Bharat Forge Ltd — Capital/Financing Update 2021

Jul 31, 2021

BHARAT FORGE

July 31, 2021

To,

BSE Limited,

1st Floor, New Trading Ring, Rotunda Building, P.J. Towers, Dalal Street, Fort, Mumbai - 400 001 BSE SCRIP CODE-500493

National Stock Exchange of India Ltd.,

'Exchange Plaza', Bandra-Kurla Complex, Bandra (East) Mumbai- 400 051 Symbol: BHARATFORG Series: EQ

Dear Sir,

Subject: ICRA Credit Rating for -

a. Line of Credit and External Commercial Borrowing b. Rs. 500.00 crore Non-Convertible Debenture (NCD).

Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to intimate you that ICRA has revised it's long term outlook to Stable from Negative and reaffirmed its ratings of the Company as under:

Sr.No.	ParticularsRating	ParticularsRating
1.	Long Term RatingFund-based facilities	[ICRA]AA+(Stable)
2.	Short Term RatingNon-fund based facilities	[ICRA]Al+
3.	Non-Convertible Debentures of Rs. 500crores	[ICRA]AA+(Stable)

Submitted for your kind reference and records.

Thanking you,

==> picture [189 x 101] intentionally omitted <==

==> picture [35 x 34] intentionally omitted <==

KALYANI GROUP COMPANY

BHARAT FORGE LIMITED, MUNDHWA, PUNE 411 036, MAI-IARASHTRA, INDIA.

PHONE: +91 20 6704 2777 FAX: +91 20 2682 0699 (Export), 2682 2387 (Sales/Mktg) 2682 2163 (Materials) Website : www.bharatforge.com CIN No. L25209PN 1961 PLC012046