Delton Cables Ltd. — Capital/Financing Update 2024

Jul 26, 2024

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Date: July 26, 2024

To, The Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001

BSE Scrip Code : 504240

Sub: Disclosure under Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir/Madam,

In compliance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Infomerics Valuation and Rating Pvt. Ltd (Credit Rating Agency) has upgraded the rating of the Company which are as follows:

S. No.	Type of credit rating	Existing	Revised
1	Long term Bank Facilities	IVR BBB-/ Stable (IVR Triple B Minus with Stable outlook)	IVR BBB/ Stable (IVR Triple B with Stable outlook)
2	Short Term Bank Facilities	IVR A3 (IVR A Three)	IVR A3+ (IVR A Three Plus)

A copy of the credit rating letter dated July 26, 2024 issued by the credit rating agency is also enclosed herewith.

You are therefore requested to kindly take the same on your record in compliance of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Thanking you,

Yours faithfully

For Delton Cables Limited

VIKAS Digitally signed by VIKAS RAWAT RAWAT Date: 2024.07.26 11:54:49 +05'30' Vikas Rawat Company Secretary Encl.; As above

July 26, 2024

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Mr. Vivek Gupta

Director

Delton Cables Limited

17/4 Mathura Road

Sector -15A Faridabad - 121001

Dear Sir,

Credit rating for bank facilities

After taking into account all the relevant recent developments including operational and financial performance of your company for F.Y 23(Aud.) & FY24(Aud.) our Rating Committee has reviewed the following ratings:

Facilities		Amount	Current Ratings	Previous Ratings	Rating Action
		(Rs. crore)
Long term Bank		47.08	IVR BBB/ Stable	IVR BBB-/ Stable	Upgraded
Facilities			(IVR Triple B with Stable	(IVR Triple B Minus with
			outlook)	Stable outlook)
Long term Bank		1.00	IVR BBB/ Stable	-	Assigned
Facilities			(IVR Triple B with Stable
			outlook)
Short Term Bank		59.00	IVR A3+ (IVR A Three	IVR A3 (IVR A Three)	Upgraded
Facilities			Plus)
Short Term Bank		44.00	IVR A3+ (IVR A Three	-	Assigned
Facilities			Plus)
Total		151.08	(Rupees One Hundred Fifty one crores and eight lakhs only)

2. Details of the credit facilities are attached in Annexure I. Our rating symbols for long-term and short-term ratings and explanatory notes thereon are attached in Annexure II.

3. The press release for the rating(s) will be communicated to you shortly. 4. The above rating is normally valid for a period of one year from the date of communication of the rating to you (that is. July 24, 2024).

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5. If the proposed long term / short term facility (if any) is not availed within a period of six months / three months respectively from the date of this letter, then the rating may please be revalidated from us before availing the facility. 6. INFOMERICS reserves the right to undertake a surveillance/review of the rating(s) from time to time, based on circumstances warranting such review, subject to at least one such review/surveillance every year.

7. A formal surveillance/review of the rating is normally conducted within 12 months from the date of initial rating/last review of the rating. However, INFOMERICS reserves the right to undertake a surveillance/review of the rating more than once a year if in the opinion of INFOMERICS, circumstances warrant such surveillance/review.

8. You shall provide us with a No Default Statement as at the last date of the month on the first date of succeeding month without fail . The NDS shall be mailed every month to nds@Infomerics.com and to the mail id of the undersigned.

9. You shall provide the quarterly performance results/quarterly operational data to us within 6 weeks from the close of each calendar quarter for our review/monitoring . 10. You shall furnish all material information and any other information called for by INFOMERICS in a timely manner, for monitoring the rating assigned by INFOMERICS. In the event of failure on your part in furnishing such information, to carry out continuous monitoring of the rating of the bank facilities, INFOMERICS shall carry out the review/annual surveillance based on best available information throughout the lifetime of such bank facilities as per the policy of INFOMERICS.

11. Please note that INFOMERICS ratings are not recommendations to buy, sell or hold any security or to sanction, renew, disburse or recall the bank facilities. INFOMERICS does not take into account the sovereign risk, if any, attached to the foreign currency loans, and the ratings are applicable only to the rupee equivalent of these loans.

12. Users of this rating may kindly refer our website for latest update on the outstanding rating.

13. Further, this is to mention that all the clauses mentioned in the initial rating letter also applicable. If you need any clarification, you are welcome to approach us in this regard.

Thanking you,

Yours faithfully,

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Tarun Jain Vanshika Gupta Senior Rating Analyst Rating Analyst - Ratings Tarun.Jain@infomerics.com Vanshika.Gupta@infomerics.com

Encl.: As above

Disclaimer: Infomerics ratings are based on information provided by the issuer on an ‘as is where is’ basis. Infomerics credit ratings are an opinion on the credit risk of the issue / issuer and not a recommendation to buy, hold or sell securities. Infomerics reserves the right to change or withdraw the credit ratings at any point in time. Infomerics ratings are opinions on financial statements based on information provided by the management and information obtained from sources believed by it to be accurate and reliable. The credit quality ratings are not recommendations to sanction, renew, disburse or recall the concerned bank facilities or to buy, sell or hold any security. We, however, do not guarantee the accuracy, adequacy or completeness of any information, which we accepted and presumed to be free from misstatement, whether due to error or fraud. We are not responsible for any errors or omissions or for the results obtained from the use of such information. Most entities whose bank facilities/instruments are rated by us have paid a credit rating fee, based on the amount and type of bank facilities/instruments. In case of partnership/proprietary concerns/Association of Persons (AOPs), the rating assigned by Infomerics is based on the capital deployed by the partners/proprietor/ AOPs and the financial strength of the firm at present. The rating may undergo change in case of withdrawal of capital or the unsecured loans brought in by the partners/proprietor/ AOPs in addition to the financial performance and other relevant factors.

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Annexure I

Details of Rated Facilities

1. Long term facilities

1. A Long-Term Fund Based Facility – Term Loan

					(Rs. Crore)
Sr. No	Lender	Type of Facility	Rated Amount	Remarks	Maturity
1.	Canara Bank	Term Loan	5.78	-	July 2027
2.	Indian Bank	Term Loan	1.30	-	Nov 2026
	Total		7.08

1. B Long-Term Fund Based Facility – Working capital

Sr. No	Lender	Type of Facility	Rated Amount	Remarks	Maturity
1.	Canara Bank	Cash Credit	10.28	-	Revolving in Nature
2	Indian Bank	Cash Credit	19.20	-	Revolving in Nature
3	Canara Bank	WCDL	11.52	-
	Total		41.00

2. Long term facilities

2. A Short-Term Non-Fund Based Facility

					(Rs. Crore)
Sr. No	Lender	Type of Facility	Rated Amount	Remarks	Maturity
1.	Canara Bank	Bank Guarantee	20.50	-	-
2.	Indian Bank	Bank Guarantee	15.50	-	-
3	Canara Bank	Letter of credit	35.00	-	-
4.	Indian Bank	Letter of credit	32.00	-	-
			103.00

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ANNEXURE II

INFOMERICS Rating Scale for Long Term Instruments & Borrowing Programme

Rating Scale IVR AAA IVR AA IVR A IVR BBB IVR BB IVR B IVR C IVR D	Definition
	Securities with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations. Such securities carry lowest credit risk
	Securities with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such securities carry very low credit risk
	Securities with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such securities carry low credit risk
	Securities with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations. Such securities carry moderate credit risk
	Securities with this rating are considered to have moderate risk of default regarding timely servicingof financial obligations
	Securities with this rating are considered to have high risk of default regarding timely servicing of financial obligations
	Securities with this rating are considered to have very high risk of default regarding timely servicing of financial obligations
	Securities with this rating are in default or are expected to be in default soon

INFOMERICS may apply modifiers {"+" (plus) / "-"(minus)} with the rating symbols for the categories ‘IVR AA’ to ‘IVR C’. The modifiers reflect the comparative standing within the category.

INFOMERICS may assign rating outlooks for ratings from IVR ‘AAA' to IVR ‘C'.

The above rating scale also applies to rating of bank loans, fixed deposits, and other instruments.

INFOMERICS Rating Scale for Short Term Instruments & Borrowing Programmes

Rating Scale	Definition
IVR A1	Securities with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such securities carrylowest credit risk.
IVR A2	Securities with this rating are considered to have strong degree of safety regarding timely payment of financial obligations. Such securities carrylow credit risk.
IVR A3	Securities with this rating are considered to have moderate degree of safety regarding timely payment of financial obligations. Such securities carry higher credit risk as compared to instruments rated in the two higher categories..
IVR A4	Securities with this rating are considered to have minimal degree of safety regarding timely payment of financial obligations. Such securities carry very high credit risk and are susceptible to default.
IVR D	Securities with this rating are in default or expected to be in default on maturity.

INFOMERICS may apply modifier {"+" (plus)} with the rating symbols for the categories ‘IVR A1’ to ‘IVR A4’. The modifiers reflect the comparative standing within the category.

The above rating scale also applies to rating of bank loans, fixed deposits and other instruments.

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