October 18, 2019 / 9:06 AM / 4 months ago

CARE ratings for Indian debt instruments-Oct 18

    Oct 18 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 17, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aajkaal Publishers Pvt Ltd            ST BkFac           CARE A4        110     -
(Issuer not cooperating on the basis of best available information )
Akash Steel Crafts Pvt Ltd            ST Bk Fac          CARE A4        60      Reaffirmed
Alfa Transformers Ltd                 ST Bk Fac          CARE A4        118     Assigned
Anmol (India) Ltd                     ST Bk Fac          -              -       Reaffirmed at
                                                                                CARE A4+ and
                                                                                withdrawn
Ami Lifesciences Pvt Ltd              ST BkFac           CARE A3+       175     Reaffirmed
Barmer Lignite Mining Co. Ltd.        ST Bk limits       CARE A1+       39970   -
(Placed on Credit watch with Negative Implications)
Barmer Lignite Mining Co. Ltd.        CPIssue            CARE A1+       7000    Reaffirmed
G. R. Weavers Pvt Ltd                 ST Bk Fac          CARE A4        50      Reaffirmed
Greeneries Agro Pvt Ltd               ST Bk Fac          CARE A4        25      -
(Issuer not cooperating on the basis of best available information )
Iifl Wealth Finance Ltd               CP (IPO Financing) CARE A1+       50000   Assigned
Innovision Ltd                        ST Bk Fac          CARE A3        45      Assigned
Jaigad Powertransco Ltd.              ST Bk limits       CARE A1+       39970   -
(Placed on Credit watch with Negative Implications)
Jaigad Powertransco Ltd.              ST Bk limits       CARE A1+       1340    -
(Placed on Credit watch with Negative Implications)
Jaigad Powertransco Ltd.              CPIssue            CARE A1+       1000    Reaffirmed
Jaigad Powertransco Ltd.              CPIssue            CARE A1+       7000    Reaffirmed
Joy Ma Lakshmi Cold Storage Pvt Ltd   ST Bk Fac          CARE A4        1       -
(Issuer not cooperating on the basis of best available information )
Jsw Energy (Barmer) Ltd               ST Bk limits       CARE A1+       1340    -
(Placed on Credit watch with Negative Implications)
Jsw Energy (Barmer) Ltd               CP Issue           CARE A1+       1000    Reaffirmed
Jsw Energy (Barmer) Ltd               ST Bk limits       CARE A1+       1340    -
(Placed on Credit watch with Negative Implications)
Jsw Energy (Barmer) Ltd               CP Issue           CARE A1+       1000    Reaffirmed
Jsw Energy Ltd                        ST Bk limits       CARE A1+       39970   -
(Placed on Credit watch with Negative Implications)
Jsw Energy Ltd                        CPIssue            CARE A1+       7000    Reaffirmed
Jsw Hydro Energy Ltd.                 ST Bk limits       CARE A1+       39970   -
(Placed on Credit watch with Negative Implications)
Jsw Hydro Energy Ltd.                 CPIssue            CARE A1+       7000    Reaffirmed
Jsw Power Trading Co. Ltd.            ST Bk limits       CARE A1+       39970   
(Placed on Credit watch with Negative Implications)
Jsw Power Trading Co. Ltd.            CPIssue            CARE A1+       7000    Reaffirmed
Patanjali Ayurved Ltd                 ST BkFac           -              -       Reaffirmed at
                                                                                CARE A2+
Withdrawn*
*At the request of the company vide email dated October 11, 2019 along with ‘No Objection
Certificate’/emails received from the bank(s) for no objection for withdrawal; we hereby
withdraw the outstanding rating(s) assigned to the ST and LT/ST bank facility of your company
with immediate effect.
P.A.R.K Felts Pvt Ltd                 ST Bk Fac          CARE A4        25      Reaffirmed
Shir Commodities & Futures Pvt Ltd    ST Bk Fac          CARE A4        450     Reaffirmed
Shri Rajendra Kumar Kalal             ST BkFac           CARE A4+       130     Reaffirmed
Topsia Estate Pvt Ltd                 ST Bk Fac          CARE A4        70      Reaffirmed
Trf Ltd                               ST BkFac           CARE A2        700     -
(Revised from CARE BBB+; Negative/ CARE A2)
Viraj Syntex Pvt Ltd                  ST Bk Fac          CARE A4        15.8    Reaffirmed


LONG TERM RATINGS:
-------------------
Aajkaal Publishers Pvt Ltd            LT BkFac           CARE B         100.4   Revised from
                                                                                CARE B+
(Issuer not cooperating on the basis of best available information )
Abu Estate Pvt Ltd                    Long -term BkFac   CARE B-        133     Revised from
                                                                                CARE B
(Issuer not cooperating on the basis of best available information )
Airtec Electrovision Pvt Ltd          Long/ ST BkFac     CARE B/A4      10      -
(Issuer not cooperating on the basis of best available information )
Airtec Electrovision Pvt Ltd          LT BkFac           CARE B/ISSUER  80      -
                                                         NOT
                                                         COOPERATING  
(Issuer not cooperating on the basis of best available information )
Akash Steel Crafts Pvt Ltd            LT Bk Fac          CARE BB-       64.5    Revised from
                                                                                CARE BB;
                                                                                Stable
Akashganga Broiler Breeding Farm Pvt  LT Bk Fac          CARE BB-       60.8    Reaffirmed
Alfa Transformers Ltd                 LT Bk Fac          CARE B+        89.4    Assigned
Ami Lifesciences Pvt Ltd              LT BkFac           CARE BBB;      606.8   Reaffirmed
                                                         Positive
Ami Lifesciences Pvt Ltd              LT / ST Bk Fac     CARE BBB;      515     Reaffirmed
                                                         Positive/ A3+
Anmol (India) Ltd                     LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BB+;
                                                                                Stable
Aryodaya Sales Pvt Ltd                LT Bk Fac Total    -              -
                                      Fac
(Reaffirmed at CARE BB+; Stable; Issuer not cooperating and Withdraw)
Barmer Lignite Mining Co. Ltd.        LT Bk limits       CARE AA-       35824.9 -
(Placed on Credit watch with Negative Implications)
Barmer Lignite Mining Co. Ltd.        NCDs Issues        CARE AA-       19000   -
(Placed on Credit watch with Negative Implications)
Centrum Financial Services Ltd        CP Issue           -              -       Withdrawn
Cucku Enterprises Pvt Ltd             LT BkFac           CARE B / Stable75      Revised
                                                                                fromCARE B+;
                                                                                Stable
(Issuer not cooperating on the basis of best available information )
Cucku Enterprises Pvt Ltd             LT/Shortterm Bk FacCARE B /       65      Revised
                                                         Stable / A4            fromCARE B+;
                                                                                Stable/ A4
(Issuer not cooperating on the basis of best available information )
Dhanraj Dhadda & Sons                 LT Bk Fac          CARE BB-       150
(Rating reaffirmed and outlook revised fromStable to Negative)
Enersan Power Pvt Ltd                 LT BkFac           CARE BB+;      423.5   Revised from
                                                         Negative               CARE BBB-;
                                                                                Negative
Fpl Automobiles Pvt Ltd               Long -term Bk Fac  CARE B+ /      130     -
                                                         Stable
(Issuer not cooperating on the basis of best available information )
G. R. Weavers Pvt Ltd                 LT Bk Fac          CARE BB-       126.8   Reaffirmed
Greeneries Agro Pvt Ltd               LT Bk Fac          CARE C         100     Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer not cooperating on the basis of best available information )
Innovision Ltd                        LT Bk Fac          CARE BBB-      240     Assigned
Innovision Ltd                        LT/ST BkFac        CARE BBB-/A3   65      Assigned
Jaigad Powertransco Ltd.              LT Bk limits       CARE AA-       35824.9 -
(Placed on Credit watch with Negative Implications)
Jaigad Powertransco Ltd.              NCDs Issues        CARE AA-       19000   -
Jaigad Powertransco Ltd.              LT Bk limits       CARE AA-       29566.2 -
(Placed on Credit watch with Negative Implications)
Jmc Projects (India) Ltd              LT instrument - NCDCARE A+; Stable1000    Assigned
Joy Ma Lakshmi Cold Storage Pvt Ltd   LT Bk Fac          CARE B+ /      75      -
                                                         Stable
(Issuer not cooperating on the basis of best available information )
Jsw Energy (Barmer) Ltd               LT Bk limits       CARE AA-       29566.2 -
(Placed on Credit watch with Negative Implications)
Jsw Energy (Barmer) Ltd               LT Bk limits       CARE AA-       29566.2 -
(Placed on Credit watch with Negative Implications)
Jsw Energy Ltd                        LT Bk limits       CARE AA-       35824.9 -
(Placed on Credit watch with Negative Implications)
Jsw Energy Ltd                        NCDs Issues        CARE AA-       19000   -
(Placed on Credit watch with Negative Implications)
Jsw Hydro Energy Ltd.                 LT Bk limits       CARE AA-       35824.9 -
(Placed on Credit watch with Negative Implications)
Jsw Hydro Energy Ltd.                 NCDs Issues        CARE AA-       19000   -
(Placed on Credit watch with Negative Implications)
Jsw Power Trading Co. Ltd.            LT Bk limits       CARE AA-       35824.9 -
(Placed on Credit watch with Negative Implications)
Jsw Power Trading Co. Ltd.            NCDs Issues        CARE AA-       19000   -
(Placed on Credit watch with Negative Implications)
K. L. Ice And Cold Storage            LT BkFac           CARE B / Stable60.6    Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer not cooperating on the basis of best available information )
Kingswood Industries Pvt Ltd          LT Bk Fac          CARE BB+       1200    Assigned
Kingswood Industries Pvt Ltd          Issuer             CARE BB+ (Is)* -       Assigned
                                      Rating-Issuer
                                      Ratings
*subject to overall gearing not exceeding 4.32x (expected level as on March 31, 2020).
Majumder Agro Industries Pvt Ltd      LT BkFac           CARE B+ /      150     Revised from
                                                         Stable                 CARE
                                                                                BB-;Stable
(Issuer not cooperating on the basis of best available information )
Mnc Electricals Pvt Ltd               LT BkFac           CARE B / Stable70      Revised from
                                                                                CARE B+ ;
                                                                                Stable
(Issuer not cooperating on the basis of best available information )
Mnc Electricals Pvt Ltd               Long/ ST Bk Fac    CARE B/A4      120     Revised from
                                                                                CARE B+ ;
                                                                                Stable/ A4
(Issuer not cooperating on the basis of best available information )
Nuziveedu Seeds Ltd                   LT Bk Fac          CARE A+        2100    -
(Placed on Credit Watch with Negative Implications)
P.A.R.K Felts Pvt Ltd                 LT Bk Fac          CARE BB /      58.7    Reaffirmed
                                                         Stable
P.A.R.K Felts Pvt Ltd                 LT/ST BkFac        CARE BB /      46.3    Reaffirmed
                                                         Stable / A4
Patanjali Ayurved Ltd                 LT/ST Bk Fac-      -              -       Reaffirmed at
                                      Non-fund based                            CARE A-/ CARE
                                                                                A2+
Withdrawn* / 
*At the request of the company vide email dated October 11, 2019 along with ‘No Objection
Certificate’/emails received from the bank(s) for no objection for withdrawal; we hereby
withdraw the outstanding rating(s) assigned to the ST and LT/ST bank facility of your company
with immediate effect.
Patanjali Ayurved Ltd                 LT BkFac           CARE A-        800     Reaffirmed
Pck Cotton Pvt Ltd                    LT/ ST Bk Fac      CARE B /A4     240     Revised from
                                                                                CARE B+/
                                                                                Stable
(Issuer not cooperating on the basis of best available information )
Phoenix Projects Pvt Ltd              LT Bk Fac          CARE BBB-      60      Reaffirmed
Phoenix Projects Pvt Ltd              LT / ST Bk Fac     CARE BBB-/CARE 490     Reaffirmed
                                                         A3
Ram Cotex                             LT Bk Fac          CARE B+/ Stable65      Reaffirmed
Regency Exports Pvt Ltd               LT Bk Fac          CARE BB        124.4   -
(Issuer not cooperating; Based on best available information)
Rukson Packaging Pvt Ltd              LT Bk Fac          CARE B+        121     Revised from
                                                                                CARE BB-
(Issuer not cooperating; Based on best available information)
Shir Commodities & Futures Pvt Ltd    LT Bk Fac          CARE BB-       28      Reaffirmed
Shri Paharimata Cold Storage Pvt Ltd  LT Bk Fac          CARE B-/ Stable64.2    Assigned
Shri Rajendra Kumar Kalal             LT Bk Fac          CARE BB+/      50      Reaffirmed
                                                         Stable
Surya Roshni Ltd                      LT Bk Fac          CARE A+        14103.3 Reaffirmed
Surya Roshni Ltd                      Long/ST BkFac – NFBCARE A+/A1     13083.2 Reaffirmed
Topsia Estate Pvt Ltd                 LT Bk Fac          CARE BB; Stable10      Reaffirmed
Trf Ltd                               LT BkFac           CARE BBB+      2941.6  Reaffirmed
Trf Ltd                               LT/Shortterm Bk    CARE BBB+/A2   7080    Reaffirmed
                                      Fac
Viraj Syntex Pvt Ltd                  LT Bk Fac          CARE BB-/      73.7    Reaffirmed
                                                         Stable
Viraj Syntex Pvt Ltd                  LT/ST BkFac        CARE BB-/      13.5    Reaffirmed
                                                         Stable / A4
Zyfix Tools Pvt Ltd                   LT Bk Fac          CARE BB ;      75.4    Reaffirmed
                                                         Stable
--------------------------------------------------------------------------------------------
$: 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@thomsonreuters.com)
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