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CARE ratings for Indian debt instruments-Sep 23

    Sep 23  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of September 22, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aditya Auto Engineering Pvt Ltd       ST Bk Fac          CARE D         35      -
(Issuer not cooperating); Based on best available information
Ardee Engineering Pvt Ltd (Erstwhile  ST Bk Fac          CARE A4+       180     Revised from
Ardee Engineering Company)                                                      CARE A4
(Enhanced from 9.50 crs)
Bright Shaft Industries               ST Bk Fac          CARE A4;       32.5    -
(Issuer not cooperating); Based on best available information
Captab Biotec Unit Ii                 ST Bk Fac          CARE A4        35      -
(Issuer not cooperating); Based on best available information
Dkm Agencies Pvt Ltd                  ST Bk Fac          CARE D         2       -
(Issuer not cooperating); Based on best available information
Energy Development Co. Ltd            ST Bk Fac          CARE A4        70      Reffirmed
(reduced from 30.00 crs)
Gjs Infratech Pvt Ltd                 ST Bk Fac          CARE A4        925     Reaffirmed
                                                                                and removed
                                                                                from INC
(Enhanced from 75.00 crs)
Hsn Enterprises                       ST Bk Fac          CARE A4;       74.5    -
(Issuer not cooperating); Based on best available information
J. D. Industries (Chattisgarh)        ST Bk Fac          CARE A4        40      -
(Issuer not cooperating); Based on best available information
Kag Granito Llp                       ST Bk Fac          CARE A4        35      Reaffirmed
Karan Construction Company            ST Bk Fac          CARE A4        100     Reaffirmed
                                                                                and
                                                                                removed 
                                                                                from INC
Levram Lifesciences Pvt Ltd           ST Bk Fac          CARE A4+       10      Revised from
                                                                                CARE A4; and
                                                                                removed from INC
(Issuer not cooperating)
Levram Lifesciences Pvt Ltd           ST Bk Fac          CARE A4+       70      Revised from
                                                                                CARE BB;
                                                                                Stable / CARE A4
                                                                                and removed from
                                                                                INC
(Enhanced from 5.00 crs)/(Issuer not cooperating)
Mahalaxmi India Pvt Ltd               ST Bk Fac          CARE A4+       150     -
(Issuer not cooperating); Based on best available information
Mb Power (Madhya Pradesh) Ltd         ST Bk Fac -        CARE A4+       1490    Revised from
                                      Non-Fund Based –                          CARE A4
                                      LOC
Prince Spintex Pvt Ltd                ST Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Real Spintex Pvt Ltd                  ST Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Sandipan Pramanik                     ST Bk Fac          CARE A4;       30      -
(Issuer not cooperating); Based on best available information
Super Infratech Pvt Ltd               ST Bk Fac          CARE D         107.4   -
(Issuer not cooperating); Based on best available information
Ved Parkash & Sons Lumbers Pvt Ltd    ST Bk Fac          CARE A4;       125     -
(Issuer not cooperating); Based on best available information
Vijit International Pvt Ltd           ST Bk Fac          CARE D         10      -
(Issuer not cooperating); Based on best available information
Vijayanagar Sugar Pvt Ltd             ST Bk Fac          CARE A3+       448.6   Revised from
                                                                                CARE A3
 

LONG TERM RATINGS:
-------------------
Aditya Auto Engineering Pvt Ltd       LT Bk Fac          CARE D         57.5    -
(Issuer not cooperating); Based on best available information
Advance Micro Fertilizers Pvt Ltd     LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BB+;
                                                                                Stable and
Withdrawn
Almondz Global Infra Consultant Ltd   LT Bk Fac          CARE BBB-;     266     Reaffirmed
                                                         Negative
Almondz Global Securities Ltd         LT Bk Fac          CARE BBB-;     215     Reaffirmed
                                                         Negative
(reduced from 26.82 crs)
Ardee Engineering Pvt Ltd (Erstwhile  LT Bk Fac          CARE BB+;      120     Reaffirmed
Ardee Engineering Company)                               Positive
outlook revised from stable
Ayan Foods                            LT Bk Fac          CARE B-; Stable55      Revised from
                                                                                CARE B;
                                                                                Stable;
(Issuer not cooperating); Based on best available information
Bhagwati Vintrade Pvt Ltd             LT Bk Fac          CARE B+;       222.7   Revised from
                                                                                CARE BB-;
(Issuer not cooperating); Based on best available information
Bright Shaft Industries               LT Bk Fac          CARE C; Stable;37.5    Revised from
                                                                                CARE B+;
                                                                                Stable;
(Issuer not cooperating); Based on best available information
Captab Biotec Unit Ii                 LT Bk Fac          CARE C; Stable 65      -
(Issuer not cooperating); Based on best available information
Captab Biotec Unit Ii                 LT Bk Fac          CARE D         6.4     -
(Issuer not cooperating); Based on best available information
Dkm Agencies Pvt Ltd                  LT Bk Fac          CARE D         83      -
(Issuer not cooperating); Based on best available information
Durgapur Institute Of Advanced        LT Bk Fac          CARE B+;       500     Revised from
Technology And Management                                Stable;                CARE BB-;
                                                                                Stable;
(Issuer not cooperating) on the basis of best available information
Energy Development Co. Ltd            LT Bk Fac          CARE B+; Stable40      Reffirmed
(reduced from 10.00 crs)
Gjs Infratech Pvt Ltd                 LT Bk Fac          CARE BB+;      275     Reaffirmed
                                                         Stable                 and removed
                                                                                from INC
Hsn Enterprises                       LT Bk Fac          CARE B-;       25      Revised from
                                                         Stable;                CARE B; Stable
(Issuer not cooperating); Based on best available information
India Flysafe Aviation Ltd            LT Bk Fac          CARE BB+;      502.9   Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
(reduced from 74.76 crs)
J. D. Industries (Chattisgarh)        LT Bk Fac          CARE B-;       76.4    -
                                                         Stable;
(Issuer not cooperating); Based on best available information
Kag Granito Llp                       LT Bk Fac          CARE B; Stable 210.5   Revised from
                                                                                CARE B+;
                                                                                Stable
Karan Construction Company            LT Bk Fac          CARE BB-;      100     Revised from
                                                         Stable                 CARE BB;
                                                                                Stable;
Levram Lifesciences Pvt Ltd           LT Bk Fac          CARE BB+;      40      Revised from
                                                         Stable                 CARE BB;
                                                                                Stable; and
                                                                                removed from INC
(Issuer not cooperating)
Mahalaxmi India Pvt Ltd               LT Bk Fac          CARE BB;       60      Revised from
                                                         Stable;                CARE BB+;
                                                                                Stable
(Issuer not cooperating); Based on best available information
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac –TL      CARE BB+;      42719.5 Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac – (ECBs) CARE BB+;      7124.6  Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac–Non-Fund CARE BB+;      4147.7  Revised from
                                      Based (BG)         Stable                 CARE BB;
                                                                                Stable
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac – Fund   CARE BB+;      9910    Revised from
                                      Based – Working    Stable                 CARE BB;
                                      capital limits                            Stable
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac -        CARE BB+;      1500    Revised from
                                      Non-Fund Based –   Stable                 CARE BB;
                                      Derivative Limit                          Stable
Natraj Rice Mills Pvt Ltd             LT Bk Fac          CARE B+;       259.5   Revised from
                                                                                CARE BB-;
(Issuer not cooperating); Based on best available information
Olive Tree Retail Pvt Ltd             LT Bk Fac          CARE B-        100     Revised from
                                                                                CARE B;
(Issuer not cooperating); Based on best available information
Prince Spintex Pvt Ltd                LT Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Prince Spintex Pvt Ltd                LT/ST Bk Fac       -              -       Reaffirmed
                                                                                and Withdrawn
Proagri Seeds                         Bk Fac- Fund-      CARE C; Stable;65      Revised from
                                      Based- LTCC                               CARE B; Stable
(Issuer not cooperating); Based on best available information
Proagri Seeds                         Bk Fac- Fund       CARE C; Stable;20      Revised from
                                      Based- LTProposed                         CARE B; Stable
(Issuer not cooperating); Based on best available information
R.G.R Educational Trust               Long -term Bk Fac  CARE D;        100     Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer not cooperating) on the basis of best available information
R.J. Business Solutions Pvt Ltd       LT Bk Fac          CARE B; Stable 124.5   Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer not cooperating); Based on best available information
Raja Poultry Farm                     LT Bk Fac          CARE B-; Stable120     Revised from
                                                                                CARE B+;
                                                                                Stable;
(Issuer not cooperating); Based on best available information
Rajendra Rice And General Mills       Bk Fac- FundBased- CARE C         60      Revised from
                                      LT- CC                                    CARE B
(Issuer not cooperating); Based on best available information
Rajendra Rice And General Mills       Bk Fac- Fund       CARE C         5       Revised from
                                      Based- LT- TL                             CARE B
(Issuer not cooperating); Based on best available information
Rajendra Rice And General Mills       Bk Fac- Fund       CARE C/CARE A4;5       Revised from
                                      Based- LT/                                CARE B/ CARE
                                      STProposed                                A4;
(Issuer not cooperating); Based on best available information
Real Spintex Pvt Ltd                  LT Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Richu Mal Bishan Sarup                Bk Fac- Fund-      CARE C         25      Revised from
                                      Based- LTOverdraft                        CARE B
(Issuer not cooperating); Based on best available information
Richu Mal Bishan Sarup                Bk Fac- Fund-      CARE C         25      Revised from
                                      Based- LTOverdraft                        CARE B
(Issuer not cooperating); Based on best available information
Rishabh Associates                    LT Bk Fac          CARE B; Stable;60      Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer not cooperating); Based on best available information
Sadbhav Infrastructure Project Ltd    NCD Issue          -              -       Withdrawn
Sandipan Pramanik                     LT Bk Fac          CARE B+;       100     Revised from
                                                         Stable;                CARE BB-;
                                                                                Stable;
(Issuer not cooperating); Based on best available information
Shankheshwar Enterprises              LT Bk Fac          CARE BB-;      97.8    Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
(Issuer not cooperating); Based on best available information
Shri Ram Solvex                       LT Bk Fac          CARE B-; Stable187.5   Revised from
                                                                                CARE B;
                                                                                Stable;
(Issuer not cooperating); Based on best available information
Singlacherra Tea Company Pvt Ltd      LT Bk Fac          CARE C         115.6   Revised from
                                                                                CARE B-;
(Issuer not cooperating); Based on best available information
Soft Medicaps Ltd                     LT Bk Fac          CARE BB; Stable56.4    Assigned
Sri Vasave Kanyaka Parameshwari Rice  LT Bk Fac          -              -       Reaffirmed at
Mills Pvt Ltd                                                                   CARE
                                                                                BB-;Stable and
                                                                                Withdrawn
Sukhmani Holidays - Inn Pvt Ltd       LT Bk Fac          CARE D         133.1   -
(Issuer not cooperating); Based on best available information
Sunrise Construction Company          LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE
                                                                                B+;Negative; and
                                                                                Withdrawn
Sunrise Construction Company          LT/ST Bk Fac       -              -       Reaffirmed at
                                                                                CARE
                                                                                B+;Negative;/
                                                                                CARE A4; and 
                                                                                Withdrawn
Super Infratech Pvt Ltd               LT Bk Fac          CARE D         71.4    -
(Issuer not cooperating); Based on best available information
Tebma Shipyards Ltd                   LT Bk Fac          -              -       Withdrawn
Tebma Shipyards Ltd                   Short -term Bk Fac -              -       Withdrawn
Unitech Mercantile Pvt Ltd            LT Bk Fac          -              -       Withdrawn
Ved Parkash & Sons Lumbers Pvt Ltd    LT Bk Fac          CARE B-;       25      Revised from
                                                         Stable;                CARE B;
                                                                                Stable;
(Issuer not cooperating); Based on best available information
Vijayanagar Sugar Pvt Ltd             LT Bk Fac          CARE BBB;      1729.5  Revised from
                                                         Stable                 CARE BBB-;
                                                                                Stable
Vijit International Pvt Ltd           LT Bk Fac          CARE D         60      -
(Issuer not cooperating); Based on best available information
Vishwakarma Automotive Pvt Ltd        LT Bk Fac          CARE B+; Stable250     Reaffirmed
Women’S Next Loungeries Ltd           LT Bk Fac          CARE D         125     -
(Issuer not cooperating); Based on best available information
Woodville Palace Hotel                LT Bk Fac          CARE C; Stable 171.8   Revised from
                                                                                CARE B-;
                                                                                Stable
(Issuer not cooperating); Based on best available information
--------------------------------------------------------------------------------------------
$: 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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