April 4, 2018 / 12:44 PM / 18 days ago

RPT-CARE ratings for Indian debt instruments-Apr 4

 (Repeating to add more ratings.)
   Apr 4 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of April 3, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Anand Construction                    ST Bk Fac          CARE A4        13.1    Assigned
Arun Excello Constructions Llp        ST Bk Fac          CARE A3        150     Reaffirmed
(enhanced from Rs.10 crore)
Audi Motors Pvt Ltd                   ST Bk Fac          CARE A3        200     Reaffirmed

Bps Industries                        ST Bk Fac          -              -       Withdrawn
Bhagat Forge Pvt Ltd                  ST Bk Fac          CARE A4        11      Reaffirmed
Canara Robeco Mutual Fund             ST Bk facility     CARE A1+       4000    Reaffirmed
(reduced from Rs.500 crore)
Canara Robeco Mutual Fund             ST Bk facility     CARE A1+       10000   Reaffirmed
Deep Jyoti Company                    ST Bk Fac          CARE A4        17.5    Assigned
Durlax India Pvt Ltd                  ST Bk Fac          CARE A4        8       Assigned
Dkm Agencies Pvt Ltd                  ST Bk Fac          CARE D         2       Revised from
                                                                                CARE A4
Eastman Mettcast Ltd                  ST Bk Fac          CARE A4        50      assigned
Ekcon Infra Projects                  ST Bk Fac          CARE A4        30      Issuer Not
                                                                                Cooperating
Export-Import Bank Of India           ST CP Programme    CARE A1+       156519.5Reaffirmed
                                      (CP)*
* Amount outstanding under long-term and short-term Certificate of Deposit and
 Commercial Paper Programme will not exceed Rs.15,651.95 crore.
Global Enetworks Ltd                  ST Bk Fac          CARE A4        50.5    Issuer Not
                                                                                Cooperating
Ghasiram Gokalchand Shipbreaking Yard ST Bk Fac          -              -       Withdrawn
Inani Marbles & Industries Ltd        ST Bk Fac          CARE A4        33.5    Revised from
                                                                                CARE A4+
Mayuresh Protenz Pvt Ltd              ST Bk Fac          -              -       Withdrawn
                                      (non-fund based)
Invesco India Mutual Fund             ST Bk Facility*    CARE A1+       5000    Reaffirmed
*Facility is extended to 9 debt schemes of Invesco Mutual Fund
Investment & Precision Castings Ltd   ST Bk Fac          CARE A3+       40      Revised from
                                                                                CARE A3
Kali Pigments Pvt. Ltd.               ST Bk Fac          CARE A4        35      Assigned
Kh Foges India Pvt Ltd                ST Bk Fac          -              -       Withdrawn
Kalinga Media & Entertainment Pvt. LtdST Bk Fac          CARE A1        46.3    Reaffirmed
Kbk Chem-Engineering Pvt Ltd          ST Bk Fac          CARE A4        90      Reaffirmed
Laj Exports Ltd                       ST Bk Fac          CARE A4+       600     Reaffirmed
Leading Construction                  ST Bk Fac          CARE A4+       85      Reaffirmed
Malwa Strips Pvt Ltd                  ST Bk Fac          CARE A4        32.5    Issuer Not
                                                                                Cooperating
Medics International Lifesciences Ltd.ST Bk Fac          CARE A4        50      Reaffirmed
Metroglobal Ltd                       ST Bk Fac          CARE A2        300     Reaffirmed
(reduced from 40.00CRS)
Miraj Pipes And Fittings Pvt Ltd      ST Bk Fac          CARE A4+       150     Reaffirmed
Mcnally Bharat Engineering Co. Ltd    ST Bk Fac          -              -       Withdrawn
Modern Insulators Ltd                 ST Bk Fac          CARE A3        600     Reaffirmed
Partap Spintex Pvt Ltd                ST Bk Fac          CARE A2        25      Revised from
                                                                                CARE A3+
Kirloskar Electric Co. Ltd            ST Bk Fac          CARE D         1378.6  Reaffirmed
Petryc International Pvt Ltd          ST Bk Fac          CARE A4        20      Revised from
                                                                                CARE A4
Ostwal Phoschem (India) Ltd           ST Bk Fac          -              -       Withdrawn
Pine Exporters Pvt Ltd                ST Bk Fac          CARE A4        45.9    Reaffirmed
removed from Issuer Not cooperating
Power Finance Corporation Ltd         ST Borrowing       CARE A1+       200000  Assigned
                                      Programme for FY-19
Prince Spintex Pvt Ltd                ST Bk Fac          CARE A4        5       Reaffirmed
Revati Texwinka Pvt Ltd               ST Bk Fac          -              -       Withdrawn
R R Stones Pvt Ltd                    ST Bk Fac          CARE A4        100     Reaffirmed
Rajesh Sharma Contractor              ST Bk Fac          CARE A4        40      Issuer Not
                                                                                Cooperating
Rci Industries And Technologies Ltd   ST Bk Fac          CARE A3        1050    Assigned
Resins & Allied Products              ST Bk Fac          CARE A3+       240     Reaffirmed
Rmc Switchgears Ltd                   ST Bk Fac          CARE A4        150     -
Issuer not cooperating
Rolex Processors Pvt Ltd              ST Bk Fac          CARE A4        10.5    Issuer Not
                                                                                Cooperating
S. Jogani Exports (India) Pvt Ltd     ST Bk Fac          CARE A3        50      Reaffirmed
Sangam Handicrafts Pvt Ltd            ST Bk Fac          CARE A4        7.5     assigned
Sahdev Jewellers                      ST Bk Fac (Fund    CARE D         132     Revised from
                                      Based)                                    CARE A4
Sahdev Jewellers                      ST Bk Fac          CARE D         382     Reaffirmed
                                      (Non-Fund Based)
Sfc Environmental Technologies Pvt LtdST Bk Fac          CARE A1        400     Reaffirmed
                                      (LOC/Buyers Credit)
Shri Laxmi Lal Patel                  ST Bk Fac          CARE A4        140     Assigned
Sebacic India Ltd                     ST Bk Fac          CARE D         4.6     Reaffirmed
Suryansh Metal And Alloys             ST Bk Facilitie    CARE A4        57      Assigned
Tritan Leather Works Pvt Ltd          ST Bk Fac          -              -       Withdrawn
Tata Mutual Fund                      ST Bk Facility*    CARE A1+       50000   Reaffirmed
*Facility is extended to 6 debt schemes of Tata Mutual Fund/(enhanced from Rs.1,500 crore)
Timarpur Okhla Waste Management CompanST Bk Fac          CARE A3 (SO)   50      Reaffirmed
Pvt Ltd
West Coast Fine Foods (India) Pvt Ltd ST Bk Fac          CARE A3        11.1    Reaffirmed
West Coast Frozen Foods Pvt Ltd       ST Bk Fac          CARE A3        1062.5  Reaffirmed
(reduced from 131.25crs)
Zuberi Engineering Company            ST Bk Fac          CARE A4        50      Reaffirmed

Andhra Bank                           CD                 CARE A1+       50000   Reaffirmed
(reduced from Rs.20,000 crore)
Atc Telecom Infrastructure Pvt Ltd    ST Bk Fac          CARE A1+       10800   -
Continues on Credit Watch with Developing Implications

Bhagat Forge Pvt Ltd                  ST Bk Fac          CARE A4        11      Reaffirmed
Bowreah Jute Mills Pvt Ltd            ST Bk Fac          CARE A3        150     Revised from
                                                                                CARE A4
Celite Tyre Corporation               ST Bk Fac          CARE A4        127.5   Revised from
                                                                                CARE A4+
Issuer Not Cooperating; based on best available information
Celite Tyre Pvt Ltd                   ST Bk Fac          CARE A4        150     Revised from
                                                                                CARE A4+
Issuer Not Cooperating; based on best available information
Deneb & Pollux Tours & Travels Pvt LtdLT Bk Fac          CARE A3        15      Reaffirmed
(Enhanced from 1.15 CR)
Eternal Motors Pvt Ltd                ST Bk Fac          CARE A4+       400     Reaffirmed
Ginni Filaments Ltd                   ST Bk Fac          CARE A3        580     Reaffirmed
Investment & Precision Castings Ltd   ST Bk Fac          CARE A3+       40      Revised from
                                                                                CARE A3
Oracle Granito Ltd                    ST Bk Fac          CARE A3        90      Reaffirmed
Partap Spintex Pvt Ltd                ST Bk Fac          CARE A2        25      Revised from
                                                                                CARE A3+
Pearl Beverages Ltd                   ST Bk Fac          CARE A4        100     Reaffirmed
Power Finance Corporation Ltd         ST Borrowing       CARE A1+       200000  Assigned
                                      Programme for FY-19
Power Finance Corporation Ltd         ST Borrowing       CARE A1+       200000  Assigned
                                      Programme for FY-19
Quatrro Business Support Solutions PvtST Bk Fac          CARE A3+       46.2    Assigned
Ltd
(Under Credit watch with Developing Implications)
Quatrro Global Services Pvt Ltd       ST Bk Fac          CARE A3+       307.2   -
Rating put under Credit watch with Developing Implications,(enhanced from
30.00)
Quatrro Mortgage Solutions Pvt Ltd    ST Bk Fac          CARE A3+       140     Assigned
(Under Credit watch with Developing Implications)
Quatrro Processing Services Pvt Ltd   ST Bk Fac          CARE A3+       70      Assigned
(Under Credit watch with Developing Implications)
Retail Light Techniques India Ltd.    ST Bk Fac          CARE A3        150     Reaffirmed
Rmc Switchgears Ltd                   ST Bk Fac          CARE A4        150     -
Issuer not cooperating
Saga Automotive (India) Pvt Ltd       ST Bk Fac          CARE A4        5       -
Issuer not cooperating
Scope Eknowledge Center Pvt Ltd       ST Bk Fac          CARE A3+       33      Assigned
Shri Laxmi Lal Patel                  ST Bk Fac          CARE A4        140     Assigned
Vijai Shree Pvt Ltd                   ST Bk Fac          CARE A3        80      Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Kirloskar Electric Co. Ltd            Medium-term        CARE D (FD)    54.8    Downgraded
                                      Instruments– Fixed                        from CARE C
                                      Deposits                                  (FD)
    
LONG TERM RATINGS:
-------------------
Accord Builders                       LT Bk Fac – TL     -              -       Withdrawn
Adani Agri Logistics (Katihar) Ltd    LT/ST Bk Fac       CARE BBB /CARE 250     Assigned
                                                         A3+
Agrasen Engineering Industries Pvt LtdLT Bk Fac          CARE BBB+      60      Reaffirmed
Ajay Ingot Rolling Mill Pvt. Ltd.     LT Bk Fac          CARE BB        180     Assigned
Ambuja Realty Development Ltd         LT Bk Fac          CARE BBB-      2875    Assigned
Ambuja Realty Development Ltd         Long/ST Bk Fac     CARE BBB-      125     Assigned
                                                         /CARE A3
Anand Construction                    LT Bk Fac          CARE BB        37      Assigned
Arun Excello Constructions Llp        LT Bk Fac          CARE BBB-      1038    Reaffirmed
(enhanced from Rs.66.25 crore)
Ashish Impex                          Long -term Bk Fac  CARE BB        120     Reaffirmed
Ashok Leyland Vehicles Ltd            LT Bk Fac          CARE A+        1884    Revised from
                                                                                CARE A
Audi Motors Pvt Ltd                   LT Bk Fac          CARE BBB-      467.9   Reaffirmed
Baid Leasing And Finance Co. Ltd      LT Bk Fac          CARE BBB-      450     Reaffirmed
Bayan Contractors And Builders Pvt LtdLT Bk Fac          CARE BB        63.3    Issuer Not
                                                                                Cooperating
Better Value Leasing And Finance Ltd  LT Bk Fac          CARE BBB-      270     Reaffirmed
Bhagat Forge Pvt Ltd                  LT Bk Fac          CARE BB-       62.3    Revised from
                                                                                CARE B+
Bharat Industrial Works (Bhilai) Pvt  LT Bk Fac          CARE B-        70      Assigned
Limite
Bhawariya Construction Company        LT Bk Fac          CARE BB-       50      Issuer Not
                                                                                Cooperating
Bhawariya Construction Company        LT/ ST Bk Fac      CARE BB- /CARE 130     Issuer Not
                                                         A4                     Cooperating
Chaudhary Agro Foods Industry         LT Bk Fac          CARE B+        53      Assigned
Chowringhee Residency Pvt Ltd.        LT Bk Fac          CARE BBB-      2500    Reaffirmed
Clean Solar Power (Tumkur) Pvt Ltd    LT Bk Fac          CARE BBB+      9250    Assigned
Dagar Farm                            LT Bk Fac          CARE B+        52.9    Reaffirmed
(Reduced from 7.00 crore)
Deep Jyoti Company                    LT Bk Fac          CARE BB-       215     Assigned
Dkm Agencies Pvt Ltd                  LT Bk Fac          CARE D         83      Revised from
                                                                                CARE B
Durlax India Pvt Ltd                  LT Bk Fac          CARE BB-       242     Assigned
Durlax India Pvt Ltd                  Long/ST Bk Fac     CARE BB- /CARE 100     Assigned
                                                         A4
Eastman Mettcast Ltd                  LT Bk Fac          CARE BB-       207.3   assigned
Ekcon Infra Projects                  LT Bk Fac          CARE B+        60      Issuer Not
                                                                                Cooperating
Equitas Small Finance Bank Ltd        NCD issue I (EFL)  -              -       Withdrawn
Equitas Small Finance Bank Ltd        NCD issue II (EFL  -              -       Withdrawn
Esaf Small Finance Bank Limite        CP issue           -              -       Withdrawn
Export-Import Bank Of India           LT Bk Borrowing    CARE AAA       30000   Reaffirmed
                                      Programme
Export-Import Bank Of India           CD Programme (CD)* CARE AAA       156519.5Reaffirmed
                                                         /CARE A1+
* Amount outstanding under long-term and short-term Certificate of Deposit 
and Commercial Paper Programme will not exceed Rs.15,651.95 crore.
Future Market Network Ltd.            LT Bk Fac          -              -       Withdrawn
Ghasiram Gokalchand Shipbreaking Yard LT Bk Fac          -              -       Withdrawn
Ghasiram Gokalchand Shipbreaking Yard LT/ST Bk Fac       -              -       Withdrawn
Global Enetworks Ltd                  LT Bk Fac          CARE B+        0.95    Revised from
                                                                                CARE BB
Global Nonwovens Ltd                  FB - LT-TL         -              -       Withdrawn
Global Nonwovens Ltd                  FB - LT-Working    -              -       Withdrawn
                                      Capital Limits
Global Nonwovens Ltd                  Non-FB - ST-BG/LC  -              -       Withdrawn
H. K. Cotton Industries               LT Bk Fac          CARE B         83.8    Reaffirmed
Hatgad Resort Pvt Ltd                 LT Bk Fac          CARE B+        120     Reaffirmed
Iifcl Infrastructure Debt Fund Scheme IIFCL Mutual Fund  CARE AAA       -       Reaffirmed
Series I, Ii & Iii                    Infrastructure     (MF-IDF)
                                      Debt Fund - Series I
Iifcl Infrastructure Debt Fund Scheme IIFCL Mutual Fund  CARE AAA       -       Reaffirmed
Series I, Ii & Iii                    Infrastructure     (MF-IDF)
                                      Debt Fund Scheme - Series II
Iifcl Infrastructure Debt Fund Scheme IIFCL Mutual Fund  CARE AAA       -       Reaffirmed
Series I, Ii & Iii                    Infrastructure     (MF-IDF)
                                      Debt Fund Scheme - Series III
Inani Marbles & Industries Ltd        LT Bk Fac          CARE BB        140     Revised from
                                                                                CARE BB+
Inani Marbles & Industries Ltd        LT/ST Bk Fac       CARE BB /CARE  6.5     Revised from
                                                         A4                     CARE BB+
                                                                                /CARE A4+
Indian Clearing Corporation Ltd       Issuer Rating      CARE AAA (Is)  -       Reaffirmed
Investment & Precision Castings Ltd   LT Bk Fac          CARE BBB       658.7   Revised from
                                                                                CARE BBB-
Jitendra Udhyog                       LT/ST Bk Fac       CARE B+/CARE A 75      -
Issuer not cooperating; Based on best available information
Kali Pigments Pvt. Ltd.               LT Bk Fac          CARE B+        27      Assigned
Kalinga Media & Entertainment Pvt. LtdLT Bk Fac          CARE A         66.5    Reaffirmed
Karle Infra Pvt Ltd                   LT Bk FacTL        CARE BBB-      300     Reaffirmed
Karle Infra Pvt Ltd                   LT Bk FacLease     CARE BBB(SO)   5450    Revised from
                                      Rental Discounting                        CARE BBB-
Kbk Chem-Engineering Pvt Ltd          LT Bk Fac          CARE B-        150     Reaffirmed
Kishangarh Gulabpura Tollway Pvt Ltd  LT Bk Fac (TL)#    CARE A+(SO)    10200   assigned
#Irrevocable and unconditional Corporate Guarantee of Sponsor, IRB Infrastructure
 Developers Limited to meet any shortfall in (a) project cost funding (b) meeting 
 the Major Maintenance requirement of the Project (c) meeting any shortfall 
 in Debt Servicing (d) to meet any shortfall in one quarter’s Debt Service 
 Reserve (e) Termination payment to meet the entire outstanding debt obligation 
 in case of termination of Concession due to any event during entire loan tenor
 (before and after COD). 
Krishana Phoschem Ltd                 LT Bk Fac          CARE BBB       166.7   Reaffirmed
Krishana Phoschem Ltd                 LT / ST Bk Fac     CARE BBB /CARE 170     Reaffirmed
                                                         A3
L&T Infrastructure Development ProjectNCD                CARE AA        1200    Reaffirmed
Ltd
Laj Exports Ltd                       LT Bk Fac          CARE BB        37.4    Reaffirmed
Leading Construction                  LT Bk Fac          CARE BB        87.5    Reaffirmed
Madhya Bharat Agro Products Ltd       LT Bk Fac          CARE BBB       323.1   Reaffirmed
Mahatma Gandhi University Of Medical  LT Bk Fac          CARE BBB+      2060.6  Reaffirmed
Sciences And Technology
Mallella Stone International          LT Bk Fac          CARE B+        50      Reaffirmed
Malwa Strips Pvt Ltd                  LT Bk Fac          CARE B+        60      Revised from
                                                                                CARE BB-
Man Structurals Pvt. Ltd.             LT Bk Fac          CARE BBB       630     Revised from
                                                                                CARE BBB
Man Structurals Pvt. Ltd.             LT /ST Bk Fac      CARE BBB/A3+   1315    Revised from
                                                                                CARE BBB/A3+
Mayuresh Protenz Pvt Ltd              LT Bk Fac (fund    CARE B+        200     Revised from
                                      based)                                    CARE BB-
Mcnally Bharat Engineering Co. Ltd    LT Bk Fac          -              -       Withdrawn
Medics International Lifesciences Ltd.LT Bk Fac          CARE BB        2088.7  Reaffirmed
Meta Tiles Pvt Ltd                    LT / ST Bk Fac     CARE BB-/A4    137     Assigned
Metroglobal Ltd                       LT Bk Fac          CARE BBB+      250     Reaffirmed
Miraj Multi Colour Pvt Ltd            LT Bk Fac          CARE BB+       212.5   Reaffirmed
Miraj Pipes And Fittings Pvt Ltd      LT Bk Fac          CARE BB+       258.6   Revised from
                                                                                CARE BB+
Modern Insulators Ltd                 LT Bk Fac          CARE BBB-      1210    Reaffirmed
Modi Solvex                           LT Bk Fac          CARE B+        102.5   Revised from
                                                                                CARE B
Motoden Automotive Pvt Ltd            LT Bk Fac          CARE B         150     Reaffirmed
National Exports Corporation          LT Bk Fac / ST Bk  CARE BB /CARE  75      Reaffirmed
                                      Fac                A4+
Orbit Resorts Ltd                     LT Bk Fac          CARE D         2489.1  Issuer Not
                                                                                Cooperating
Ostwal Phoschem (India) Ltd           LT Bk Fac          CARE BBB       -       Reaffirmed
Partap Spintex Pvt Ltd                LT Bk Fac          CARE BBB+      640     Revised from
                                                                                CARE BBB
Pascos                                LT Bk Fac          CARE BBB       750     Revised from
                                                                                CARE BBB-
Petryc International Pvt Ltd          LT Bk Fac          CARE BB-       92      Revised from
                                                                                CARE BB-
Pine Exporters Pvt Ltd                LT Bk Fac          CARE B         35      Reaffirmed
removed from Issuer Not cooperating
Power Finance Corporation Ltd         LT Borrowing       CARE AAA       370000  Assigned
                                      Programme for FY-19
Prakash Industries Ltd                LT Bk Fac          CARE BB        10000   Assigned
Prime Life Space Consultancy Pvt Ltd  Issuer Rating      -              -       Withdrawn
Prince Spintex Pvt Ltd                LT Bk Fac          CARE BB-       627.5   Revised from
                                                                                CARE B+
Prince Spintex Pvt Ltd                LT/ST Bk Fac       CARE BB-/A4    45      Revised from
                                                                                CARE B+/A4
Priority Gold Pvt Ltd                 LT Bk Fac          CARE BBB (SO*) 800     Revised from
                                                                                CARE BBB(SO*)
* based on the credit enhancement in the form of unconditional, irrevocable and 
continuing corporate guarantee extended by Priority Jewels Pvt. Ltd. (PJPL)
Priority Gold Pvt Ltd                 LT Bk Fac / ST Bk  CARE BBB (SO*) 600     Revised from
                                      Fac                /CARE A3+              CARE BBB(SO*)
                                                                                / CARE A3
* based on the credit enhancement in the form of unconditional, irrevocable and
 continuing corporate guarantee extended by Priority Jewels Pvt. Ltd. (PJPL)
Priority Jewels Pvt Ltd               LT Bk Fac/ ST Bk   CARE BBB       1100    Revised from
                                      Fac                /CARE A3+              CARE BBB- /
                                                                                CARE A3
Pulkit Projects Pvt Ltd               LT Bk Fac          CARE BB-       95      Assigned
Pulkit Projects Pvt Ltd               LT / ST Bk Fac     CARE BB-/A4    50      Assigned
R R Stones Pvt Ltd                    LT Bk Fac          CARE BB-       80      Reaffirmed
Rajesh Sharma Contractor              LT Bk Fac          CARE BB-       30      Issuer Not
                                                                                Cooperating
Rci Industries And Technologies Ltd   LT Bk Fac          CARE BBB       1050    Assigned
Reliance Big Pvt Ltd                  NCD                CARE A+        1863.8  Reaffirmed
Renew Wind Energy (Budh 3) Pvt Ltd    LT Bk Fac          CARE BBB       3063    Assigned
Resins & Allied Products              LT Bk Fac          CARE BBB+      5       Reaffirmed
Revati Texwinka Pvt Ltd               LT Bk Fac          -              -       Withdrawn
Rmc Switchgears Ltd                   LT Bk Fac          CARE BB        98.6    -
Issuer not cooperating
Rolex Processors Pvt Ltd              LT Bk Fac          CARE B+        95.9    Revised from
                                                                                CARE BB-
Ruchi Hospitality Pvt Ltd             LT Bk Fac          CARE BB        418.4   Issuer Not
                                                                                Cooperating
S. Jogani Exports (India) Pvt Ltd     LT Bk Fac          CARE BBB       1300    Reaffirmed
Sagar Autotech Pvt Ltd                LT Bk Fac          -              -       Withdrawn
Sangam Handicrafts Pvt Ltd            LT Bk Fac          CARE B         58      Reaffirmed
Scion Exports Pvt Ltd                 LT Bk Fac          CARE BBB       90      Reaffirmed
Sebacic India Ltd                     LT Bk Fac          CARE D         259.5   Reaffirmed
Sebacic India Ltd                     LT/ ST Bk Fac      CARE D         159.3   Reaffirmed
Sfc Environmental Technologies Pvt LtdLT Bk Fac (CC)     CARE A-        100     Reaffirmed
Sfc Environmental Technologies Pvt LtdLT/ST Bk Fac (BG)  CARE A- /CARE  100     Reaffirmed
                                                         A1
Sgpharma Pvt Ltd                      LT Bk Fac          -              -       Withdrawn
Shiv Narain Periwal And Sons Pvt Ltd  LT Bk Fac          CARE B         110     Reaffirmed
Shree Jagannath Expressways Pvt Ltd   LT Bk Fac          -              -       Withdrawn
Shree Kalka Fibers Pvt Ltd            LT Bk Fac          CARE B+        60      Reaffirmed
Shri Laxmi Lal Patel                  LT Bk Fac          CARE BB-       40      Assigned
Sita Ram Rice Mills                   LT Bk Fac          CARE B+        65.6    Reaffirmed
Sps Educational Trust                 Long- term Bk Fac  CARE D         252.5   Issuer Not
                                                                                Cooperating
Suprint Sales                         LT Bk Fac          CARE B+        70      Reaffirmed
Suryansh Metal And Alloys             LT Bk Fac          CARE BB-       22      Assigned
Timarpur Okhla Waste Management CompanLT Bk Fac- TL      CARE AA- (SO)  390     Revised from
Pvt Ltd                                                                         CARE A+ (SO)
(reduced from 49.00crs)
Timarpur Okhla Waste Management CompanLT Bk Fac-ECB      CARE BBB- (SO) 685.5   Reaffirmed
Pvt Ltd
(reduced from 95.43crs)
Timarpur Okhla Waste Management CompanLT Bk Fac-CC limit CARE BBB- (SO) 30      Reaffirmed
Pvt Ltd
Wadhawan Global Capital Ltd.          NCDs@              -              -       Withdrawn
@ CARE has withdrawn the rating assigned to the Non-Convertible Debentures 
 of Rs.500 crore of Wadhawan Global Capital Ltd. with immediate effect,
 as company has not issued any non-convertible debentures under aforementioned
 non-convertible debentures issue and there is no amount
 outstanding under the issue as on date. 
Wadhawan Global Capital Ltd.          NCDs#              CARE AAA       2250    Final Rating
                                                                                Assigned
#The NCD rating is based on the credit enhancement in the form of a pledge
 of Optionally Convertible Debentures (OCDs) issued by DAIPL 
 (a 100% subsidiary of Dewan Housing Finance Corporation Ltd. (DHFL)).
  Also an unconditional and irrevocable revolving DSRA guarantee has been
  issued by DHFL in favor of the aforementioned OCDs of DAIPL. 
Wadhawan Global Capital Ltd.          NCDs*              CARE AAA       19000   Final Rating
                                                                                Assigned
* The rating is based on pledge of Compulsorily Convertible Debentures (CCDs)
 issued by DIL (DHFL Investments Ltd) (a 100% subsidiary of DHFL) which in 
 turn are backed by the unconditional put option from DHFL 
West Coast Fine Foods (India) Pvt Ltd LT Bk Fac          CARE BBB-      240     Reaffirmed
(reduced from 34.00crs)
West Coast Fine Foods (India) Pvt Ltd LT/ST Fund based   CARE BBB-      250     Reaffirmed
                                      Bk Fac             /CARE A3
(enhanced from 18.89crs)
West Coast Frozen Foods Pvt Ltd       LT Bk Fac          CARE BBB-      144.8   Reaffirmed
(reduced from 17.59crs)
Zonac Knitting Machines Pvt Ltd       LT Bk Fac          CARE BBB+      218.4   Revised from
                                                                                CARE BBB
Zonac Knitting Machines Pvt Ltd       Long/ST Bk Fac     CARE BBB+/A2   21.7    Revised from
                                                                                CARE BBB/A3+
Zuberi Engineering Company            LT Bk Fac          CARE BB+       80      Reaffirmed
Zuberi Engineering Company            LT/ST Bk Fac       CARE BB+/A4+   900     Reaffirmed
LONG TERM RATINGS:
-------------------
Aacharan Enterprises Pvt Ltd          LT Bk Fac          CARE BB        150     Revised from
                                                                                CARE BB
Amreli Renewable Energy Pvt Ltd       LT Bk Fac          CARE BBB+      1410    Revised from
                                                                                CARE BBB
Ananth Solar Power Maharashtra Pvt.   LT Bk Fac          CARE A         100     Reaffirmed
Ltd
Annapurna Cotex Impex                 LT Bk Fac          CARE BB        63.8    Revise from
                                                                                CARE B+
Atc Telecom Infrastructure Pvt Ltd    LT Bk Fac          CARE AA-       24432.8 -
Continues on Credit Watch with Developing Implications
Baid Leasing And Finance Co. Ltd      LT Bk Fac          CARE BBB-      450     Reaffirmed
Bhagat Forge Pvt Ltd                  LT Bk Fac          CARE BB-       62.3    Revised from
                                                                                CARE B+
Bharat Industrial Works (Bhilai) Pvt  LT Bk Fac          CARE B-        70      Assigned
Ltd
Bharat Industrial Works (Bhilai) Pvt  LT Bk Fac          CARE B-        70      Assigned
Ltd
Bowreah Jute Mills Pvt Ltd            LT Bk Fac          CARE BBB-      150     Revised from
                                                                                CARE BB
Celite Tyre Corporation               LT Bk Fac          CARE BB        120     Revised from
                                                                                CARE BB+
Issuer Not Cooperating; based on best available information
Celite Tyre Pvt Ltd                   LT Bk Fac          CARE BB        50      Revised from
                                                                                CARE BB+
Issuer Not Cooperating; based on best available information
Cent Bank Home Finance Ltd            LT Bk Fac          CARE BBB+      1000.4  Revised from
                                                                                CARE A-
(reduced from 131.83 CR)
Cent Bank Home Finance Ltd            NCD Issue (Tier-II)CARE BBB+      300     Revised from
                                                                                CARE A-
Curo India Pvt. Ltd.                  LT Bk Fac          -              -       Withdrawn
Dalmia Refractories Ltd               LT/ST Bk Fac -     -              -       Withdrawn *
                                      Non-Fund Based -
                                      LER*
*The LER facility is a sublimit of the non-fund based limit now and clubbed under Rs.40 crore
rated Non-Fund based Facility
Dalmia Refractories Ltd               LT Bk Fac - Fund   CARE A-        400     Reaffirmed
                                      Based - CC
Dalmia Refractories Ltd               LT/ST Bk Fac -     CARE A- /CARE  400     Reaffirmed
                                      Non-Fund Based -   A2+
                                      LC / BG / Buyer’s Credit/LER
Deneb & Pollux Tours & Travels Pvt LtdST Bk Fac          CARE BBB-      100     Reaffirmed
(Enhanced from 8.85 CR)
Eternal Motors Pvt Ltd                LT Bk Fac          CARE BB        53.1    Reaffirmed
Eternal Motors Pvt Ltd                Long / ST Bk Fac   CARE BB/A4+    190     Reaffirmed
Future Market Network Ltd.            LT Bk Fac          -              -       Withdrawn
Ginni Filaments Ltd                   LT Bk Fac          CARE BBB-      2751.2  Reaffirmed
Idaa Infrastructure Pvt Ltd           LT Bk Fac TL       -              -       Withdrawn
Investment & Precision Castings Ltd   LT Bk Fac          CARE BBB       658.7   Revised from
                                                                                CARE BBB-
Jalore Jaswantpura Bot Project Pvt LtdLT Bk Fac          -              -       Withdrawn
Jaypee Powergrid Ltd                  LT Bk Fac          CARE A-        4099.9  Reaffirmed
(reduced from 464.13 CR)
Jyoti Vidyapeeth Trust                LT Bk Fac          CARE BBB-      310.2   -
Issuer Not Cooperating; based on best available information
Kandla Agro And Chemicals Pvt Ltd     LT Bk Fac          CARE BBB       108     Reaffirmed
(Reduced from Rs.17.84 crore)
Kandla Agro And Chemicals Pvt Ltd     LongTerm/ST Bk Fac CARE BBB /CARE 2300    Reaffirmed
                                                         A3+
(Reduced from Rs.260.00 crore)
Kh Foges India Pvt Ltd                LT Bk Fac          -              -       Withdrawn
Kiocl Ltd                             LT Bk Fac          CARE AA        10      Reaffirmed
Kiocl Ltd                             Long / ST Bk Fac   CARE AA/A1+    6840    Reaffirmed
Kirloskar Electric Co. Ltd            LT Bk FacTL        CARE D         210     Downgraded
                                                                                from CARE C
Kirloskar Electric Co. Ltd            LT Bk FacCC        CARE D         858     Reaffirmed
L&T Infrastructure Development ProjectNCD issue          CARE AA        1200    Reaffirmed
Ltd
Madhav Infracon (Astha Kannod CorridorLT Bk Fac          CARE BBB       42.4    Reaffirmed
Pvt Ltd
(Reduced from Rs.6.20 crore)
Madhav Infracon (Bhopal Vidisha       LT Bk Fac          CARE BBB+      20.9    Reaffirmed
Corridor) Pvt Ltd
(reduced from Rs.4.39 crore)
Madhav Infracon (Vidisha Kurwai       LT Bk Fac          CARE BBB-      84.6    Revised from
Corridor) Pvt Ltd                                                               CARE BBB-
(Reduced from Rs.11.37 crore)
Manne Laboratories Pvt Ltd            LT Bk Fac          CARE B+        137.4   Reaffirmed
Maruti Granites & Marbles Pvt Ltd     LT Bk Fac          CARE BB        110     Reaffirmed
Melco India Pvt Ltd                   LT Bk Fac          CARE BBB       100     Assigned
Melco India Pvt Ltd                   LT/ST Bk Fac       CARE BBB/A3+   580     Assigned
Mitra Guha Builders (India) Company   LT Bk Fac          CARE BB-       25      Assigned
Mitra Guha Builders (India) Company   LT / ST Bk Fac     CARE BB-/A4    132     Assigned
Modi Solvex                           LT Bk Fac          CARE B+        102.5   Revised from
                                                                                CARE B
Narendra Sharma                       LT Bk Fac          CARE BB        2.5     Revise from
                                                                                CARE BB-
Narendra Sharma                       LT/Shortterm Bk FacCARE BB/A4     200     Revise from
                                                                                CARE BB-/A4
National Bank For Agriculture And RuraLT Bk Fac          CARE AAA       67060   Reaffirmed
Development
National Exports Corporation          LT Bk Fac / ST Bk  CARE BB / A4+  75      Reaffirmed
                                      Fac
Navayuga Devanahalli Tollway Pvt Ltd  LT Bk Fac ((Senior CARE A-        2532.6  Reaffirmed
                                      Debt)
(reduced from Rs.254.31 crore)
Navayuga Devanahalli Tollway Pvt Ltd  LT Instrument- NCD CARE A-        3673.2  Reaffirmed
(reduced from Rs.368.94 crore)
Navayuga Devanahalli Tollway Pvt Ltd  LT Bk Fac          CARE BBB+      2025.7  Reaffirmed
                                      ((Subordinate Debt)
(reduced from Rs.203.48 crore)
Navayuga Dichpally Tollway Pvt Ltd    LT Bk Fac          CARE BBB       1440.6  Reaffirmed
(reduced from 163.10 CR)
Navayuga Udupi Tollway Pvt Ltd        LT Bk Fac          CARE BB+       6123.6  Reaffirmed
Oracle Granito Ltd                    LT Bk Fac          CARE BBB-      407.2   Reaffirmed
Partap Spintex Pvt Ltd                LT Bk Fac          CARE BBB+      640     Revised from
                                                                                CARE BBB
Pascos                                LT Bk Fac          CARE BBB       750     Revised from
                                                                                CARE BBB-
Pascos                                LT Bk Fac          CARE BBB       750     Revised from
                                                                                CARE BBB-
Pearl Beverages Ltd                   LT Bk Fac          CARE BB        1002.5  Revised from
                                                                                CARE BB-
Pearl Bottling Pvt Ltd                LT Bk Fac          -              -       Withdrawn
Pearl Drinks Ltd                      LT Bk Fac          CARE BB        60      Revised from
                                                                                CARE BB-
Power Finance Corporation Ltd         LT Borrowing       CARE AAA       370000  Assigned
                                      Programme for FY-19
Power Finance Corporation Ltd         LT Borrowing       CARE AAA       370000  Assigned
                                      Programme for FY-19
Quatrro Global Services Pvt Ltd       LT Bk Fac          CARE BBB+      588.2   -
Rating put under Credit watch with Developing Implications, (reduced from
62.90)
Rajesh Machine Tools Pvt Ltd          LT Bk Fac          CARE B+        27.5    Revised from
                                                                                CARE BB-
Rajesh Machine Tools Pvt Ltd          LongTerm/ST Bk Fac CARE B+ /CARE  30      Revised from
                                                         A4                     CARE BB-
Rama Cotspin Pvt Ltd                  LT Bk Fac          CARE BBB+      150     Revised from
                                                                                CARE BB+
Retail Light Techniques India Ltd.    LT Bk Fac          CARE BBB-      170     Reaffirmed
Riddhi Siddhi Mall Management Co. Pvt.LT Bk Fac          -              -       Withdrawn
Ltd.
Rmc Switchgears Ltd                   LT Bk Fac          CARE BB        98.6    -
Issuer not cooperating
Saga Automotive (India) Pvt Ltd       LT Bk Fac          CARE B         212.1   -
Issuer not cooperating
Samaroh Hospitality Llp               LT Bk Fac          CARE B+        83.5    Assigned
Satyamev Eminence                     LT Bk Fac          CARE BB        250     Reaffirmed
(Enhanced from Rs. 15.00 crore)
Shiv Narain Periwal And Sons Pvt Ltd  LT Bk Fac          CARE B         110     Reaffirmed
Shri Laxmi Lal Patel                  LT Bk Fac          CARE BB-       40      Assigned
Sita Ram Rice Mills                   LT Bk Fac          CARE B+        65.6    Reaffirmed
Tamil Nadu Urban Finance And          LT Bk Fac          CARE BBB+      3686.9  Reaffirmed
Infrastructure Development Corporation
Ltd
Tamil Nadu Urban Finance And          Issuer Rating*     CARE BBB+      -       Reaffirmed
Infrastructure Development Corporation
Ltd
*The Issuer rating is subject to the company s overall gearing not exceeding 4.0x (projected
level as on 31-03-2019)
Tp Ajmer Distribution Ltd             LT Bk Fac          CARE A         1000    Assigned
Vijai Shree Pvt Ltd                   LT Bk Fac          CARE BBB-      70      Reaffirmed
Wadhawan Holdings Pvt. Ltd.           Bk Fac-TLLT        -              -       Withdrawn
Welspun Flooring Ltd                  LT Bk Fac          CARE A-(SO)    6050    Assigned
Yash Knitwear                         LT Bk Fac          CARE BB-       120     Reaffirmed
Yashomala Farming And Tourism Pvt Ltd LT Bk Fac          CARE BB+       550     Reaffirmed
    
--------------------------------------------------------------------------------------------
$: 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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