Camlin Fine Sciences Ltd — Capital/Financing Update 2019

Mar 7, 2019

Date: Oih March, 2019

To,	To,
BSE Limited,	The Manager,
25, P. J. Towers,	Listing Department,
Dalal Street,	National Stock Exchange of India Ltd.,
Mumbai -400 001	Exchange Plaza, Sandra Kurla Complex,
Ref: Company Scrip Code: 532834	Sandra (East), Mumbai-400051
	Ref: Symbol: CAMLINFINE 11 Series: EQ

Sub: Submission of Ratings received from Acuite Ratings & Research Limited.

Dear Sir/Madam,

We herewith enclose the ratings letter received yesterday, i.e. 061 h March, 201 9, from Acuite Ratings & Research Limited which is self-explanatory.

Acuite has assigned its long-term rating of 'ACUITE A-' (read as ACUITE A minus) and short-term rating of 'ACUITE A2+' (read as ACUITE A two plus) to the Rs. 392.30 crore bank facilities of the Company. The outlook assigned is 'Stable'.

Kindly take the above information on records.

Thanking You,

Encl.: a/a. For Camlin Fine Sciences Limited

(Rahul Sawale) Group Company Secretary

Camlin Fine Sciences Ltd. F/ I 1-12, WICEL, Opp. SEEPZ, Central Road,Andheri East, Mumbai 400093, India. CIN: L74 I OOMH I 993PLC07536 I

Rating Letter - Intimation of Rating Action

Letter Issued on : March 06, 2019 Letter Expires on : February 01, 2020

CAMLIN FINE SCIENCES LIMITED Plot No.F/11 & F/12, WICEL, Opp. SEEPZ Main Gate, Central Road, Mumbai 400093 MAHARASHTRA

Kind Attn.: Mr. Santosh Parab, CFO (Tel. No.7045418690)

Dear Mr. Parab,

Sub.: Rating(s) Assigned - Bank Loans / Debt Instruments of CAMLIN FINE SCIENCES LIMITED

Please note that the current rating(s) and outlook, instrument details, and latest rating action for the aforementioned instrument are as under:

	Long Term Instruments	Short Term Instruments
Total Rated Quantum (Rs. Cr.)	207.50184.80
Quantum of Enhancement (Rs. Cr.)	Not applicable	Not applicable
Rating	ACUITE A-	ACUITE A2+
Outlook	Stable	Not applicable
Most recent Rating Action	Assigned	Assigned
Date of most recent Rating Action	March 06, 2019	March 06, 2019
Rating Watch	Not applicable	Not applicable

Acuité reserves the right to revise the ratings , along with the outlook, at any time, on the basis of new information, or other circumstances which Acuité believes may have an impact on the ratings. Such revisions, if any, would be appropriately disseminated by Acuité as required under prevailing SEBI guidelines and Acuité 's policies.

This letter will expire on February 01, 2020 or on the day when Acuité takes the next rating action, whichever is earlier. It may be noted that the rating is subject to change anytime even before the expiry date of this letter. Hence lenders / investors are advised to visit https://www.acuite.in/ OR scan the QR code given above to confirm the current outstanding rating.

Acuité will re-issue this rating letter on February 02, 2020 subject to receipt of surveillance fee as applicable. If the rating is reviewed before February 01, 2020, Acuité will issue a new rating letter.

Yours truly, For Acuité Ratings & Research Limited

Suman Chowdhury President - Ratings

Annexures: A. Details of the Rated Instrument B. Details of the rating prior to the above rating action

Acuité Ratings & Research Limited

(erstwhile SMERA RatingsLimited) SEBI Registered | RBIAccredited

102, Sumer Plaza, Marol Maroshi Road, Marol, Andheri (East), Mumbai - 400059 | +91 22 67141111 SMS: +91 9969898000 | www.acuite.in | CIN: U74999MH2005PLC155683

Bank	Facilities	Scale	Amt.(Rs. Cr)	RatingAssigned	Outlook
Fund Based Facilities
Bank of India	Cash Credit	Long Term	16.00#	ACUITE A-	Stable
Oriental Bank ofCommerce	PC/PCFC	Long Term	30.00@	ACUITE A-	Stable
IDBI	Cash Credit	Long Term	65.00	ACUITE A-	Stable
State Bank of India	Cash Credit	Long Term	89.00**	ACUITE A-	Stable
EXIM Bank	Term Loan	Long Term	7.50	ACUITE A-	Stable
Total Fund Based Facilities			207.50
Non-Fund Based Facilities
IDBI	Letter of Credit	Short Term	36.00*	ACUITE A2+	Notapplicable
IDBI	BankGuarantee	Short Term	8.00*	ACUITE A2+	Notapplicable
State Bank of India	Letter of Credit	Short Term	72.80	ACUITE A2+	Notapplicable
Bank of India	Letter of Credit	Short Term	16.00	ACUITE A2+	Notapplicable
Bank of India	BankGuarantee	Short Term	8.00	ACUITE A2+	Notapplicable
Oriental Bank ofCommerce	Inland Letter ofCredit	Short Term	25.00	ACUITE A2+	Notapplicable
Oriental Bank ofCommerce	Standby LC	Short Term	19.00	ACUITE A2+	Notapplicable
Total Non-Fund Based Facilities		184.80
Total Facilities		392.30

*one way interchangeability from NFB limit to FB limit upto 50 percent of the sanctioned NFBWC limit of Rs. 44.00 crore

** EPC/PCFC of Rs.89.00 crore sublimit of CC

# EPC/PCFC of Rs.16.00 crore sublimit of CC

@BP/FDBP/BD/CC of Rs. 30.00 crore sublimit of PCL

Annexure B. Details of the rating prior to the above rating action

	Long Term Instruments	Short Term Instruments
Previous Rated Quantum	NA	NA
Rating	NA	NA
Outlook	NA	NA

DISCLAIMER

An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy , sell or hold any security. Acuité ratings are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité , in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind arising from the use of its ratings.Acuité ratings are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité , Acuité 's rating scale and its definitions.