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Date	Entity Name			Rating Action
6th Mar 25	INCHEM LABORATORIES PRIVATE LIMITED			Instrument & Lender Details INCHEM LABORATORIES PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 5 + 2 = I am not a robot
	Letter of Credit	Short-term	INR 3 Cr	ACUITE A3
	Term Loan	Long-term	INR 1.49 Cr	ACUITE BBB- Stable
	Term Loan	Long-term	INR 0.26 Cr	ACUITE BBB- Stable
	Cash Credit	Long-term	INR 16.75 Cr	ACUITE BBB- Stable
	Term Loan	Long-term	INR 12.5 Cr	ACUITE BBB- Stable
6th Mar 25	REFLEXIONS NARAYANI IMPEX PRIVATE LIMITED			Instrument & Lender Details REFLEXIONS NARAYANI IMPEX PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 6 + 2 = I am not a robot
	PC/PCFC	Short-term	INR 3 Cr	ACUITE A4+
	FBN/FBP/FBD/PSFC/FBE	Short-term	INR 2 Cr	ACUITE A4+
	Proposed Long Term Bank Facility	Long-term	INR 12.83 Cr	ACUITE BB-
6th Mar 25	EASTMAN AUTO AND POWER LIMITED			Instrument & Lender Details EASTMAN AUTO AND POWER LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 1 + 6 = I am not a robot
	Bank Guarantee (BLR)	Short-term	INR 10 Cr	ACUITE A1+
	Letter of Credit	Short-term	INR 10 Cr	ACUITE A1+
	Stand By Line of Credit	Short-term	INR 20 Cr	ACUITE A1+
	Stand By Line of Credit	Short-term	INR 30 Cr	ACUITE A1+
	Cash Credit	Long-term	INR 50 Cr	ACUITE AA- Stable
	Cash Credit	Long-term	INR 50 Cr	ACUITE AA- Stable
	Working Capital Demand Loan (WCDL)	Long-term	INR 5.57 Cr	ACUITE AA- Stable
	Cash Credit	Long-term	INR 49.2 Cr	ACUITE AA- Stable
	Cash Credit	Long-term	INR 5.8 Cr	ACUITE AA- Stable
	Cash Credit	Long-term	INR 60 Cr	ACUITE AA- Stable
	Cash Credit	Long-term	INR 100 Cr	ACUITE AA- Stable
	Cash Credit	Long-term	INR 50 Cr	ACUITE AA- Stable
	Cash Credit	Long-term	INR 100 Cr	ACUITE AA- Stable
	Cash Credit	Long-term	INR 48 Cr	ACUITE AA- Stable
	Working Capital Term Loan	Long-term	INR 15.03 Cr	ACUITE AA- Stable
	Term Loan	Long-term	INR 6.69 Cr	ACUITE AA- Stable
	Cash Credit	Long-term	INR 40 Cr	ACUITE AA- Stable
	Term Loan	Long-term	INR 54.08 Cr	ACUITE AA- Stable
	Cash Credit	Long-term	INR 67 Cr	ACUITE AA- Stable
	Working Capital Demand Loan (WCDL)	Long-term	INR 1.27 Cr	ACUITE AA- Stable
	Working Capital Demand Loan (WCDL)	Long-term	INR 28.71 Cr	ACUITE AA- Stable
	Cash Credit	Long-term	INR 70 Cr	ACUITE AA- Stable
	Term Loan	Long-term	INR 40 Cr	ACUITE AA- Stable
	Cash Credit	Long-term	INR 75 Cr	ACUITE AA- Stable
	Term Loan	Long-term	INR 40 Cr	ACUITE AA- Stable
	Covid Emergency Line.	Long-term	INR 1.08 Cr	ACUITE AA- Stable
	Cash Credit	Long-term	INR 85 Cr	ACUITE AA- Stable
6th Mar 25	RENE IMPEX PRIVATE LIMITED			Instrument & Lender Details RENE IMPEX PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 9 + 9 = I am not a robot
	Cash Credit	Long-term	INR 3 Cr	ACUITE BB-
	Proposed Long Term Bank Facility	Long-term	INR 7 Cr	ACUITE BB-
6th Mar 25	RUNGTA IRRIGATION LIMITED			Instrument & Lender Details RUNGTA IRRIGATION LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 1 + 1 = I am not a robot
	Buyers Credit	Short-term	INR 5 Cr	ACUITE A4+
	Cash Credit	Long-term	INR 10 Cr	ACUITE BB+ Stable
	Term Loan	Long-term	INR 0.14 Cr	ACUITE BB+ Stable
	Term Loan	Long-term	INR 1.46 Cr	ACUITE BB+ Stable
5th Mar 25	ABHAY SOLVENTS PRIVATE LIMITED			Instrument & Lender Details ABHAY SOLVENTS PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 3 + 2 = I am not a robot
	Cash Credit	Long-term	INR 37.5 Cr	ACUITE BB-
	Term Loan	Long-term	INR 15.7 Cr	ACUITE BB-
	Covid Emergency Line.	Long-term	INR 0.5 Cr	ACUITE BB-
	Proposed Long Term Bank Facility	Long-term	INR 6.3 Cr	ACUITE BB-
5th Mar 25	SPR CONSTRUCTIONS			Instrument & Lender Details SPR CONSTRUCTIONS To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 8 + 8 = I am not a robot
	Bank Guarantee (BLR)	Short-term	INR 20 Cr	ACUITE Not Applicable
	Proposed Short Term Loan	Short-term	INR 6 Cr	ACUITE Not Applicable
	Cash Credit	Long-term	INR 4 Cr	ACUITE Not Applicable
5th Mar 25	ELIXIR MET FORM PRIVATE LIMITED			Instrument & Lender Details ELIXIR MET FORM PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 6 + 1 = I am not a robot
	Letter of Credit	Short-term	INR 3 Cr	ACUITE A4
	Bank Guarantee/Letter of Guarantee	Short-term	INR 3.5 Cr	ACUITE A4
	Cash Credit	Long-term	INR 14.5 Cr	ACUITE B+
	Proposed Long Term Loan	Long-term	INR 4 Cr	ACUITE B+
5th Mar 25	HIM URJA PRIVATE LIMITED			Instrument & Lender Details HIM URJA PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 7 + 2 = I am not a robot
	Term Loan	Long-term	INR 12.5 Cr	ACUITE BB
5th Mar 25	KSR INFRACON PRIVATE LIMITED			Instrument & Lender Details KSR INFRACON PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 7 + 8 = I am not a robot
	Proposed Short Term Bank Facility	Short-term	INR 12.5 Cr	ACUITE A4+
	Bank Guarantee/Letter of Guarantee	Short-term	INR 35 Cr	ACUITE A4+
	Proposed Short Term Bank Facility	Short-term	INR 37.75 Cr	ACUITE A4+
	Cash Credit	Long-term	INR 7.5 Cr	ACUITE BB
	Working Capital Term Loan	Long-term	INR 2.25 Cr	ACUITE BB
5th Mar 25	SAUMYA CONSTRUCTION			Instrument & Lender Details SAUMYA CONSTRUCTION To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 7 + 4 = I am not a robot
	Bank Guarantee (BLR)	Short-term	INR 42 Cr	ACUITE A4
	Cash Credit	Long-term	INR 8 Cr	ACUITE B-
5th Mar 25	VISHWASRAO NAIK SAHAKARI SAKHAR KARKHANA LIMITED			Instrument & Lender Details VISHWASRAO NAIK SAHAKARI SAKHAR KARKHANA LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 7 + 6 = I am not a robot
	Working Capital Term Loan	Long-term	INR 7.5 Cr	ACUITE B+
5th Mar 25	ASHOK KUMAR MITTAL			Instrument & Lender Details ASHOK KUMAR MITTAL To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 4 + 8 = I am not a robot
	Bank Guarantee/Letter of Guarantee	Short-term	INR 9 Cr	ACUITE A4+
	Letter of Credit	Short-term	INR 2 Cr	ACUITE A4+
	Bank Guarantee (BLR)	Short-term	INR 12 Cr	ACUITE A4+
	Cash Credit	Long-term	INR 2.5 Cr	ACUITE BB-
5th Mar 25	AKARSHAK REALTY PRIVATE LIMITED			Instrument & Lender Details AKARSHAK REALTY PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 1 + 8 = I am not a robot
	Term Loan	Long-term	INR 80 Cr	ACUITE BBB- Stable
	Term Loan	Long-term	INR 50 Cr	ACUITE BBB- Stable
5th Mar 25	INDOLINE INDUSTRIES PRIVATE LIMITED			Instrument & Lender Details INDOLINE INDUSTRIES PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 1 + 6 = I am not a robot
	Letter of Credit	Short-term	INR 11 Cr	ACUITE A4
	Bank Guarantee (BLR)	Short-term	INR 0.5 Cr	ACUITE A4
	Working Capital Term Loan	Long-term	INR 0.58 Cr	ACUITE B Stable
	Working Capital Term Loan	Long-term	INR 0.37 Cr	ACUITE B Stable
	Working Capital Demand Loan (WCDL)	Long-term	INR 0.46 Cr	ACUITE B Stable
	Cash Credit	Long-term	INR 7 Cr	ACUITE B Stable
	Proposed Long Term Bank Facility	Long-term	INR 5.09 Cr	ACUITE B Stable
5th Mar 25	SHRADDHA ENERGY AND INFRAPROJECTS PRIVATE LIMITED			Instrument & Lender Details SHRADDHA ENERGY AND INFRAPROJECTS PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 9 + 1 = I am not a robot
	Term Loan	Long-term	INR 5.12 Cr	ACUITE BBB Stable
	Term Loan	Long-term	INR 8.48 Cr	ACUITE BBB Stable
	Term Loan	Long-term	INR 14.99 Cr	ACUITE BBB Stable
	Term Loan	Long-term	INR 6.33 Cr	ACUITE BBB Stable
	Term Loan	Long-term	INR 2.91 Cr	ACUITE BBB Stable
	Term Loan	Long-term	INR 7.22 Cr	ACUITE BBB Stable
	Term Loan	Long-term	INR 2.72 Cr	ACUITE BBB Stable
	Secured Overdraft	Long-term	INR 30 Cr	ACUITE BBB Stable
	Secured Overdraft	Long-term	INR 10 Cr	ACUITE BBB Stable
	Term Loan	Long-term	INR 60 Cr	ACUITE BBB Stable
	Term Loan	Long-term	INR 45 Cr	ACUITE BBB Stable
	Term Loan	Long-term	INR 56 Cr	ACUITE BBB Stable
	Cash Credit	Long-term	INR 40 Cr	ACUITE BBB Stable
	Cash Credit	Long-term	INR 23 Cr	ACUITE BBB Stable
	Proposed Long Term Bank Facility	Long-term	INR 3.23 Cr	ACUITE BBB Stable
5th Mar 25	SUN PHARMA ADVANCED RESEARCH COMPANY LIMITED			Instrument & Lender Details SUN PHARMA ADVANCED RESEARCH COMPANY LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 1 + 9 = I am not a robot
	Working Capital Demand Loan (WCDL)	Long-term	INR 150 Cr	ACUITE AA- Stable
	Secured Overdraft	Long-term	INR 25 Cr	ACUITE AA- Stable
	Proposed Long Term Bank Facility	Long-term	INR 25 Cr	ACUITE AA- Stable
5th Mar 25	SHRESHTA INFRA PROJECTS PRIVATE LIMITED			Instrument & Lender Details SHRESHTA INFRA PROJECTS PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 6 + 5 = I am not a robot
	Non-Covertible Debentures (NCD)	Long-term	INR 68 Cr	ACUITE BBB- Stable
	Term Loan	Long-term	INR 186.5 Cr	ACUITE BBB- Stable
	Secured Overdraft	Long-term	INR 15 Cr	ACUITE BBB- Stable
5th Mar 25	STERLING GREEN POWER SOLUTIONS PRIVATE LIMITED (ERSTWHILE STERLING GENERATORS PRIVATE LIMITED)			Instrument & Lender Details STERLING GREEN POWER SOLUTIONS PRIVATE LIMITED (ERSTWHILE STERLING GENERATORS PRIVATE LIMITED) To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 4 + 7 = I am not a robot
	Bank Guarantee (BLR)	Short-term	INR 125 Cr	ACUITE A3+
	Letter of Credit	Short-term	INR 32.65 Cr	ACUITE A3+
	Bank Guarantee (BLR)	Short-term	INR 40 Cr	ACUITE A3+
	Bank Guarantee (BLR)	Short-term	INR 14.95 Cr	ACUITE A3+
	Proposed Short Term Bank Facility	Short-term	INR 26.98 Cr	ACUITE A3+
	Proposed Short Term Bank Facility	Short-term	INR 57 Cr	ACUITE A3+
	Cash Credit	Long-term	INR 75 Cr	ACUITE BBB Stable
	Cash Credit	Long-term	INR 5 Cr	ACUITE BBB Stable
	Cash Credit	Long-term	INR 20 Cr	ACUITE BBB Stable
	Term Loan	Long-term	INR 7.9 Cr	ACUITE BBB Stable
	Term Loan	Long-term	INR 0.6 Cr	ACUITE BBB Stable
	Proposed Long Term Bank Facility	Long-term	INR 20 Cr	ACUITE BBB Stable
5th Mar 25	ANANYA FINANCE FOR INCLUSIVE GROWTH PRIVATE LIMITED			Instrument & Lender Details ANANYA FINANCE FOR INCLUSIVE GROWTH PRIVATE LIMITED To: CC: Note: By clicking on send button you shall be sharing a copy of rating release on the mentioned Email IDs. Captcha 3 + 7 = I am not a robot
	Proposed Long Term Bank Facility	Long-term	INR 87.89 Cr	ACUITE BBB- Stable
	Secured Overdraft	Long-term	INR 1 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 20 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 17 Cr	ACUITE BBB- Stable
	Proposed Non Convertible Debentures	Long-term	INR 0.28 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 54 Cr	ACUITE BBB- Stable
	Term Loan	Long-term	INR 9 Cr	ACUITE BBB- Stable
	Term Loan	Long-term	INR 5.32 Cr	ACUITE BBB- Stable
	Secured Overdraft	Long-term	INR 1 Cr	ACUITE BBB- Stable
	Secured Overdraft	Long-term	INR 1 Cr	ACUITE BBB- Stable
	Term Loan	Long-term	INR 7.58 Cr	ACUITE BBB- Stable
	Term Loan	Long-term	INR 9.3 Cr	ACUITE BBB- Stable
	Term Loan	Long-term	INR 27.67 Cr	ACUITE BBB- Stable
	Non-Covertible Debentures (NCD)	Long-term	INR 12.72 Cr	ACUITE BBB- Stable
	Term Loan	Long-term	INR 11.67 Cr	ACUITE BBB- Stable
	Term Loan	Long-term	INR 25 Cr	ACUITE BBB- Stable
	Proposed Non Convertible Debentures	Long-term	INR 30 Cr	ACUITE BBB- Stable