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CARE ratings for Indian debt instruments-Nov 3

    Nov 3  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local
debt instruments as of November 2, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aastrid Life Sciences Pvt Ltd         ST Bk Fac          CARE A4;       35      Revised from
                                                                                CARE A3
moved to (Issuer Not Cooperating) category
Asha Enterprise_Siliguri              ST BkFac           CARE A4;       3       -

Rating moved to (Issuer Not Cooperating) Gcategory
Bhumi Plastic Pipes Pvt Ltd           ST Bk Fac          CARE A4;       10      -
Rating continues to remain under (Issuer Not Cooperating) category
Eminent Dealers Pvt Ltd               ST Bk Fac          CARE A3        7.7     Reaffirmed
(Enhanced from 0.41 Crore)
Goldstar Polymers Ltd                 ST Bk Fac          CARE D;        2.5     -
(Issuer Not Cooperating)
Gurunanak Rice Industries             ST Bk Fac          CARE A4;       30      -
Rating continues to remain under (Issuer Not Cooperating) category
Innovision Ltd                        ST Bk Fac          CARE A3        45      Reaffirmed
Jeyenkay Petrogels Pvt Ltd            ST Bk Fac          CARE A4        156     Reaffirmed
Kerala Balers Pvt Ltd                 ST BkFac           CARE A4;       120     -
Rating moved to (Issuer Not Cooperating) category
Lumens Aircon Pvt Ltd                 ST Bk Fac          CARE A4;       35      -
Rating continues to remain under (Issuer Not Cooperating) category
Maharaja Shree Umaid Mills Ltd        ST Bk Fac          CARE A4        10      Assigned
Maharaja Shree Umaid Mills Ltd        ST Bk Fac          CARE A4        20      Reaffirmed
(Reduced from 5.00 Crore)
Maharashtra Electro Mechanical Works  ST Bk Fac          CARE A4;       10      -
Pvt Ltd
Rating continues to remain under (Issuer Not Cooperating) category
Mohan Spintex India Ltd               ST Bk Fac          CARE A3        146     Revised from
                                                                                CARE A3+
(Placed on Credit watch with DevelopingImplications)
Oasis Tradelink Ltd                   ST Bk Fac          -              -      Withdrawn
Paladiya Brothers & Company           ST Bk Fac          CARE A4+       65      Reaffirmed
Patnaik Minerals Pvt Ltd              ST Bk Fac          CARE A2        1475.5  Reaffirmed
(reduced from 350.00crs) 
Primo Fashions                        ST Bk Fac          CARE A4;       75.5    -
Rating moved to (Issuer Not Cooperating) category
Ratnagiri Seeds And Farm              ST BkFac           CARE A4;       50      -
Rating continues to remain under (Issuer Not Cooperating )category
Reliance Retail Finance Ltd           ST Bk Fac TL       CARE A1+       124500  Assigned
Reliance Retail Finance Ltd           Proposed ST BkFac- ProvCARE A1+   13500   Assigned
                                      TL #
# The final rating will be contingent upon the receipt of executed transaction documents
conforming to the information already received by CARE
Restoration Engineers                 ST Bk Fac          CARE A4;       67.5    -
Rating continues to remain under (Issuer Not Cooperating) category
Sanghvi Forging & Engineering Ltd     ST Bk Fac          -              -       Withdrawn
Santhoshimathaa Edible Oils Refinery  ST Bk Fac          -              -       Withdrawn at
Pvt Ltd                                                                         CARE A4+
(Issuer Not Cooperating)
Shrinet And Shandilya Construction PvtST Bk Fac          CARE D;        320     Revised from
Ltd                                                                             CARE A4;
(Issuer Not Cooperating)
Smart Stainless Tubes Pvt Ltd         ST BkFac           CARE A4;       2.5     Revised from
                                                                                CARE A4+        
                                                                                    
moved to(Issuer Not Cooperating) category
Tirupati Basmati Exports Pvt Ltd      ST Bk Fac          -              -       Withdrawn
Virat Alloys Pvt Ltd                  ST Bk Fac          CARE A4        10      -
Rating continues to remain under (Issuer Not Cooperating) category
 

MEDIUM TERM RATINGS:
-------------------
Paranjape Schemes (Construction) Ltd  Fixed Deposits     CARE C (FD);   550     -
Rating continues to remain under (Issuer Not Cooperating); Based on best available information

LONG TERM RATINGS:
------------------
Aarti Surfactants Ltd                 Redeemable PS      CARE BBB-      185     Reaffirmed
                                                         (RPS); Stable
Aarti Surfactants Ltd                 LT Bk facility – TLCARE BBB;      700     Reaffirmed
                                                         Stable
(Enhanced from Rs. 30.00 Crore)
Aarti Surfactants Ltd                 LT Bk facility – CCCARE BBB;      950     Reaffirmed
                                                         Stable
(Enhanced from Rs. 70.00 Crore)
Aastrid Life Sciences Pvt Ltd         LT Bk Fac          CARE BB+;      115     Revised from
                                                         Stable                 CARE BBB-;
                                                                                Stable
moved to (Issuer Not Cooperating) category
Arjan Dass And Sons Pvt Ltd           Long/ST BkFac      CARE B+;       30      Revised from
                                                         Stable/CARE A4;        CARE BB-;
                                                                                Stable/CARE A4
moved to(Issuer Not Cooperating) category
Arjan Dass And Sons Pvt Ltd           LT Bk Fac          CARE B+;       100     Revised from
                                                         Stable;                CARE BB-;
                                                                                Stable
moved to(Issuer Not Cooperating) category
Asha Enterprise_Siliguri              LT Bk Fac          CARE B; Stable;86.5    Revised from
                                                                                CARE B+;Stable
Rating moved to (Issuer Not Cooperating) category
Avirat Shilaj Project                 LT Bk Fac          CARE B+; Stable300     Revised from
                                                                                CARE BB-;
                                                                                Stable
(Issuer Not Cooperating)
Bewakoof Brands Pvt Ltd               LT Bk Fac          CARE BB; Stable196.6   Revised from
                                                                                CARE BB+;
                                                                                Stable;
(Issuer Not Cooperating)
Bhumi Plastic Pipes Pvt Ltd           LT Bk Fac          CARE B-; Stable90      Revised from
                                                                                CARE B; Stable
(Issuer Not Cooperating)
Bisi Engineering                      LT Bk Fac          CARE B-;       70      Revised from
                                                         Stable;                CARE B; Stable
(Issuer Not Cooperating)
Bmw Iron & Steel Industries Ltd       LT Bk Fac (TL)     --             0       Withdrawn
Catwalk Worldwide Pvt Ltd             LT Bk Fac          -              -       Withdrawn
Eminent Dealers Pvt Ltd               LT Bk Fac          CARE BBB-;     14      Assigned
                                                         Stable
Eminent Dealers Pvt Ltd               LT Bk Fac          CARE BBB-;     161.4   Reaffirmed
                                                         Stable
(Enhanced from 8.75 Crore)
Eminent Dealers Pvt Ltd               LT / ST Bk Fac     CARE BBB-;     140     Reaffirmed
                                                         Stable /CARE A3
Fabrico India Pvt Ltd                 LT Bk Fac          CARE B;        395     -
                                                         Stable;
Rating continues to remain under (Issuer Not Cooperating) category
Goldstar Polymers Ltd                 LT/ST Bk Fac       CARE D/CARE D; 70      -
(Issuer Not Cooperating)
Gujarat Colourlam Pvt Ltd             LT Bk Fac          CARE BB;       148.5   Revised from
                                                         Stable;                CARE BB+;
                                                                                Stable
(Issuer Not Cooperating)
Gurudeo Datta Construction Co         LT Bk Fac          CARE B-;       60      Revised from
                                                         Stable;                CARE B; Stable
Rating continues to remain under (Issuer Not Cooperating) category
Gurunanak Rice Industries             LT Bk Fac          CARE B; Stable 40      -
Rating continues to remain under (Issuer Not Cooperating) category
Hari Om Retail Pvt Ltd                LT Bk Fac          CARE B-;       100     Revised from
                                                                                CARE B
Rating continues to remain under (Issuer Not Cooperating) category
Innovision Ltd                        LT Bk Fac          CARE BBB-;     240     Reaffirmed
                                                         Stable
Innovision Ltd                        LT / ST Bk Fac     CARE BBB-;     135     Reaffirmed
                                                         Stable /CARE A3
(Enhanced from 6.50 Crore)
Jeyenkay Petrogels Pvt Ltd            LT Bk Fac          CARE BB-;      44      Reaffirmed
                                                         Stable
Kerala Balers Pvt Ltd                 Long               CARE BB;       120     -
                                      –term/Shortterm Bk Stable /CARE
                                      Fac                A4;
Rating moved to (Issuer Not Cooperating) category
Khushiya Industries Pvt Ltd           LT Bk Fac          -              -       Withdrawn
L. N. Fields Pvt Ltd                  LT Bk Fac          CARE B-;       160     Reised from
                                                         Stable;                CARE B;
                                                                                Stable;
(Issuer Not Cooperating)
Lumens Aircon Pvt Ltd                 LT Bk Fac          CARE B+;       37.5    -
Rating continues to remain under (Issuer Not Cooperating) category
Maharaja Shree Umaid Mills Ltd        LT Bk Fac          CARE BB;       26      Assigned
                                                         Stable
Maharaja Shree Umaid Mills Ltd        LT Bk Fac          CARE BB;       119.1   Reaffirmed
                                                         Stable
Maharaja Shree Umaid Mills Ltd        LT / ST Bk Fac     CARE BB;       730     Reaffirmed
                                                         Stable /CARE A4
(Enhanced from 70.00 Crore)
Maharashtra Electro Mechanical Works  LT Bk Fac          CARE B+;       70      Revised from
Pvt Ltd                                                  Stable;                CARE BB;
                                                                                Stable
Rating continues to remain under (Issuer Not Cooperating) category
Mahesh Oil Industries                 LT Bk Fac          CARE BB+;      461.8   Reaffirmed
                                                         Stable
(reduced from 47.56 Crore)
Makro Cast Pvt Ltd                    LT Bk Fac          CARE D;        360     -
Rating continues to remain under (Issuer Not Cooperating) category
Mohan Spintex India Ltd               LT Bk Fac          CARE BBB-      5763.6  Revised from
                                                                                CARE
                                                                                BBB;Stable
(Placed on Credit watch with Developing Implications)
Oasis Tradelink Ltd                   LT Bk Fac          -              -       Withdrawn

Ozone Infra Projects                  LT Bk Fac          CARE D         60      -
Rating continues to remain under (Issuer Not Cooperating) category
P Padma Rural Godowns                 LT Bk Fac          CARE D;        97.9    -
Rating moved to (Issuer Not Cooperating) category
Paladiya Brothers & Company           LT Bk Fac          CARE BB+;      400     Reaffirmed
                                                         Stable
Panchvati Valves & Flanges Pvt Ltd    LT / ST Bk Fac     CARE B-;       40      Revised from
                                                         Stable /CARE           CARE B;
                                                         A4;                    Stable /CARE A4;
Rating continues to remain under (Issuer Not Cooperating) category
Panchvati Valves & Flanges Pvt Ltd    LT Bk Fac          CARE B-;       20      Revised from
                                                         Stable;                CARE B; Stable
Rating continues to remain under (Issuer Not Cooperating) category
Paranjape Schemes (Construction) Ltd  NCDs               CARE C;        1750    -
Rating continues to remain under (Issuer Not Cooperating); Based on best available information
Pn Clean Energy Ltd                   LT BkFac           CARE A-;       744.6   Revised from
                                                         Stable                 CARE D ;
                                                                                Stable outlook
                                                                                assigned
Rating removed from Issuer Not Cooperating) category/(Reduced from 89.43crs)
Pn Renewable Energy Ltd               LT BkFac           CARE A-;       359.5   Revised from
                                                         Stable                 CARE D ;
                                                                                Stable outlook
                                                                                assigned
Rating removed from (Issuer Not Cooperating) category
Prachar Communications Pvt Ltd        LT                 CARE B+;       300     Revised from
                                                         Stable;                CARE BB+;
                                                                                Stable
(Issuer Not Cooperating)
Primo Fashions                        LT Bk Fac          CARE B+;       29.5    Revised from
                                                         Stable;                CARE BB-;
                                                                                Stable
(Issuer Not Cooperating)
Raheja Developers Ltd                 LT Bk Fac          CARE D;        11716.4 -
(Issuer Not Cooperating); Based on best available information
Ratnagiri Seeds And Farm              LT BkFac           CARE B-;       50      Revised from
                                                         Stable;                CARE B;
                                                                                Stable;
(Issuer Not Cooperating)
Restoration Engineers                 LT / ST Bk Fac     CARE B; Stable 50      Revised from
                                                         /CARE A4;              CARE BB-;
                                                                                Stable/ CARE A4;
(Issuer Not Cooperating)
Royalline Resources Ltd               LT/Shortterm BkFac CARE B+;       1300    Revised from
                                                         Stable /CARE           CARE BB-;
                                                         A4;                    Stable/ CARE A4;
(Issuer Not Cooperating)
Sanghvi Forging & Engineering Ltd     LT Bk Fac          -              -       Withdrawn
Sanghvi Forging & Engineering Ltd     LT/ ST Bk Fac      -              -       Withdrawn
Santhoshimathaa Edible Oils Refinery  LT Bk Fac          -              -       Withdrawn at
Pvt Ltd                                                                         CARE BB+;
                                                                                Stable
(Issuer Not Cooperating)
Shrinet And Shandilya Construction PvtLT Bk Fac          CARE D;        30      Revised from
Ltd                                                                             CARE B-;
                                                                                Stable
(Issuer Not Cooperating)
Smart Stainless Tubes Pvt Ltd         LT BkFac           CARE BB-;      117.4   Revised from
                                                         Stable;                CARE BB;
                                                                                Stable
(Issuer Not Cooperating)
Sopan Paper Mill Pvt Ltd              LT Bk Fac          CARE BB-;      38.3    Revised from
                                                         Stable                 CARE
                                                                                B-;Stable
                                                                               outlook assigned
Rating removed from (Issuer Not Cooperating) category/(Reduced from 6.97crs)
Sopan Paper Mill Pvt Ltd              LT / ST Bk Fac     CARE BB-;      76*     Revised from
                                                         Stable/CARE A4         CARE A4;
                                                                                Stable outlook
                                                                                assigned
Rating removed from (Issuer Not Cooperating) category/*reclassified from ST to LT/ST
Sopan Paper Mill Pvt Ltd              LT / ST Bk Fac     CARE BB-;      60      Revised from
                                                         Stable/CARE A4         CARE B- /CARE
                                                                                A4 Stable
                                                                                outlook assigned
Rating removed from (Issuer Not Cooperating) category
Sri Balaji Trading Corporation        LT Bk Fac          CARE C;        60      Revised from
                                                                                CARE B
(Issuer Not Cooperating)
The Incoda                            LT BkFac           CARE B+; Stable141.5   Revised from
                                                                                CARE BB-;
                                                                                Stable;
(Issuer Not Cooperating)
Tirupati Basmati Exports Pvt Ltd      LT Bk Fac          -              -       Withdrawn
Tirupati Basmati Exports Pvt Ltd      LT/ ST Bk Fac      -              -       Withdrawn
Unnati Fortune Hotmart Pvt Ltd        LT Bk Fac          CARE D;        250     -
Rating continues to remain under (Issuer Not Cooperating) category
Vaishnavi Bio-Tech Ltd                LT Bk Fac          CARE B-        244.5   Revised from
                                                                                CARE BB-
Rating continues to remain under (Issuer Not Cooperating) category
Vinayak Marine Services Pvt Ltd       LT Bk Fac          CARE BB; Stable115.1   Reaffirmed
(enhanced from 4.21 Crore)
Virat Alloys Pvt Ltd                  LT / ST Bk Fac     CARE B+;       87      Revised from
                                                         Stable /CARE           CARE BB-;
                                                         A4;                    Stable / CARE A4
(Issuer Not Cooperating)
Virat Alloys Pvt Ltd                  LT Bk Fac          CARE B+;       109     Revised from
                                                         Stable;                CARE BB-;
                                                                                Stable
(Issuer Not Cooperating)
Vishwanath Singh Enterprise           LT Bk Fac          CARE B; Stable 30      Assigned
Vishwanath Singh Enterprise           LT / ST Bk Fac     CARE B; Stable 25      Assigned
                                                         /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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