Deepak Nitrite Limited — Capital/Financing Update 2019

Mar 22, 2019

DN L/1 38/BSE/1 01 1 t201 I March 22,2019

Department of Corporate Services BSE Ltd. Phiroje Jeejeebhoy Towers Dalal Street MUMBAT - 400 ⁰⁰¹

Dear Sir,

Ref: Scrip Code - 506401

SUB: Intimation - Credit Ratinq

Pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations,2Ol5, we wish to inform you that ICRA Limited has re-affirmed the longterm rating of Line of credit at [CRA] A+ (pronounced ICRA A plus) and Short Term rating at [CRA] A1+ (pronounced ICRA A one plus) assigned to the fund based limits and non-fund based limits of Deepak Nitrite Limited (DNL).The outlook on the longterm rating has been revised from Stable to Positive.

ICRA has also re-affirmed the rating at [CRA] A1+ (pronounced ICRA A one plus) assigned to the Commercial Paper programme of DNL.

Further, ICRA Limited has upgraded long term rating from [CRA] BBB (pronounced ICRA triple B) to [CRA] A- (pronounced ICRA A minus) and the short-term rating from [CRA] A3+ (pronounced ICRA A three plus) to flCRA] A2+ (pronounced ICRA A two plus) to Deepak Phenolics Limited, Wholly owned subsidiary of DNL.

Please take the same on your record.

Thanking you,

Yours fgthffiV For DEEPAK NITRITE LIMITED

Director-Finance & CFO

DEEPAK NITRITE LIMITED Cl N: 124110GJ1970PlC001735

Registered & Corporate Office:

Aaditya - l, Chhani Road, Vadodara-390 024. Gujarat, India. Tel: +91 265 276 5200/396 0200 | Fax: +91 265 276 ^{5344 I}nvestor Relations Contact: investor@deepa knitrite.com www.godeepak.com