Balkrishna Industries Ltd. — Capital/Financing Update 2026

Mar 4, 2026

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BIL/SE/2025-26

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

4[th] March, 2026

National Stock Exchange of India Ltd

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

Scrip Code: 502355 (Equity) Scrip Name/Code: BALKRISIND Scrip Code : 730801 (CP)

Dear Sir/Madam,

Sub: 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 CARE Ratings Limited vide its Letter No. CARE/HO/RL/2025-26/4895 (letter enclosed) dated 2[nd ] March,2026 have given credit rating on Non Convertible Debentures of Rs. 750 Crores of the Company:

Sr. No.	Instrument	Amount ( ₹ Crore)	Rating
1.	Non Convertible Debentures	750.00	CARE AA+; Stable

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

You are requested to kindly take the above information on record and disseminate.

Thanking you,

Yours faithfully,

For Balkrishna Industries Limited

Vipul Shah Digitally signed by Vipul Shah DN: c=IN, o=Personal, pseudonym=v89f2wk60eosjipzml1r7bhdy53xcgtn, 2.5.4.20=a36ec70d28f7e7f81a4cc0e5ed87d5dc9afa467c873138e401fff182661bcf77, postalCode=400067, st=Maharashtra, serialNumber=884301b47303ff23c9ea8c4f629be969f0944656ba3e637ee1dadae881eaa8a2, cn=Vipul Shah Date: 2026.03.04 15:07:12 +05'30' Vipul Shah Director & Company Secretary And Compliance Officer DIN: 05199526

Encl: As Above

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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

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No. CARE/HO/RL/2025-26/4895

Shri Madhusudhan Bajaj Chief Financial Officer Balkrishna Industries Limited

15, C-15 Trade World, BKT House, Kamala Mills compound, Senapati Bapat Marg, Lower Parel,

Mumbai Maharashtra 400013

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March 02, 2026

Confidential

Dear Sir,

Credit rating for proposed Non-Convertible Debenture issue

Please refer to your request for rating of proposed long-term Non-convertible Debenture (NCD) issue aggregating to Rs.750.00 crore of your Company. The proposed NCDs would have a tenure of five years with repayments at the end of third, fourth and fifth years.

1. The following ratings have been assigned by our Rating Committee:

Sr. No.	Instrument	Amount (₹ crore)	Rating1	Rating Action
1.	Non Convertible Debentures	750.00	CARE AA+; Stable	Assigned

1. Please arrange to get the rating revalidated, in case the proposed issue is not made within a period of six months from the date of our initial communication of rating to you (that is August 26, 2026).

2. In case there is any change in the size or terms of the proposed issue, please get the rating revalidated.

3. Please inform us the below-mentioned details of issue immediately, but not later than 7 days from the date of placing the instrument:

Instrument type	ISIN	Issue Size (Rs cr)	Coupon Rate	Coupon Payment Dates	Terms of Redemption	Redemption date	Name and contact details of Debenture Trustee	Details of top 10 investors

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1Complete definitions of the ratings assigned are available at www.careratings.com and in other CARE Ratings Ltd.’s publications.

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CARE Ratings Limited

4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in

CIN-L67190MH1993PLC071691

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1. Kindly arrange to submit to us a copy of each of the documents pertaining to the NCD issue, including the offer document and the trust deed.

2. The rating report for the rating will be communicated to you separately. A write-up (press release) on the above rating is proposed to be issued to the press shortly, a draft of which is enclosed for your perusal as Annexure 2 . We request you to peruse the annexed document and offer your comments if any. We are doing this as a matter of courtesy to our clients and with a view to ensure that no factual inaccuracies have inadvertently crept in. Kindly revert as early as possible. In any case, if we do not hear from you by March 04, 2026, we will proceed on the basis that you have no any comments to offer.

3. CARE Ratings Ltd. reserves the right to undertake a surveillance/review of the rating from time to time, based on circumstances warranting such review, subject to at least one such review/surveillance every year.

4. CARE Ratings Ltd. reserves the right to revise/reaffirm/withdraw the rating assigned as also revise the outlook, as a result of periodic review/surveillance, based on any event or information which in the opinion of CARE Ratings Ltd. warrants such an action. In the event of failure on the part of the entity to furnish such information, material or clarifications as may be required by CARE Ratings Ltd. so as to enable it to carry out continuous monitoring of the rating of the bank facilities, CARE Ratings Ltd. shall carry out the review on the basis of best available information throughout the life time of such bank facilities. In such cases the credit rating symbol shall be accompanied by “ISSUER NOT COOPERATING”. CARE Ratings Ltd. shall also be entitled to publicize/disseminate all the afore-mentioned rating actions in any manner considered appropriate by it, without reference to you.

5. Our ratings do not factor in any rating related trigger clauses as per the terms of the facility/instrument, which may involve acceleration of payments in case of rating downgrades. However, if any such clauses are introduced and if triggered, the ratings may see volatility and sharp downgrades.

6. Users of this rating may kindly refer our website www.careratings.com for latest update on the outstanding rating.

7. Our ratings are not recommendations to buy, sell or hold any securities.

8. If you need any clarification, you are welcome to approach us in this regard. We are indeed, grateful to you for entrusting this assignment to CARE Ratings Ltd.

Thanking you,

Yours faithfully,

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CARE Ratings Limited

4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in

CIN-L67190MH1993PLC071691

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Madhusudhan Giri Goswami Hardik Manharbhai Shah Assistant Director Director madhusudhan.g@careedge.in hardik.shah@careedge.in

Encl.: As above

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This disclaimer pertains to the ratings issued and content published by CARE Ratings Limited (“CareEdge Ratings”). Ratings are opinions on the likelihood of timely payment of the obligations under the rated instrument and are not recommendations to sanction, renew, disburse, or recall the concerned bank facilities or to buy, sell, or hold any security. Any opinions expressed herein are in good faith and are subject to change without notice. The rating reflects the opinions as on the date of the rating. A rating does not convey suitability or price for the investor. The rating agency does not conduct an audit on the rated entity or an independent verification of any information it receives and/or relies on for the rating exercise. CareEdge Ratings has based its ratings/outlook on the information obtained from reliable and credible sources. CareEdge Ratings does not, however, guarantee the accuracy, adequacy, or completeness of any information and is not responsible for any errors or omissions and the results obtained from the use of such information. The users of the rating should rely on their own judgment and may take professional advice while using the rating in any way. CareEdge Ratings shall not be liable for any losses that user may incur or any financial liability whatsoever to the user of the rating. The use or access of the rating does not create a client relationship between CareEdge Ratings and the user.

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CARE Ratings Limited

4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in

CIN-L67190MH1993PLC071691

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