While Crisil rated Goldenland Development India, Timberworld Resorts and Plantation India and Swarnbhumi Plantations, ICRA has assigned CS(5) rating for Hariyali Plantations. All the ratings reflect adverse risk profile.

The collective investment schemes from Goldenland Development (I) Ltd and from Timberworld Resorts & Plantations (I) Ltd have been assigned 'Grade V' rating by Crisil.

The rating indicates high uncertainty that the collective investment schemes will provide the assured returns in the form of produce and/or cash, says a Crisil release.

Apart from the collective investment scheme, Timberworld also has four other plantation schemes, namely Teak Plantation, Poplar Plantation, Orange Plantation and Teak Farm schemes. All of these have also been assigned the 'Grade V' rarting by the rating agency.

According to Crisil, Golden Development is totally depending on investor funds to meet its sizeable repayment obligations in the short to medium term, low agricultural base, high dependence on the success of its amla project to meet its liabilities in medium to long-term, and high financial risk on account of skewed capital structure and low cash flows inflows.

The rating also factors in uncertainties associated with the quality and quantity of agricultural produce and their inherent vulnerability to climatic conditions and vagaries of nature.