0
0
Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 6, 2019.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------- ---------- ------ ------- ---------
SHORT TERM RATINGS:
-------------------
Aryan Constructions ST Bk Fac CARE A4 50
Reaffirmed and Non-Cooperation revoked
Bharat Industrial Enterprises Ltd ST Bk Fac - - Reaffirmed
and Withdrawn
Dolphin Offshore Enterprises (India) ST non-fund based CARE D 617.5 Revised from
Ltd Bk Fac CARE A4
Dolphin Offshore Enterprises (India) ST fund based Bk CARE D 140 Revised from
Ltd Fac – optionally CARE A4
convertible debenture
Gravita India Ltd ST Bk Fac CARE A2 310 Revised from
CARE A2+
Gravita Metal Inc ST Bk Fac * CARE A2 (CE) 7.2 Revised from
CARE A2+ (SO)
* backed by unconditional and irrevocable corporate guarantee provided by Gravita India Ltd. to
the above mentioned bank facilities.
Jk Lakshmi Cement Ltd ST Bk Fac CARE A1+ 7000 Reaffirmed
Jk Lakshmi Cement Ltd CP* CARE A1+ 1750 Reaffirmed
*Carved out of working capital limits
K G Denim Ltd ST Bk Fac CARE A3 1170.1 Reaffirmed
reduced from 122.22crs)
Krbl Ltd CP* CARE A1+ 2000
(reduced from 700.00 crs)*carved out of the sanctioned working capital limits of the
company/Continues on credit watch with negative implications.
M2M Cybernetics Pvt Ltd ST Bk Fac CARE A4+ 91.4 Reaffirmed
Mahavir Coal Washeries Pvt Ltd ST Bk Fac CARE A4 40 Revised from
CARE A4+
(Issuer Not Cooperating) Based on best available information
Saifuddin Appalal Mulla ST Bk Fac - - Reaffirmed
and Withdrawn
S S Infrastructure Development Short -term Bk Fac CARE A4 80
Consultants Ltd
(Formerly Known As S S
Infrastructure Development Consultants Ltd)
(Issuer Not Cooperating) Based on best available information
Sai Security Printers Pvt Ltd ST Bk Fac CARE A3 80 Reaffirmed
Sanvi Spinning Mill Pvt Ltd ST Bk Fac CARE A4+ 22.5 Revised from
CARE A4
(reduced from 2.75 crs)
Sgs Marine Habitability Pvt Ltd ST Bk Fac CARE A4 60
(Issuer Not Cooperating) Based on best available information
Shri Ram Commodities ST Bk Fac CARE A4 137.5 Assigned
Smilax Laboratories Ltd ST Bk Fac CARE A4 187.9 Revised from
CARE D
(Issuer Not Cooperating) Based on best available information
Today Footwear Pvt Ltd ST Bk Fac - - Withdrawn
Vidyut Controls And Automation Pvt LtdST Bk Fac - - Reaffirmed
and Withdrawn
Vrijesh Natural Fibre And Fabrics Pvt ST Bk Fac CARE A3 110 Reaffirmed
Ltd
Vrijesh Natural Fibre And Fabrics Pvt Proposed ST Bk Fac CARE A3 25 Reaffirmed
Ltd
York Transport Equipment (India) Pvt ST Bk Fac - - Withdrawn
Ltd
MEDIUM TERM RATINGS:
-------------------
Jk Lakshmi Cement Ltd Fixed Deposits CARE AA- (FD) 500 Reaffirmed
Stable
Dolphin Offshore Enterprises (India) Fixed Deposit CARE D (FD) 50 Revised from
Ltd Programme CARE C (FD)
Stable
LONG TERM RATINGS:
-------------------
Achintya Solar Power Pvt Ltd LT Bk Fac (TL) - - Withdrawn
Achintya Solar Power Pvt Ltd LT/ST Bk Fac (BG) - - Withdrawn
Advansys (India) Pvt Ltd LT Bk Fac CARE BB- Stable176.4 Assigned
Animala Wind Power Pvt Ltd LT Bk Fac (TL) - - Withdrawn
Aryan Constructions LT Bk Fac CARE BB- Stable4.5 Revised from
CARE B+ Stable
Bharat Industrial Enterprises Ltd LT/ST Bk Fac - - Reaffirmed
and Withdrawn
Bharat Industrial Enterprises Ltd LT Bk Fac - - Reaffirmed
and Withdrawn
Ch. Veeraraghavulu Construction Pvt LT Bk Fac CARE BB+ Stable60 Reaffirmed
Ltd
Ch. Veeraraghavulu Construction Pvt LT/ST Bk Fac CARE BB+ 240 Reaffirmed
Ltd Stable/CARE A4+
Dolphin Offshore Enterprises (India) LT fund based Bk CARE D 255 Revised from
Ltd Fac CARE C Stable
Esmart Energy Solutions Pvt Ltd Long -term Bk Fac - 0 Withdrawn
Esmart Energy Solutions Pvt Ltd LT Bk Fac CARE BB- Stable465.8 Reaffirmed
(Enhanced from Rs. 20.00 crore)
Gravita India Ltd LT Bk Fac CARE BBB+ 447.9 Revised from
Stable CARE A-
Negative
Gravita India Ltd LT/ST Bk Fac CARE BBB+ 2090 Revised from
Stable /CARE A2 CARE A-
Negative / CARE
A2+
Gravita Metal Inc LT Bk Fac * CARE BBB+ (CE) 90 Revised from
Stable CARE A- (SO)
Negative
* backed by unconditional and irrevocable corporate guarantee provided by Gravita India Ltd. to
the above mentioned bank facilities
Greenko Energies Pvt Ltd LT Instruments - - Withdrawn
(NCDs)
Grinibhrit Solar Power Pvt Ltd LT Bk Fac (TL) - - Withdrawn
Grinibhrit Solar Power Pvt Ltd LT/ST Bk Fac (BG) - - Withdrawn
Iswarya Enterprises LT Bk Fac - - Reaffirmed
and Withdrawn
Jk Lakshmi Cement Ltd CP** - - Withdrawn
**CARE has withdrawn the rating assigned to the Commercial Paper issue (standalone) of the
company with immediate effect, as the company has repaid the aforementioned issue in full and
there is nil amount outstanding under the said issue as on date
Jk Lakshmi Cement Ltd LT Bk Fac CARE AA- Stable14128.4 Reaffirmed
Jk Lakshmi Cement Ltd LT Instruments CARE AA- Stable3366 Reaffirmed
K G Denim Ltd LT Bk Fac CARE BBB- 1142.2 Revised from
Negative CARE BBB-
Stable
(reduced from 137.75 crs)
Khushbu Auto Finance Ltd LT Bk Fac CARE A+ (CE) 1150 Revised from
Negative CARE A+ (SO)
Stable
M2M Cybernetics Pvt Ltd LT Bk Fac CARE BB+ Stable110.5 Reaffirmed
(reduced from 11.13 crs)
Mahavir Coal Washeries Pvt Ltd LT Bk Fac CARE BB 260 Revised from
CARE BB+
(Issuer Not Cooperating) Based on best available information
Mahavir Coal Washeries Pvt Ltd LT/Shortterm Bk FacCARE BB/CARE A4100 Revised from
CARE BB+/
CARE A4+
(Issuer Not Cooperating) Based on best available information
Mcnally Bharat Engineering Co Ltd Non- Convertible CARE D (RPS) 435
Redeemable PS
(Issuer Not Cooperating) Based on best available information
N.B. Commercial Enterprises Ltd LT/ST Bk Fac CARE BBB (CE) 250 Reaffirmed
Stable/CARE A3
(CE)
Nagaur Mukundgarh Highways Pvt Ltd LT Bk Fac* CARE AA- (CE) 2355.9 Reaffirmed
Positive
*backed by unconditional and irrevocable corporate guarantee extended by G R Infraprojects
Limited (GRIL rated CARE AA- Positive/CARE A1+).
Nagaur Mukundgarh Highways Pvt Ltd LT/Shortterm Bk CARE AA- (CE) 381 Reaffirmed
Fac* Positive/CARE
A1+(CE)
*backed by unconditional and irrevocable corporate guarantee extended by G R Infraprojects
Limited (GRIL rated CARE AA- Positive/CARE A1+).
Orange Agar Wind Power Pvt Ltd LT Bk Fac - - Withdrawn
Rising Sun Power Pvt Ltd Long -term Bk Fac CARE D 52.6
(Issuer Not Cooperating) Based on best available information
S S Infrastructure Development Long -term Bk Fac CARE BB Stable 20
Consultants Ltd
(Formerly Known As S S
Infrastructure Development Consultants Ltd)
(Issuer Not Cooperating) Based on best available information
Sai Security Printers Pvt Ltd LT Bk Fac CARE BBB- 346.9 Reaffirmed
Stable
(enhanced from 27.00 crs)
Saifuddin Appalal Mulla LT Bk Fac - - Reaffirmed
and Withdrawn
Sanvi Spinning Mill Pvt Ltd LT Bk Fac CARE BB+ Stable636.6 Revised from
CARE BB Stable
(reduced from 68.54 crs)
Sanvi Spinning Mill Pvt Ltd LT / Shortterm Bk CARE BB+ 50 Revised from
Fac Stable/CARE A4+ CARE BB Stable
(reduced from 6.50 crs)
Savani Infracon Llp LT Bk Fac CARE B+ Stable 250
(Issuer Not Cooperating) Based on best available information
Sayaji Ingritech Llp LT Bk Fac CARE BBB (CE) 31.9 Reaffirmed
Stable
Sayaji Ingritech Llp LT/ST Bk Fac CARE BBB (CE) 30 Reaffirmed
Stable/CARE A3
(CE)
Sayaji Seeds Llp LT/ST Bk Fac CARE BBB (CE) 90 Reaffirmed
Stable/CARE A3
(CE)
Sgs Marine Habitability Pvt Ltd Long -term Bk Fac CARE B+ Stable 140
(Issuer Not Cooperating) Based on best available information
Shivsahaj Engineering And Plastics PvtLT Bk Fac CARE B+ Stable 96.3 Reaffirmed
Ltd
(reduced from 10.43 crs)
Smilax Laboratories Ltd LT Bk Fac CARE B 1280.8 Revised from
CARE D
(Issuer Not Cooperating) Based on best available information
Smilax Laboratories Ltd LT/ST Bk Fac CARE B/CARE A4 50 Revised from
CARE D
(Issuer Not Cooperating) Based on best available information
Snehith Enterprises LT Bk Fac - - Reaffirmed
and Withdrawn
Sri Maruthi Cashews LT Bk Fac CARE B Stable 64.6 Revised from
CARE B+ Stable
Suvarchas Solar Power Pvt Ltd LT Bk Fac (TL) - - Withdrawn
Suvarchas Solar Power Pvt Ltd LT/ST Bk Fac (BG) - - Withdrawn
Svm Oil Industries LT Bk Fac CARE B Stable 140 Assigned
Today Footwear Pvt Ltd LT Bk Fac - - Withdrawn
Vidyut Controls And Automation Pvt LtdLT Bk Fac - - Reaffirmed
and Withdrawn
Vishvarupa Solar Power Pvt Ltd LT Bk Fac (TL) - - Withdrawn
Vishvarupa Solar Power Pvt Ltd LT/ST Bk Fac (BG) - - Withdrawn
Vrijesh Natural Fibre And Fabrics Pvt Proposed LT Bk Fac - - Withdrawn
Ltd
Vrijesh Natural Fibre And Fabrics Pvt LT Bk Fac CARE BBB Stable37.6 Reaffirmed
Ltd
York Transport Equipment (India) Pvt LT Bk Fac - - Withdrawn
Ltd
--------------------------------------------------------------------------------------------
$: 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)
Source: reuters
