Llp LT Bk Fac         CARE B; Stable80     revised from
                                                                            CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Datamini Technologies (India) Ltd    LT Bk Fac         CARE B-;      35     Revised from
                                                       Stable;              CARE
                                                                            BB+;Stable
Issuer not cooperating; based on best available information
Daulatram Industries                 LT Bk Fac         CARE D;       169.7  -
Issuer not cooperating; based on best available information
Dimyra International                 LT BkFac          CARE          59.1   Revised from
                                                       B-;Stable;           CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
Dullat Resort                        LT Bk Fac         CARE D;       70     -
Issuer not cooperating; based on best available information
Electro Teknica Switchgears Pvt Ltd  LT BkFac          CARE B-;      15     Revised from
                                                       Stable;              CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
Eureka Forbes Ltd                    LT Bk Fac         CARE A-       2660   Revised from
                                                                            CARE A; Stable
placed under Credit Watch with Negative Implications
Eureka Forbes Ltd                    Issuer Rating     CARE A-       -      Revised from
                                                                            CARE A
Issuer not cooperating; based on best available information
Kakoti Engineering Works             LT BkFac          CARE A4;      12.5   -
Issuer not cooperating; based on best available information
Forbes And Co. Ltd                   LT BkFac          CARE A-       1719.9 Revised from
                                                                            CARE A;
                                                                            Stable 
Placed under Credit Watch with Negative Implications
Forbes And Co. Ltd                   Proposed NCD      CARE A-       1000   Revised from
                                                                            CARE A;
                                                                            Stable placed under
Credit Watch with Negative Implications
Future Lifestyle Fashions Ltd        LT - Proposed TL  CARE A+;      1750   Revised from
                                                       Negative             CARE AA-;
Future Lifestyle Fashions Ltd        LT Bk Fac – TL    CARE A+;      3393.9 Revised from
                                                       Negative             CARE AA-;
Future Lifestyle Fashions Ltd        LT fund based Bk  CARE A+;      5500   Revised from
                                     Fac – CC          Negative             CARE AA-;
Future Lifestyle Fashions Ltd        NCD Issue         CARE A+;      3500   Revised from
                                                       Negative             CARE AA-;
                                                                            Negative
Future Lifestyle Fashions Ltd        Proposed NCD IssueCARE A+;      1500   Revised from
                                                       Negative             CARE AA-;
                                                                            Negative
Future Lifestyle Fashions Ltd        LT/ST Bk Fac –    CARE A+;      4750   Revised from
                                     LC/BG             Negative/CARE        CARE AA-;
                                                       A1                   Negative/CARE A1+
Goyal Rice Mills                     LT Bk Fac         CARE          57     Revised from
                                                       B-;Stable;           CARE B;
Issuer not cooperating; based on best available information
H K Lumbers Llp                      LT Bk Fac         CARE D;       13.5   -
Issuer not cooperating; based on best available information
H K Timbers Pvt Ltd                  LT Bk Fac         CARE D;       60     -
Issuer not cooperating; based on best available information
H R Ispat Pvt Ltd                    LT BkFac          CARE B+;      407.5  Revised
                                                       Stable               fromCARE BB-;
                                                                            Stable
Issuer not cooperating; based on best available information
Hanuman Ginning & Pressing Factory   LT Bk Fac         CARE B- ;     70     revised from
                                                                            CARE B
Issuer not cooperating; based on best available information
India Belt Company                   LT Bk Fac         CARE C;       50     Revised from
                                                       Stable;              CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
Kakoti Engineering Works             LT BkFac          CARE B;       60     Revised from
                                                       Stable;              CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Kala Chand Bose                      LT BkFac          CARE B-;      66     Revised from
                                                       Stable;              CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
Maharashtra State Power Generation CoBk Fac-Fund - LT  CARE BBB +; 114276.10#Reaffirmed
Ltd                                                    Stable
(increased from 8,311.22 Crore) # includes reclassification of short term fund based limits
amounting Rs. 2,366.29 crore as long-term.
Mahender Singh Contractor            LT Bk Fac         CARE          20     Revised from
                                                       B+;Stable;           CARE BB-;
                                                                            Stable;
Issuer not cooperating; based on best available information
Mohini Food Products Pvt Ltd         LT Bk Fac         CARE B+;      110.5  Revised from
                                                       Stable;              CARE
                                                                            BB-;Stable
Issuer not cooperating; based on best available information
Nortech Power Projects Pvt Ltd       LT Bk Fac         CARE B;       20     Reaffirmed;
                                                       Negative             Outlook
                                                                            revised from Stable
Nyalkaran Infra                      LT Bk Fac         CARE B+;      150    Revised
                                                       Stable;              fromCARE BB-;
                                                                            Stable;
Issuer not cooperating; based on best available information
Padma Laxmi Sree Rice Mill Pvt Ltd   LT BkFac          CARE B-;      123.5  Revised from
                                                       Stable;              CARE B;Stable;
Issuer not cooperating; based on best available information
Piano Presitel                       LT Bk Fac         CARE BB-;     211.4  Revised from
                                                       Stable;              CARE
                                                                            BB+;Stable
Issuer not cooperating; based on best available information
Protima Alu Company                  LT BkFac          CARE B-;      60     Revised from
                                                       Stable;              CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
Punjab Rice And General Mills        LT Bk Fac         CARE B;Stable;60     Revised from
                                                                            CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
R.S. Green Foods Pvt Ltd             LT Bk Fac         CARE D;       124.7  -
Issuer not cooperating; based on best available information
Rajat Developers                     LT Bk Fac         CARE B;       85     Revised
                                                       Stable;              fromCARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Ramky Elsamex Hyderabad Ring Road LtdLT Bk Fac         CARE BB+;     423.8  Revised from
                                                       Stable               CARE
                                                                            BB-;Stable
(reduced from 93.02 Crore)
Rathi Feeds India Pvt Ltd            LT BkFac          CARE B;Stable;131    Revised from
                                                                            CARE
                                                                            B+;Stable;
Issuer not cooperating; based on best available information
Rathi Hatcheries Pvt Ltd             LT Bk Fac         CARE B;Stable;91.4   -
Issuer not cooperating; based on best available information
Reliance Industries Ltd              Proposed NCDs     CARE AAA;     100000 Assigned
                                                       Stable
Sanjiv Industries                    LT Bk Fac         CARE B;Stable;10     Revised from
                                                                            CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Shanker Plastic Products             LT Bk Fac         CARE B;Stable;140    Revised from
                                                                            CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Shiv Flour Mill                      LT Bk Fac         CARE B;Stable;83     Revised From
                                                                            CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Shree Contractor                     LT Bk Fac         CARE BB-;     70     Revised from
                                                       Stable;              CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
Shree Ram Agro India                 LT Bk Fac         CARE B;Stable;51.8   Revised from
                                                                            CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Shree Seco Pvt Ltd                   LT/ ST Bk Fac     CARE          65     -
                                                       B-;Stable/CARE
                                                       A4;
Issuer not cooperating; based on best available information
Shree Seco Pvt Ltd                   LT Bk Fac         CARE          7.2    -
                                                       B-;Stable;
Issuer not cooperating; based on best available information
Shri Sakthi Papers India Pvt Ltd     Long –term Bk Fac CARE D        495    -
Issuer not cooperating; based on best available information
Shubhgrah Metals Pvt Ltd             LT/ STBk Fac      CARE C;       66.2   Revised from
                                                       Stable/CARE A4;      CARE B;
                                                                            Stable/CARE A4
Issuer not cooperating; based on best available information
Siyaram Cotton Industries            LT Bk Fac         CARE C;       139    Revised from
                                                       Stable;              CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Sk Samir Ali                         LT BkFac          CARE B;       80     Revised from
                                                       Stable;              CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Sri Saraswathi Educational Society   LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE B; Stable
Issuer not cooperating; based on best available information
Sukh Sagar Industries                LT Bk Fac         CARE B-;      50.2   Revised from
                                                       Stable;              CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Sunkraft Designs                     LT Bk Fac/ ST Bk  CARE          150    Revised from
                                     Fac               B+;Stable;           CARE BB-;
                                                       /CARE A4;            Stable; / CARE A4;
Issuer not cooperating; based on best available information
Truba Advance Sciences Kombine       LT Bk Fac         CARE B-;      33.4   Revised from
                                                       Stable;              CARE B; Stable
Issuer not cooperating; based on best available information
--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

CARE may apply + or - signs for ratings to reflect a comparative standing within the category.

BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate
of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial
Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference
shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN
-Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of
Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option
convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) -
Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non
Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over
Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture;
PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional;
PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass
Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference
notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured
Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short
Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable
Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures.

(Mumbai Rate Reporting Unit + 91 22 6180 7222/3317 7222, E-mail at rru.data@refinitiv.com)
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