October 3, 2019 / 10:46 AM / 2 months ago

CARE ratings for Indian debt instruments-Oct 3

   Oct 3 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 1, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Circle Infotech Pvt Ltd               ST Bk Fac          CARE A4;       45      -
(Issuer not cooperating; on the basis of best available information)
Diagems Exports Pvt Ltd               ST Bk Fac          CARE A4+;      135.5   Reaffirmed
Hec Infra Projects Ltd                ST Bk Fac          CARE A3        220     Reaffirmed

Him Overseas                          ST Bk Fac          CARE A4        75      -
(Issuer not cooperating; on the basis of best available information)
Hinduja Leyland Finance Ltd           CP issue           CARE A1+       18000   Reaffirmed
Jamipol Ltd                           ST Bk Fac          CARE A1+       10      Reaffirmed
Jm Financial Capital Ltd              CP (for IPO        CARE A1+       1000    Assigned
                                      financing)
Jm Financial Products Limite          CP (for IPO        CARE A1+       3000    Assigned
                                      financing)
Jm Financial Properties And Holdings LCP (for IPO        CARE A1+       4000    Assigned
                                      financing)
Jmc Projects (India) Ltd              CP Issue (carved   CARE A1+       1500    Reaffirmed
                                      out of working
                                      capital limits)
Kerala Balers Pvt Ltd                 ST Bk Fac          CARE A4        120     Reaffirmed
Shree Krishna Educational And         ST Bk Fac          CARE D         18.5    Reaffirmed
Charitable Society
Diagems Exports Pvt Ltd               ST Bk Fac          -              -       Withdrawn
Kriti Industries (India) Ltd          ST Bk Fac          CARE A2        20      Reaffirmed
Madhur Knit Crafts Pvt Ltd            ST Bk Fac          CARE A4        5       -
(Issuer not cooperating; on the basis of best available information)
Mukesh Ranjan Contractors             ST Bk Fac          CARE A4;       120     -
(Issuer not cooperating; on the basis of best available information)
Navyug India Ltd                      ST Bk Fac          CARE A4;       52.5    -
(Issuer not cooperating; on the basis of best available information)
Neo Metaliks Ltd                      ST Bk Fac          CARE A3        900     -
(Issuer not cooperating; on the basis of best available information)
Nevco Engineers Pvt Ltd               ST Bk Fac          CARE A4        50      Assigned
Popular Motor World Pvt Ltd (Revised) ST Bk Fac          CARE A4        150     Assigned
Rashtriya Chemicals & Fertilizers Ltd CP                 CARE A1+       2000    Reaffirmed
Rexon Laboratories Ltd                ST Bk Fac          CARE A4        70      -
(Issuer not cooperating; on the basis of best available information)
Rsg Foods Pvt Ltd                     ST Bk Fac          CARE A4        10      -
(Issuer not cooperating; on the basis of best available information)
Shri Varalakshmi Company              ST Bk Fac          CARE A3+       31.5    Assigned
Sporting Syndicate Pvt Ltd            ST Bk Fac          CARE A4;       80      -
(Issuer not cooperating; on the basis of best available information)
Tata Blue Scope Steel Pvt Ltd         ST Bk Fac          CARE A1+       2000    Reaffirmed
Udupi Power Corporation Ltd           ST Bk Fac          CARE A2+       6228    Reaffirmed
Victory Ceratech Pvt Ltd              ST Bk Fac          CARE A3        40      Reaffirmed
Vraj & Vaj Construction               ST Bk Fac          CARE A4        25      Reaffirmed


LONG TERM RATINGS:
-------------------
Apar Industries Ltd                   LT Bk Fac          CARE A; Stable 8033.4  Reaffirmed
Apar Industries Ltd                   Long/ST Bk Fac     CARE A;        55000   Reaffirmed
                                                         Stable/CARE A1
Apg Shimla University                 LT Bk Fac          CARE D         468.1   -
(Issuer not cooperating; on the basis of best available information)
Aris Capital Pvt Ltd                  LT Bk Fac          CARE BB+;      644.7   Revised from
                                                         Stable                 CARE BBB-;
Atria Wind Power (Chitradurga) Pvt LtdLT Bk Fac          CARE BBB-;     2030    Assigned
                                                         Stable
B B Minerals And Metals               LT Bk Fac          CARE B+; Stable50      Reaffirmed
B. J. Enterprise                      LT Bk Fac          CARE BB-;      200     Assigned
                                                         Stable
Baba Kashmira Singh Jan Sewa Trust    LT Bk Fac          CARE BB        209.7   -
(Issuer not cooperating; on the basis of best available information)
Cabs India Tours And Travels Pvt Ltd  LT Bk Fac          CARE B+; Stable47.6    Assigned
Ceejay Finance Ltd                    LT Bk Fac          CARE BBB-;     150     Reaffirmed
                                                         Stable
Circle Infotech Pvt Ltd               LT Bk Fac          CARE B+;       120     Revised from
                                                         Stable;                BB-;
(Issuer not cooperating; on the basis of best available information)
Dhanee International                  LT Bk Fac          CARE D         52.5    -
(Issuer not cooperating; on the basis of best available information)
Eashwara Sai Cotton Industries        LT Bk Fac          CARE BB-;      42.4    Reaffirmed
                                                         Stable
Electromech Maritech Pvt Ltd          LT Bk Fac (TL-I)   CARE D         160.4   Reaffirmed
Electromech Maritech Pvt Ltd          LT Bk Fac (TL-II)  CARE D         87.5    Reaffirmed
Fincare Small Finance Bank Ltd        LT Bk Fac          CARE A; Stable 1253.8  Reaffirmed
Fincare Small Finance Bank Ltd        LT instruments NCD CARE A; Stable 350     Reaffirmed
Fincare Small Finance Bank Ltd        Proposed Lower     CARE A; Stable 1000    Assigned
                                      Tier II bonds
Gee Emm Spinfab Ltd                   LT Bk Fac          CARE BBB-;     438.7   Reaffirmed
                                                         Stable
Godawari Green Energy Ltd             LT Bk Fac – TL     CARE BBB;      4257.9  Reaffirmed
                                                         Stable
Godawari Green Energy Ltd             LT Bk Fac – Fund   CARE BBB;      130     Reaffirmed
                                      Based              Stable
Gravity Ferrous Pvt Ltd               LT Bk Fac          CARE BBB;      100     Reaffirmed
                                                         Stable
Gravity Ferrous Pvt Ltd               Longterm/ST Bk Fac CARE BBB;      100     Reaffirmed
                                                         Stable /CARE A3
Halo Energie Pvt Ltd                  LT Bk Fac          CARE BB; Stable141.9   Reaffirmed
Hec Infra Projects Ltd                LT Bk Fac          CARE BBB-;     159.3   Reaffirmed
                                                         Stable
Hinduja Leyland Finance Ltd           NCD issue-IV       -              -       Withdrawn
Hinduja Leyland Finance Ltd           NCD issue-VIII     -              -       Withdrawn
Hinduja Leyland Finance Ltd           NCD issue-IX       -              -       Withdrawn
Hinduja Leyland Finance Ltd           NCD issue-X        -              -       Withdrawn
Hinduja Leyland Finance Ltd           NCD issue-XII      -              -       Withdrawn
Hinduja Leyland Finance Ltd           NCD issue-XIII     -              -       Withdrawn
Hinduja Leyland Finance Ltd           LT Bk Fac          CARE AA-;      157030  Reaffirmed
                                                         Stable
Hinduja Leyland Finance Ltd           NCD issue-II       CARE AA-;      750     Reaffirmed
                                                         Stable
Hinduja Leyland Finance Ltd           NCD issue-V        CARE AA-;      2500    Reaffirmed
                                                         Stable
Hinduja Leyland Finance Ltd           NCD issue-VI       CARE AA-;      670     Reaffirmed
                                                         Stable
Hinduja Leyland Finance Ltd           NCD issue-VII      CARE AA-;      340     Reaffirmed
                                                         Stable
Hinduja Leyland Finance Ltd           NCD issue-XI       CARE AA-;      2000    Reaffirmed
                                                         Stable
Hinduja Leyland Finance Ltd           NCD issue-XIV      CARE AA-;      500     Reaffirmed
                                                         Stable
Hinduja Leyland Finance Ltd           NCD issue-XV       CARE AA-;      500     Reaffirmed
                                                         Stable
Hinduja Leyland Finance Ltd           NCD issue-XVI      CARE AA-;      2000    Reaffirmed
                                                         Stable
Hinduja Leyland Finance Ltd           NCD issue-XVII*    CARE AA-;      2500    Reaffirmed
                                                         Stable
*unutilized amount of Rs.150 crore;
Hinduja Leyland Finance Ltd           NCD issue-XVIII    CARE AA-;      5000    Reaffirmed
                                      (Proposed)         Stable
Hinduja Leyland Finance Ltd           Subordinated Debt  CARE AA-;      3000    Reaffirmed
                                      issue - I          Stable
Hinduja Leyland Finance Ltd           Subordinated Debt  CARE AA-;      1800    Reaffirmed
                                      issue - II         Stable
Hinduja Leyland Finance Ltd           Subordinated Debt  CARE AA-;      2000    Reaffirmed
                                      issue – III        Stable
Hinduja Leyland Finance Ltd           Subordinated Debt  CARE AA-;      2000    Reaffirmed
                                      issue – IV#        Stable
#unutilized amount of Rs.50 crore;
Hinduja Leyland Finance Ltd           Subordinated Debt  CARE AA-;      2000    Reaffirmed
                                      issue – V@         Stable
@unutilized amount of Rs.100 crore;
Hinduja Leyland Finance Ltd           Subordinated Debt  CARE PP-MLD    2000    Reaffirmed
                                      issuePrincipal     AA-; Stable
                                      Protected Market Linked Debenture^
^unutilized amount of Rs.50 crore
Hi-Tec Metal Powders Pvt Ltd          LT Bk Fac          CARE B+; Stable90      Assigned
India International Clearing          Issuer Rating*     CARE AAA (Is); -       Reaffirmed
Corporation (Ifsc) Ltd.                                  Stable
*The rating is subject to the company maintaining overall gearing not exceeding 2.00 times
Innovative Ideals And Services India Ltd LT Bk Fac       CARE B- ;      57.5    Assigned
                                                         Stable
Jamipol Ltd                           LT / ST Bk Fac     CARE AA-;      200     Reaffirmed
                                                         Positive/CARE
                                                         A1+
JMC Projects (India) Ltd              LT Bk Fac          CARE A+; Stable8127.7  Reaffirmed
JMC Projects (India) Ltd              NCDs               CARE A+; Stable1500    Reaffirmed
JMC Projects (India) Ltd              LT / ST Bk Fac     CARE A+;       42000   Reaffirmed
                                                         Stable/CARE A1+
Kaival Polyplast Llp                  LT Bk Fac          CARE B+;       175     Reaffirmed
                                                         Stable
Kerala Balers Pvt Ltd                 LT / ST Bk Fac     CARE BB; Stable120     Reaffirmed
Kriti Industries (India) Ltd          LT Bk Fac          CARE BBB+;     778.3   Reaffirmed
                                                         Stable
Kriti Industries (India) Ltd          Long/ST BkFac      CARE BBB+;     1270.2  Reaffirmed
                                                         Stable/CARE A2
Kriti Nutrients Ltd                   LT Bk Fac          CARE BBB+;     40      Reaffirmed
                                                         Positive
Kriti Nutrients Ltd                   Long/ST BkFac      CARE BBB+;     220     Reaffirmed
                                                         Positive/CARE
                                                         A2
Kyra Hospitality                      LT Bk Fac          CARE B; Stable 20      Assigned
Madhur Knit Crafts Pvt Ltd            LT Bk Fac          CARE B+;       199.5   Revised from
                                                                                CARE BB-;
(Issuer not cooperating; on the basis of best available information)
Madhur Knit Crafts Pvt Ltd            LT Bk Fac/ ST Bk   CARE B+; /CARE 30      Revised from
                                      Fac                A4;                    CARE BB-; /
                                                                                CAREA4
(Issuer not cooperating; on the basis of best available information)
Mukesh Ranjan Contractors             LT Bk Fac          CARE B;        20      Revised from
                                                                                CARE B+;
(Issuer not cooperating; on the basis of best available information)
Navyug India Ltd                      LT Bk Fac          CARE B;        47      -
(Issuer not cooperating; on the basis of best available information)
Neelkanth Town Planners Pvt Ltd       LT Bk Fac          -              -       Withdrawn
Neo Metaliks Ltd                      LT Bk Fac          CARE BBB-;     872.5   -
                                                         Stable
(Issuer not cooperating; on the basis of best available information)
Neo Metaliks Ltd                      Longterm/ST Bk Fac CARE BBB-;     75      -
                                                         Stable/CARE A3
(Issuer not cooperating; on the basis of best available information)
Nevco Engineers Pvt Ltd               LT Bk Fac          CARE BB; Stable100     Assigned
Nikhil Pulses Pvt Ltd                 LT Bk Fac          CARE B+; Stable70      Reaffirmed
P&R Engineering Services Pvt Ltd      LT Bk Fac^         -              -       Withdrawn
^ backed by credit enhancement in the form of Corporate Guarantee from 
P&R Infraprojects Limited (P&R)
P&R Infraprojects Ltd                 LT Bk Fac          CARE BB;       200     revised from
                                                         Stable;                CARE BB+;
(Issuer not cooperating; on the basis of best available information)
P&R Infraprojects Ltd                 LT/ST Bk Fac       CARE BB;       850     revised from
                                                         Stable; /CARE          CARE BB+;
                                                         A4
(Issuer not cooperating; on the basis of best available information)
Popular Motor World Pvt Ltd (Revised) LT Bk Fac          CARE B+; Stable5       Assigned
Pruthi Hospital                       LT Bk Fac          CARE B+        260.9   -
Issuer not cooperating,Based on best available information
Rexon Laboratories Ltd                LT Bk Fac          CARE B         10      Revised from
                                                                                CARE B+;
(Issuer not cooperating; on the basis of best available information)
Rsg Foods Pvt Ltd                     LT Bk Fac          CARE B         230     Revised from
                                                                                CARE B+
(Issuer not cooperating; on the basis of best available information)
Ruchi Hospitality Pvt Ltd             LT Bk Fac          CARE BB+;      235.3   Revised from
                                                                                CARE BB
(Issuer not cooperating; on the basis of best available information)
Sadbhav Bangalore Highway Pvt Ltd     LT Bk Fac          CARE A; Stable 4840    Reaffirmed
Sadbhav Udaipur Highway Pvt Ltd       LT Bk Fac          CARE A-; Stable4270    Reaffirmed
Sadbhav Vidarbha Highway Pvt Ltd      LT Bk Fac          CARE A; Stable 5140    Reaffirmed
Sai Maatarini Tollways Ltd            LT Bk Fac          CARE D         13973.5 Reaffirmed
Sempertrans India Pvt Ltd             LT BkFac           CARE BBB;      7.5     Reaffirmed
                                                         Stable
Sempertrans India Pvt Ltd             LT/ STBk Fac       CARE BBB;      190     Reaffirmed
                                                         Stable/CARE A2
Shankar Agro Food                     LT Bk Fac          CARE B;        70      -
(Issuer not cooperating; on the basis of best available information)
Shape Engineering Co. Pvt Ltd         LT Bk Fac          CARE B-;       105     Revised from
                                                                                CARE B;
(Issuer not cooperating; on the basis of best available information)
Shape Engineering Co. Pvt Ltd         Longterm/ST Bk Fac CARE B-;       5.8     Revised from
                                                         Stable /CARE A4        CARE B;
                                                                                Stable /CARE A4;
(Issuer not cooperating; on the basis of best available information)
Shiv Shakti Modern Flour Mills Pvt LtdLT BkFac           CARE B+;       112     -
                                                         Stable;
(Issuer not cooperating; on the basis of best available information)
Shree Jee Educational & Welfare SocietLT Bk Fac          CARE B+; Stable61.3    Reaffirmed
Shree Krishna Educational And         LT Bk Fac          CARE D         36.1    Reaffirmed
Charitable Society
Shri Ram Cold Storage And Chilling    LT Bk Fac          CARE B; Stable 64.4    Revised from
Plants                                                                          CARE D
(Issuer not cooperating; on the basis of best available information)
Shri Varalakshmi Company              LT Bk Fac          CARE BBB;      333.6   Assigned
                                                         Stable
Shrinet And Shandilya Construction PvtLT Bk Fac          CARE B-;       30      Revised from
Ltd                                                                             CARE B
(Issuer not cooperating; on the basis of best available information)
Shrinet And Shandilya Construction PvtST Bk Fac          CARE B-;       320     Revised from
Ltd                                                      Stable /CARE           CARE B;
                                                         A4;                    Stable /CARE A4;
(Issuer not cooperating; on the basis of best available information)
Tajshree Autowheels Pvt Ltd           Long- term BkFac   CARE B; Stable 87.5    Revised from
                                                                                CARE BB-
(Issuer not cooperating; on the basis of best available information)
Tata Blue Scope Steel Pvt Ltd         LT Bk Fac          CARE AA-;      6800    Reaffirmed
                                                         Stable
The Alleppey Co. Ltd                  Longterm/ST Bk Fac CARE BB;       207     Reaffirmed
                                                         Stable/CARE A4
Udupi Power Corporation Ltd           LT Bk Fac          CARE A-; Stable41628.1 Reaffirmed
Underwater Services Company Ltd       LT BkFac           CARE BBB;      490     Revised from
                                                         Stable;                CARE A-
(Issuer not cooperating; on the basis of best available information)
Vasavi Solar Power Pvt Ltd            LT Bk Fac (TL-I)   CARE D         178.7   Reaffirmed
Vasavi Solar Power Pvt Ltd            LT Bk Fac (TL-II)  CARE D         109.4   Reaffirmed
Victory Ceratech Pvt Ltd              LT Bk Fac          CARE BBB-;     66.6    Reaffirmed
                                                         Stable
Victory Ceratech Pvt Ltd              LT /ST Bk Fac      CARE BBB-;     60      Reaffirmed
                                                         Stable/CARE A3
Vraj & Vaj Construction               LT Bk Fac          CARE B+; Stable60      Reaffirmed
Vulcan Cold Forge Pvt Ltd             LT Bk Fac          CARE BB-;      130.5   Revised from
                                                                                CARE BB-;
                                                                                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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