Annexure II Rating Movement Between October 2015 to March 2016 Long Term Sr.No

Annexure II Rating Movement between October 2015 to March 2016 Long Term Sr.No. Name of the Issuer Rating prior to revision Rating post revision 1 A. K. Shivhare Infrastructure Private Limited CARE BB+ CARE BBB- 2 AAA Roller Flour Mills Private Limited CARE B+ CARE BB- 3 Aadheesh Texfab Private Limited CARE B CARE B+ 4 ABC India Limited CARE BBB CARE BBB- 5 Accurate Auto Comps. CARE BB- CARE BB 6 Ace Tyres Limited CARE A- CARE A 7 Act Plast Paints Private Limited CARE BB CARE BB+ 8 Adani Agri logistics (Dewas) Limited CARE BBB CARE BBB+ 9 Adani Agri Logistics (MP) Limited CARE BBB CARE BBB+ 10 Adani Agri Logistics (Ujjain) Limited CARE BBB CARE BBB+ 11 Adani Agri Logistics Limited CARE BBB CARE BBB+ 12 Adani International Container Terminal Private Limited CARE AA (SO) CARE AA+ (SO) 13 Adani International Container Terminal Private Limited CARE A CARE A+ 14 Adani Welspun Exploration Limited CARE A- (SO) @ CARE A (SO) 15 Admiron Life Sciences Private Limited CARE BB- CARE D 16 Admiron Life Sciences Private Limited CARE D CARE B+ 17 Advanta Limited CARE BBB+ CARE A- 18 Advent Envirocare Technology Private Limited CARE BBB CARE BBB+ 19 Aerocon Buildwell Private Limited CARE B CARE D 20 Agarwal Rubber Limited CARE BB- CARE BB 21 Agile Electric Sub Assembly Private Limited CARE A- CARE A 22 Agribiotech Industries Limited CARE BB+ CARE BBB- 23 Agro Pure Capital Foods Private Limited CARE BB CARE BB+ 24 AI Champdany Industries Limited CARE BBB CARE BBB- 25 Ainaj Industries CARE B+ CARE D 26 Ajeet & Company CARE BB CARE BB- 27 Ajita Sil Chem Private Limited CARE BB- CARE BB 28 AKA Logistics Private Limited CARE BBB+ CARE A- 29 AksharChem (India) Limited CARE A- CARE A 30 Akshata Mercantile Private Limited CARE BB+ CARE BB 31 Alliance Insurance Brokers Private Limited CARE BB+ CARE BBB- 32 AL-Sami Agro Products Private Limited CARE B+ CARE BB- 33 Amar Plastics CARE BB CARE BB- 34 Ambey Mining Private Limited CARE A- CARE A 35 Ambica Alloys CARE BBB- CARE BB+ 36 Ambuja Intermediates Limited CARE BBB+ CARE A- 37 AMCL Machinery Limited CARE BBB- (SO) CARE BB (SO) 38 Ami Lifesciences Private Limited CARE BB+ CARE BBB- 39 Amrit Fresh Private Limited CARE BB CARE D 40 Amritlal Naresh Kumar CARE B+ CARE BB- 41 Anand Ispat Udyog Limited CARE BB CARE BB- 42 Anand Metallics & Power Private Limited CARE BB CARE BB- 43 Anantshree Polymers Private Limited CARE B+ CARE BB- 44 Anaya Gems Inc. CARE BBB- CARE BB @ 45 Andhra Cements Limited CARE BBB- CARE D 46 Andhra Expressway Limited CARE AA CARE A 47 Anik Industries Limited CARE BBB CARE BBB- 48 Anil Limited CARE BBB+ CARE BBB 49 Anjaney Ferro Alloys Limited CARE A- CARE A 50 Anjani Portland Cement Limited CARE AA- (SO) CARE AA (SO) 51 Antique Textile Private Limited CARE B+ CARE BB- 52 Antrix Diamond Exports Private Limited CARE BBB- CARE BB 53 Apical Exim Private Limited CARE BB- CARE BB 54 Apollo Zipper India Limited CARE BBB- (SO) CARE D 55 Apollo Zipper India Limited CARE D CARE B (SO) 56 Arcadia Shipping Limited CARE BBB- CARE BB 57 Ardent Steel Limited CARE BBB+ CARE BBB- 58 ARG Royal Ensign Developers Private Limited CARE B CARE B+ 59 Arihant Fibres CARE B+ CARE BB- 60 Arihant Tiles And Marbles Private Limited CARE BB CARE BB+ 61 Ario Infrastructure Private Limited CARE BB+ CARE BB

1 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 62 Arka Leisure & Entertainments Private Limited CARE B+ CARE D 63 Arkay Energy (Rameswarm) Limited CARE BBB CARE D 64 Arkay Energy (Rameswarm) Limited CARE D CARE BB- 65 Artech Realtors Private Limited CARE BB CARE BB+ 66 Arvindbhai Bechardas Jewellers Private Limited CARE BBB- CARE BBB 67 Arwade Infrastructure Limited CARE BB- CARE BB+ 68 AS Nutra Tech Private Limited CARE BB CARE B 69 Ashapura Intimates Fashion Limited CARE BBB- CARE BBB+ 70 Ashiana Housing Limited CARE A- (Is) CARE A (Is) 71 Ashok Motors CARE B+ CARE BB- 72 Ashtavinayak Auto Private Limited CARE BB- CARE D 73 Associated Alcohols & Breweries Limited CARE BBB- CARE BBB+ 74 Asta Ceramic Private Limited CARE BB- CARE BB 75 Atra Pharmaceuticals Limited CARE B+ CARE D 76 Atria Convergence Technologies Private Limited CARE A- CARE A 77 Au Financiers India Limited CARE A CARE A+ 78 Avaya Industries Limited CARE BB CARE D 79 Avinash Chalana & Company CARE BB CARE BB+ 80 AVK Automall Private Limited CARE BB- CARE D 81 AVK Automart Private Limited CARE BB- CARE D 82 Avni Yarns Private Limited CARE B+ CARE BB- 83 Avtec Limited CARE A- CARE BBB+ 84 Baba Ispat Private Limited CARE BB CARE BB- 85 Badhri Spinning Mills Private Limited CARE B- CARE D 86 Bagaria Education Trust CARE BB CARE BB+ 87 Bagzone Lifestyles Private Limited CARE BB CARE BB+ 88 Bajaj Basmati Private Limited CARE BB- CARE D 89 Bajwa Gram Udyog Samiti CARE B CARE D 90 Bala Industries and Entertainment Private Limited CARE A- (SO) CARE BBB (SO) 91 Balarka Fabricon Private Limited CARE BB- CARE BB 92 Balasore Alloys Limited CARE BB+ CARE BB 93 Banik Rubber Industries (India) Private Limited CARE A- CARE A 94 Bank of Baroda CARE AA+ CARE AA 95 Bank of Baroda CARE AAA CARE AA+ 96 Bank of India CARE AAA CARE AA+ 97 Bank of India CARE AA+ CARE AA- 98 Bank of Maharashtra CARE AA- CARE A+ 99 Bank of Maharashtra CARE AA+ CARE AA 100 Bank of Maharashtra CARE AA CARE AA- 101 Bannari Amman Flour Mill Limited CARE BBB CARE BBB- 102 Bannari Amman Sugars Limited CARE AA- CARE A+ 103 Banswara Syntex Limited CARE BBB+ CARE BBB 104 Banswara Syntex Limited CARE BBB+ (FD) CARE BBB (FD) 105 Barnala Builders and Property Consultants CARE BB CARE BB- 106 Baroda Equipments and Vessels Private Limited CARE BB- CARE BB 107 BEJ Ceramic CARE BB- CARE BB 108 Bengal Energy Limited CARE BBB- CARE BB+ 109 Best IT World (India) Private Limited CARE BBB CARE BBB- 110 Best Koki Automotive Private Limited CARE BBB- CARE BBB 111 Bhandary Foundation CARE BB CARE BB+ 112 Bharat Hotels Limited CARE BBB- CARE D 113 Bharat Hotels Limited CARE D CARE B 114 Bharat Power Inc CARE BB CARE BB+ 115 Bharti Construction Company CARE BB CARE BB+ 116 Bhavani Cotspin CARE BB CARE BB+ 117 Bhavani Erectors Private Limited CARE B+ CARE BB- 118 Bhimani Chemicals Private Limited CARE BB CARE BB+ 119 Bhushan Energy Limited CARE BB CARE B 120 Bhushan Steel Limited CARE BB @ CARE D 121 Biological E. Limited CARE A+ CARE AA 122 Biostadt India Limited CARE A- CARE A 123 Birbhum Chemicals and Fertilisers Limited CARE BBB+ CARE A- 124 Black Diamond Explosives Private Limited CARE BBB- CARE BBB 125 BLP Wind Project (Amberi) Private Limited CARE BBB CARE BBB+

2 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 126 Blueart Granito Private Limited CARE BB CARE BB+ 127 Bodal Chemicals Limited CARE BBB- CARE BBB+ 128 Borah Automobiles Private Limited CARE B CARE B+ 129 BSR Cancer Hospital Private Limited CARE BBB- (SO) CARE D 130 BSR Diagnostic Limited CARE BBB- (SO) CARE D 131 BSR Superspeciality Hospitals Limited CARE BBB- CARE D 132 C.I. Automotors Private Limited CARE B CARE B+ 133 C.I. Finlease Limited CARE B+ CARE BB- 134 Cadmach Machinery Company Private Limited CARE BBB+ CARE A- 135 Camson Agri - Ventures Private Limited CARE BBB (SO) @ CARE BB (SO) 136 Capson Tiles Private Limited CARE B+ CARE BB- 137 Cera Sanitaryware Limited CARE AA- CARE AA 138 CFC Carriers Private Limited CARE BBB- CARE BB 139 Chacha Life Style Private Limited CARE B+ CARE BB- 140 Champalal Motilal Steel Company Private Limited CARE BB+ CARE BB 141 Chaudhary Ingots Private Limited CARE BB- CARE D 142 Chemical Process Equipments Private Limited CARE A- CARE BBB+ 143 Cherryhill Interiors Limited CARE A CARE A+ 144 Chetak Enterprises Limited CARE A- CARE A+ 145 Chetak Jainco Tollways Limited CARE A- (SO) CARE A+ (SO) 146 Chetak Mitra Tollways Limited CARE A- (SO) CARE A+ (SO) 147 Chetak Tollways Limited CARE BBB- CARE BBB 148 Chettinad Cement Corporation Limited CARE AA- CARE AA 149 Chhabra Autolink Private Limited CARE B CARE B+ 150 Chhattisgarh Steel & Power Limited CARE B+ CARE D 151 CHL Limited CARE BB CARE D 152 Classic Wears Private Limited CARE B+ CARE BB- 153 CNC India Tools Services Private Limited CARE BB CARE BB+ 154 Coffee Day Global Limited CARE A CARE A+ 155 Colourtex Industries Private Limited CARE A CARE A+ 156 Comet Granito Private Limited CARE B CARE BB- 157 Consulting Engineers Group Limited CARE BBB+ CARE A- 158 Convention Hotels India Private Limited CARE B+ CARE D 159 Coral Ceramic Private Limited CARE BB CARE BBB- 160 Coral Gold Tiles Private Limited CARE BB+ CARE BBB- 161 Coral Plus Ceramic Private Limited CARE BB CARE BBB- 162 Cords Cable Industries Limited CARE BBB CARE BBB- 163 Coromandel Sugars Limited CARE BBB- (SO) CARE BBB+ (SO) 164 Corporation Bank CARE AA+ CARE AA 165 Corporation Bank CARE AA CARE AA- 166 Corum Hospitality CARE BB CARE D 167 Cosmic Ferro Alloys Limited CARE BBB- CARE BB+ 168 Cream Jewellery CARE BB- CARE BB 169 Creamy Foods Limited CARE BBB CARE BBB+ 170 Damasha Stampings CARE BB- CARE BB 171 Damodar Valley Corporation CARE A+ CARE A 172 Dashmesh Rice Mills_(Dasuya) CARE B CARE D 173 Daulat Ram Engineering Services Private Limited CARE BB- CARE BB 174 Deccan Auto Limited CARE BB CARE BB+ 175 Deccan Enterprises Limited CARE BBB CARE BBB+ 176 Dee Development Engineers Limited CARE BBB CARE BBB+ 177 Deep Plast Industries CARE BB- CARE BB 178 Delhi Duty Free Services Private Limited CARE A- CARE A+ 179 Dena Bank CARE AA- CARE A+ 180 Dena Bank CARE AA+ CARE AA 181 Dena Bank CARE AA CARE AA- 182 Dena Bank CARE AA- CARE A 183 Dena Bank CARE A+ CARE BBB+ 184 Dev Industries CARE B+ CARE BB- 185 Devi Construction Company Private Limited CARE BBB+ CARE BBB 186 Dhara Motor Finance Limited CARE BB CARE BB+ 187 Dharampal Premchand Limited CARE BBB- CARE BBB 188 Dharti Dredging & Infrastructure Limited CARE BB+ CARE BBB- 189 Dhroov Resorts CARE B CARE D

3 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 190 Dhruv Industries Limited CARE BB CARE BB+ 191 Dhunseri Petrochem Limited CARE A CARE A- 192 Diamond Beverages Private Limited CARE BB+ CARE BBB- 193 Diamond Hometex India Private Limited CARE B CARE BB- 194 Dighi Port Limited CARE B+ CARE D 195 Dimexon Diamonds Limited CARE BBB- CARE BBB 196 Dina Iron & Steel Limited CARE BB- CARE BB 197 Dinkar Seeds Private Limited CARE BB- CARE BB 198 Divya Agro Roller Flour Mills Private limited CARE B+ CARE D 199 Divyaratna Agrotech Private Limited CARE BB- CARE D 200 Dr. Agarwals Eye Hospital Limited CARE BBB CARE BBB+ 201 Drake and Scull Water and Energy Private Limited CARE A- (SO) CARE BBB+ (SO) 202 Drake and Scull Water and Energy Private Limited Provisional CARE A- (SO) Provisional CARE BBB+ (SO) 203 Drolia Electrosteels Private Limited CARE BBB- CARE BB+ 204 Durgapur Medical Centre Private Limited CARE BBB CARE BBB+ 205 E. I. T. A. India Limited CARE BB+ CARE BBB- 206 Earth Stahl and Alloys Private Limited CARE BB- CARE D 207 Eastern Hatcheries Private Limited CARE BBB+ (SO) CARE BBB- (SO) 208 ECA Infrastructure India Private Limited CARE A- (SO) CARE A+ (SO) 209 Eco Tech Papers CARE BB- (Is) CARE BB+ (Is) 210 Elec Steel Processing Industries CARE BB- CARE BB 211 Electrical Controls and Systems CARE BBB- CARE BBB 212 Electrosteel Castings Limited CARE AA- CARE A 213 Elite Infra Projects Private Limited CARE BB CARE D 214 Elora Cotton Industries CARE B+ CARE D 215 Emaar MGF Land Limited CARE BB CARE B 216 Emaar MGF Land Limited CARE BB CARE D 217 Emars Mining & Construction Private Limited CARE BB+ CARE BB 218 Enaltec Labs Private Limited CARE BBB CARE BBB+ 219 Energo Engineering Projects Limited CARE BBB CARE BB 220 Energy Development Company Limited CARE BBB CARE BBB- 221 Enkay Texfab Private Limited CARE BB CARE BB+ 222 Ennore Tank Terminals Private Limited CARE A CARE AA- 223 Entire Ceramics Limited CARE BB- CARE BB 224 Eros International Media Limited CARE AA- CARE A @ 225 ESAF Microfinance & Investments Private Limited CARE BBB CARE BBB+ 226 ESS DEE Aluminium Limited CARE BBB- CARE D 227 Etco Denim Private Limited CARE D CARE C 228 Etco Industries Private Limited CARE D CARE C 229 Eveready Spinning Mills Private Limited CARE BBB CARE BBB+ 230 Everest Kanto Cylinder Limited CARE D CARE C 231 Everest Kanto Cylinder Limited CARE C CARE D 232 Exel Rubber Limited CARE A CARE A+ 233 Express Infrastructure Private Limited CARE A+ CARE AA- 234 Ezone Strips Private Limited CARE BB CARE D 235 Fabworth Promoters Private Limited CARE BB+ CARE D 236 Fabworth Promoters Private Limited CARE D CARE BB- 237 Faery Estates Private Limited CARE AA- (SO) @ CARE A- 238 Faery Estates Private Limited Provisional CARE AA- @ CARE A- 239 Faery Estates Private Limited Provisional CARE AA- (SO) @ Provisional CARE A- 240 FE India Limited CARE BBB- CARE D 241 Firestar Diamond BVBA CARE BBB+ (SO) CARE BBB- (SO) 242 Firestar Diamond BVBA Provisional CARE BBB+ (SO) Provisional CARE BBB- (SO) 243 Firestar Diamond International Private Limited CARE BBB+ (SO) CARE BBB- (SO) 244 Firestar Diamond International Private Limited Provisional CARE BBB+ (SO) Provisional CARE BBB- (SO) 245 Firestar Diamond Limited CARE BBB+ (SO) CARE BBB- (SO) 246 Firestar Diamond Limited Provisional CARE BBB+ (SO) Provisional CARE BBB- (SO) 247 Firestar International Private Limited CARE BBB+ (SO) CARE BBB- (SO) 248 Firestar International Private Limited Provisional CARE BBB+ (SO) Provisional CARE BBB- (SO) 249 Flexible Abrasives Private Limited CARE B+ CARE BB- 250 Flora Marmo Industries Private Limited CARE B+ CARE BB 251 Flora O Foods CARE BB CARE BB- 252 Fortune Cars Private Limited CARE B CARE B+ 253 Fountain Imports Private Limited CARE BB- CARE D

4 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 254 Friends Salt Works & Allied Industries CARE BBB- CARE BBB+ 255 Future Supply Chain Solutions Limited CARE BBB+ CARE A- 256 Gajra Gears Private Limited CARE B+ CARE C 257 Gajra Gears Private Limited CARE B+ CARE D 258 Gajraj Hotel Private Limited CARE C CARE D 259 Galaxy Construction and Contractor Private Limited CARE BB CARE D 260 Gandevikar Jewellers Private Limited CARE BBB- CARE BBB 261 Gangavaram Port Limited CARE A+ CARE AA- 262 Ganpati Infrapower Private Limited CARE BB CARE BB+ 263 Gare Brothers CARE B CARE B- 264 Garg Aluminio Private Limited CARE BB- CARE BB 265 Garg Casteels Private Limited CARE B+ CARE B 266 Gati Infrastructure Bhasmey Power Private Limited CARE D CARE B 267 Gati Infrastructure Private Limited CARE BB- CARE D 268 Gati Kausar India Limited Provisional CARE BBB+ (SO) CARE A- (SO) 269 Gayatri Bioorganics Limited CARE B CARE D 270 Gayatri Jhansi Roadways Limited CARE BBB- CARE BBB 271 Gayatri Lalitpur Roadways Limited CARE BBB- CARE BBB 272 Gayatri Projects Limited CARE B+ CARE D 273 Gayatri Projects Limited CARE D CARE B 274 GCL Private Limited CARE B CARE D 275 Gem Aromatics Private Limited CARE BB- CARE BB 276 Gemco Energy Limited CARE B+ CARE BB 277 Gemini Consolidated Projects Private Limited CARE B+ (SO) CARE D 278 Gemini Equipment And Rentals Private Limited CARE BB+ CARE C 279 Gentleman Suitings Private Limited CARE B+ CARE BB- 280 Genus Innovation Limited CARE BBB CARE BBB- 281 Ghatge Patil Industries Limited CARE BBB CARE BBB- 282 Ghatge Patil Industries Limited CARE BBB (FD) CARE BBB- (FD) 283 Gillanders Arbuthnot and Company Limited CARE A- CARE BBB+ 284 Gillanders Arbuthnot and Company Limited CARE A (FD) CARE BBB+ (FD) 285 Ginni Refractories Private Limited CARE BB- CARE BB 286 GJS Infratech Private Limited CARE BB+ CARE BBB- 287 GKB Vision Limited CARE BB- CARE BB 288 Glazetech Industries Private Limited CARE B+ CARE B 289 Global Offshore Services Limited CARE AA- CARE A 290 Globe Cotyarn Private Limited CARE BB CARE BB+ 291 Glochem Industries Limited CARE BB+ CARE BBB- 292 GMR Airports Limited CARE A- CARE A 293 GMR Chennai Outer Ring Road Private Limited CARE BBB (SO) CARE BBB- (SO) 294 GMR Gujarat Solar Power Private Limited CARE BBB CARE BBB- 295 Godavari Drugs Limited CARE BB CARE BB+ 296 Goel Scientific Glass Works Limited CARE BB CARE BB- 297 Gokaldas Intimatewear Private Limited CARE BBB CARE BBB+ 298 Gokul Mamra Private Limited CARE B+ CARE BB- 299 Goldi Green Technologies Private Limited CARE BB CARE BB+ 300 Gopal Glass Works Limited CARE BBB+ CARE A- 301 Goyal Cotton Fiber CARE B+ CARE BB- 302 GPA Foods Private Limited CARE BB CARE BB+ 303 GPT Infraprojects Limited CARE BB+ CARE BBB- 304 Graintech Foods India Private Limited CARE D CARE B 305 Grauer & Weil (India) Limited CARE A CARE A+ 306 Great Eastern Energy Corporation Limited CARE A- CARE BBB+ 307 Great Wall Corporate Services Private Limited CARE BB CARE BB+ 308 Greenesol Power Systems Private Limited CARE BBB CARE BBB- 309 Gripwell Tools Industries CARE BB- CARE BB+ 310 GSPC Pipavav Power Company Limited CARE BB CARE BBB- 311 GTN Enterprises Limited CARE BB CARE D 312 GTN Textiles Limited CARE BB- CARE D 313 Gujarat Hy-Spin Private Limited CARE B+ CARE BB- 314 Gulmohar Traders CARE BB CARE BB+ 315 Gurudeo Exports Corporation Private Limited CARE BB+ CARE BB 316 GVK Power & Infrastructure Limited CARE BBB+ CARE D 317 GVK Power & Infrastructure Limited CARE D CARE BB

5 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 318 GVK Power (Goindwal Sahib) Limited CARE BB CARE D 319 GVK Projects & Technical Services Limited CARE BBB- CARE BB+ 320 GVK Transportation Private Limited CARE BBB+ (SO) CARE BB (SO) 321 H. K. Designs India CARE BBB+ CARE A 322 Haldia Energy Limited CARE A- CARE A 323 Haldia Petrochemicals Limited CARE BBB- CARE BBB 324 Happy Forgings Limited CARE BB CARE BB+ 325 Harsh Gathani Enterprise Private Limited CARE BB CARE BB+ 326 Harsh Macro Buildhome Private Limited CARE B+ CARE BB- 327 Haryana Conductors Private Limited CARE BB- CARE BB 328 Hasti Petro Chemical & Shipping Limited CARE B+ CARE BB- 329 Havmor Ice Cream Limited CARE A- CARE A 330 Hazaribagh Ranchi Expressway Limited CARE AA- CARE AA 331 HES Infra Private Limited CARE BBB- CARE BBB+ 332 Hetero Drugs Limited CARE A CARE A+ 333 Hetero Labs Limited CARE A+ CARE AA- 334 Hetero Med Solutions Limited CARE A+ (SO) CARE AA- (SO) 335 Hetero Wind Power Limited CARE A+ (SO) CARE AA- (SO) 336 Hi Reach Construction Equipments Private Limited CARE B CARE BB- 337 High Energy Batteries India Limited CARE BB CARE D 338 Himachal Futuristic Communications Limited CARE BBB CARE BBB+ 339 Himadri Chemicals & Industries Limited CARE A+ CARE A- 340 Himalayan Expressway Limited CARE BBB- CARE BB 341 Hind Agro Industries Limited CARE BB- CARE D 342 Hind Industries Limited CARE BB- CARE D 343 Hindalco Industries Limited CARE AA+ CARE AA 344 Hindupur Steel And Alloys Private Limited CARE B CARE BB- 345 Hindustan Dall & Flour Mills CARE BB CARE BB+ 346 Hindustan Organic Chemicals Limited CARE D CARE AAA (SO) 347 Hindusthan National Glass and Industries Limited CARE BBB- CARE BB 348 Hindware Home Retail Private Limited CARE A+ (SO) CARE AA- (SO) 349 Hi-Tech Elastomers Limited CARE BB+ CARE BB 350 Hitech Print Systems Limited CARE B CARE B+ 351 Hollis Vitrified Private Limited CARE BB- CARE BB 352 Horizon Microtech Private Limited CARE BB CARE BB- 353 Housing Development Finance Corporation Limited - Securitisation CARE BBB (SO) CARE A+ (SO) 354 Hsil Limited CARE A+ CARE AA- 355 IDBI Bank Limited CARE AA+ CARE AA 356 IDF Financial Services Private Limited CARE BB CARE BB+ 357 Igarashi Motors India Limited CARE A CARE A+ 358 IKF Finance Limited CARE BBB+ CARE A- 359 IND-Barath Energy (Utkal) Limited. CARE BB+ CARE D 360 Ind-Barath Powergencom Limited CARE BB+ CARE D 361 Ind-Barath Thermotek Private Limited CARE BB+ CARE B+ 362 Independent News Service Private Limited CARE BBB+ CARE A 363 India Land Infrastructure Development Private Limited CARE BBB+ CARE A 364 India TV Interactive Media Private Limited CARE BBB CARE BBB+ 365 Indiabulls Financial Services Limited - Securitisation CARE BBB (SO) CARE A+ (SO) 366 Indiabulls Financial Services Limited - Securitisation CARE AA+ (SO) CARE AAA (SO) 367 Indiabulls Properties Private Limited CARE A+ (SO) CARE AA- (SO) 368 Indiabulls Real Estate Company Private Limited CARE A+ (SO) CARE AA- (SO) 369 Indian Armour Systems Private Limited CARE BB CARE BB- 370 Indian Cane Power Limited CARE BB+ CARE D 371 Indian Hospitex Private Limited CARE BBB+ (SO) @ CARE BB+ 372 Indian Overseas Bank CARE AA- CARE A+ 373 Indian Overseas Bank CARE AA- CARE A- 374 Indian Overseas Bank CARE A- CARE BBB 375 IndianOil Skytanking Private Limited CARE AA- CARE AA 376 Indore Composite Private Limited CARE BB+ CARE BBB- 377 Infinite Water Solutions Private Limited CARE BBB CARE BBB+ 378 Inkel Limited CARE BBB CARE BBB+ 379 Inkel Limited CARE BBB (FD) CARE BBB+ (FD) 380 Innovassynth Technologies India Limited CARE BB- CARE BB

6 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 381 Intec Capital Limited CARE BBB- CARE BBB 382 Integral Biosciences Private Limited CARE BBB- CARE BBB 383 Integrated Fire Protection Private Limited CARE BB CARE BB+ 384 Integrated Live Stock Village Farm Private Limited CARE BB- (SO) CARE D 385 International Conveyors Limited CARE A- CARE BBB+ 386 Intex Technologies (India) Limited CARE A- CARE A 387 Investment & Precision Castings Limited CARE BB+ CARE BBB- 388 Ishita Buildcon Private Limited CARE B CARE B+ 389 ITZ Cash Card Limited CARE BB- CARE BB 390 J. B. Rolling Mills Limited CARE BBB- CARE BB+ 391 J.M.L. Marketings Private Limited CARE BBB- CARE BBB 392 Jagat Agro Commodities Private Limited CARE BBB- CARE D 393 Jai Prakash Sewa Sansthan CARE BBB- CARE BB+ 394 Jai Sakthi Mills CARE B+ CARE BB- 395 Jaigad Power Transco Limited CARE A- CARE A 396 Jaiprakash Power Ventures Limited CARE BB CARE B 397 Jaiprakash Power Ventures Limited CARE BB CARE D 398 Jaipur Mahua Tollway Private Limited CARE A CARE AA- 399 Janki Corp Limited CARE B+ CARE D 400 Jaora Nayagaon Toll Road Company Private Limited CARE BBB+ CARE A- 401 Jas Toll Road Company Limited CARE BBB- CARE BB 402 Jay Chemical Industries Limited CARE A CARE A+ 403 Jaypee Cement Coporation Limited CARE BB CARE D 404 Jaypee Healthcare Limited CARE BBB- CARE BB 405 Jayshri Propack Private Limited CARE BB CARE BB+ 406 JECRC University CARE BB- CARE B+ 407 Jewel Star CARE B+ CARE BB- 408 Jindal Steel And Power Limited CARE A+ CARE A 409 Jindal Steel And Power Limited CARE A CARE BBB+ 410 Jindal Steel And Power Limited CARE BBB+ CARE BB+ 411 Jindal Steel And Power Limited CARE BB+ CARE D 412 JITF Water Infrastructure Limited CARE BBB CARE BBB- 413 Jiya Eco Products Limited CARE BB CARE BBB- 414 Jogvick Manufacturing & Trading Private Limited CARE BB+ CARE D 415 Johal & Company (Wine Sales) Private Limited CARE BB+ CARE D 416 Joy Mahaprovu Cold Storage Private Limited CARE B CARE B+ 417 JSIW Infrastructure Private Limited CARE BBB CARE BBB+ 418 JSR Mulbagal Tollways Private Limited CARE BB- CARE D 419 JSW Steel Limited CARE AA CARE AA- 420 JSW Steel Processing Centres Limited CARE A+ CARE AA- 421 Jupiter Laminators Private Limited CARE BBB CARE BBB+ 422 Jyoti Limited CARE C CARE D 423 K G Denim Limited CARE BB- CARE BB 424 K. D. Iron and Steel Company CARE BB+ CARE BBB- 425 Kaizen Switchgear Products CARE BBB- CARE BBB 426 Kalthia Engineering and Construction Limited CARE BBB+ CARE A- 427 Kalthia Infra Private Limited CARE BBB+ (SO) CARE A- (SO) 428 Kalthia Infracon Private Limited CARE BBB+ (SO) CARE A- (SO) 429 Kamakhya Shivalik Enterprises Private Limited CARE BB- CARE B+ 430 Kamineni Health Care Private Limited CARE BB CARE D 431 Kamineni Steel & Power India Private Limited CARE BB- CARE D 432 Kankai Pipes and Fittings Private Limited CARE B CARE B+ 433 Kankariya Textile Industries Private Limited CARE BBB- CARE BBB 434 Kanyaka Parameshwari Engineering Limited CARE BB+ CARE BBB- 435 Kapsons Industries Limited CARE B+ CARE D 436 Karnani Solvex Private Limited CARE BB CARE BB+ 437 Karthikeya Agro Industries CARE B CARE B+ 438 Kaveri Ginning Industries Private Limited CARE B CARE B+ 439 Kay Kay Exports CARE B+ CARE BB- 440 Khadim India Limited CARE A- CARE BBB+ 441 Khalghat Sendhwa Tollways Private Limited CARE BBB CARE A- 442 Khalghat Sendhwa Tollways Private Limited CARE BBB- CARE BBB+ 443 Khandelwal Jewellers (Akola) Private Limited CARE B+ CARE BB- 444 Khyati Foods Private Limited CARE BB CARE BB+

7 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 445 Kiran Gems Private Limited CARE A- CARE A 446 Kiran Jewelry CARE A- CARE A 447 Kiran Jewels (India) CARE A- CARE A 448 Kisan Oleochem and Derivatives Private Limited CARE B+ CARE BB- 449 Kkalpana Industries (India) Limited CARE BBB+ CARE A- 450 KMV Projects Limited CARE BBB+ CARE A- 451 Kohinoor Foods Limited CARE BBB CARE BBB- 452 Kopalle Pharma Chemicals Private Limited CARE B CARE BB 453 Kosamattam Finance Limited CARE BBB- CARE BB 454 Kosamattam Finance Limited CARE BBB- CARE BB+ 455 Kovai Medical Center Research And Educational Trust CARE BBB- CARE BBB 456 Krishna Export CARE BB CARE BB+ 457 Krishna Sai Educational Society CARE BB CARE BB+ 458 Krishna Tissues Private Limited CARE BBB CARE BBB- 459 Krishnapatnam Port Company Limited CARE BBB- CARE A 460 Kriti Nutrients Limited CARE BBB- CARE BBB 461 KRYFS Power Components Limited CARE A- CARE A 462 KSE Electricals Private Limited CARE BBB CARE BBB+ 463 KSK Water Infrastructures Private Limited CARE BBB- (SO) CARE BB+ (SO) 464 KSM Spinning Mills Limited CARE BB+ CARE D 465 Kujjal Builders Private Limited CARE BBB- (SO) CARE D 466 Kujjal Builders Private Limited CARE D CARE B (SO) 467 Kulkarni Power Tools Limited CARE BB- CARE B 468 La Opala RG Limited CARE A+ CARE AA- 469 Lava International Limited CARE A- CARE A 470 Lavasa Hotels Limited CARE B CARE D 471 Limbani Steel Private Limited CARE B+ CARE B 472 Livon Ceramic CARE BB- CARE BB 473 LSR Fab Private Limited CARE BB CARE BB+ 474 Lucid Colloids Limited CARE BBB CARE BBB- 475 M. H. Khanusiya CARE BB- CARE BB 476 Ma Moni Cold Storage Private Limited CARE B CARE B+ 477 Maa Tarini Industries Limited CARE BB- CARE D 478 Maa Usha Urja Limited CARE BBB- CARE BB 479 Madan's Wine Stores Private Limited CARE BB+ CARE D 480 Madhav (Phool Sagar Niwas Shahpura Corridor) Highways Private Limited CARE BBB (SO) CARE A- 481 Madhav (Sehora Silodi Corridor) Highways Private Limited CARE BBB (SO) CARE A- 482 Madhav Alloys Private Limited CARE BBB CARE BBB+ 483 Madhav Infra Projects Limited CARE BBB CARE BBB+ 484 Madhav Infracon (BK Corridor) Private Limited CARE BBB (SO) CARE BBB+ (SO) 485 Madhav Solar (Karnataka) Private Limited CARE BBB (SO) CARE BBB+ (SO) 486 Madhusala Drinks Private Limited CARE BB+ CARE D 487 Madhya Pradesh Agro Food Industries Limited CARE BB CARE BB+ 488 Magadh Micro Towers and Transmission Private Limited CARE C CARE B 489 Mahalakshmi Profiles Private Limited CARE BB CARE BB+ 490 Mahaveer Ginning & Pressing CARE BB- CARE BB 491 Mahavir Foods CARE B- CARE D 492 Mahi Granites Private Limited CARE BB CARE BBB- 493 Maihar Alloys Private Limited CARE B CARE B+ 494 Maithan Ceramics Limited CARE BBB- CARE BBB 495 Malladi Drugs and Pharmaceuticals Limited CARE BBB- CARE BBB 496 Malpani cottons Private Limited CARE B+ CARE BB- 497 Malwa Power Private Limited CARE BBB (SO) CARE BBB+ (SO) 498 Manaksia Aluminium Company Limited CARE A CARE A- 499 Manaksia Coated Metals and Industries Limited CARE A CARE A- 500 Manawar Kukshi Tollways Private Limited CARE BBB+ CARE BBB 501 Maneesh Pipes Private Limited CARE BB- CARE BB 502 Mangal Shanti Development Corporation CARE B CARE D 503 Mangalam Drugs and Organics Limited CARE BB+ CARE BBB- 504 Mani Square Limited CARE BBB- (SO) CARE BBB (SO) 505 Mani Square Limited CARE BB+ CARE BBB- 506 Mantena Constructions Private Limited CARE BB+ CARE BBB- 507 Margo Plywood Private Limited CARE B CARE B+ 508 Maruti Fertochem Limited CARE BB+ CARE BB

8 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 509 Matangi Cotton Industries CARE B+ CARE BB- 510 Mathura Extractions CARE BB CARE BB- 511 Maxpure Water System Private Limited CARE BB- CARE BB 512 Mayar Health Resorts Limited CARE D CARE B+ 513 MBE Coal & Mineral Technology India Private Limited CARE BBB (SO) @ CARE BB+ (SO) 514 McNally Bharat Engineering Company Limited CARE BBB- (RPS) @ CARE BB (RPS) 515 McNally Bharat Engineering Company Limited CARE BBB @ CARE BB+ 516 McNally Sayaji Engineering Limited CARE BBB- @ CARE BB 517 McNally Sayaji Engineering Limited CARE BBB (SO) @ CARE BB+ (SO) 518 McNally Sayaji Engineering Limited CARE BBB CARE BB 519 Mechvac Fabricators (I) Private Limited CARE BB CARE BB+ 520 Meghalaya Cements Limited CARE A- CARE A 521 Mehsana District Co-Operative Milk Producers' Union Limited CARE AA CARE AA+ 522 Mercator Limited CARE A CARE A- 523 Mercator Oil & Gas Limited CARE A (SO) CARE A- (SO) 524 Mercury Travels Limited CARE BB+ CARE BBB- 525 Meril Diagnostics Private Limited CARE A+ (SO) CARE AA- (SO) 526 Meril Endo Surgery Private Limited CARE A+ (SO) CARE AA- (SO) 527 Meril Healthcare Private Limited CARE A+ (SO) CARE AA- (SO) 528 Meril Life Sciences India Private Limited CARE A+ (SO) CARE AA- (SO) 529 Meril Life Sciences Private Limited CARE A+ (SO) CARE AA- (SO) 530 Metro Global Limited CARE BBB CARE BBB+ 531 Mfar Realtors Private Limited CARE B+ CARE B 532 MG Tex Fab Private Limited CARE B+ CARE BB- 533 MGR Agro Products Private Limited CARE B+ CARE BB- 534 Micro Therapeutic Research Labs Private Limited CARE BBB CARE BBB- 535 Milan Cottex CARE B+ CARE BB- 536 Millennium Aero Dynamics Private Limited CARE BB CARE BB+ 537 Mohijuli Tea Company Private Limited CARE BB- CARE BB 538 Mojj Engineering Systems Limited CARE BB- CARE BB+ 539 Moksha Thermoplastics Private Limited CARE BB+ CARE BBB- 540 MP Highways Private Limited CARE BBB CARE BBB+ 541 MPM Private Limited CARE BB- CARE BB 542 Mukesh Strips Limited CARE B CARE D 543 Multi Infratech Private Limited CARE BBB CARE BBB- 544 Mumbai Products (India) CARE B+ CARE BB- 545 Munnangi Sea Foods Private Limited CARE BB CARE BB+ 546 Murlidhar Ratanlal Exports Limited CARE BBB- CARE BB+ 547 MWV India Paperboard Packaging Private Limited CARE A+ CARE A- 548 Nagarjuna Agrichem Limited CARE BBB CARE BBB+ 549 Narayan Spinning Mills Private Limited CARE B CARE B+ 550 Nashik District Maratha Vidya Prasarak Samaj CARE A CARE A+ 551 Navbharat Explosive Company Limited CARE BB CARE B+ 552 Navbharat Fuse Company Limited CARE BB CARE B+ 553 Navi Mumbai SEZ Private Limited CARE A CARE AA 554 Navin Fluorine International Limited CARE AA- CARE AA 555 Nayaab Jewels CARE D CARE B 556 NB Entrepreneurs CARE BB- CARE BB 557 Network Clothing Company Private Limited CARE BB CARE BB+ 558 New Mount Trading & Investment Company Limited CARE BBB- (SO) CARE BBB (SO) 559 Nexgen Laminators Private Limited CARE BB- CARE D 560 Nidhi Mercantiles Limited CARE B+ CARE BB 561 Nigam Cold Storage Private Limited CARE B CARE B+ 562 Nilkanth Chawal Mills Private Limited CARE BB CARE D 563 Nilkanth Ferro Limited CARE BBB- CARE BB+ 564 Nimbus Pipes Limited CARE D CARE B- 565 NSL Cotton Corporation Private Limited CARE B+ CARE B- 566 NSP BVSR KP Road Projects Private Limited CARE BBB- CARE BBB+ 567 NSP Variegate PP Road Projects Private Limited CARE BBB- CARE BBB+ 568 NSP Variegate RG Road Projects Private Limited CARE BBB- CARE BBB+ 569 NuPower Renewables Private Limited CARE BBB CARE D 570 Nuziveedu Swathi Coastal Consortium CARE B+ CARE D 571 NV International Private Limited CARE BB- CARE D 572 Oasis Overseas Private Limited CARE BB- CARE BB

9 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 573 Oasis Tradelink Limited CARE BB CARE BB+ 574 OB Infrastructure Limited CARE A- (SO) CARE A (SO) 575 Om Besco Rail Products Limited CARE BBB- CARE BB 576 Om Construction Company CARE BB- CARE BB 577 Om Logistics Limited CARE A+ CARE AA- 578 Om Shree International Private Limited CARE BBB- CARE BBB 579 Omicron Power Engineers Private Limited CARE B+ CARE C 580 Ongole Arogya Hospitals Private Limited CARE BB CARE D 581 Orange Jaisalmer Wind Energy Private Limited CARE BBB CARE BBB+ 582 Oriental Bank Of Commerce CARE AA- CARE A+ 583 Oriental Bank Of Commerce CARE AA+ CARE AA 584 Oriental Bank Of Commerce CARE AA CARE AA- 585 Origin Formulations Private Limited CARE B CARE BB- 586 Oriilon India Private Limited CARE B CARE B+ 587 Osmed Formulation Private Limited CARE BB CARE BB- 588 Oswal Extrusion Limited CARE BBB- CARE BB 589 Oswal Spinning and Weaving Mills Limited CARE C CARE D 590 Overseas Polymers Private Limited CARE A- CARE A 591 P. G. Infrastructure & Services Private Limited CARE B CARE B+ 592 P. P. Rolling Mills Manufacturing Company Private Limited CARE BB CARE BB+ 593 P.N. Gadgil and Sons CARE BBB+ CARE A- 594 PAE Limited CARE B+ CARE D 595 Palaparthi Super Speciality Hospital Private Limited CARE BB CARE BB+ 596 Palette International CARE BB CARE BB+ 597 Palimarwar Solar Project Private Limited CARE BBB CARE BBB+ 598 Pallishree Limited CARE BBB+ CARE A- 599 Palmar Mills Private Limited CARE BB CARE BB+ 600 Panacea Biotec Limited CARE D CARE B- 601 Panchmahal Steel Limited CARE BBB- CARE BB+ 602 Panyam Cements and Mineral Industries Limited CARE D CARE C 603 Panyam Cements and Mineral Industries Limited CARE C CARE B- 604 Paramount Powders Private Limited CARE BB+ CARE BB 605 Paras Ram Textiles Private Limited CARE C CARE B+ 606 Parenteral Surgicals Limited CARE B CARE D 607 Partap Spintex Limited CARE BBB- CARE BBB 608 Parthas CARE BB- CARE B+ 609 Passavant Energy and Environment India Private Limited CARE A- (SO) CARE BBB+ (SO) 610 Patanjali Ayurved Limited CARE BBB+ CARE A 611 Patel Jiva Sales Private Limited CARE B- CARE B+ 612 Patna Highway Projects Limited CARE BB CARE B 613 Patspin India Limited CARE B+ CARE D 614 Patspin India Limited CARE B+ CARE C 615 Pavathal Spinning Mills Private Limited CARE BB CARE BB+ 616 Pawar Electro Systems Private Limited CARE BBB CARE BBB+ 617 Pengvin Ceramics CARE BB- CARE BB 618 Peppermint Clothing Private Limited CARE B+ CARE BB- 619 Phoenix Impex Private Limited CARE BB+ CARE BB 620 Phoenix Projects Private Limited CARE BB+ CARE BBB- 621 Pinnacle Industries Limited CARE BBB- CARE BBB 622 Pinnacle Industries Limited CARE BBB (SO) CARE BBB+ (SO) 623 Plastene India Limited CARE BBB- CARE BB 624 PNC Bareilly Nainital Highways Private Limited CARE BBB- CARE BBB 625 PNC Infratech Limited CARE A CARE A+ 626 PNC Kanpur Highways Limited CARE BBB- CARE BBB 627 PNG Jewellery & Gems CARE BBB- CARE BBB 628 Poscho Steel Private Limited CARE BB+ CARE BB 629 Prakash Industries Limited CARE B (Is) CARE D (Is) 630 Prasad Education Trust CARE BB CARE BB- 631 Prathishta Weaving & Knitting Company Limited CARE BBB CARE BBB+ 632 Pratibha Industries Limited CARE BBB+ CARE BBB 633 Pratik Transformers Private Limited CARE A- (SO) CARE A (SO) 634 Pravara Renewable Energy Limited CARE BBB- CARE B 635 Pravin Buildtech Private Limited CARE D CARE B 636 Precision Camshafts Limited CARE BBB+ CARE A-

10 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 637 Precot Meridian Limited CARE BBB- CARE BB+

638 Prem Jain Ispat Udyog Private Limited CARE BB- CARE BB 639 Prem Motors Private Limited CARE BBB- CARE BBB 640 Premier Limited CARE BB CARE D 641 Premier Limited CARE BB (FD) CARE D (FD) 642 Prince Marine Transport Services Private Limited CARE B CARE C 643 Prince Marine Transport Services Private Limited CARE B CARE D 644 Prince Spinners Private Limited CARE BB- CARE BB 645 Provogue (India) Limited CARE BBB CARE D 646 PS Srijan Realventure LLP CARE BBB CARE BBB+ 647 PT Barasentosa Lestari CARE BBB (SO) CARE BBB- (SO) 648 Punjab Lighting Industries Limited CARE BB CARE D 649 Punjab National Bank CARE AA+ CARE AA 650 Punjab National Bank CARE AAA CARE AA+ 651 Puran Chand Rice Mills Private Limited CARE B CARE B+ 652 Purbanchal Cement Limited CARE BBB CARE BBB+ 653 Pushp Enterprises CARE BB- CARE BB 654 Quippo Energy Limited CARE AA- (SO) CARE A+ (SO) 655 Quippo Energy Limited CARE A (SO) CARE A- (SO) 656 Quippo Oil & Gas Infrastructure Limited CARE AA- (SO) CARE A+ (SO) 657 R R Stones Private Limited CARE BB+ CARE BB 658 R S K Industries Private Limited CARE D CARE BB- 659 R. A. Shaikh Paper Mills Private Limited CARE BB- CARE BB 660 R. B. Construction CARE BB+ CARE BBB- 661 R. E. Cables and Conductors Private Limited CARE BBB- CARE BBB 662 R.S. Triveni Foods Private Limited CARE BB CARE BB+ 663 Radhamohan Builders Private Limited CARE B+ CARE BB- 664 Radheyshyam Agrawal CARE BB CARE BBB- 665 Radico NV Distilleries Maharashtra Limited CARE BBB CARE A 666 Raebareilly Allahabad Highway Private Limited CARE BB CARE D 667 Rainbow Papers Limited CARE BBB CARE BB+ 668 Raj West Power Limited CARE A- CARE A 669 Rajahmundry Expressway Limited CARE AA CARE A 670 Rajahmundry Godavari Bridge Limited CARE BBB- CARE D 671 Rajasthan Education Institute & Health Society CARE B+ CARE BB- 672 Rajhans Metals Private Limited CARE B CARE B+ 673 Rajuri Steel & Alloys Private Limited CARE B CARE D 674 Rama Handicrafts CARE D CARE BB- 675 Ramakrishna Electronics_(Kurnool) CARE B+ CARE D 676 Ramani Ice Cream Company Limited CARE BBB- CARE BBB+ 677 Ranjit Buildcon Limited CARE A CARE A+ 678 Ranjit Toll Road Private Limited CARE A (SO) CARE A+ (SO) 679 Rapier Machinery Manufacturing Company India Private Limited CARE BBB- CARE BBB 680 Rashmi Cement Limited CARE BBB+ CARE A- 681 Rashmi Metaliks Limited CARE BBB+ CARE A- 682 Rashtriya Ispat Nigam Limited CARE AA- CARE A+ 683 Ratnagarbha Agro Private Limited CARE BB- CARE D 684 Rattan Polychem Private Limited CARE BB- CARE BB 685 Rawalwasia Textile Industries Private Limited CARE B+ CARE BB- 686 Rawalwasia Yarn Dyeing Private Limited CARE B+ CARE BB- 687 Rayana Paper Board Industries Limited CARE BBB- CARE BBB 688 RCL Paper and Packagings Limited CARE BB CARE D 689 RDA Energy Private Limited CARE BBB CARE BBB+ 690 Real Strips Limited CARE BBB- CARE BB+ 691 Redstone Granito Private Limited CARE B+ CARE BB 692 Reengus Sikar Expressway Limited CARE BBB+ CARE A+ 693 Regaliaa Buildtech and Services Private Limited CARE BB CARE BB+ 694 Reliance Jute Mills International Limited CARE BB CARE BB- 695 Renew Power Ventures Private Limited CARE A CARE A+ 696 Renew Power Ventures Private Limited CARE A (Is) CARE A+ (Is) 697 Renew Wind Energy Rajkot Private Limited CARE BBB+ CARE A- 698 Rishi FIBC Solutions Private Limited CARE BBB+ CARE A- 699 Rishi Ice and Cold Storage Private Limited CARE B CARE B+

11 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 700 Riverbank Developers Private Limited CARE BBB- CARE BBB 701 Roger Industries Limited CARE BBB- CARE BBB 702 Rolex Cycles Private Limited CARE BB- CARE BB 703 Rolex Processors Private Limited CARE B CARE BB- 704 Rolta India Limited CARE A+ CARE A 705 RSV Global CARE BB- CARE BB 706 Ruchi Malls Private Limited CARE BB+ CARE BBB 707 S. Jogani Exports Private Limited CARE BBB- CARE BBB 708 S. V. Aluext Profile Private Limited CARE BB- CARE BB 709 S.E. Power Limited CARE BBB- CARE BB+ 710 S.K. Brothers CARE B+ CARE BB- 711 S.K.P. Bearing Industries CARE BB+ CARE BBB- 712 S.Pal Enterprises Private Limited CARE B CARE BB- 713 Sahaj e-Village Limited CARE AA- (SO) CARE A+ (SO) 714 Sahaj e-Village Limited CARE A (SO) CARE A- (SO) 715 Sahaj e-Village Limited CARE A- (SO) CARE A+ (SO) 716 Sahyog Ginning & Pressing Private Limited CARE B+ CARE BB- 717 Sai Applied Technologies Private Limited CARE BB CARE BB+ 718 Sai Wardha Power Limited CARE BBB- CARE BB+ 719 Saisudhir Energy Limited CARE B+ CARE D 720 Sakku Spinning Mills Private Limited CARE BB CARE BB- 721 Sakrat Texfab Private Limited CARE D CARE B 722 Salsan Steels Private Limited CARE B+ CARE BB- 723 Samarpan Synthetics Private Limited CARE B+ CARE BB- 724 Sami Labs Limited CARE BBB CARE BBB+ 725 Sanshu Green Corn Private Limited CARE B CARE B+ 726 Sar Senapati Santaji Ghorpade Sugar Factory Limited CARE D CARE B- 727 Sarda Energy & Minerals Limited CARE A+ @ CARE A 728 Sarda Metal & Alloys Limited CARE BBB CARE BB+ 729 Sarvajanik Jankalyan Parmarthik Nyas CARE B CARE B+ 730 Sarvesh Agencies Private Limited CARE B+ CARE D 731 Satsangi Traders Private Limited CARE BB CARE BB+ 732 Satya Deeptha Pharmaceuticals Limited CARE BB+ CARE BBB- 733 Satya Prakash Builders Limited CARE B+ CARE BB- 734 Satyanarayan Tea Company Private Limited CARE BB+ CARE B 735 SBW Udyog Limited CARE BBB- CARE BBB 736 Scan Steels Limited CARE B+ CARE D 737 Scan Steels Limited CARE B+ (FD) CARE D (FD) 738 Scholar International Educational Foundation CARE B+ CARE D 739 Scion Exports Private Limited CARE BBB- CARE BBB 740 SE Forge Limited CARE D CARE BBB- 741 Secure Energy Services Limited CARE A (SO) CARE A+ (SO) 742 Secure Meters Limited CARE A CARE A+ 743 Selene Estate Limited CARE A+ (SO) CARE AA- (SO) 744 Semler Research Center Private Limited CARE BB- CARE BB+ 745 Senthil Papers and Boards Private Limited CARE BB+ CARE D 746 Seya Industries Limited CARE BBB+ CARE A- 747 Shalimar Paints Limited CARE BBB+ CARE BBB 748 Shambhu Mahadev Sugar & Allied Industries Limited CARE BB- CARE B+ 749 Shapoorji Pallonji Forbes Shipping Limited CARE A (SO) CARE AA (SO) 750 Sharad Cotton Private Limited CARE B CARE B+ 751 Sharon Bio-Medicine Limited CARE BB CARE B+ 752 Shendra Green Energy Limited CARE A- (SO) CARE A (SO) 753 Shirdi Sai Electricals Limited CARE BBB+ CARE A- 754 Shiv Health Foods LLP CARE BBB- CARE BBB 755 Shiv Shipping Services CARE BB- CARE BB+ 756 Shiva Cement Limited CARE BBB CARE BB 757 Shiva Satya Hotels Private Limited CARE D CARE B 758 Shivalay Ispat & Power Private Limited CARE BBB+ (SO) CARE A- (SO) 759 Shivalaya Construction Company Private Limited CARE BBB- CARE BBB 760 Shivalik Engineering Industries Private Limited CARE BB (SO) CARE BB+ (SO) 761 Shivalik Power and Steel Private Limited CARE BB CARE BB+ 762 Shivangi Polysack Private Limited CARE BB- CARE BB 763 Shivani Scientific Industries Private Limited CARE BB CARE BB+

12 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 764 Shivom Minerals Limited CARE BBB- CARE BB- 765 Shree Balaji Texspin Private Limited CARE B+ CARE D 766 Shree Bhimeshwari Ispat Private Limited CARE BB CARE D 767 Shree Jeenmata Dyeing and Printing Mills Private Limited CARE BB- CARE BB 768 Shree Mandvi Vibhag Sahakari Khand Udhyog Mandli Limited CARE BB CARE D 769 Shree Mangal Proteins Limited CARE B+ CARE BB- 770 Shree Ramkrishna Exports Private Limited CARE A- CARE A 771 Shree Shubham Logistics Limited CARE A- CARE BBB+ 772 Shree Shyam Road Carrier CARE BB- CARE BB 773 Shree Siddhivinayak Ispat Private Limited CARE BB CARE D 774 Shri Arunachaleswarar Tex CARE B CARE B+ 775 Shri Dhanalakshmi Spinntex Private Limited CARE BB CARE BB+ 776 Shri Mahavir Ferro Alloys Private Limited CARE B+ CARE D 777 Shri Mahavir Pulses Private Limited CARE BB CARE BB+ 778 Shri Ram Charitable Trust CARE BB+ CARE BBB- 779 Shri Shyam Warehousing & Power Private Limited CARE BB CARE BB+ 780 Shri Vardhman Rice Mills Private Limited CARE B CARE B+ 781 Shristi Hotel Private Limited CARE BBB (SO) CARE BBB- (SO) 782 Shristi Housing Development Limited CARE BBB (SO) CARE BBB- (SO) 783 Shristi Infrastructure Development Corporation Limited CARE BBB CARE BBB- 784 Shristi Ispat & Alloys Limited CARE BB- CARE BB 785 Shroff Oil Manufacturing Company Private Limited CARE BB CARE BB+ 786 Siddhartha Engineering Limited CARE BB+ CARE BBB- 787 Sidhi Vinayak Rice Mills CARE B CARE D 788 Signet Industries Limited CARE BBB- CARE BBB 789 Simanchal Construction CARE B+ CARE BB- 790 Simplex Engineering & Foundry Works Private Limited CARE BBB+ CARE BBB- 791 Sipping Spirits Private Limited CARE BB CARE B+ 792 Sirius Infra Projects Private Limited CARE BB+ CARE D 793 Sitaram Maharaj Sakhar Karkhana (Khardi) Limited CARE B CARE D 794 Siti Cable Network Limited CARE AA (SO) CARE AA+ (SO) 795 SKS Buildtech Private Limited CARE B+ CARE BB- 796 SKS Fasteners Limited CARE BB- CARE BB 797 Sky Cotex India Private Limited CARE BB+ CARE BBB- 798 SLEC Infra Projects Private Limited CARE BB CARE BB- 799 SMC Foods Limited CARE BBB CARE BBB+ 800 SMS Limited CARE BBB CARE BBB+ 801 SMS Limited CARE BBB+ CARE A- 802 Smt. Nanadamuri Basava Taraka Rama Rao Memorial Cancer Foundation & Research Centre CARE BB+ CARE BBB- 803 SNJ Synthetics Limited CARE BB- CARE BB 804 SNS Starch Limited CARE B- CARE B+ 805 Sobhagia Clothing Company CARE BB CARE BBB- 806 Soktas India Private Limited CARE BB+ CARE BBB- 807 Solaimalai Enterprises CARE BB CARE BB+ 808 Sona Alloys Private Limited CARE B+ CARE BB- 809 Sona Wires Private Limited CARE B CARE B+ 810 Sonata Ceramica Private Limited CARE B+ CARE BB- 811 South City International School CARE BBB+ (SO) CARE A- (SO) 812 South City Projects (Kolkata) Limited CARE BBB+ CARE A- 813 SPC Chetak Tollways Private Limited CARE A- (SO) CARE A+ (SO) 814 Spectrum Johnson Tiles Private Limited CARE BBB- CARE BBB 815 SPM Marbles Private Limited CARE B+ CARE BB- 816 SQ Squeezers Private Limited CARE B CARE D 817 Sree Sree Rakhahari Cold Storage Private Limited CARE B CARE B+ 818 Sreedhareeyam Ayurvedic Eye Hospital And Research Center Private Limited CARE BB CARE BB+ 819 Sreedhareeyam Ayurvedic Medicines Private Limited CARE BB CARE BB+ 820 SRG Housing Finance Limited CARE BB CARE BB+ 821 Sri Anjaneya Agrotech Private Limited CARE BB- CARE B+ 822 Sri Murugar Spinning Mill CARE BB- CARE BB 823 Sri Ram Cables Private Limited CARE B CARE BB- 824 Sri Ram Enterprises_(Bhagalpur) CARE BB- CARE BB 825 Sri Sai Constructions CARE BB CARE BB+ 826 Sridhar Engineering & Rubber Products Private Limited CARE BB CARE BB- 827 Srinivasa Steel Products CARE B+ CARE D

13 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 828 SRK Chemicals Limited CARE BB- CARE BB 829 SRK Group CARE B+ CARE BB 830 SSAB Energy & Minerals Limited CARE BBB- CARE D 831 Stamlo Hotels Limited CARE BBB CARE BBB+ 832 Stanadyne Amalgamations Private Limited CARE A- CARE BBB+ 833 Stanlubes and Specialities India Private Limited CARE B+ CARE B 834 Steel Authority of India Limited CARE AAA CARE AA+ 835 Steel Konnect India Private Limited CARE BB+ CARE BBB- 836 Sterling Gated Community Private Limited CARE BB+ CARE D 837 Stone India Limited CARE BB- CARE BB 838 Strata Geosystems India Private Limited CARE BBB+ CARE A- 839 Stylam Industries Limited CARE BBB CARE BBB+ 840 Sugee Developers CARE BB CARE BB+ 841 Sukh Sagar Motors Private Limited CARE B+ CARE D 842 Sumit Gems CARE BB- CARE BB 843 Sun Agrifresh Industries Private Limited CARE BBB- CARE BB+ 844 Suncity Sheets Private Limited CARE BB+ CARE BBB- 845 Sundaram Steels Private Limited CARE B+ CARE BB- 846 Sunlex Fabrics Private Limited CARE B CARE BB- 847 Sunteck Realty Limited CARE A CARE A+ 848 Suraksha Packers Private Limited CARE BB CARE BB+ 849 Surjeet Auto Private Limited CARE BB CARE BB+ 850 Suruchi Foods Private Limited CARE BB CARE BB+ 851 Surya Global Steel Tubes Limited CARE BBB CARE BBB+ 852 Suryadev Alloys and Power Private Limited CARE BBB CARE BBB+ 853 Suryajyoti Spinning Mills Limited CARE B- CARE D 854 Swaraj Suitings Private Limited CARE BB- CARE BB 855 Swaraj Sulz Private Limited CARE BB- CARE BB 856 Swathy Smart Cards Hi-Tech Private Limited CARE BB CARE D 857 SWD Industries CARE BB- CARE BB 858 Symbiotec Pharmalab Private Limited CARE A- CARE A 859 T&T Projects Limited CARE BBB- CARE BBB 860 Taksh Infrastructure LLP CARE B CARE B+ 861 Talluri Textiles Private Limited CARE BB- CARE BB 862 Talwalkars Better Value Fitness Limited CARE AA- CARE AA 863 Tamilnadu Petroproducts Limited CARE BBB CARE BBB- 864 Tangnu Romai Power Generation Private Limited CARE B CARE D 865 Taquito Lease Operators Private Limited CARE BBB+ (SO) CARE A- (SO) 866 Tara Jewels Limited CARE BBB+ CARE BB 867 Tarachand International Private Limited CARE B CARE D 868 Tarapore and Company CARE A CARE A- 869 Tarendra Infrastructure Chennai Private Limited CARE BB CARE B 870 Tarsons Products Private Limited CARE BBB CARE BBB+ 871 Tata Blue Scope Steel Limited CARE BBB+ CARE A 872 Tathva Projects Private Limited CARE BB- CARE B+ 873 TCG Hamilton India Limited CARE A- CARE BB 874 Terra Infra Development Limited CARE BB- CARE B 875 Thatavarthi Apparels Limited CARE BB- CARE BB 876 THDC India Limited CARE AA CARE AA+ 877 The Catholic Syrian Bank Limited CARE BBB CARE BBB- 878 The India Cements Limited CARE A- CARE BBB+ 879 The Kandivli Education Society CARE BB CARE BB+ 880 The Kutch Salt & Allied Industries Limited CARE BB CARE BB+ 881 The Mobile Store Services Limited CARE B+ CARE D 882 The Mobile Store Services Limited CARE D CARE B+ 883 The Ruby Mills Limited CARE BB- CARE D 884 The State Trading Corporation of India CARE BB CARE BB+ 885 The West Coast Paper Mills Limited CARE BBB @ CARE BBB+ 886 Theis Precision Steel India Private Limited CARE BBB+ CARE BBB 887 Thexa Pharma Private Limited CARE BB- CARE BB 888 Thirumalai Chemicals Limited CARE BBB- CARE BBB 889 TIL Limited CARE A- CARE BBB+ 890 TIM Delhi Airport Advertising Private Limited CARE A CARE A+ 891 Tirupati International CARE BB CARE BB+

14 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 892 Titan Tex Fab Private Limited CARE B+ CARE BB- 893 TLT Engineering India Private Limited CARE BBB- CARE BBB 894 Tree House Education and Accessories Limited CARE A- CARE A 895 TRF Limited CARE A+ CARE A- 896 Trilok Security Systems India Private Limited CARE BB- CARE BB 897 Trimex Sands Private Limited CARE BBB+ CARE BBB 898 Trinetra Cements Limited CARE A- (SO) @ CARE BBB+ (SO) @ 899 Triton International Private Limited CARE BBB- CARE BBB 900 Trivista Steel And Power Private Limited CARE BB CARE BB- 901 Tropical Agrosystem (India) Private Limited CARE BBB- CARE BBB+ 902 Truba Advance Sciences Kombine CARE B CARE D 903 Truetzschler India Private Limited CARE AA- CARE AA 904 Turtle Limited CARE BBB- CARE BBB 905 TVS Novotema Elastomeric Engineered Products Private Limited CARE BBB CARE BBB+ 906 U. C. Jain Foundation Trust CARE B CARE D 907 UCO Bank CARE AA+ CARE AA 908 UCO Bank CARE AA CARE AA- 909 UCO Bank CARE A+ CARE A 910 UIC Udyog Limited CARE B- CARE D 911 UM Cables Limited CARE A- CARE BBB+ 912 Umalaxmi Organics Private Limited CARE BBB- CARE BBB 913 Umang Boards Private Limited CARE B CARE BB- 914 Umesh Industries Private Limited CARE B CARE B+ 915 Unidrug Innovative Pharma Technologies Limited CARE BB- CARE BB 916 Unique Estates Development Company Limited CARE A CARE AA- 917 Unique Estates Development Company Limited CARE A (FD) CARE AA- (FD) 918 Unique Green Energy Technologies Private Limited CARE BBB+ (SO) CARE A- (SO) 919 United Chloro Parafins Private Limited CARE BB+ CARE BB 920 United Infraventures Limited CARE C CARE B 921 Unity Jewels CARE BBB+ CARE A 922 Urjankur Shree Datta Power Company Limited CARE BBB CARE A- 923 Urjankur Shree Tatyasaheb Kore Warna Power Company Limited CARE BBB- CARE BBB 924 Usha Spincoat Private Limited CARE BB- CARE B+ 925 Usher Agro Limited CARE BBB+ CARE D 926 Utkal Alumina International Limited CARE AA+ (SO) CARE AA (SO) 927 Uttam Galva Metallics Limited CARE BBB CARE BBB-

15 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 928 Uttam Value Steels Limited CARE BBB- (SO) CARE BB+ 929 Uttara Foods and Feeds Private Limited CARE A- (SO) CARE D 930 Uttara Impex Private Limited CARE A- (SO) CARE BBB (SO) 931 Vaibhav Rice Mill_Bavla CARE BB- CARE BB 932 Val Pack Solutions Private Limited CARE B- CARE B+ 933 Vardhaman Technology Private Limited CARE BB CARE BB+ 934 Vasavi Power Services Private Limited CARE BB CARE D 935 Vasishta Constructions Private Limited CARE D CARE C 936 Vasishta Constructions Private Limited CARE C CARE BB 937 Vatsa Automobiles Private Limited CARE B+ CARE BB- 938 Vedant Dyestuffs Intermediates Private Limited CARE BB CARE BB- 939 Vedic Resorts & Hotels Private Limited CARE BB CARE BB+ 940 Venkateshwara Cotton Mills CARE B+ CARE BB- 941 Venkateshwara Hatcheries Private Limited CARE A- CARE BBB 942 Venky's India Limited CARE A- CARE BBB 943 Vennar Ceramics Limited CARE BBB+ (SO) CARE A- (SO) 944 Venus India Asset-Finance Private Limited CARE BB CARE BB+ 945 Vesta Equipment Private Limited CARE B+ CARE D 946 Victory Ceratech Private Limited CARE BB- CARE BB+ 947 Videocon d2h Limited CARE A- CARE D 948 Videocon d2h Limited CARE D CARE BBB+ 949 Vids Overseas CARE B+ CARE BB- 950 Vijay Tanks and Vessels Private Limited CARE A CARE A+ 951 Vikram Solar Private Limited CARE BBB+ CARE A- 952 Viom Networks Limited CARE A- CARE A 953 Viraat Fashion CARE B+ CARE BB- 954 Virat Spinners Private Limited CARE B+ CARE BB 955 Virtuous Urja Limited CARE A- (SO) CARE A (SO) 956 Visa Power Limited CARE B+ CARE D 957 Vishnu Saran and Company CARE BB CARE BB+ 958 Vishwa Infrastructures and Services Private Limited CARE B CARE D 959 Vitthal Corporation Limited CARE B CARE BB- 960 Vivimed Labs Limited CARE BB+ CARE BBB- 961 Vrindaa Crafts Private Limited CARE B+ CARE BB- 962 VSP Udyog Private Limited CARE BBB- CARE BB+ 963 WAA Solar Private Limited CARE BBB CARE BBB+ 964 Walchandnagar Industries Limited CARE BBB+ CARE BBB- 965 Wellknown Polysters Limited CARE A CARE A+ 966 Welmade Locking Systems Private Limited CARE BBB CARE A- 967 Welspun Solar Kannada Private Limited CARE BBB CARE BBB+ 968 Welspun Solar Madhya Pradesh Private Limited CARE BBB CARE BBB+ 969 West Bengal Infrastructure Development Finance Corporation Limited CARE A+ (SO) CARE AA- (SO) 970 Western Suitings Private Limited CARE BB- CARE BB 971 Western Transformers & Equipments Private Limited CARE BB CARE BB- 972 Whistle Media Network Private Limited CARE B CARE BB- 973 White Pearls Hotels and Investments Private Limited CARE B CARE B+ 974 Whitelotus Industries Limited CARE D CARE C 975 Wind Urja India Private Limited CARE A- (SO) CARE A (SO) 976 Win-Stone Industries (India) Private Limited CARE D CARE C 977 Win-Tel Ceramics Private Limited CARE B CARE BB 978 Wintry Engineering and Chemicals Private Limited CARE BB CARE BB+ 979 WPIL Limited CARE A- CARE A 980 Yamuna Industries Limited CARE BB- CARE BB 981 Yantra eSolarIndia Private Limited CARE BB+ (SO) CARE BBB- (SO) 982 Yash Knitwear CARE B CARE BB- 983 YCH Logistics (India) Private Limited CARE BBB- CARE BBB 984 ZEE Entertainment Enterprises Limited CARE AA CARE AA+ 985 Zee Learn Limited CARE AA (SO) CARE AA+ (SO) 986 Zen Tobacco Private Limited CARE B+ CARE B 987 Zonac Knitting Machines Private Limited CARE BBB- CARE BBB

16 Sr.No. Name of the Issuer Rating prior to revision Rating post revision Rating Movement between October 2015 to March 2016 Short Term Sr.No. Name of the Issuer Rating prior to revision Rating post revision 1 A. K. Shivhare Infrastructure Private Limited CARE A4+ CARE A3 2 Ace Tyres Limited CARE A2 CARE A2+ 3 Adani Welspun Exploration Limited Provisional CARE A2+ (SO) @ Provisional CARE A1 (SO) 4 Advanta Limited CARE A2 CARE A2+ 5 Advent Envirocare Technology Private Limited CARE A3 CARE A3+ 6 Aerocon Buildwell Private Limited CARE A4 CARE D 7 Agile Electric Sub Assembly Private Limited CARE A2+ CARE A1 8 Agroh Biaora Tollways Private Limited CARE A3 (SO) CARE A3+ (SO) 9 Agroh Infrastructure Developers Private Limited CARE A3 CARE A3+ 10 Agroh Ratlam Tollways Private Limited CARE A3 (SO) CARE A3+ (SO) 11 Agroh Rewa Ring Road Private Limited CARE A3 (SO) CARE A3+ (SO) 12 AI Champdany Industries Limited CARE A3+ CARE A3 13 AKA Logistics Private Limited CARE A3+ CARE A2+ 14 AksharChem (India) Limited CARE A2+ CARE A1 15 Akshata Mercantile Private Limited CARE A4+ CARE A4 16 Ambey Mining Private Limited CARE A2+ CARE A1 17 Ambica Alloys CARE A3 CARE A4+ 18 Ambuja Intermediates Limited CARE A3+ CARE A2+ 19 AMCL Machinery Limited CARE A3 (SO) CARE A4 (SO) 20 Ami Lifesciences Private Limited CARE A4 CARE A3 21 Amrit Fresh Private Limited CARE A4 CARE D 22 Amrut Export CARE A4 CARE A4+ 23 Andhra Cements Limited CARE A3 CARE D 24 Anik Industries Limited CARE A3+ CARE A3 25 Anil Limited CARE A3+ CARE A3 26 Anjaney Ferro Alloys Limited CARE A2 CARE A1 27 Antrix Diamond Exports Private Limited CARE A3 CARE A4 @ 28 Apex Diamonds CARE A4 CARE A4+ 29 Arani Argo Oil Industries Private Limited CARE A3 CARE A4 30 Arcadia Shipping Limited CARE A3 CARE A4 31 Ardent Steel Limited CARE A3+ CARE A3 32 Arihant Tiles And Marbles Private Limited CARE A4 CARE A4+ 33 Ario Infrastructure Private Limited CARE A4+ CARE A4 34 Arkay Energy (Rameswarm) Limited CARE A3+ CARE D 35 Arkay Energy (Rameswarm) Limited CARE D CARE A4 36 Arvindbhai Bechardas Jewellers Private Limited CARE A3 CARE A3+ 37 Arwade Infrastructure Limited CARE A4 CARE A4+ 38 Associated Alcohols & Breweries Limited CARE A3 CARE A2 39 Atra Pharmaceuticals Limited CARE A4 CARE D 40 Avaya Industries Limited CARE A4 CARE D 41 Avinash Chalana & Company CARE A4 CARE A4+ 42 Avtec Limited CARE A2+ CARE A2 43 Bagzone Lifestyles Private Limited CARE A4 CARE A4+ 44 Balasore Alloys Limited CARE A4+ CARE A4 45 Banik Rubber Industries (India) Private Limited CARE A2+ CARE A1 46 Banswara Syntex Limited CARE A3+ CARE A3 47 Bengal Energy Limited CARE A3 CARE A4+ 48 Best IT World (India) Private Limited CARE A3+ CARE A3 49 Best Koki Automotive Private Limited CARE A3 CARE A3+ 50 Bhagwati Products Limited CARE A2+ CARE A1 51 Bharat Hotels Limited CARE D CARE A4 52 Bharat Hotels Limited CARE A3 CARE D 53 Bharti Construction Company CARE A4 CARE A4+ 54 Bhavani Cotspin CARE A4 CARE A4+ 55 Bhushan Steel Limited CARE A4 @ CARE D 56 Biostadt India Limited CARE A2+ CARE A1 57 Black Diamond Explosives Private Limited CARE A3 CARE A3+ 58 Blueart Granito Private Limited CARE A4 CARE A4+ 59 Bodal Chemicals Limited CARE A3 CARE A2 60 BPS Industries CARE A3 (SO) CARE A4 (SO) 61 BSR Cancer Hospital Private Limited CARE A3 (SO) CARE D

17 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 62 BSR Diagnostic Limited CARE A3 (SO) CARE D 63 Cadmach Machinery Company Private Limited CARE A2 CARE A2+ 64 Camson Agri - Ventures Private Limited CARE A3 (SO) @ CARE A4 (SO) 65 Celkon Impex private Limited CARE A3+ CARE A3 66 Champalal Motilal Steel Company Private Limited CARE A4+ CARE A4 67 Chemical Process Equipments Private Limited CARE A2 CARE A3+ 68 Cherryhill Interiors Limited CARE A1 CARE A1+ 69 Chetak Enterprises Limited CARE A2+ CARE A1+ 70 Chetak Mitra Tollways Limited CARE A2+ (SO) CARE A1+ (SO) 71 Chhattisgarh Steel & Power Limited CARE A4 CARE D 72 CNC India Tools Services Private Limited CARE A4 CARE A4+ 73 Coffee Day Global Limited CARE A1 CARE A1+ 74 Consulting Engineers Group Limited CARE A2 CARE A2+ 75 Convention Hotels India Private Limited CARE A4 CARE D 76 Coral Ceramic Private Limited CARE A4 CARE A3 77 Coral Plus Ceramic Private Limited CARE A4 CARE A3 78 Cosmic Ferro Alloys Limited CARE A3 CARE A4+ 79 Creative Chain Stores Private Limited CARE A4 CARE A3 80 Dee Development Engineers Limited CARE A3 CARE A3+ 81 Delhi Duty Free Services Private Limited CARE A2+ CARE A1+ 82 Dharampal Premchand Limited CARE A3 CARE A3+ 83 Dharti Dredging & Infrastructure Limited CARE A4+ CARE A3 84 Dhunseri Petrochem Limited CARE A1 CARE A2+ 85 Divyaratna Agrotech Private Limited CARE A4 CARE D 86 Drake and Scull Water and Energy Private Limited CARE A1 (SO) CARE A3+ (SO) 87 Drolia Electrosteels Private Limited CARE A3 CARE A4+ 88 E. I. T. A. India Limited CARE A4+ CARE A3 89 Earth Stahl and Alloys Private Limited CARE A4 CARE D 90 Eastern Hatcheries Private Limited CARE A2+ (SO) CARE A3+ (SO) 91 Eastern Hatcheries Private Limited CARE A2 (SO) CARE A3 (SO) 92 ECA Infrastructure India Private Limited CARE A2+ (SO) CARE A1+ (SO) 93 Electrical Controls and Systems CARE A3 CARE A3+ 94 Electrosteel Castings Limited CARE A1+ CARE A1 95 Electrosteel Castings Limited CARE A1 CARE A2+ 96 Elite Infra Projects Private Limited CARE A4 CARE D 97 Elora Cotton Industries CARE A4 CARE D 98 Emami Agrotech Limited CARE A3 CARE A3+ 99 Emars Mining & Construction Private Limited CARE A4+ CARE A4 100 Energo Engineering Projects Limited CARE A3+ CARE A4 101 Ennore Tank Terminals Private Limited CARE A1 CARE A1+ 102 Eros International Media Limited CARE A1+ CARE A2+ @ 103 ESS DEE Aluminium Limited CARE A3 CARE D 104 Etco Industries Private Limited CARE D CARE A4 105 Excel Source International Private Limited CARE A4 CARE A4+ 106 Exel Rubber Limited CARE A1 CARE A1+ 107 FE India Limited CARE A3 CARE D 108 Firestar Diamond FZE CARE A2 CARE A3 109 Firestar Diamond FZE CARE A2 (SO) CARE A3 (SO) 110 Firestar Diamond FZE Provisional CARE A2 (SO) Provisional CARE A3 (SO) 111 Firestar Diamond International Private Limited CARE A2 (SO) CARE A3 (SO) 112 Firestar Diamond International Private Limited Provisional CARE A2 (SO) Provisional CARE A3 (SO) 113 Firestar International Private Limited CARE A2 (SO) CARE A3 (SO) 114 Firestar International Private Limited Provisional CARE A2 (SO) Provisional CARE A3 (SO) 115 Fountain Imports Private Limited CARE A4 CARE D 116 Future Supply Chain Solutions Limited CARE A3+ CARE A2 117 Ganga Acrowools Limited CARE A3+ CARE A2 118 Ganpati Infrapower Private Limited CARE A4 CARE A4+ 119 Gardex CARE A4+ CARE A3 120 Garware Polyester Limited CARE A3+ CARE A2 121 Gati Kausar India Limited Provisional CARE A2 (SO) CARE A2+ (SO) 122 Gayatri Bioorganics Limited CARE A4 CARE D 123 Gayatri Projects Limited CARE A4 CARE D 124 GCL Private Limited CARE A4 CARE D 125 Gemco Energy Limited CARE A4 CARE A4+

18 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 126 Gemini Consolidated Projects Private Limited CARE A4 (SO) CARE D 127 Gemini Equipment And Rentals Private Limited CARE A4+ CARE A4 128 Genus Innovation Limited CARE A3+ CARE A3 129 Gillanders Arbuthnot and Company Limited CARE A2+ CARE A3+ 130 GJS Infratech Private Limited CARE A4 CARE A3 131 Global Offshore Services Limited CARE A1+ CARE A2+ 132 Globe Cotyarn Private Limited CARE A4 CARE A4+ 133 Glochem Industries Limited CARE A4 CARE A3 134 GMR Gujarat Solar Power Private Limited CARE A3+ CARE A3 135 Godavari Drugs Limited CARE A4 CARE A4+ 136 Gopal Glass Works Limited CARE A2 CARE A2+ 137 Grauer & Weil (India) Limited CARE A1 CARE A1+ 138 Great Wall Corporate Services Private Limited CARE A4 CARE A4+ 139 Gripwell Tools Industries CARE A4 CARE A4+ 140 GSPC Pipavav Power Company Limited CARE A4 CARE A3 141 Gulmohar Traders CARE A4 CARE A4+ 142 GVK Power & Infrastructure Limited CARE A3+ CARE D 143 GVK Power & Infrastructure Limited CARE D CARE A4 144 GVK Power (Goindwal Sahib) Limited CARE A4 CARE D 145 GVK Projects & Technical Services Limited CARE A3 CARE A4+ 146 GVK Transportation Private Limited CARE A3+ (SO) CARE A4 (SO) 147 H. K. Designs India CARE A3+ CARE A2+ 148 Haldia Petrochemicals Limited CARE A3 CARE A3+ 149 Happy Forgings Limited CARE A4 CARE A4+ 150 HES Infra Private Limited CARE A3 CARE A3+ 151 Hetero Drugs Limited CARE A2+ CARE A1 152 Hetero Labs Limited CARE A1 CARE A1+ 153 High Energy Batteries India Limited CARE A4 CARE D 154 Himachal Futuristic Communications Limited CARE A3 CARE A2+ 155 Himadri Chemicals & Industries Limited CARE A1+ CARE A2+ 156 Hind Agro Industries Limited CARE A4 CARE D 157 Hind Industries Limited CARE A4 CARE D 158 Hindusthan National Glass and Industries Limited CARE A3 CARE A4 159 Idea Telesystems Limited CARE A1 CARE A1+ 160 Igarashi Motors India Limited CARE A1 CARE A1+ 161 IKF Finance Limited CARE A2 CARE A2+ 162 Ind-Barath Powergencom Limited CARE A4+ CARE D 163 Independent News Service Private Limited CARE A2 CARE A1 164 India Files Manufacturing Company CARE A4 CARE A4+ 165 Indian Cane Power Limited CARE A4+ CARE A4 166 Indobaijin Chemicals Private Limited CARE A2+ (SO) CARE A1 (SO) 167 Indofil Industries Limited CARE A2+ CARE A1 168 Indore Composite Private Limited CARE A4+ CARE A3 169 Infinite Water Solutions Private Limited CARE A3+ CARE A2 170 Integrated Fire Protection Private Limited CARE A4 CARE A4+ 171 International Conveyors Limited CARE A2+ CARE A2 172 Intex Technologies (India) Limited CARE A2+ CARE A1 173 Investment & Precision Castings Limited CARE A4+ CARE A3 174 ITZ Cash Card Limited CARE A4 CARE A4+ 175 J. B. Rolling Mills Limited CARE A3 CARE A4+ 176 J.M.L. Marketings Private Limited CARE A3 CARE A3+ 177 Jagat Agro Commodities Private Limited CARE A3 CARE D 178 Jalpa Diamond CARE A4 CARE A4+ 179 Janki Corp Limited CARE A4 CARE D 180 Jay Chemical Industries Limited CARE A2+ CARE A1+ 181 Jaypee Cement Coporation Limited CARE A4 CARE D 182 Jindal Steel And Power Limited CARE A1 CARE A2+ 183 Jindal Steel And Power Limited CARE A2+ CARE A3+ 184 Jindal Steel And Power Limited CARE A3+ CARE A4+ 185 Jindal Steel And Power Limited CARE A4+ CARE D 186 Jogvick Manufacturing & Trading Private Limited CARE A4+ CARE D 187 JPL Industries Limited CARE A4 CARE A4+ 188 JSIW Infrastructure Private Limited CARE A3+ CARE A2+ 189 JSW Projects Limited CARE A2+ CARE A1

19 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 190 Jupiter Laminators Private Limited CARE A3 CARE A3+ 191 Jyoti Limited CARE A4 CARE D 192 Kaizen Switchgear Products CARE A3 CARE A3+ 193 Kalthia Engineering and Construction Limited CARE A2 CARE A2+ 194 Kalthia Infra Private Limited CARE A2 (SO) CARE A2+ (SO) 195 Kankariya Textile Industries Private Limited CARE A3 CARE A3+ 196 Kanyaka Parameshwari Engineering Limited CARE A4+ CARE A3 197 Kapsons Industries Limited CARE A4 CARE D 198 Karnani Solvex Private Limited CARE A4 CARE A4+ 199 Khadim India Limited CARE A2+ CARE A2 200 Khyati Foods Private Limited CARE A4 CARE A4+ 201 Kkalpana Industries (India) Limited CARE A2 CARE A2+ 202 Krishna Tissues Private Limited CARE A3+ CARE A3 203 Krishnapatnam Port Company Limited CARE A3 CARE A1 204 Kriti Nutrients Limited CARE A3 CARE A3+ 205 KRYFS Power Components Limited CARE A2+ CARE A1 206 KSM Spinning Mills Limited CARE A4+ CARE D 207 Latin Manharlal Securities Private Limited CARE A4 CARE A4+ 208 Lava International Limited CARE A2+ CARE A1 209 Maa Tarini Industries Limited CARE A4 CARE D 210 Madan's Wine Stores Private Limited CARE A4 CARE D 211 Madhav (Phool Sagar Niwas Shahpura Corridor) Highways Private Limited CARE A3+ (SO) CARE A2+ 212 Madhav Alloys Private Limited CARE A3+ CARE A2 213 Madhav Infra Projects Limited CARE A3 CARE A3+ 214 Madhav Solar (Karnataka) Private Limited CARE A3+ (SO) CARE A2 (SO) 215 Madhusala Drinks Private Limited CARE A4+ CARE D 216 Mahavir Foods CARE A4 CARE D 217 Mahi Granites Private Limited CARE A4 CARE A3 218 Maithan Alloys Limited CARE A1 CARE A1+ 219 Maithan Ceramics Limited CARE A3 CARE A3+ 220 Manaksia Aluminium Company Limited CARE A1 CARE A2+ 221 Manaksia Coated Metals and Industries Limited CARE A1 CARE A2+ 222 Mangalam Drugs and Organics Limited CARE A4+ CARE A3 223 MBE Coal & Mineral Technology India Private Limited CARE A3 (SO) @ CARE A4+ (SO) 224 McNally Bharat Engineering Company Limited CARE A3+ @ CARE A4+ 225 McNally Sayaji Engineering Limited CARE A3 @ CARE A4 226 Mechvac Fabricators (I) Private Limited CARE A4 CARE A4+ 227 Meghalaya Cements Limited CARE A2+ CARE A1 228 Mercator Oil & Gas Limited CARE A1 (SO) CARE A2+ (SO) 229 Metro Global Limited CARE A3+ CARE A2 230 Mojj Engineering Systems Limited CARE A4 CARE A4+ 231 Moksha Thermoplastics Private Limited CARE A4+ CARE A3 232 Mukesh Strips Limited CARE A4 CARE D 233 Munnangi Sea Foods Private Limited CARE A4 CARE A4+ 234 Murlidhar Ratanlal Exports Limited CARE A3 CARE A4+ 235 MWV India Paperboard Packaging Private Limited CARE A1+ CARE A1 236 Nagarjuna Agrichem Limited CARE A3 CARE A3+ 237 Navinchandra Laxmichand Shah CARE A4 CARE A4+ 238 Nayaab Jewels CARE D CARE A4 239 Nexgen Laminators Private Limited CARE A4 CARE D 240 Nikita Jewellery Private Limited CARE A4 CARE A4+ 241 Nilkanth Chawal Mills Private Limited CARE A4 CARE D 242 Nilkanth Ferro Limited CARE A3 CARE A4+ 243 Nimbus Pipes Limited CARE D CARE A4 244 Nuziveedu Swathi Coastal Consortium CARE A4 CARE D 245 Oasis Tradelink Limited CARE A4 CARE A4+ 246 Oswal Extrusion Limited CARE A3 CARE A4 247 Oswal Spinning and Weaving Mills Limited CARE A4 CARE D 248 Oswal Woollen Mills Limited CARE A1 CARE A1+ 249 Overseas Polymers Private Limited CARE A2+ CARE A1 250 P. P. Rolling Mills Manufacturing Company Private Limited CARE A4 CARE A4+ 251 P.N. Gadgil and Sons CARE A3+ CARE A2+ 252 PAE Limited CARE A4 CARE D 253 Pallishree Limited CARE A3+ CARE A2

20 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 254 Palmar Mills Private Limited CARE A4 CARE A4+ 255 Panacea Biotec Limited CARE D CARE A4 256 Panchmahal Steel Limited CARE A3 CARE A4+ 257 Panyam Cements and Mineral Industries Limited CARE D CARE A4 258 Paramount Powders Private Limited CARE A4+ CARE A4 259 Parenteral Surgicals Limited CARE A4 CARE D 260 Partap Spintex Limited CARE A3 CARE A3+ 261 Passavant Energy and Environment India Private Limited CARE A1 (SO) CARE A3+ (SO) 262 Patanjali Ayurved Limited CARE A3+ CARE A1 263 Patels Airtemp (India) Limited CARE A2 CARE A2+ 264 Pavathal Spinning Mills Private Limited CARE A4 CARE A4+ 265 Phoenix Impex Private Limited CARE A4+ CARE A4 266 Phoenix Projects Private Limited CARE A4+ CARE A3 267 Pinnacle Industries Limited CARE A3 CARE A3+ 268 Plastene India Limited CARE A3 CARE A4 269 PNC Infratech Limited CARE A1 CARE A1+ 270 PNG Jewellery & Gems CARE A3 CARE A3+ 271 Poscho Steel Private Limited CARE A4+ CARE A4 272 Pratibha Industries Limited CARE A3+ CARE A3 273 Pratik Transformers Private Limited Provisional CARE A2+ (SO) CARE A1 (SO) 274 Precision Camshafts Limited CARE A3+ CARE A2 275 Precot Meridian Limited CARE A3 CARE A4+ 276 Prem Motors Private Limited CARE A3 CARE A3+ 277 Premier Limited CARE A4 CARE D 278 Provogue (India) Limited CARE A3 CARE D 279 Punjab Lighting Industries Limited CARE A4 CARE D 280 Purbanchal Cement Limited CARE A3+ CARE A2 281 Quippo Energy Limited CARE A1 (SO) CARE A2+ (SO) 282 R R Stones Private Limited CARE A4+ CARE A4 283 R. E. Cables and Conductors Private Limited CARE A3 CARE A3+ 284 Radheyshyam Agrawal CARE A4 CARE A3 285 Radico NV Distilleries Maharashtra Limited CARE A3+ CARE A1 286 Rainbow Papers Limited CARE A3+ CARE A4+ 287 Raj West Power Limited CARE A2+ CARE A1 288 Rajgad Sahakari Sakhar Karkhana Limited CARE A4+ CARE A4 289 Rama Handicrafts CARE D CARE A4 290 Ranjit Buildcon Limited CARE A1 CARE A1+ 291 Rashmi Cement Limited CARE A3+ CARE A2 292 Rashmi Metaliks Limited CARE A2 CARE A2+ 293 Raunaq Ice and Cold Storage CARE A4 CARE A4+ 294 Rayana Paper Board Industries Limited CARE A3 CARE A3+ 295 RCL Paper and Packagings Limited CARE A4 CARE D 296 Real Strips Limited CARE A3 CARE A4 297 Redstone Granito Private Limited CARE A4 CARE A4+ 298 Renew Power Ventures Private Limited CARE A1 CARE A1+ 299 Roger Industries Limited CARE A3 CARE A3+ 300 S.E. Power Limited CARE A3 CARE A4 301 S.K.P. Bearing Industries CARE A4 CARE A3 302 Sahaj e-Village Limited CARE A1 (SO) CARE A2+ (SO) 303 Sahdev Jewellers CARE A4 CARE D 304 Sai Wardha Power Limited CARE A3 CARE A4+ 305 Saket Education Society CARE A3+ CARE A2 306 Sami Labs Limited CARE A3+ CARE A2 307 Sanwaria Agro Oils Limited CARE A3+ CARE A3 308 Sarda Energy & Minerals Limited CARE A1+ @ CARE A1 309 Sarda Metal & Alloys Limited CARE A3+ CARE A4+ 310 Sarvesh Agencies Private Limited CARE A4 CARE D 311 Satsangi Traders Private Limited CARE A4 CARE A4+ 312 Satya Deeptha Pharmaceuticals Limited CARE A4+ CARE A3 313 SBW Udyog Limited CARE A3 CARE A3+ 314 Scan Steels Limited CARE A4 CARE D 315 Scholar International Educational Foundation CARE A4 CARE D 316 SE Forge Limited CARE D CARE A3 317 Secure Energy Services Limited CARE A1 (SO) CARE A1+ (SO)

21 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 318 Secure Meters Limited CARE A1 CARE A1+ 319 Senthil Papers and Boards Private Limited CARE A4+ CARE D 320 Seya Industries Limited CARE A3+ CARE A2 321 Shalimar Paints Limited CARE A3+ CARE A3 322 Shendra Green Energy Limited CARE A2 (SO) CARE A1 (SO) 323 Shirdi Sai Electricals Limited CARE A2 CARE A2+ 324 Shiv Shipping Services CARE A4 CARE A4+ 325 Shiva Cement Limited CARE A3 CARE A4 326 Shivalay Ispat & Power Private Limited CARE A2 (SO) CARE A2+ (SO) 327 Shivalaya Construction Company Private Limited CARE A3 CARE A3+ 328 Shivani Scientific Industries Private Limited CARE A4 CARE A4+ 329 Shree Bhimeshwari Ispat Private Limited CARE A4 CARE D 330 Shree Shubham Logistics Limited CARE A2 CARE A3+ 331 Shri Dhanalakshmi Spinntex Private Limited CARE A4 CARE A4+ 332 Shri Mahavir Ferro Alloys Private Limited CARE A4 CARE D 333 Siddhartha Engineering Limited CARE A4+ CARE A3 334 Sidhi Vinayak Rice Mills CARE A4 CARE D 335 Signet Industries Limited CARE A3 CARE A3+ 336 Simplex Engineering & Foundry Works Private Limited CARE A2 CARE A3 337 Sirius Infra Projects Private Limited CARE A4+ CARE D 338 Sky Cotex India Private Limited CARE A4+ CARE A3 339 SMS Limited CARE A3 CARE A3+ 340 SMS Limited CARE A3+ CARE A2 341 Smt. Nanadamuri Basava Taraka Rama Rao Memorial Cancer Foundation & Research Centre CARE A4+ CARE A3 342 Soktas India Private Limited CARE A4+ CARE A3 343 SPC Chetak Tollways Private Limited CARE A2+ (SO) CARE A1+ (SO) 344 Spectrum Johnson Tiles Private Limited CARE A3 CARE A3+ 345 Sri Sai Constructions CARE A4 CARE A4+ 346 Stanadyne Amalgamations Private Limited CARE A2+ CARE A2 347 Steel Konnect India Private Limited CARE A4+ CARE A3 348 Strata Geosystems India Private Limited CARE A3+ CARE A2+ 349 Surjeet Auto Private Limited CARE A4 CARE A4+ 350 Suruchi Foods Private Limited CARE A4 CARE A4+ 351 Surya Global Steel Tubes Limited CARE A3 CARE A3+ 352 Suryajyoti Spinning Mills Limited CARE A4 CARE D 353 Swathy Smart Cards Hi-Tech Private Limited CARE A4 CARE D 354 T&T Projects Limited CARE A3 CARE A3+ 355 Tara Jewels Limited CARE A2 CARE A4 356 Tarachand International Private Limited CARE A4 CARE D 357 Tata Blue Scope Steel Limited CARE A2 CARE A1 358 Tesla Transformers Limited CARE A3+ CARE A2 359 The India Cements Limited CARE A2+ CARE A2 360 The Mobile Store Services Limited CARE A4 CARE D 361 The Mobile Store Services Limited CARE D CARE A4 362 The Ruby Mills Limited CARE A4 CARE D 363 The State Trading Corporation of India CARE A4 CARE A4+ 364 The West Coast Paper Mills Limited CARE A3 @ CARE A3+ 365 Theis Precision Steel India Private Limited CARE A2 CARE A3+ 366 Thirumalai Chemicals Limited CARE A3 CARE A3+ 367 TIL Limited CARE A2+ CARE A3+ 368 TIM Delhi Airport Advertising Private Limited CARE A1 CARE A1+ 369 TRF Limited CARE A1+ CARE A2+ 370 Tritan Leather Works Private Limited CARE A3 CARE A4 371 Tropical Agrosystem (India) Private Limited CARE A3 CARE A3+ 372 Truba Advance Sciences Kombine CARE A4 CARE D 373 Turtle Limited CARE A3 CARE A3+ 374 TVS Novotema Elastomeric Engineered Products Private Limited CARE A3+ CARE A2 375 UIC Udyog Limited CARE A4 CARE D 376 UM Cables Limited CARE A2+ CARE A2 377 Umalaxmi Organics Private Limited CARE A3 CARE A3+ 378 Unique Green Energy Technologies Private Limited CARE A2 (SO) CARE A2+ (SO) 379 United Chloro Parafins Private Limited CARE A4+ CARE A4 380 Usha Martin Limited CARE A1 CARE A3+ 381 Usher Agro Limited CARE A3+ CARE D

22 Sr.No. Name of the Issuer Rating prior to revision Rating post revision 382 Uttam Value Steels Limited CARE A3 (SO) CARE A4+ 383 Uttara Foods and Feeds Private Limited CARE A2+ (SO) CARE D 384 Uttara Impex Private Limited CARE A2+ (SO) CARE A3+ (SO) 385 Vanaik Spinning Mills Limited CARE A2+ (SO) CARE A1 (SO) 386 Vanaik Spinning Mills Limited CARE A1 (SO) CARE A1+ (SO) 387 Vardhaman Technology Private Limited CARE A4 CARE A4+ 388 Vasavi Power Services Private Limited CARE A4 CARE D 389 Vasishta Constructions Private Limited CARE D CARE A4 390 Venkateshwara Hatcheries Private Limited CARE A2+ CARE A3+ 391 Venky's India Limited CARE A2+ CARE A3+ 392 Vennar Ceramics Limited CARE A3+ (SO) CARE A2 (SO) 393 Vesta Equipment Private Limited CARE A4 CARE D 394 Vijay Tanks and Vessels Private Limited CARE A1 CARE A1+ 395 Vikram Solar Private Limited CARE A2 CARE A2+ 396 Virtuous Urja Limited CARE A2+ (SO) CARE A1 (SO) 397 Vishwa Infrastructures and Services Private Limited CARE A4 CARE D 398 Vivimed Labs Limited CARE A4+ CARE A3 399 VSP Udyog Private Limited CARE A3 CARE A4+ 400 WAA Solar Private Limited CARE A3+ CARE A2 401 Walchandnagar Industries Limited CARE A2 CARE A3 402 Wellknown Polysters Limited CARE A2+ CARE A1 403 Welmade Locking Systems Private Limited CARE A3+ CARE A2+ 404 Welspun Captive Power Generation Limited CARE A3+ CARE A2+ 405 Welspun Energy Private Limited CARE A1 CARE A1+ 406 Win-Stone Industries (India) Private Limited CARE D CARE A4 407 Wintry Engineering and Chemicals Private Limited CARE A4 CARE A4+ 408 Zonac Knitting Machines Private Limited CARE A3 CARE A3+

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