CARE Ratings has also reaffirmed Credit Rating to CARE A1+(CE) for Rs. 100 crore (reduced from Rs. 250 crore on Company's request) Commercial Paper Program of Surya Roshni on the credit enhancement in the form of stand by letter of Credit (SBLC) issued by its bankers.

The aforesaid ratings are based on the audited financials for the year ended 31 March, 2019 and unaudited financials for the first Quarter of the financial year 2019-20 and also taking cognizance of the commencement of production of 3LPE coating plant at Anjar, Gujarat and benefits of overall synergy, experienced management and greater integration.