Deepak Nitrite Limited — Capital/Financing Update 2021

Mar 23, 2021

DNL/138/BSE/66912021 March 23,2021

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,2015, as per intimation received from ICRA Limited on 23'd March, 2021,we wish to inform you that ICRA Limited has upgraded long-term rating from [CRA] AA- (pronounced ICRA double A minus) to [CRA] AA (pronounced ICRA double A) on bank facilities of Deepak Nitrite Limited (DNL). The outlook on the long-term rating has been revised from Positive to Stable. ICRA has also re-affirmed Short Term rating at flCRAlAl+ (pronounced ICRA A one plus) on bank facilities of DNL.

ICRA has also re-affirmed the short term 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 flCRAI A (pronounced ICRA A) to [CRA] AA- (pronounced ICRA double A minus) on bank facilities of Deepak Phenolics Limited (DPL), a wholly owned subsidiary of DNL. The outlook on the long-term rating has been Stable. ICRA has also upgraded short-term rating from [CRA]Ai (pronounced ICRA A one) to flCRAI A1+ (pronounced ICRA A one plus) on bank facilities of DPL.

Please take the same on your record.

Thanking you,

Yours faithfully For DEEPAK NITRITE LIMITED

DEEPAK NITRITE LIMITED CIN: 124110GJ1970P1C001735 Registered & Corporate Office: Aaditya-1, Chhani Road, Vadodara-390 024. cujarat, India. Te[:+91265276520013960200 | Fax:+912652765344 Investor Relations Contact: investor@ godeepak.com www.godeepak.com