May 5, 2020 / 8:49 AM / 23 days ago

CARE ratings for Indian debt instruments - May 5

    May 5  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local
debt instruments as of May 4, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Active Clothing Co Ltd               ST Bk Fac         CARE A4+;     8      Revised from
                                                                            CARE A3
Issuer not cooperating; based on best available information
Aditya Timpack Pvt Ltd               ST Bk Fac         CARE A4;      20     -

Issuer not cooperating; based on best available information
Alumil Buildmate Pvt Ltd             ST BkFac          CARE A4;      30     -
Issuer not cooperating; based on best available information
Amon-Ra Impex Pvt Ltd                ST BkFac          CARE A4       50     Reaffirmed
Anantha Pvc Pipes Pvt Ltd            ST BkFac          CARE A4;      70     -
Issuer not cooperating; based on best available information
Balaji Enterprises-Lucknow           STBk Fac          CARE A4;      112.5  Revised from
                                                                            CARE A4;
Issuer not cooperating; based on best available information
Gvk Power (Goindwal Sahib) Ltd       ST Bk Fac         CARE D;       405    -
Issuer not cooperating; based on best available information
Datt Infracreations Pvt Ltd          ST BkFac          CARE A4;      10     -
Issuer not cooperating; based on best available information
Deep Jyoti Company                   ST Bk Fac         CARE A4;      17.5   -
Issuer not cooperating; based on best available information
Focus Comtrade Pvt Ltd               ST Bk Fac – Non   CARE A4;      60     -
                                     Fund Based
Issuer not cooperating; based on best available information
Focus Comtrade Pvt Ltd               ST Bk Fac – Fund  CARE A4;      5      -
                                     Based
Issuer not cooperating; based on best available information
Jaypee Institute Of Information      ST BkFac          -             0      Withdrawn@
Technology Society
@The ratings of the short-term bank facilities have been withdrawn based on surrendered the
short-term bank facilities
Gujarat Ambuja Exports Ltd           CP #              --            -      Withdrawn
# carved out of sanctioned fund based working capital limits of the company
Gr Power Switchgear Ltd              ST Bk Fac         CARE A4       120    -
Issuer not cooperating; based on best available information
L Sudershan Reddy Contractor         ST Bk Fac         CARE A4       20     Assigned
Madhu Industries Pvt Ltd             ST BkFac          CARE A4;      38.2   -
Issuer not cooperating; based on best available information
Ncj Infrastructure Pvt Ltd           ST Non-FB Fac - BGCARE A3       500    Assigned
Nippon Motor Corporation Pvt Ltd     ST BkFac          CARE A4+      1800   Revised from
                                                                            CARE A3
Orissa Enterprises                   ST Bk Fac         CARE A4       40     Assigned
Pilani Investment And Industries     CP                CARE A1+      10000  Assigned
Corporation Ltd
Rishikesh Structural Solutions Llp   ST BkFac          CARE A4;      10     -
Issuer not cooperating; based on best available information
Sanwariya Impex Pvt Ltd              ST Bk Fac         CARE A4;      0.6    -
Issuer not cooperating; based on best available information
Sangam Handicraft Pvt Ltd            Short -Term Bk FacCARE D;       7.5    Revised from
                                                                            CARE A4;
Issuer not cooperating; based on best available information
Shree Ramkrishna Exports Pvt Ltd     ST BkFac          CARE A2+      1144.3 Reaffirmed
Shrishaila Electricals (India) Pvt   Short -term BkFac CARE A4;      100    -
Ltd
Issuer not cooperating; based on best available information
Skf Boilers And Driers Pvt Ltd       Short -term BkFac CARE A4;      273.5  -
Issuer not cooperating; based on best available information
Skv Infratech Pvt Ltd                STBk Fac          CARE A4;      105    Revised from
                                                                            CARE A4;
Issuer not cooperating; based on best available information
Sri Savitr Solar Pvt Ltd             ST BkFac          CARE A4;      130    -
Issuer not cooperating; based on best available information
Thane Steels Ltd                     ST Bk Fac         CARE A4       36.8   -
Issuer not cooperating; based on best available information
The Cotton Corporation Of India Ltd  ST Bk Fac: MSP    CARE A2+      250000 Revised from
                                     operations @                           CARE A1+
Issuer not cooperating; based on best available information,@Credit enhancement being received
in the form of the Letter of Comfort issued by Ministry
The Cotton Corporation Of India Ltd  ST Bk Fac: CP#    CARE A3;      40000  Revised from
                                     operations                             CARE A1,
Issuer not cooperating; based on best available information,# CP: Commercial operations
Zigma Global Environ Solutions Pvt   ST Bk Fac         CARE A3       318.7  Reaffirmed
Ltd
(reduced from 56.96 Crore)

LONG TERM RATINGS:
-------------------
Active Clothing Co Ltd               LT Bk Fac         CARE BB+;     694.1  Revised from
                                                       Stable;              CARE BBB-;
                                                                            Stable
Issuer not cooperating; based on best available information
Aditya Timpack Pvt Ltd               LT Bk Fac         CARE BB-;     167.9  -
                                                       Stable;
Issuer not cooperating; based on best available information
Agarwal Toughened Glass India Pvt LtdLT Bk Fac         CARE B;       65.5   Revised from
                                                                            CARE B+;
Issuer not cooperating; based on best available information
Alumil Buildmate Pvt Ltd             LT BkFac          CARE B+;      22.6   -
                                                       Stable;
Issuer not cooperating; based on best available information
Amon-Ra Impex Pvt Ltd                LT BkFac          CARE B; Stable5      Reaffirmed
Anantha Pvc Pipes Pvt Ltd            LT BkFac          CARE B-;      80     Revised
                                                       Stable,              fromCARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
Anchor Agritech                      LT Bk Fac         CARE D;       54.5   -
Issuer not cooperating; based on best available information
Balaji Enterprises-Lucknow           LTBk Fac          CARE B-;      95     Revised from
                                                       Stable;              CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
Bhagwati Woven Pvt Ltd               LT /ST Bk Fac     CARE B+;      46     -
                                                       Stable/CARE A4
Issuer not cooperating; based on best available information
Bhagwati Woven Pvt Ltd               LT Bk Fac         CARE B+;      31.6   -
                                                       Stable;
Issuer not cooperating; based on best available information
Bsc –C&C Kurali Toll Road Ltd        LT Bk Fac         CARE D;       1573   -
Issuer not cooperating; based on best available information
Capital Power Systems Ltd            LT/ST Bk Fac      CARE B; Stable350    Revised from
                                                       /CARE A4;            CARE B+;
                                                                            Stable /CARE A4
Issuer not cooperating; based on best available information
Capital Power Systems Ltd            LT Bk Fac         CARE B; Stable200    Revised from
                                                       ;                    CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Capri Global Housing Finance Ltd     NCD               CARE A-;      2000   Assigned
                                                       Stable
Condor Footwear (India) Ltd          LT Bk Fac         CARE BBB-;    280    Assigned
                                                       Stable
Darshan Overseas Pvt Ltd             LT /ST Bk Fac     CARE BB+;     350    Reaffirmed
                                                       Stable/CARE A4+
(reduced from Rs. 40.00 crore)
Darshan Overseas Pvt Ltd             LT/STBk Fac       CARE BB+;     350    Reaffirmed
                                                       Stable/CARE A4+
(reduced from Rs. 40.00 crore Crore)
Datt Infracreations Pvt Ltd          LT BkFac          CARE B+;      50     Revised from
                                                       Stable;              CARE
                                                                            BB-;Stable
Issuer not cooperating; based on best available information
Deep Jyoti Company                   LT Bk Fac         CARE B;       215    Revised from
                                                       Stable;              CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Dhawan Trading Company               LTBk Fac          CARE B-;      225    Revised from
                                                                            CARE B;
Issuer not cooperating; based on best available information
Divine Chem Food                     LT Bk Fac         CARE C;       79.5   Revised from
                                                                            CARE B;
Issuer not cooperating; based on best available information
First Choice Realty Llp              LT BkFac          CARE BB-;     96.8   Reaffirmed
                                                       Stable
Gee Emm Overseas                     LT Bk Fac         CARE B;       92.5   Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Gehlot Enterprise                    LT Bk Fac         CARE D;       90     -
Issuer not cooperating; based on best available information
Gr Power Switchgear Ltd              LT Bk Fac         CARE BB-;     260    -
                                                       Stable;
Issuer not cooperating; based on best available information
Grand Windsor Resorts Ltd            LT/ST BkFac       CARE BB+;     25     -
                                                       Stable/CARE
                                                       A4+;
Issuer not cooperating; based on best available information
Grand Windsor Resorts Ltd            LT Bk Fac         CARE BB+;     102.5  -
                                                       Stable;
Issuer not cooperating; based on best available information
Gujarat Ambuja Exports Ltd           LT Bk Fac (TL)    --            -      Withdrawn
Gvk Power (Goindwal Sahib) Ltd       LT Bk Fac         CARE D;       24000  -
Issuer not cooperating; based on best available information
Harita Seating Systems Ltd           Long/ ST BkFac    CARE A /CARE  50     Reaffirmed
                                                       A1
Continues to be on credit watch
Harita Seating Systems Ltd           LT Bk Fac         CARE A;       278    Reaffirmed
Continues to be on credit watch
Icici Prudential Mutual Fund         ICICI Prudential  -             -      Withdrawn
                                     Capital Protection
                                     Oriented Fund VII Plan D
Ind Barath Thermotek Pvt Ltd         Non – Convertible CARE D;       6990    -
                                     Debenture issue –
                                     Series I
Issuer not cooperating; based on best available information
Ind Barath Thermotek Pvt Ltd         Non – Convertible CARE D;       800     -
                                     Debenture issue –
                                     Series II
Issuer not cooperating; based on best available information
Innovative Ideals And Services India LT Bk Fac         CARE D;       57.5   Revised from
                                                                            CARE D
Issuer not cooperating; based on best available information
J. L Autoparts Pvt Ltd               LT Bk Fac- Fund   CARE BB-;     100    Revised from
                                     Based             Stable;              CARE
                                                                            BB+;Stable;
Issuer not cooperating; based on best available information
Jay Ushin Ltd                        LT Bk Fac         CARE BB+;     440    Assigned
                                                       Stable
Jay Ushin Ltd                        LT/ST Bk Fac      CARE BB+;     660    Assigned
                                                       Stable/CARE A4+
Jaypee Institute Of Information      LT BkFac          CARE BBB-;    728.5  Reaffirmed
Technology Society                                     Stable
K. M. M. Foods Pvt Ltd               LT Bk Fac         CARE D        56.6   -
Issuer not cooperating; based on best available information
L Sudershan Reddy Contractor         LT Bk Fac         CARE B+;      35     Assigned
                                                       Stable
Madhu Industries Pvt Ltd             LT/ST Bk Fac      CARE BB/CARE  195    Revised from
                                                       A4;                  CARE BB+/CARE
                                                                            A4
Issuer not cooperating; based on best available information
Madhu Industries Pvt Ltd             LT BkFac          CARE BB:      8.9    Revised from
                                                                            CAREBB+
Issuer not cooperating; based on best available information
Maruti Granites And Marbles Pvt Ltd  LT Bk Fac         CARE B+;      110    Revised from
                                                       Stable;              CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
Nippon Motor Corporation Pvt Ltd     LT BkFac          CARE BB+;     649.4  Revised from
                                                       Stable               CARE BBB-;
                                                                            Outlook: Stable
Orissa Enterprises                   LT Bk Fac         CARE B+;      30     Assigned
                                                       Stable
Ostwal Phoschem (India) Ltd          LT Bk Fac         CARE BBB;     120    Reaffirmed
                                                       Stable
Prem Narayan Rameshwar Dayal         LT Bk Fac         CARE D;       99     Revised from
                                                                            CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
R. K. Frozen Foods                   LTBk Fac          CARE B+;      139.5  Revised from
                                                                            CARE BB-;
Issuer not cooperating; based on best available information
Rakesh Construction Company          LT Bk Fac         CARE BB-;     50     Revised from
                                                       Stable;              CARE BB;Stable
Issuer not cooperating; based on best available information
Rakesh Construction Company          LT / ST Bk Fac    CARE          100    Revised from
                                                       BB-;Stable           CARE
                                                       /CARE A4;            BB;Stable/CARE A4
Issuer not cooperating; based on best available information
Raviraj Ginning Pressing And Oil     LT Bk Fac         CARE D;       150    -
Industries
Issuer not cooperating; based on best available information
Rishikesh Structural Solutions Llp   LT BkFac          CARE B+;      67.1   Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable
Issuer not cooperating; based on best available information
Sangam Handicraft Pvt Ltd            LT Bk Fac         CARE D;       58     Revised from
                                                                            CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
Santosh Pulse Mill                   LT BkFac          CARE B;       60     Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Sanwariya Impex Pvt Ltd              LT Bk Fac         CARE B;       47     Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Scm Silks Pvt Ltd                    LT Bk Fac         CARE BBB+;    500    -
                                                       Stable;
Issuer not cooperating; based on best available information
Shivam Traders                       LT Bk Fac         CARE BBB+;    1500   -
                                                       Stable;
Issuer not cooperating; based on best available information
Shree Mangal Trading Company         LTBk Fac          CARE B-;      150    Revised from
                                                                            CARE B;
Issuer not cooperating; based on best available information
Shree Ramkrishna Exports Pvt Ltd     LT / ST Bk Fac    CARE A;       15500  Revised from
                                                       Negative/CARE        CARE A;
                                                       A2+                  Stable/CARE A2+
Shrishaila Electricals (India) Pvt   Long -term BkFac  CARE B+;      30     -
Ltd                                                    Stable;
Issuer not cooperating; based on best available information
Shrivallabh Pittie Industries Ltd    LT Bk Fac –       -             1400   -
                                     CC/LC/BG
Issuer not cooperating; based on best available information
Shrivallabh Pittie Industries Ltd    LT Bk Fac – TL    CARE B;       1917.9 -
                                                       Stable,
Skf Boilers And Driers Pvt Ltd       Long -term BkFac  CARE BB-;     26     Revised from
                                                       Stable;              CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
Skv Infratech Pvt Ltd                LTBk Fac          CARE B;       35     Revised from
                                                                            CARE B+;
Issuer not cooperating; based on best available information
Sri Savitr Solar Pvt Ltd             Long -term BkFac  CARE BB-;     370    Revised from
                                                       Stable,              CARE BB;
                                                                            Stable
Issuer not cooperating; based on best available information
Thane Steels Ltd                     LT Bk Fac         CARE BB-;stabl278.4  Rating
                                                                            revised from
                                                                            CARE BB; stable
Issuer not cooperating; based on best available information
Thane Steels Ltd                     Long/ ST facility CARE          21.5   Rating
                                                       BB-;stable           revised from
                                                       /CARE A4             CARE BB; stable
/CARE A4
Issuer not cooperating; based on best available information
The Chennai Silks                    LT Bk Fac         CARE BBB+;    500    -
                                                       Stable;
Issuer not cooperating; based on best available information
Thrissur Expressway Ltd              LT Bk Fac         CARE D;       5051.8 Reaffirmed
Uday Autolink Pvt Ltd                LT Bk Fac         CARE D;       345.9  -
Issuer not cooperating; based on best available information
Vip Enterprise Pvt Ltd               LT Bk Fac         CARE B+;      55     Reaffirmed
                                                       Stable
Yantra Esolar India Pvt Ltd          LT Bk Fac         CARE B;       156.3  -
                                                       Stable;
Issuer not cooperating; based on best available information (reduced from 19.81 Crore)
Yantra Esolar India Pvt Ltd          LT Bk Fac         CARE B;       156.3  -
                                                       Stable;
Issuer not cooperating; based on best available information (reduced from 19.81 Crore)
Yogesh Choudhary                     LT /ST Bk Fac     CARE C;       98.2   Revised from
                                                       Stable/CARE A4;      CARE BB;
                                                                            Stable/CARE A4;
Issuer not cooperating; based on best available information
Yogesh Choudhary                     LT BkFac          CARE C;       51.8   Revised from
                                                       Stable;              CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
Zigma Global Environ Solutions Pvt   LT Bk Fac         CARE BBB;     488.8  Revised from
Ltd                                                    Stable               CARE BBB-;
                                                                            Stable
(reduced from 57.42 Crore)
-------------------------------------------------------------------------------------------
$: 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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