October 29, 2019 / 9:15 AM / 21 days ago

CARE ratings for Indian debt instruments-Oct 29

    Oct 29 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 25, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agarwal Tmt Industries Pvt Ltd        STBk Fac           CARE A4        8
(Issuer Not Cooperating)
Aksharchem (India) Ltd                ST BkFac           CARE A1+       60      Reaffirmed
Asahi Songwon Colors Ltd              ST Bk Fac          CARE A1+       420     Reaffirmed

Asahi Songwon Colors Ltd              CP (Carved out of  CARE A1+       200     Reaffirmed
                                      Sanctioned fund
                                      based working capital limits)
Florida Electrical Industries Ltd     ST Bk Fac          CARE A4        15.6    Reaffirmed
Fourrts (India) Laboratories Pvt Ltd  ST Bk Fac          CARE A2+       250     Assigned
Garg Aluminio Pvt Ltd                 ST Bk Fac          CARE D         30
(Issuer Not Cooperating)
Gita Devi Flour Mills Pvt Ltd         ST Bk Fac          CARE A4        61.1    Assigned
Hubtown Bus Terminal (Ahmedabad) Pvt LST Bk Fac          CARE D         275.5
(Issuer Not Cooperating)
Ideas Engineers                       STBk Fac           CARE A4        75
(Issuer Not Cooperating)
Khedut Solvexp Pvt Ltd                ST Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Maharaja Cotspin Ltd                  ST BkFac           CARE A4        156
(Issuer Not Cooperating)
Mahaveer Ginning And Pressing Factory STBk Fac           CARE A4        9
(Issuer Not Cooperating)
Meatech Solutions Llp                 ST Bk Fac          CARE A4+       130     Assigned
Membrane Filters (India) Pvt Ltd      ST BkFac           CARE A4        100
(Issuer Not Cooperating)
Navjivan Polyfab Pvt Ltd              ST Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
N. P. Construction                    ST BkFac           CARE A4Four;   40
(Issuer Not Cooperating)
Nilkamal Bito Storage Systems Pvt Ltd ST Bk Fac          CARE A1        252.5   Reaffirmed

LONG TERM RATINGS:
-------------------
Agarwal Tmt Industries Pvt Ltd        LTBk Fac           CARE BB        331.4
(Issuer Not Cooperating)/(reduced from Rs.35.44 Crore)
Aksharchem (India) Ltd                Long- Term/STBk FacCARE A+;       400     Reaffirmed
                                                         Stable/CARE A1+
Asahi Songwon Colors Ltd              LT Bk Fac          CARE AA-;      212.5   Reaffirmed
                                                         Stable
(reduced from 22.50 Crore)
Asahi Songwon Colors Ltd              Long- Term/ST      CARE AA-;      660     Reaffirmed
                                      BkFac              Stable/CARE A1+
Bhanushri Realities                   LT Bk Fac          CARE D         90.2    Revised from
                                                                                CARE BB-;
                                                                                Stable
Chettinad International Bulk Terminal LT/ ST Bk Fac      CARE BBB-;     150     Assigned
Pvt Ltd                                                  Stable/CARE A3
Chowdary Spinners Ltd                 LT Bk Fac          CARE BB-;      503.2   Reaffirmed
                                                         Stable
Florida Electrical Industries Ltd     LT Bk Fac          CARE B+;       100     Revised from
                                                         Stable                 CARE BB-
Florida Electrical Industries Ltd     LT/ST BkFac        CARE B+;       94.4    Revised from
                                                         Stable/CARE A4         CARE BB-;
                                                                                Stable/CARE A4
Fortune Spirit Ltd                    LT Bk Fac          CARE B; Stable 150     Assigned
Fourrts (India) Laboratories Pvt Ltd  LT Bk Fac          CARE BBB+;     390     Assigned
                                                         Positive
Fourrts (India) Laboratories Pvt Ltd  LT/ ST BkFac       CARE BBB+;     400     Assigned
                                                         Positive/CARE
                                                         A2+
Garg Aluminio Pvt Ltd                 LT Bk Fac          CARE D         61.4
(Issuer Not Cooperating)
Gita Devi Flour Mills Pvt Ltd         LT Bk Fac          CARE B; Stable 40      Assigned
Hbs View Pvt Ltd                      LT Bk Fac          CARE D         1000
(Issuer Not Cooperating)
Hubtown Bus Terminal (Adajan) Pvt Ltd LT Bk Fac          CARE D         416.7
(Issuer Not Cooperating)
Hubtown Bus Terminal (Ahmedabad) Pvt LLT Bk Fac – TL     CARE D         1000
(Issuer Not Cooperating)
Ideas Engineers                       Long- termBk Fac   CARE BB        50
(Issuer Not Cooperating)
Jaybajrang Agro Processing Pvt Ltd    Long- term BkFac   CARE B+        50
(Issuer Not Cooperating)
Kaadambary Ricetech Pvt Ltd           LT Bk Fac          CARE D         145
(Issuer Not Cooperating)
Kanak Ginning                         LT BkFac           CARE B; Stable 67.7
(Issuer Not Cooperating)
Kanase Autowheels Pvt Ltd             LT BkFac           CARE B+        150
(Issuer Not Cooperating)
Khanapur Taluka Co-Op Spinning Mills  Long- termBk Fac   CARE B         233.1
Pvt Ltd
(Issuer Not Cooperating)
Khedut Solvexp Pvt Ltd                LT Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Kothari Prima Pvt Ltd                 Long- term BkFac   CARE B         200
(Issuer Not Cooperating)
Maharaja Cotspin Ltd                  LT Bk Fac(Fund     CARE C;        100
                                      Based- CashCredit) Negative
(Issuer Not Cooperating)
Maharaja Cotspin Ltd                  LT Bk Fac(Fund     CARE C;        11
                                      Based – Line       Negative
                                      ofCredit)
(Issuer Not Cooperating)
Maharaja Cotspin Ltd                  LT Bk Fac (Fund    CARE D         176.4
                                      Based- TL)
(Issuer Not Cooperating)
Mahaveer Ginning And Pressing Factory LTBk Fac           CARE B         69.3
(Issuer Not Cooperating)
Manohar Cold Storage And Agrotech     LT Bk Fac          -              -       Withdrawn
Maruti Gems                           LT/STBk Fac        CARE BB+;      120     Reaffirmed
                                                         Stable/CARE A4+
Meatech Solutions Llp                 LT Bk Fac          CARE BB+;      20      Assigned
                                                         Stable
Membrane Filters (India) Pvt Ltd      LT BkFac           CARE B+        197.8   Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
Mittal Engineering Works              LT Bk Fac          CARE BB-;      70.4    Assigned
                                                         Stable
Mittal Engineering Works              Long/ST BkFac      CARE BB-;      39.6    Assigned
                                                         Stable/CARE A4
N. P. Construction                    LT BkFac           CARE B+; Stable38.1    Revised form
                                                                                CARE BB-;
                                                                                Stable
(Issuer Not Cooperating)
Navjivan Polyfab Pvt Ltd              LT Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Niki Agro Products Pvt Ltd            LT Bk Fac          CARE D         122.4
(Issuer Not Cooperating)
Nilkamal Bito Storage Systems Pvt Ltd LT Bk Fac          CARE A;        117.5   Reaffirmed
                                                         Positive
Outlook revised to Positive from Stable
Oasis Epc Solutions Ltd               LT Bk Fac          -              -
(Revised from CARE BB; Stable to CARE BB-; Stable and withdrawn)
Oasis Epc Solutions Ltd               LT/ST Bk Fac       -              -
(Revised from CARE BB; Stable/ CARE A4 and withdrawn)
Omicron Power Engineers Pvt Ltd       LT BkFac           CARE C         300.9
(Issuer Not Cooperating)
Palak Ferro Alloys                    LT Bk Fac          CARE D         61
(Issuer Not Cooperating)
Quadros Automark Pvt Ltd              LT Bk Fac          CARE D         106.8
(Issuer Not Cooperating)
Ria Computers Pvt Ltd                 LT Bk Fac          -              -
(Reaffirmed at CARE BB-; Stable and withdrawn)
Ria Computers Pvt Ltd                 LT/ST Bk Fac       -              -
(Reaffirmed at CARE BB-; Stable/ CARE A4 and withdrawn)
Saibaba Sales Pvt Ltd                 LT BkFac           CARE B+        170.8   Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Samarth Commodities Merchants Pvt Ltd LT Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Seya Pate Constructions Llp           LT Bk Fac          CARE B-        75
(Issuer Not Cooperating)
Shah Group Builders Ltd               LT Bk Fac          CARE D         1350
(Issuer Not Cooperating)
Shiw Prasad Jyoti Prasad              LT Bk Fac          CARE BB-;      80      Assigned
                                                         Stable
Shri Murlidhar Industries Pvt Ltd     LT Bk Fac#         -              -       Reaffirmed
                                                                                and Withdrawn
#backed by credit enhancement in the form of Corporate Guarantee from Khedut Solvexp Pvt. Ltd.
(KSPL)
Super Max Affordable Housing Pvt Ltd  LT BkFac           CARE B-;       250     Revised from
                                                         Stable                 CARE B
(Issuer Not Cooperating)
Surya Plastic Manufacturing Pvt Ltd   LT Bk Fac          CARE D         90
(Issuer Not Cooperating)
Tech India Enterprises                LT BkFac           CARE B;        50      Revised form
                                                         Stable;                CARE B+;
                                                                                Stable
(Issuer Not Cooperating)
Yadav Measurements Pvt Ltd            LT Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Yadav Measurements Pvt Ltd            LT/ST Bk Fac       -              -       Reaffirmed
                                                                                and Withdrawn
--------------------------------------------------------------------------------------------
$: 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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