Cheviot Co.Ltd. — Capital/Financing Update 2023

May 25, 2023

25th May 2023

To BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Dalal Street, Fort Bandra Kurla Complex, Bandra (E), Mumbai – 400 001 Mumbai - 400 051

Ref: BSE Scrip Code – 526817 | NSE Symbol: CHEVIOT | ISIN - INE974B01016

Dear Sir/Madam

Re: Intimation of reaffirmation of Bank Loan Rating - Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

This is to inform that Crisil Limited, as part of annual rating surveillance exercise, has reaffirmed the LongTerm Rating at A+/Stable and Short-Term Rating as A1+ on Bank Loan Rating in respect of the various credit facilities availed by the Company from Bank/Financial Institution valid till 31st March, 2024.

The Rating Letter issued by Crisil Limited was placed before the Board of Directors at their meeting held on 25th May, 2023. A copy of the Rating Letter is enclosed for your record.

Thanking you Yours faithfully

For Cheviot Company Limited

ADITYA BANERJEE

Digitally signed by ADITYA BANERJEE Date: 2023.05.25 14:15:03 +05'30'

(Aditya Banerjee) Company Secretary and Compliance Officer

Encl. As stated above.

CONFIDENTIAL

RL/CHECOM/297924/BLR/0423/57948 April 21, 2023

Mr. Madhup Kumar Patni

Chief Financial Officer Cheviot Co Ltd Magma House, 9th Floor, 24, Park Street, Kolkata - 700016

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Dear Mr. Madhup Kumar Patni,

Re: CRISIL rating on the bank facility(ies) of Cheviot Co Ltd.

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 as on date.

Total Bank Loan Facilities Rated	Rs.34 Crore
Long Term Rating	CRISIL A+/Stable
Short Term Rating	CRISIL A1+

(Bank-wise details as per Annexure 1)

CRISIL Ratings also disseminates the rating on the bank facilities through its website and updates the rating lists on CRISIL Ratings’ website on a real time basis. Additionally, the rating lists in its publications such as Rating Scan and BLR Connect are also updated to reflect the latest ratings outstanding on the bank loan facilities. CRISIL Ratings reserves the right to withdraw, or revise the ratings/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.

The rating outstanding on the above bank facilities during April 01, 2023, to April 20, 2023, was CRISIL A+/Stable/CRISIL A1+.

This letter will remain valid till March 31, 2024. After this date, please insist for a new rating letter (dated later than March 31, 2024). Please visit www.crisilratings.com to confirm that the rating continues to be under surveillance and the rating is still valid.

Should you require any clarifications, please feel free to contact us.

With warm regards,

Yours sincerely,

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Jaya Mirpuri Director - CRISIL Ratings

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Nivedita Shibu Associate Director - CRISIL Ratings

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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 1800267-1301

____________ Regist

CRISIL Ratings Limited A subsidiary of CRISIL Limited, an S&P Global Company Corporate Identity Number: U67100MH2019PLC326247

ered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001 www.crisilratings.com

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

S.No.	Bank Facility	Bank	Amount (Rs. in Crore)	Outstanding Rating
1	Cash Credit	Axis Bank Limited	10	CRISIL A+/Stable
2	Letter of Credit	Axis Bank Limited	15	CRISIL A1+
3	LongTerm Loan	Exim Bank	1	CRISIL A+/Stable
4	Proposed Term Loan	--	1	CRISIL A+/Stable
5	Short Term Loan	Axis Bank Limited	7	CRISIL A1+
	Total		34

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 1800267-1301

CRISIL Ratings Limited A subsidiary of CRISIL Limited, an S&P Global Company Corporate Identity Number: U67100MH2019PLC326247

____________ Regist

ered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001 www.crisilratings.com