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CARE ratings for Indian debt instruments-Sep 29

    Sep 29  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of September 28, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aesthetic Stampings And Laminations   ST Bk Fac          CARE A4        5       Revised from
Ltd                                                                             CARE A4+
Caparo Power Ltd                      ST Bk Fac          CARE A4+       160     Revised from
                                                                                CARE A3;
(Issuer not cooperating); Based on best available information
Contour Steel Engineering India Pvt LtST Bk Fac          CARE A4        20      -
(Issuer not cooperating); Based on best available information
Cheran Spinner Pvt Ltd                ST Bk Fac          -              -       Reaffirmed
                                                                                and withdrawn
Dcm Shriram Industries Ltd            ST Bk Fac          CARE A1+       1040.5  Reaffirmed
(enhanced from 92.85 crs)
Delfina Ceramic Pvt Ltd               ST Bk Fac          CARE A4;       12.5    -
(Issuer not cooperating); based on best available information
Empire Industries Ltd                 ST Bk Fac          CARE A1        1350    Reaffirmed
(increased from 25.00 crs)
Eshyan Infratech                      ST Bk Fac          CARE A4;       40      -
(Issuer not cooperating); Based on best available information
Garware Polyester Ltd                 ST Bk Fac          CARE A1        1981.9  Reaffirmed
Genesys International Corporation Ltd ST Bk Fac          CARE A3        50      Reaffirmed
Haraparbati Potato Cold Storage Pvt LtST Bk Fac          CARE A4;       1.2     -
(Issuer not cooperating); Based on best available information
Irm Enterprises Pvt Ltd               ST Bk Fac          CARE A3        10      Assigned
K C Timber Traders                    ST Bk Fac          CARE A4;       80      -
(Issuer not cooperating) ; Based on best available information
Kejriwal Bee Care India Pvt Ltd       ST Bk Fac          CARE A3        20      Assigned
Lalitha Metals                        ST Bk Fac          CARE A4;       1.5     -
(Issuer not cooperating); Based on best available information
M S Support Services Pvt Ltd          ST Bk Fac          CARE A4;       15      -
(Issuer not cooperating); Based on best available information
N.Ch.Pulla Rao                        ST Bk Fac          CARE A4        50      -
(Issuer not cooperating); Based on best available information
Pantel Technologies Pvt Ltd           ST Bk Fac          CARE D         100     -
(Issuer not cooperating); Based on best available information
Ruby Fashion Textile                  ST Bk Fac          CARE D         7.5     Revised from
                                                                                CARE A4
(Issuer not cooperating) Based on best available information
Shakti Energy Solutions Pvt Ltd       ST Bk Fac          CARE A2 (CE)   23      Reaffirmed
Shakti Pumps (India) Ltd              ST Bk Fac          CARE A2        2100    Reafirmed
(enhanced from 180.00 crs)
Shriram Epc Ltd                       ST Bk Fac          CARE D         8995.2  Reaffirmed
                                                                                and removed
                                                                                from INC
(enhanced from 765.11 crs)
Shree Cement Ltd                      ST Bk Fac          CARE A1+       8000    Raffirmed
Shree Cement Ltd                      CP                 CARE A1+       4000    Raffirmed
Shree Ganga Paddy Processors          ST Bk Fac          CARE A4        76.5    -
(Issuer not cooperating); based on best available information
Small Industries Development Bank Of  ST Bk Fac          CARE A1+       100000  Assigned
India
Styrax Pharma Pvt Ltd                 ST Bk Fac          CARE BBB-;     20      Reaffirmed
                                                         Stable
(Reduced from 10.00 crs)
Styrax Pharma Pvt Ltd                 ST Bk Fac@         CARE A3        0       Withdrawn
@The rating assigned to the short term bank facility has been withdrawn on account of Non Due
Certificate received from the previous bank that had extended the bank facilities. Also, the
bank guarantee facility has been closed as per the latest bank sanction letter provided by the
company.
Sukhras Machines Pvt Ltd              ST Bk Fac          CARE A4        50      -
(Issuer not cooperating); On the basis of best available information
Supreme Polytubes Ltd                 ST Bk Fac          CARE A4        100     Reaffirmed
removed from (Issuer not cooperating)
Tata Chemicals Ltd                    ST Bk Fac          CARE A1+       24480   Reaffirmed
Yasho Industries Ltd                  ST Bk Fac          CARE A3        555     Reaffirmed
 
MEDIUM TERM RATINGS:
-------------------
Dcm Shriram Industries Ltd            Medium-term        CARE A+ (FD);  150     Reaffirmed
                                      Instruments –      Stable
                                      Fixed Deposit
Empire Industries Ltd                 Fixed Deposit      CARE A (FD);   830     Revised from
                                      programme          Negative               CARE A (FD);
                                                                                Stable 
 

LONG TERM RATINGS:
-------------------
Adani Gas Ltd                         CP (CP) Issue      -              -       Withdrawn
Aesthetic Stampings And Laminations LtLT Bk Fac          CARE BB; Stable43      Reaffirmed
(Reduced from 4.61 CRS)
Aesthetic Stampings And Laminations   LT / ST Bk Fac     CARE BB;       85      Revised from
Ltd                                                      Stable /CARE A4        CARE BB;
                                                                               Stable / CARE A4+
Caparo Power Ltd                      LT Bk Fac          CARE BB+;      290     Revised from
                                                         Stable;                CARE BBB-;
                                                                                Stable
(Issuer not cooperating); Based on best available information
Cheran Spinner Pvt Ltd                LT Bk Fac          -              -       Reaffirmed
                                                                                and withdrawn
Contour Steel Engineering India Pvt   LT Bk Fac          CARE B-; Stable60      Revised from
Ltd                                                                             CARE B+;
                                                                                Stable
(Issuer not cooperating); Based on best available information
Db Corp Ltd                           LT Bk Fac          CARE AA+;      1482.5  Reaffirmed
                                                         Stable
(Enhanced from 135.00 crs)
Db Corp Ltd                           LT / Shortterm Bk  CARE AA+;      1510    Reaffirmed
                                      Fac                Stable/CARE A1+
(Reduced from 185.00 crs)
Dcm Shriram Industries Ltd            LT Bk Fac          CARE A+; Stable7982    Reaffirmed
(enhanced from 712.90 crs)
Delfina Ceramic Pvt Ltd               LT Bk Fac          CARE B-;       48.2    Revised from
                                                                                CARE BB-
(Issuer not cooperating); based on best available information
Dharampal Pipe And Tubes Pvt Ltd      LT Bk Fac          CARE B; Stable 70      Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer not cooperating); On the basis of best available information
Divi’S Laboratories Ltd               LT Bk Fac          CARE AA+;      300     Reaffirmed
                                                         Stable
Divi’S Laboratories Ltd               LT/ST Bk Fac       CARE AA+;      3550    Reaffirmed
                                                         Stable/CARE A1+
Empire Industries Ltd                 LT Bk Fac – CC     CARE A;        929.7   Revised from
                                                         Negative               CARE A; Stable
(increased from 12.97 crs)
Empire Industries Ltd                 LT Bk Fac – TL     CARE A;        1209.3  Revised from
                                                         Negative               CARE A; Stable
(increased from 32.97 crs)
Eshyan Infratech                      LT Bk Fac          CARE B-;       20      Revised from
                                                         Stable;                CARE B;
                                                                                Stable;
(Issuer not cooperating); Based on best available information
Esvee Enterprises                     LT Bk Fac          CARE B-;       150     Revised from
                                                         Stable;                CARE B;
                                                                                Stable;
(Issuer not cooperating); On the basis of best available information
Garware Polyester Ltd                 LT Bk Fac          CARE A;        3698.1  Reaffirmed
                                                         Positive
Outlook revised from Stable to Positive/(Enhanced from 288.97 crs)
Genesys International Corporation Ltd LT Bk Fac          CARE BBB-;     250     Reaffirmed
                                                         Stable
Haraparbati Potato Cold Storage Pvt   LT Bk Fac          CARE B; Stable;106.4   Revised from
Ltd                                                                                CARE B+;
                                                                                Stable
(Issuer not cooperating); Based on best available information
Hughes Systique Pvt Ltd               LT- Fund based     CARE BBB+;     75      Reaffirmed
                                                         Stable
Hughes Systique Pvt Ltd               LT/ST Non fund     CARE BBB+;     75      Reaffirmed
                                      based              Stable/CARE A2
Irm Enterprises Pvt Ltd               LT Bk Fac          CARE BBB-;     116.2   Assigned
                                                         Stable
Jainco Enterprises Pvt Ltd            LT Bk Fac          CARE BB+;      50      Reaffirmed
                                                         Stable
Jainco Enterprises Pvt Ltd            LT / ST Bk Fac     CARE BB+;      450     Reaffirmed
                                                         Stable /CARE
                                                         A4+
K C Timber Traders                    LT Bk Fac          CARE B; Stable;20      Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer not cooperating) ; Based on best available information
Kajjehally Estate                     LT Bk Fac          CARE C; Stable;190     Revised from
                                                                                CARE B+;
                                                                                Stable;
(Issuer not cooperating); On the basis of best available information
Kejriwal Bee Care India Pvt Ltd       Long- Term Bk Fac  CARE BBB-;     674.4   Assigned
                                                         Stable
Lalitha Metals                        LT Bk Fac          CARE C; Stable 73.7    Revised from
                                                                                CARE B-;
                                                                                Stable
(Issuer not cooperating); Based on best available information
M S Support Services Pvt Ltd          LT Bk Fac          CARE B-; Stable47.5    Revised from
                                                                                CARE B+;
                                                                                Stable;
(Issuer not cooperating); Based on best available information
M S Support Services Pvt Ltd          LT / ST Bk Fac     CARE B-;       37.5    Revised from
                                                         Stable /CARE           CARE B+;
                                                         A4;                    Stable/CARE A4;
(Issuer not cooperating); Based on best available information
Maa Annapurna Sheet Grah              LT Bk Fac          CARE B+; Stable30.2    Assigned
Maa Annapurna Sheet Grah              LT Bk Fac          CARE B+; Stable141.9   Reaffirmed
(enhanced from 14.04 crs)
Maa Annapurna Sheet Grah              Long/ST Bk Fac     CARE B+;       1.6     Reaffirmed
                                                         Stable/CARE A4
N.Ch.Pulla Rao                        LT Bk Fac          CARE B-;       40      Revised from
                                                         Stable;                CARE BB;
                                                                                Stable;
(Issuer not cooperating); Based on best available information
Options Lawns Pvt Ltd                 LT Bk Fac          CARE B; Stable 67.2    Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer not cooperating); Based on best available information
Pantel Technologies Pvt Ltd           LT Bk Fac          CARE D         140     -
(Issuer not cooperating); Based on best available information
Pushpa Goyal Enterprises Pvt Ltd      LT Bk Fac          CARE B+;       60      -
                                                         Stable;
(Issuer not cooperating) Based on best available information
Ruby Fashion Textile                  LT Bk Fac          CARE D         49.5    Revised from
                                                                                CARE B; Stable
(Issuer not cooperating) Based on best available information
S N Super Speciality Hospital Pvt Ltd LT Bk Fac          CARE BB-;      20      Assigned
                                                         Stable
S N Super Speciality Hospital Pvt Ltd LT Bk Fac          CARE BB-;      288.9   Revised from
                                                         Stable                 CARE B+;
                                                                                Stable; and
                                                                                removed from INC
 (Enhanced from 26.75 crs)
Sai Sudha Motors Pvt Ltd              LT Bk Fac          CARE B+;       110     Revised from
                                                         Stable;                CARE BB-;
                                                                                Stable;
(Issuer not cooperating); Based on best available information
San Automotive Industries Pvt Ltd     LT Bk Fac          CARE B+; Stable126     Revised from
                                                                                CARE BB-;
                                                                                Stable
(Issuer not cooperating); On the basis of best available information
Satish Marine Exim Pvt Ltd            LT Bk Fac          CARE BB-;      480     Assigned
                                                         Stable
Shakshi Coir Products Pvt Ltd         LT Bk Fac          CARE B+;       69      -
                                                         Stable;
(Issuer not cooperating); Based on best available information
Shakti Energy Solutions Pvt Ltd       LT Bk Fac          CARE BBB+      163.9   Reaffirmed
                                                         (CE); Stable
Shakti Pumps (India) Ltd              LT Bk Fac          CARE BBB+;     525.4   Reafirmed
                                                         Stable
(reduced from 93.49 crs)
Shakti Pumps (India) Ltd              LT/ ST Bk Fac      CARE BBB+;     435     Assigned
                                                         Stable /CARE A2
Shree Aishwarya Industries            LT Bk Fac          CARE C         88.5    Revised from
                                                                                CARE B;
(Issuer not cooperating); On the basis of best available information
Shree Cement Ltd                      LT Bk Fac          CARE AAA;      11000   Raffirmed
                                                         Stable
Shree Ganga Paddy Processors          LT Bk Fac          CARE B; Stable;60      Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer not cooperating); based on best available information
Shree Mahavir Agency                  LT Bk Fac          CARE BB; Stable100     -
(Issuer not cooperating) Based on best available information
Shriram Epc Ltd                       LT Bk Fac          CARE D         5619.8  Reaffirmed
                                                                                and removed
                                                                                from INC
(enhanced from 548.71 crs)
Shriram Epc Ltd                       LT/ST Bk Fac       CARE D /CARE D 63.6    Reaffirmed
                                                                                and removed
                                                                                from INC
(reduced from 48.00 crs)
Small Industries Development Bank Of  LT Bk Fac          CARE AAA;      200000  Reafirmed
India                                                    Stable
(reduced from 30,000 crs)
Small Industries Development Bank Of  MSE Refinance Fund CARE AAA;      1250000 Reafirmed
India                                                    Stable
(enhanced from 1,05,500 crs)
Somnath Agro Industries               LT Bk Fac          CARE B+; Stable80      Reaffirmed
(Enhanced from 5.00 crs)
Sree Gokul’S Tiles Mart               Long -term Bk Fac  CARE B+;       80      Revised from
                                                         Stable;                CARE BB+;
                                                                                Stable
(Issuer not cooperating) Based on best available information
Sri Subramanyeswara Polymers          LT Bk Fac          CARE B+;       120     Revised from
                                                         Stable;                CARE BB-;
                                                                                Stable;
(Issuer not cooperating); Based on best available information
Sri Varun Logistics Park Pvt Ltd      LT Bk Fac#         CARE BB+ (CE); 313.4   Revised from
                                                         Stable                 CARE BBB+
                                                                                (CE); Stable;
#facilities are backed by corporate guarantee from Sravan Shipping Services P. Limited./(Issuer
not cooperating)
Styrax Pharma Pvt Ltd                 LT Bk Fac          CARE BBB-;     330     Assigned
                                                         Stable
Styrax Pharma Pvt Ltd                 LT Bk Fac          CARE BBB-;     487.2   Reaffirmed
                                                         Stable
(Reduced from 63.99 crs)
Sukhras Machines Pvt Ltd              LT Bk Fac          CARE B+;       50      Revised from
                                                         Stable;                CARE BB-
                                                                                ;Stable(
(Issuer not cooperating); On the basis of best available information
Supreme Polytubes Ltd                 LT Bk Fac          CARE BB-;      150     Reaffirmed
                                                         Stable
removed from (Issuer not cooperating)
Tata Chemicals Ltd                    LT Bk Fac          CARE AA+;      18970   Reaffirmed
                                                         Stable
Yasho Industries Ltd                  LT Bk Fac          CARE BBB-;     515.1   Reaffirmed
                                                         Stable
(reduced from 52.00 crs)
Yasho Industries Ltd                  LT/ST Bk Fac       CARE BBB-;     950     Reaffirmed
                                                         Stable/CARE A3
--------------------------------------------------------------------------------------------
$: 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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