Balkrishna Industries Ltd. — Capital/Financing Update 2024

Nov 28, 2024

==> picture [105 x 48] intentionally omitted <==

BIL/SE/2024-25

To, BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai – 400 001

28[th] November, 2024

National Stock Exchange of India Ltd

5[th] Floor, Exchange Plaza Bandra Kurla Complex Bandra (E), Mumbai 400 051

Scrip Code: 502355 (Equity) Trading Symbol: BALKRISIND Scrip Code : 973556 (Debt)

Dear Sir/Madam,

Sub : Upgradation of Credit Ratings as per Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,

please note that CRISIL Ratings Limited vide its Letter dated 28[th] November, 2024 has upgraded the

credit ratings on Bank facilities of the Company as mentioned below ;

Total Bank Loan Facilities Rated	Rs. 1000 Crores
Long Term Rating	CRISIL AA+/Stable (Upgraded from ‘CRISIL AA/Positive’)
Short Term Rating	CRISIL A1+ (Reaffirmed)

The above information will also be available on the website of the Company at www.bkt-tires.com.

This is for your information and record please.

Thanking you,

Yours faithfully,

For Balkrishna Industries Limited

Digitally signed by VIPUL SHAH DN: c=IN, o=PERSONAL, pseudonym=ab8ae307b7f34c00904663cfce2d2c8d, 2.5.4.20=94575b1752da3dfc1c3016d0dbd44859cfbfdabea78c5605642b02928a69673a, postalCode=400067, st=Maharashtra, serialNumber=884301b47303ff23c9ea8c4f629be969f0944656ba3e637ee1dadae881eaa8a2, cn=VIPUL SHAH Date: 2024.11.28 17:03:08 +05'30'

VIPUL SHAH 2.5.4.20=94575b1752da3dfc1c3016d0dbd44859cfbfdabea78c5605642b02928a69673a, postalCode=400067, st=Maharashtra, serialNumber=884301b47303ff23c9ea8c4f629be969f0944656ba3e637ee1dadae881eaa8a2, cn=VIPUL SHAH Date: 2024.11.28 17:03:08 +05'30'ea78c5605642b02928a69673a, postalCode=400067, st=Maharashtra, serialNumber=884301b47303ff23c9ea8c4f629be969f0944656ba3e637ee1dadae881eaa8a2, cn=VIPUL SHAH Date: 2024.11.28 17:03:08 +05'30'st=Maharashtra, serialNumber=884301b47303ff23c9ea8c4f629be969f0944656ba3e637ee1dadae881eaa8a2, cn=VIPUL SHAH Date: 2024.11.28 17:03:08 +05'30'serialNumber=884301b47303ff23c9ea8c4f629be969f0944656ba3e637ee1dadae881eaa8a2, cn=VIPUL SHAH Date: 2024.11.28 17:03:08 +05'30'44656ba3e637ee1dadae881eaa8a2, cn=VIPUL SHAH Date: 2024.11.28 17:03:08 +05'30'Date: 2024.11.28 17:03:08 +05'30' Vipul Shah Director & Company Secretary And Compliance Officer DIN: 05199526

Encl: a/a

==> picture [21 x 11] intentionally omitted <==

==> picture [582 x 12] intentionally omitted <==

Balkrishna Industries Ltd. CIN No.: L99999MH1961PLC012185

Corporate Office : BKT House, C / 15, Trade World, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013, India. Tel: +91 22 6666 3800 Fax: +91 22 6666 3898/99 www.bkt-tires.com Registered Office: B-66, Waluj MIDC, Waluj Industrial Area, Chhatrapati Sambhaji Nagar– 431 136, Maharashtra, India

CONFIDENTIAL

==> picture [556 x 41] intentionally omitted <==

RL/BALKRIS/357474/BLR/1124/103392 November 28, 2024

Mr. Ravinarayan Joshi

Deputy Chief Financial Officer Balkrishna Industries Limited

BKT House, C/15, Trade World, Kamala Mills Compund, Senapati Bapat Marg, Lower Parel, Mumbai City - 400013

==> picture [114 x 114] intentionally omitted <==

Dear Mr. Ravinarayan Joshi,

Re: Review of CRISIL Ratings on the bank facilities of Balkrishna Industries Limited

All ratings assigned by CRISIL Ratings are kept under continuous surveillance and review.

Please find in the table below the ratings outstanding for the debt instruments/facilities of the company, and the rating actions by CRISIL Ratings on the ratings as on date.

Total Bank Loan Facilities Rated	Rs.1000Crore
Long Term Rating	CRISIL AA+/Stable(Upgraded from 'CRISIL AA/Positive')
Short Term Rating	CRISIL A1+(Reaffirmed)

(Bank-wise details as per Annexure 1)

As per our Rating Agreement, CRISIL Ratings would disseminate the ratings, along with the outlook, through its publications and other media, and keep the ratings, along with the outlook, under surveillance over the life of the instrument/facility. CRISIL Ratings reserves the right to withdraw, or revise the ratings, along with the outlook, at any time, on the basis of new information, or unavailability of information, or other circumstances which CRISIL Ratings believes may have an impact on the ratings. Please visit www.crisilratings.com and search with the name of the rated entity to access the latest rating/s.

In the event of the company not availing the proposed facilities within a period of 180 days from the date of this letter, a fresh letter of revalidation from CRISIL Ratings will be necessary.

Should you require any clarification, please feel free to get in touch with us.

With warm regards,

Yours sincerely,

==> picture [81 x 31] intentionally omitted <==

Joanne Annie Gonsalves Associate Director - CRISIL Ratings

==> picture [49 x 50] intentionally omitted <==

==> picture [81 x 31] intentionally omitted <==

Nivedita Shibu

Director - CRISIL Ratings

Disclaimer : A rating by CRISIL Ratings reflects CRISIL Ratings’ current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by CRISIL Ratings. Our ratings are based on information provided by the issuer or obtained by CRISIL Ratings from sources it considers reliable. CRISIL Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by CRISIL Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. CRISIL Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. CRISIL Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. CRISIL Ratings’ criteria are available without charge to the public on the web site, www.crisilratings.com . CRISIL Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by CRISIL Ratings, please visit www.crisilratings.com or contact Customer Service Helpdesk at CRISILratingdesk@crisil.com or at 1800-267-1301

==> picture [539 x 43] intentionally omitted <==

==> picture [556 x 41] intentionally omitted <==

Annexure 1 - Bank-wise details of various facility classes (outstanding facilities)

S.No.	Bank Facility	Bank	Amount (Rs. inCrore)	Outstanding Rating
1	Cash Credit	ICICI Bank Limited	20	CRISIL AA+/Stable
2	Letter of credit & Bank Guarantee	The Hongkong and Shanghai BankingCorporation Limited	25	CRISIL A1+
3	Letter of credit & Bank Guarantee	Standard Chartered Bank	60	CRISIL A1+
4	Letter of credit & Bank Guarantee	BNP Paribas Bank	25	CRISIL A1+
5	Letter of credit & Bank Guarantee	YES Bank Limited	80	CRISIL A1+
6	Letter of credit & Bank Guarantee	ICICI Bank Limited	80	CRISIL A1+
7	Packing Credit	The Hongkong and Shanghai BankingCorporation Limited	15	CRISIL A1+
8	PackingCredit	Standard Chartered Bank	140	CRISIL A1+
9	PackingCredit	Kotak Mahindra Bank Limited	300	CRISIL A1+
10	PackingCredit	BNP Paribas Bank	50	CRISIL A1+
11	PackingCredit	Citibank N. A.	65	CRISIL A1+
12	Proposed Long Term Bank Loan Facility	--	140	CRISIL AA+/Stable
	Total		1000

2-6. Interchangeable with packing credit

Disclaimer : A rating by CRISIL Ratings reflects CRISIL Ratings’ current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by CRISIL Ratings. Our ratings are based on information provided by the issuer or obtained by CRISIL Ratings from sources it considers reliable. CRISIL Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by CRISIL Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. CRISIL Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. CRISIL Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. CRISIL Ratings’ criteria are available without charge to the public on the web site, www.crisilratings.com . CRISIL Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by CRISIL Ratings, please visit www.crisilratings.com or contact Customer Service Helpdesk at CRISILratingdesk@crisil.com or at 1800-267-1301

==> picture [539 x 43] intentionally omitted <==