TLT Engineering India Private Limited
|
|
- Jerome Cox
- 5 years ago
- Views:
Transcription
1 Ratings TLT Engineering India Private Limited Facilities Amount (Rs. crore) Ratings 1 Remarks Long-term Bank Facilities 9.45 CARE BBB- (Triple B Minus) Reaffirmed Long/Short-term Bank Facilities CARE BBB- (Triple B Minus) / Reaffirmed & Reclassified (from Shortterm to Long-term / Short-term) CARE A3 (A Three) Short-term Bank Facilities 4.00 CARE A3 (A Three) Reaffirmed Total Facilities Rating Rationale The ratings assigned to the bank facilities of TLT Engineering India Private Limited (TLT) continue to derive strength from significant experience and track record of the promoters in the manufacturing of industrial fans and accessories, moderate order book position, comfortable capital structure and adequate debt coverage indicators. The ratings are, however, constrained by the decline in operating profitability margins during FY14 (refers to period April 1 to March 31), high working capital-intensive nature of operations and cyclicality in the end-user industry. TLT s ability to efficiently manage its working capital, maintain comfortable capital structure & profitability along with timely execution of orders remains the key rating sensitivities. Background Incorporated in 1988, TLT Engineering India Private Limited (TLT) is engaged in designing, manufacturing, and after-sales service of industrial fans and its accessories which find application in heavy engineering, oil & gas, steel and cement sectors. The manufacturing facility of TLT is located at Indrad (district Mehsana), Gujarat. Key updates Moderate order book position providing revenue visibility As on September 30, 2014, the TLT has order book of Rs crore which is around 0.73 times of FY14 total income, providing revenue visibility in the short term. The current order book of the company consist of orders from reputed client base (viz major original equipment manufacturers (OEMs) such as Thermax Limited, ISGEC Heavy Engineering Limited, Steel Authority of India Limited, HPCL-Mittal Energy Limited, ThyssenKrupp Industries India Private Limited and others), from where it has been consistently receiving several repeat orders over the past few years. Furthermore, going forward, the ability of TLT to continuously source orders would be critical from credit perspective. Favourable financial risk profile with low gearing and adequate coverage indicators The overall capital structure of the company has been comfortable due to low reliance on debt and has further improved (with overall gearing stood at 0.08 times March 31, 2014, from 0.17 times as on March 31, 2013) on account of accretion of profits and lower utilization of working capital borrowings to fund operations. On account of this, the debt coverage indicators have also improved [with interest coverage at 4.20x and total debt to GCA of 0.98 for FY14] and continued to remain comfortable. Apart from the above, the company also has a healthy liquidity position due to un-utilized working capital borrowings (average utilization for the past 12 months ending September 2014 has been 73%) and free cash & bank balances (amounting to Rs.4.07 crore as on March 31, 2014). Stable operating income though sharp decline in profitability In FY14, the growth of income (grown by 3.78% vis-à-vis FY13) has remained marginal on the back of slower execution of orders and holding up the capital expenditure in key consuming industries. Moreover, In H1FY15, TLT has posted total operating income of Rs crore. Moreover, on account of slow-down in its primary client industry, operating profitability margins have declined (from 19.14% in FY13 to 8.51% in FY14) owing to competitive bidding for availing orders and retaining its client base. Furthermore, in line with 1 Complete definitions of the ratings assigned are available at and other CARE publications 1
2 operating margins the net profit margin has also declined to 2.80% in FY14 from 9.68% in FY13. Elongated operating cycle Working capital cycle remained elongated in FY14 on account of high inventory and collection period. The inventory holding was high due to work in process inventory on account of slower execution of projects. Furthermore, of the total order value, around 15-20% of the retention money is blocked and is released only post successful testing and commissioning of the projects. However, comfort can be drawn, as the company has reputed client base, thus counter party risk is off-set to an extent. On account of high working capital intensity utilisation of working capital remained moderately high at 73% for past 12 months ended September, However, TLT has modified the payment terms for the new orders to reduce the blocking of funds arising due to delay by other vendors for execution of project. Prospects The growth prospects of TLT would be governed by its ability to continuously maintain healthy order book and conversion of order amidst the sluggish economic scenario. Furthermore, the ability of TLT to maintain favourable financial risk profile would be critical for a credit profile. Financial Performance (Rs. Cr) For the period ended / as at March 31, (12m, A) (12m, A) (12m, A) Working Results Net Sales Total Operating income PBILDT Interest Depreciation PBT PAT (after deferred tax) Gross Cash Accruals Financial Position Equity Capital Networth Total capital employed Key Ratios Growth Growth in Total income (%) 6.98 (16.30) 3.78 Growth in PAT (after D.Tax) (%) (70.01) Profitability PBILDT/Total Op. income (%) PAT (after deferred tax)/ Total income (%) ROCE (%) Solvency Long-term Debt Equity ratio (times) Overall gearing ratio(times) Interest coverage(times) Term debt/gross cash accruals (years) Total debt/gross cash accruals(years) Liquidity Current ratio(times)
3 Quick ratio(times) Turnover Average collection period (days) Average inventory (days) Average creditors (days) Operating cycle (days) Details of rated Facilities 1. Long-term facilities 1.A. Fund-based term loans Sr. No. Name of Bank Fund-based Limits (Rs. crore) Rated amount* Total fund-based limits 1. Canara Bank TOTAL *Outstanding as on November 11, B. Fund-based working capital limits Sr. No. Name of Bank Fund-based Limits (Rs. crore) Cash Credit Total fund-based limits 1. Canara Bank TOTAL Total Long-term facilities (1A+1B) - Rs.9.45 crore 2. Long/Short-term facilities 2.A. Non-fund-Based Limits Sr. No. Name of Bank Non-fund-Based Limits (Rs. crore) Bank Guarantee Total non fund-based limits 1 Canara Bank TOTAL Total long/short-term facilities - Rs crore 3. Short-term facilities 3.A. Non-fund-Based Limits Sr. No. Name of Bank Non-fund-Based Limits (Rs. crore) Letter of Credit Total non-fund-based limits 1 Canara Bank 4 4 TOTAL 4 4 Total Long/Short-term facilities - Rs.4 crore Total Bank Facilities (1 +2+3) = Rs crore Analyst Contact Name: Mr. Nitesh Dhoot Tel: nitesh.dhoot@careratings.com (This follows our brief rational for entity published on 05 December 2014) 3
4 Disclaimer: CARE s ratings are opinions on credit quality and are not recommendations to sanction, renew, disburse or recall the concerned bank facilities or to buy, sell or hold any security. CARE has based its ratings on information obtained from sources believed by it to be accurate and reliable. CARE does not, however, guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Most entities whose bank facilities/instruments are rated by CARE have paid a credit rating fee, based on the amount and type of bank facilities/instruments. In case of partnership/proprietary concerns, the rating assigned by CARE is based on the capital deployed by the partners/proprietor and the financial strength of the firm at present. The rating may undergo change in case of withdrawal of capital or the unsecured loans brought in by the partners/proprietor in addition to the financial performance and other relevant factors. 4
5 CONTACT Head Office Mumbai Mr. D.R. Dogra Mr. Rajesh Mokashi Managing Director Dy. Managing Director Mobile: Mobile: Ms. Meenal Sikchi Mr. Ankur Sachdeva Vice President - Bank Loan & Instrument Rating Vice President - Bank Loan & Financial Services Mobile: Mobile: meenal.sikchi@carerating.com ankur.sachdeva@careratings.com CREDIT ANALYSIS & RESEARCH LIMITED Corporate Office: 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Tel: Fax: care@careratings.com Other Office: 503, Kaledonia, Sahar Road, Near Andheri Railway Station, Andheri (E), Mumbai Tel: Fax: AHMEDABAD Mr. Mehul Pandya 32, Titanium, Prahaladnagar Corporate Road, Satellite, Ahmedabad Cell: Tel: mehul.pandya@careratings.com BENGALURU Mr. Dinesh Sharma Unit No , 11th Floor, Prestige Meridian II, No. 30, M.G. Road, Bangalore Cell: Tel: , dinesh.sharma@careratings.com CHANDIGARH Mr. Sajan Goyal 2nd Floor, S.C.O , Sector 34-A, Chandigarh Cell: Tel: / 09 sajan.goyal@careratings.com CHENNAI Mr. V Pradeep Kumar Unit No. O-509/C, Spencer Plaza, 5th Floor, No. 769, Anna Salai, Chennai Cell: Tel: / pradeep.kumar@careratings.com HYDERABAD Mr. Saikat Roy 401, Ashoka Scintilla, , Himayat Nagar, Hyderabad Tel: saikat.roy@careratings.com JAIPUR Mr. Rahul Jain 304, Pashupati Akshat Heights, Plot No. D-91, Madho Singh Road, Near Collectorate Circle, Bani Park, Jaipur Cell: Tel: / 14 rahul.jain@careratings.com KOLKATA Ms. Priti Agarwal 3rd Floor, Prasad Chambers, (Shagun Mall Bldg.) 10A, Shakespeare Sarani, Kolkata Cell: Tel: priti.agarwal@careratings.com NEW DELHI Ms. Swati Agrawal 13th Floor, E-1 Block, Videocon Tower, Jhandewalan Extension, New Delhi Cell: Tel: swati.agrawal@careratings.com PUNE Mr. Rahul Patni 9th Floor, Pride Kumar Senate, Plot No. 970, Bhamburda, Senapati Bapat Road, Shivaji Nagar, Pune Cell: Tel: rahul.patni@careratings.com CIN - L67190MH1993PLC
TMT Steels Private Limited
Ratings TMT Steels Private Limited Facilities Amount (Rs. crore) Ratings 1 Remarks Long-term Bank Facilities 5 CARE BB- (Double B Minus) Assigned Short-term Bank Facilities 5 CARE A4 (A Four) Assigned
More informationAquarelle India Pvt. Ltd.
Ratings Aquarelle India Pvt. Ltd. Facilities Amount (Rs. crore) Ratings 1 Remarks Long-term Bank Facilities-Term Loan 42.00 CARE A- (A Minus) Assigned Long-term Bank Facilities-Fund based 54.00 CARE A-
More informationRoop Polymers Limited
Ratings Roop Polymers Limited Facilities Amount (Rs. crore) Ratings 1 Remarks Long-term Bank Facilities 75.67 (enhanced from Rs.60.85 crore) CARE BBB (Triple B) Reaffirmed Short-term Bank Facilities 19.80
More informationSHIVA INDUSTRIAL SECURITY AGENCY (GUJARAT) PRIVATE LIMITED JANUARY 19, 2017
SHIVA INDUSTRIAL SECURITY AGENCY (GUJARAT) PRIVATE LIMITED JANUARY 19, 2017 Ratings Facilities Amount Long-term Bank Facilities 12.69 Short-term Bank Facilities 1.00 13.69 Total (Rupees Thirteen crore
More informationShirdi Sai Electricals Ltd
Ratings Shirdi Sai Electricals Ltd Facilities Amount (Rs. crore) Ratings 1 Remarks Long-term Bank Facilities 40 (enhanced from 15) CARE BBB+ (Triple B Plus) Revised from CARE BBB (Triple B) Short-term
More informationUnidrug Innovative Pharma Technologies Limited
Ratings Unidrug Innovative Pharma Technologies Limited Facilities Amount (Rs. crore) Ratings 1 Remarks Long-term Bank Facilities 7.10 (reduced from 7.30) CARE BB (Double B) Revised from CARE BB- (Double
More informationAmtek Auto Ltd Ratings Facilities Amount (Rs. crore) Ratings 1 Remarks Proposed Non-Convertible Debentures 600 CARE AA (Double A) Assigned Total 600
Amtek Auto Ltd Ratings Facilities Amount (Rs. crore) Ratings 1 Remarks Proposed Non-Convertible Debentures 600 CARE AA (Double A) Assigned Total 600 Rating Rationale The rating derives strength from the
More informationNovember 07, 2014 CARE ASSIGNS CARE AA RATING TO NCD ISSUE OF TATA POWER COMPANY LIMITED & REAFFIRMS THE RATING OF OUSTANDING INSTRUMENTS
November 07, 2014 CARE ASSIGNS CARE AA RATING TO NCD ISSUE OF TATA POWER COMPANY LIMITED & REAFFIRMS THE RATING OF OUSTANDING INSTRUMENTS Ratings Facilities Amount (Rs. crore) Ratings 1 Remarks Perpetual
More informationEMT Megatherm Pvt Ltd
Ratings EMT Megatherm Pvt Ltd Facilities Amount Ratings 1 Remarks Long term Bank Facilities 17.1 (reduced from 18) CARE BB+ (Double B Plus) Reaffirmed Short term Bank Facilities 27 (reduced from 28) CARE
More informationCentral Bank of India
Central Bank of India May 25, 2018 Ratings Facilities/Instruments Amount Rating 1 Rating Action Lower Tier II Bond Series XIII - - Withdrawn Details of instruments/facilities in Annexure-1 Detailed Rationale,
More informationSakar Healthcare Private Limited
Ratings Sakar Healthcare Private Limited Facilities Amount (Rs. crore) Ratings 1 Remarks Long-term Bank Facilities 18.48 (reduced from 20.30) CARE BBB- (Triple B Minus) Reaffirmed Short-term Bank Facilities
More informationTrimex Sands Private Limited
Ratings Trimex Sands Private Limited Facility Amount (Rs. crore) Ratings 1 Remarks Long-term Bank Facilities 29.63 (reduced from 41.57) CARE BBB+ (Triple B Plus) Reaffirmed Total Facilities 29.63 Rating
More informationBansal Construction Works
Bansal Construction Works January 23, 2017 Ratings Facilities Long Term Bank Facilities Long Term / Short Term Bank Facilities Amount 12.00 8.00 Ratings 1 CARE BBB; Stable (Triple B; Outlook: Stable) CARE
More informationICICI Prudential Capital Protection Oriented Fund III-XII. July 26, 2017
IIIXII July 26, 2017 Ratings Facilities/Instruments Scheme Type Ratings 1 Remarks III Plan B, E, G and H IV Plan A, C, D, F and G V Plan A and C V Plan B, DF* VI Plan AH VII Plan AH VIII Plan AJ IX Plan
More informationTapadia Polyesters Private Limited
Tapadia Polyesters Private Limited January 06, 2017 Ratings Facilities Amount Rating 1 Long-term Bank Facilities 63.00 CARE BBB-; Stable (Triple B Minus; Outlook: Stable) Short-term Bank Facilities 4.00
More informationCoimbatore Capital Limited January 6, 2017
Ratings Facilities Coimbatore Capital Limited January 6, 2017 Amount Short-term Bank Facilities 37 37 Total Facilities (Rupees Thirty Seven crore only) Details of instruments/facilities in Anneuxre-1 Rating
More informationSATIN CREDITCARE NETWORK LIMITED
SATIN CREDITCARE NETWORK LIMITED Ratings Instrument/Facility Amount (Rs. crore) Ratings 1 Remarks Fully Paid-Up Cumulative Non- Convertible Compulsorily Redeemable Preference Shares (Proposed) Long-term
More informationBandhan Financial Services Pvt. Ltd.
Ratings Bandhan Financial Services Pvt. Ltd. Facilities Amount (Rs. crore) Ratings 1 Remarks Unsecured Subordinated Tier II NCD 160.0 CARE A (Single A) Assigned Total 160.0 Rating Rationale The assigned
More informationDIGAMBER CAPFIN LIMITED
DIGAMBER CAPFIN LIMITED Rating Facilities Amount (Rs. crore) Rating 1 Remarks Long-term Bank Facilities 30 CARE BB (Double B) Assigned Rating Rationale The rating is primarily constrained by the small
More informationICICI PRUDENTIAL MUTUAL FUND (Revised) August 08, 2018
: ICICI PRUDENTIAL MUTUAL FUND (Revised) August 08, 2018 Scheme Name Scheme Tenure 1 Action Series VIII Plan F * Close Ended 683 Days [Triple A mfs (Structured Obligation)] Reaffirmed Details of /Facilities
More informationPanyam Cements and Mineral Industries Limited January 6, 2017
Ratings Facilities Panyam Cements and Mineral Industries Limited January 6, 2017 Amount Long-term Bank Facilities 30.00 Short-term Bank Facilities 9.32 Rating 1 CARE BB-; Stable (Double B Minus; Outlook:
More informationGanapati Builders Limited
Ratings Facilities Ganapati Builders Limited Amount Long term Bank Facilities 8.00 Total December 18, 2017 8.00 (Rupees Eight crore only) Rating 1 CARE B+; Stable (Single B Plus ; Outlook: Stable) Rating
More informationPrecision Camshafts Limited
Ratings Precision Camshafts Limited Facilities Amount (Rs. crore) Ratings 1 Remarks Long-term Bank Facilities 154.15 CARE BBB+ (Triple B Plus) Long-term / Short-term Bank Facilities 47.50 CARE BBB+ / CARE
More informationAU FINANCIERS (INDIA) LIMITED
AU FINANCIERS (INDIA) LIMITED Ratings Instrument Amount (Rs. crore) Ratings 1 Remarks Long-term Bank Facilities 1,100 CARE A [Single A] Non Convertible Debenture 45 CARE A [Single A] Subordinated Debt
More informationJMS Mining Services Pvt Ltd
s JMS Mining Services Pvt Ltd Amount (Rs. crore) Long-term Bank 260 Short-term Bank 15 Long/Short-term Total Bank Bank Details of facilities in Annexure-1 485 (enhanced from 215) 760 (Rupees Seven Hundred
More informationC.M.Builds Private Limited November 03, 2017
Rating Facilities Long-term Bank Facilities C.M.Builds Private Limited November 03, 2017 Amount 10 Total Facilities (Rupees Ten crore only) Details of instruments/facilities in Annexure-1 10 Rating 1 CARE
More informationReliance Infrastructure Limited
Ratings Reliance Infrastructure Limited Facilities Amount (Rs. crore) Ratings 1 Remarks 2600(Enhanced from Rs CARE A+ (on credit watch) [Single A Long Term Bank Facilities 600 crore) CARE A1+(on credit
More informationShyam Sel & Power Limited January 04, 2017
Ratings Shyam Sel & Power Limited January 04, 2017 Facilities Long-term Bank Facilities Short-term Bank Facilities Total Facilities Details of instruments/facilities in Annexure-1 Amount 575.14 (enhanced
More informationMillenium Steel India Private Limited
Millenium Steel India Private Limited Ratings Facilities Amount Long term Bank Facilities 6.88 Short term Bank Facilities 26.00 Total Facilities February 28, 2018 32.88 (Rs. Thirty Two crore and Eighty
More informationCredit Analysis & Research Limited. Complete definitions of the ratings assigned are available at and other CARE publications
Neuland Laboratories Limited Ratings Facilities Amount (Rs. crore) Ratings 1 Remarks Long-term Bank Facilities 205.51 (enhanced from Rs. 175.51 crore ) CARE BBB- (Triple B Minus) Reaffirmed Short-term
More informationMahavir Coal Resources Private Limited
Mahavir Coal Resources Private Limited Ratings Facilities Amount (Rs. crore) Ratings 1 Rating Action Long-term Bank Facilities 25 (enhanced from Rs.11.25 crore) CARE BB; Stable (Double B; Outlook: Stable)
More informationSunil Hitech Engineers Ltd.
Sunil Hitech Engineers Ltd. April 20, 2018 Ratings Facilities Long-term Bank Facilities (TL) Long-term Bank Facilities (CC) Short-term Bank Facilities Long/Short Term Bank Facilities Amount (Rs. crore)
More informationRadico NV Distilleries Maharashtra Limited
Ratings Radico NV Distilleries Maharashtra Limited Facilities Amount (Rs. crore) Ratings 1 Remarks Long term Bank Facilities 47.25 CARE BBB (Triple B) Reaffirmed Long term Bank Facilities* 17.80 CARE BBB+
More informationCredit Analysis & Research Limited. Complete definitions of the ratings assigned are available at and other CARE publications
Govind Milk and Milk Products Private Limited Ratings Facilities / Instruments Amount (Rs. crore) Ratings 1 Remarks Long-term Bank Facilities 45.72 (enhanced from 36.79) CARE BBB- [Triple B Minus] Reaffirmed
More informationGayatri Projects Limited
Gayatri Projects Limited March 12, 2018 Ratings Amount Long-term Bank 2138.03 Long-term/Short-term Bank 4594.03 6732.06 (Rupees Six thousand Seven Total hundred Thirty Two crore and Six lakh only) Details
More informationSai Engicon and Construction Private Limited December 17, 2018
Ratings /Instruments Long term Bank Short-term Bank Sai Engicon and Construction Private Limited December 17, 2018 Amount 5.00 20.00 Total 25.00 (Rupees Twenty Five crore only) Details of facilities in
More informationINDOSTAR CAPITAL FINANCE PVT. LIMITED
Rated Instruments/Facilities INDOSTAR CAPITAL FINANCE PVT. LIMITED Instrument / Facility Amt Rated (Rs crore) Rating 1 Remarks Long Term Debt^ 2,450 (enhanced from Rs.1,950)* CARE AA- (Double A Minus)
More informationJaiprakash Associates Limited
Jaiprakash Associates Limited April 26, 2017 Ratings Facilities/Instruments Amount (Rs. crore) Rating 1 Rating Action Long-term Bank Facilities 21,244.97 (reduced from 21,786.30) Short-term Bank Facilities
More informationMCNALLY BHARAT ENGINEERING COMPANY LIMITED
MCNALLY BHARAT ENGINEERING COMPANY LIMITED Ratings Facilities Amount (Rs. crore) Ratings 1 Remarks Long-term Bank Facilities 3,904.2 (enhanced from 3,779.8) CARE A (Single A) Revised from CARE A+ (Single
More informationL&T Infrastructure Finance Company Limited
Ratings Facilities L&T Infrastructure Finance Company Limited December 07, 2017 Amount (Rs. crore) Rating 1 Rating Action Commercial Paper (for IPO financing) - - Withdrawn Details of instruments/facilities
More informationPENNA CEMENT INDUSTRIES LIMITED
Ratings PENNA CEMENT INDUSTRIES LIMITED Facilities Amount (Rs. crore) Ratings 1 Remarks Proposed Non-Convertible Debenture 150 CARE A+ [Single A Plus] Assigned Total Facilities 150 Rating Rationale The
More informationL&T Infrastructure Finance Company Limited
Ratings L&T Infrastructure Finance Company Limited July 23, 2018 Facilities Amount(Rs. crore) Rating 1 Rating Action Commercial Paper (IPO Financing) - - Withdrawn Details of instruments/facilities in
More informationBinani Cement Limited
Binani Cement Limited July 11, 2018 Ratings Amount Rating 1 Long term Bank 2,304.27 CARE D; ISSUER (Single D; ISSUER Short term Bank 436.00 ) Total facilities 2,740.27 (Rupees Two Thousand Seven Hundred
More informationBannari Amman Sugars Limited January 13, 2017
Ratings Long-term Bank Short-term Bank Long-term /Shortterm Bank Total Bannari Amman Sugars Limited January 13, 2017 Amount 871.50 (reduced from 1,239.50) 7.50 15.40 894.40 (Rupees Eight Hundred Ninety
More informationRSB Transmissions (I) Limited January 20, 2017
Ratings Long-term Bank Amount 286.84 (reduced from 310.19) Short-term Bank 194.29 481.13 Total (Rupees Four Hundred Eighty One crore and Thirteen lakh only) Details of facilities in Annexure-1 RSB Transmissions
More informationHDFC Bank Ltd. May 8, 2017
HDFC Bank Ltd. May 8, 2017 Rating Facilities/Instruments Amount (Rs. crore) Rating 1 Rating Action Certificate of Deposits 40,000 (enhanced from 25,000) CARE A1+ (A One Plus) Reaffirmed Additional Tier
More informationCoimbatore Capital Limited
Coimbatore Capital Limited December 27, 2017 Ratings Facilities Amount Short-term Bank Facilities 37 Total Facilities Details of instruments/facilities in Annexure-1 37 (Rupees Thirty Seven crore only)
More informationHindustan Construction Company Limited
Hindustan Construction Company Limited April 19, 2017 Ratings Facilities/ Instrument Amount 1067.53 (2672.91) 1065.38 (1500.00) Long-term Bank Facilities Term Loan Long-term Bank Facilities Cash Credit
More informationInternational Print-O-Pac Limited
International Print-O-Pac Limited June 06,2018 Ratings Facilities Amount Long-term Bank Facilities 12.50 Short-term Bank Facilities 12.50 25.00 Total Facilities (Rupees Twenty five crore only) Details
More informationICICI Securities Primary Dealership Ltd.
Ratings Instrument Amount (Rs. crore) Tier II Bonds 50 (Rupees Fifty Crore Only) Details of instruments/facilities in Annexure-1 ICICI Securities Primary Dealership Ltd. May 09, 2018 Rating 1 CARE (Triple
More informationHDFCs Assignment Of Receivables Of SEP 11. [Originator: HDFC Limited]
HDFCs Assignment Of Receivables Of SEP 11 [Originator: HDFC Limited] March 29, 2018 Ratings Instrument Assignee Payouts Amount 212.69 (Rs.Two hundred and twelve crore and sixty nine lakhs only) Details
More informationGlobal Offshore Services Limited
Ratings Facilities/Instruments Term Loan Fund Based Limits LT/ST Bank Facilities Non- Fund based Limits Long term Bank Facilities Term Loan UBI # FB Limits UBI LT/ST Bank Facilities NFB Limits- UBI Global
More informationL&T Finance Ltd. (erstwhile Family Credit Ltd) July 7, (Rs. crore) 16,500
Ratings Instrument L&T Finance Ltd. (erstwhile Family Credit Ltd) July 7, 2017 Amount (Rs. crore) 16,500 Commercial Paper issue (enhanced from Rs 13,500) Details of instruments/facilities in Annexure-1
More informationDalmia Bharat Limited
Dalmia Bharat Limited March 16, 2017 Ratings Amount Rating1 Rating Action Long-term/Short-term Bank 30 CARE AA-; Stable/ (Double A Minus/A One Plus; Outlook: Stable) Long-term Bank - - Withdrawn* Total
More informationEmaar MGF Land Limited
Emaar MGF Land Limited January 23, 2017 Ratings S.No Facilities Amount 1 Long-term Bank Facilities 205 (reduced from 320) Total Facilities 205 (Rupees Two Hundred Five crore only) 2 Non-convertible Debenture
More informationAssotech Realty Private Limited
Assotech Realty Private Limited March 21, 2017 Ratings Facilities Amount Rating 1 Long-term Bank Facilities 35 CARE BB; ISSUER NOT COOPERATING (Double B; ISSUER NOT COOPERATING) Total 35 (Rupees Thirty
More informationAsahi Songwon Colors Limited
Asahi Songwon Colors Limited January 11, 2017 Ratings Amount Long-term Bank 5.25 Short-term Bank 33.00 Long-term/ Short-term Bank Total 41.00 79.25 (Rupees Seventy Nine crore and Twenty Five lakh only)
More informationSHREE GANESH JEWELLERY HOUSE (I) LIMITED
Ratings SHREE GANESH JEWELLERY HOUSE (I) LIMITED Facilities/Instruments Amount (Rs. crore) Ratings 1 Remarks Long-term Bank Facilities 150 CARE BBB+ Short-term Bank Facilities 3695 CARE A3+ (A Three Plus)
More informationKripa Telecom. March 23, Rating 1. CARE A4; ISSUER NOT COOPERATING* (A four)
Ratings Facilities Amount Long term Bank Facilities 3 Short-term Bank Facilities 6 Total 9 (Rupees Nine crore only) Details of instruments/facilities in Annexure-1 Detailed Rationale & Key Rating Drivers
More informationTATA MOTORS LIMITED. 1 Complete definition of the ratings assigned are available at and other CARE publications
TATA MOTORS LIMITED Ratings Instruments Amount (Rs. crore) Ratings 1 Remarks Non-Convertible Debentures 6,600 CARE AA+ [Double A plus] Revised from CARE AA [Double A] Total 6,600 Rating Rationale CARE
More informationKhagaria Purnea Highway Project Limited
Khagaria Purnea Highway Project Limited March 31, 2018 Ratings Facilities Long-term Bank Facilities (Senior debt) Long-term Bank Facilities (Sub-ordinate debt) Amount 462.35 (reduced from Rs.516.95 crore)
More informationNLC Tamil Nadu Power Limited
Ratings NLC Tamil Nadu Power Limited Facilities Amount (Rs. crore) Ratings 1 Remarks Long term Bank Facilities* 3,437.00 CARE AAA (SO)(In-Principle) [Triple A (Structured Obligation)] (In-Principle) Long
More informationMadhav Alloys Private Limited
Madhav Alloys Private Limited Ratings Facilities Amount (Rs. crore) Long-term Bank Facilities 81.84 Short-term Bank Facilities 70 Ratings1 CARE A- [Single A Minus] CARE A2+ [A Two Plus] Remarks Revised
More informationLaxmi Diamond Private Limited
Ratings Facilities Long-term Bank Facilities Short-term Bank Facilities Laxmi Diamond Private Limited March 10, 2017 Amount Rating 1 890.85 CARE BBB+/CARE A2; ISSUER NOT (Triple B Plus/A Two; ISSUER NOT
More informationL&T Finance Ltd (erstwhile Family Credit Ltd) July 23, 2018
Ratings Facilities L&T Finance Ltd (erstwhile Family Credit Ltd) July 23, 2018 Amount (Rs. crore) Commercial Paper Issue (IPO Financing) Rating 1 Rating Action Withdrawn Details of instruments/facilities
More informationPix Transmissions Ltd January 04, 2019
Ratings Long term Bank Short term Bank Long-term/Short-term Bank Long-term/Short-term Bank Total 134.58 (Rs. One hundred and Thirty Four crore and Fifty Eight lakhs only) Details of instruments/facilities
More informationK.P. CHACKO & SONS JUNE 30, 2017
Ratings K.P. CHACKO & SONS JUNE 30, 2017 Facilities Amount Rating 1 Long-term Bank Facilities 17 CARE B+; Stable (Single B Plus ; Outlook: Stable) Rating Action Assigned Total 17 (Rupees Seventeen crore
More informationCARE REVISES THE RATING ASSIGNED TO BANK FACILITIES AND CP/STD OF BOMBAY RAYON FASHIONS LTD. Amount
July 31, 2012 Press Release CARE REVISES THE RATING ASSIGNED TO BANK FACILITIES AND CP/STD OF BOMBAY RAYON FASHIONS LTD. Facilities/Instruments Long-term Bank Facilities Amount Ratings 1 (Rs. crore) 3,167.20
More informationSpykar Lifestyles Private Limited
Spykar Lifestyles Private Limited Ratings Facilities/Instruments Long term Bank Facilities-FB-Cash Short term Bank Facilities-NFB- LC/BG February 20, 2017 Amount 60.10 (enhanced from 46.10) 10.00 Total
More informationRAYMOND LIMITED. (Rs. crore) (Rs. crore)
RAYMOND LIMITED Amount (Rs. crore) 1 Remarks Long-term Bank 1,585 CARE AA- Short-term Bank 475 (enhanced from Rs.370.95) Total 2,060 CARE A1+ [A One Plus] Non Convertible Debentures 175 CARE AA- Commercial
More informationRaipur Power and Steel Limited August 21, 2018
Ratings Long term Bank Short term Bank Total 354.65 (Rupees Three hundred fifty four crore and sixty five lakhs only) Details of instruments/facilities in Annexure-1 Raipur Power and Steel Limited August
More informationKalimati Motors Private Limited
Ratings Facilities Kalimati Motors Private Limited Amount Long-term Bank Facilities 13.00 Total Details of instruments/facilities in Annexure-1 13.00 (Rupees Thirteen crore only) March 23, 2018 Rating
More informationAMTEK INDIA LIMITED. CARE AA- (Double A Minus) Reaffirmed and credit watch removed. CARE A1+ (A One Plus) Reaffirmed and credit watch removed
AMTEK INDIA LIMITED Ratings Facilities/Instruments Amount (Rs. crore) Ratings 1 Remarks Long-term Bank Facilities 4038.12 (enhanced from 2392.62) Short-term Bank Facilities 88 (enhanced from 38) Total
More informationMadhya Bharat Power Corporation Limited
Madhya Bharat Power Corporation Limited Ratings Long Term Fund Based Bank -Term Loan Short Term Non-Fund Based Bank Long/Short Term Bank Total Amount 771.88 10.00 80.00 January 02, 2018 861.88 (Rs. Eight
More informationPanchshil Infrastructure Holdings Private Limited
Panchshil Infrastructure Holdings Private Limited Ratings Facilities Amount Longterm Bank Facilities 113..15 Shortterm Bank Facilities 2.00 Total Facilities Details of facilities in Annexure1 115.15 (Rs.
More informationGreenko Energies Private Limited
Greenko Energies Private Limited January 11, 2017 Ratings Amount Long-term Bank 841.00 (enhanced from 109.38) Long-term/Short-term Bank Total 941.00 (Rupees Nine hundred and forty one crore only) Details
More informationAircel Limited. November 16, Amount (Rs. crore) 17,479 (Rupees Seventeen Thousand Four Hundred and Seventy Nine Crore Only)
Aircel Limited November 16, 2017 Ratings Facilities Amount Long term Bank Facilities 17,479 Total Details of instruments/facilities in Annexure-1 17,479 (Rupees Seventeen Thousand Four Hundred and Seventy
More informationJMC Projects (India) Limited
JMC Projects (India) Limited January 20, 2017 Ratings Long Term Bank Long Term / Short Term Bank Total Commercial Paper Issue (carved out of working capital limits) Amount 687.32 (reduced from Rs.726.88
More informationBhilangana Hydro Power Limited
Ratings Facilities/Instruments Non- (NCD) Non--I (NCD-I) Non--II (NCD-II) Bhilangana Hydro Power Limited March 26, 2018 153.80 Total (Rupees One Hundred Fifty Three crore and Eighty lakh only) Details
More informationRock Regency Hotels Private Limited June 25, 2018
Rating Facilities Rock Regency Hotels Private Limited June 25, 2018 Amount Long term Bank Facilities 4.11 Total 4.11 (Rupees Four crore and eleven lakh only) Details of instruments/facilities in Annexure-1
More informationJindal Power Limited
Ratings Facilities/Instruments Amount Long-term Bank Facilities 3,204.73 (reduced from 3,270.81) Jindal Power Limited January 04, 2018 3,204.73 (Rupees Three Thousand Two Total Hundred Four crore and Seventy
More informationC&S Electric Limited April 6, 2018
C&S Electric Limited April 6, 2018 Ratings Facilities Long-term Bank Facilities Term Loan Long-term Bank Facilities Cash Credit Short-Term Bank Facilities Amount 87.01 (enhanced from 18.60) 235 (enhanced
More informationCESC LIMITED. Ratings
Ratings CESC LIMITED Facilities/Instruments Amount Ratings 1 Remarks Long-term Bank Facilities 905.4 (reduced from 1,015.0) CARE AA (Double A) Reaffirmed Short-term Bank Facilities 250.0 CARE A1+ (A One
More informationBrookefield Real Estates and Projects Private Limited November 05, 2018
Ratings Long term Bank Total 860.0 (Rs. Eight Hundred Sixty Crores Only) Details of instruments/facilities in Annexure-1 Detailed Rationale & Key Rating Drivers Brookefield Real Estates and Projects Private
More informationIndia Infrastructure Finance Company Ltd October 06, 2017
India Infrastructure Finance Company Ltd October 06, 2017 Ratings Facilities Unsecured Taxable * Amount (Rs. Crore) 3,000 (Rupees Three Thousand crore only) Long-term 67.12 Infrastructure (Rupees Sixty
More informationWaaree Energies Limited
Waaree Energies Limited Ratings Amount Ratings1 Remarks Longterm Bank 124.11 (reduced from 147.50) CARE BBB; Stable (Triple B Minus; Outlook: Stable) Revised from CARE BBB (Triple B) Shortterm Bank 114.50
More informationMilestone Gears Private Limited October 01, 2018
Ratings Facilities Milestone Gears Private Limited October 01, 2018 Amount Ratings 1 Long-term Bank Facilities 110.92 CARE BBB (Triple B; Outlook: Stable) Short-term Bank Facilities 30.00 CARE A3+ (A Three
More informationMahalaxmi Roller Flour Mills
Rating Facilities Long-term bank facilities Total 5.84 (Rs. Five Crore and Eighty Four Lakh only) Details of instruments/facilities in Annexure-1 Mahalaxmi Roller Flour Mills July 09, 2018 Amount Rating
More informationGEA BGR Energy System India Limited
GEA BGR Energy System India Limited January 24, 2017 Ratings Long-term Bank Long-term/Short-term Bank Amount 19.50 (enhanced from 10) 65.00 (reduced from 90) 84.50 Total (Rupees Eighty Four Crore and Fifty
More informationP R R Travels July 18, 2018
Rating Facilities Amount (Rs. Crore) Long-term Bank Facilities 18.00 P R R Travels July 18, 2018 18.00 Total Facilities (Rupees Eighteen crore only) Details of instruments/facilities in Annexure-1 Rating
More informationColourtex Industries Private Limited
Colourtex Industries Private Limited January 18, 2017 Ratings Facilities Long-term Bank facilities Long-term/Short-term Bank facilities Amount 50.25 (reduced from 71.14) 370.00 420.25 Total Facilities
More informationCapital First Limited
Ratings Amount Facilities (Rs. crore) 4,000.00 (Enhanced from Commercial Paper (CP) Rs.3,000 crore) (Rupees Four Thousand crore only) Details of instruments/facilities in Annexure-1 Capital First Limited
More informationFuture Enterprises Limited
Future Enterprises Limited Ratings Facilities Long-term Bank Facilities (Term Loan) Long-term Bank Facilities (Term Loan) Long Term Bank Facilities (Fund Based) Short-term Bank Facilities (Non Fund based)
More informationCentral Bank of India
Ratings Instrument Amount (Rs. crore) Lower Tier II Bonds 270 Upper Tier II Bonds 2,285 Total 2,555 (Rs. Two thousand five hundred and fifty five crore only) Details of instruments/facilities in Annexure-1
More informationG.D. Goenka Private Limited
Ratings Long term Bank Short term Bank Total 108.20 (Rs. One hundred and eight crore and twenty lakh only) Details of instruments/facilities in Annexure-1 G.D. Goenka Private Limited January 11, 2018 Amount
More informationSharekhan Financial Services Private Limited
Ratings Sharekhan Financial Services Private Limited December 18, 2017 Instruments Commercial Paper Issue (IPO Financing) Details of instruments/facilities in Annexure-1 Amount (Rs. crore) 2000 (Rupees
More informationEdelweiss Finance & Investments Ltd
Ratings Edelweiss Finance & Investments Ltd Facilities mount (Rs. crore) Ratings 1 Remarks Principal Protected Market-linked Debenture 300 CRE PP-MLD- (PP-MLD Double ) ssigned CRE s rating of Market Linked
More informationPavathal Spinning Mills Private Limited
Ratings Pavathal Spinning Mills Private Limited December 27, 2017 Amount (Rs. crore) Ratings 1 Remarks Long-term Bank 10.42 (reduce from 11.11) CARE BB+; Stable (Double B Plus; Outlook:Stable) Reaffirmed
More informationNational Collateral Management Services Limited May 5, (Rs. crore)
Ratings Facilities National Collateral Management Services Limited May 5, 2017 Amount Long term Bank Facilities 412.57 Rating 1 CARE A+; Stable (Single A Plus; Outlook: Stable) Rating Action Reaffirmed
More informationHousing and Urban Development Corporation Limited May 24, 2018
Housing and Urban Development Corporation Limited May 24, 2018 Ratings Instruments Long-term/ Short-term Bank Facilities Fixed Deposit Programme Commercial Paper Long-term Bonds (18-19) (including sub-limit
More information