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Rating Rationales


Date Organization Description
08 December 2025Premprakash Tubes Ltd. Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Usha Constructions Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Shree Krishna Abodes Pvt Ltd Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
05 December 2025Ascan Plyboard (India) Pvt. Ltd (erstwhile Prakash Ply Exim Pvt. Ltd.) Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Sysnet Global Technologies Pvt. Ltd. Issuer did not cooperate; Based on best available information; Short Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Indian Hospitals Corporation Ltd. Non Convertible Debentures Rating Withdrawn;
Surya Industries Issuer did not cooperate; Based on best available information; Rating moved to Not Reviewed Advisory;
BVR Malls Pvt. Ltd. Long Term Rating Withdrawn;
United Rubber Industries (I) Pvt. Ltd. Issuer did not cooperate; Based on best available information; Outstanding Ratings are Reaffirmed and Withdrawn;
Baba Bhuman Shah Ji Industries Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
New Media Broadcasting Pvt Ltd Issuer did not cooperate; Based on best available information; Non Convertible Debentures Rating Reaffirmed;
Radhe Agro Industries India Pvt. Ltd Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Siva Mills Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Ashoka Kraft Paper Mills LLP Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Al Jalil Exports Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
SJ Transformers Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Chintpurni Steel Pvt. Ltd. Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Norex Flavours Pvt Ltd Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Lazuline Biotech Private Limited Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Car Cure Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Blue Ocean Marine Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
OOM Exports Issuer did not cooperate; Based on best available information; Short Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed; Long Term Rating Continues to be in ISSUER NOT COOPERATING* category/Downgraded to BWR B;
Genesis Finance Company Ltd. Issuer did not cooperate; Based on best available information; Long Term Rating Continues to be in ISSUER NOT COOPERATING* category/Downgraded to BWR B;
Shine Cot-Spin Pvt. Ltd. Issuer did not cooperate; Based on best available information; Long Term Rating Continues to be in ISSUER NOT COOPERATING* category/Downgraded to BWR B; Short Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
SKYZ Stones Pvt. Ltd. Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Marsons Ltd. Long Term Rating BWR BBB +/Stable Assigned; Short Term Rating BWR A2 Assigned;
Pashchim Maharashtra Textiles Pvt. Ltd. Long Term Rating BWR BB/Stable Assigned; Short Term Rating BWR A4 Assigned;
Essen Infratech LLP Long Term Rating BWR BB +/Stable Assigned;
MFAR Constructions Pvt. Ltd. Ratings Reaffirmed;
04 December 2025Sneha Engineering Equipment Pvt. Ltd. Issuer did not cooperate; Based on best available information; Rating moved to Not Reviewed Advisory;
Rudra Steel Rolling Mill Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Mark Alloys Pvt. Ltd. Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Sree Venkateswara Road Constructions Pvt. Ltd. Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Shree Ram Construction Company Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Siddheshwar Industries Pvt Ltd Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Baijnath Charitable and Educational Trust Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Madhav Industries Issuer did not cooperate; Based on best available information; Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Barath Building Construction (India) Pvt Ltd Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
Vamshi Rubber Ltd Issuer did not cooperate; Based on best available information; Rating moved to Not Reviewed Advisory;
Tota Utpannagala Marata Sahakara Sangha N Issuer did not cooperate; Based on best available information; Long Term Continues to be in ISSUER NOT COOPERATING* category/Reaffirmed;
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