Dynamatic Technologies Ltd. — Capital/Financing Update 2019

Aug 23, 2019

DVNAMATIC TECHNOLOGIES LIMITED

23rd Aug, 2019

• 1. The Secretary Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001.
• 1. The Secretary National Stock Exchange of India Limited "Exchange Plaza" Bandra-Kurla Complex Bandra East Mumbai - 400051.

Sub: Corporate Announcement - Credit Rating Ref: Scrip Code: 5052421 OYNAMATECH

Dear Sir / Madam,

We wish to inform you that India Ratings & Research (Ind-Ra) has revised Dynamatic Technologies Limited's Outlook to Positive from Stable while affirming its Long - Term Issuer Rating at INO BBB+.

The reports by the above referred credit rating agency is enclosed. The Exchanges are requested to take this on record.

Thank you.

Sincerely yours,

For OYNAMATIC TEC

India Ratings &Research

Mr. Chalapathi P CFO Dynamatic Technologies Limited Dynamatic Park Peenya, Bangalore- 560058, India

August 22, 2019

Kind Aftn: Mr. Chalapathi p, CFO

Dear Sir,

Re: Bank Loan Ratings ofDynamatic Technologies

India Ratings and Research (Ind-Ra) has revised Dynamatic Technologies Limited's (DTL) Outlook to Positive from Stable while affirming its Long-Term Issuer Rating at 'lND BBB+'. The instrument-wise rating actions are as follows:

Type Instrument	Size of Issue (million)	Rating/Outlook	Ratfue Action
Fund based working capital limits	INRl,700	IND BBB+/Positive/IND A2+ ,	Affirmed; Outlook revised to Positive from Stable
Non- fund-based working capital limits	INR230	IND A2+	Affirmed
Term loan	INR3,616 (decreased from INR3,690)	IND BBB+/Positive	Affirmed; Outlook revised to Positive from Stable

The details of bank wise facilities are mentioned in the annexure.

In issuing and maintaining its ratings, India Ratings relies on factual information it receives from issuers and underwriters and from other sources India Ratings believes to be credible. India Ratings conducts a reasonable investigation of the factual information relied upon by it in accordance with its ratings methodology, and obtains reasonable verification of that information from independent sources, to the extent such sources are available for a given security.

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Users of India Ratings ratings should understand that neither an enhanced factual investigation nor any third-party verification can ensure that all of the information India Ratings relies on in connection with a rating will be accurate and complete. Ultimately, the issuer and its advisers are responsible for the accuracy of the infoimation they provide to India Ratings and to the market in offering documents and other reports. In issuing its ratings India Ratings must rely on the work of experts, including independent auditors with respect to financial statements and attorneys with respect to legal and tax matters. Further, ratings are inherently forward-looking and embody assumptions and predictions about future events that by their nature cannot be verified as facts. As a result, despite any verification of current facts, ratings

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We are pleased to have had the opportunity to be of service to you. If we can be of further assistance, please contact the undersigned at 022 - 4000 1700.

Sincerely,

India Ratings

Venkataraman Rajaraman Senior Director

Siva Subramanian Director

Dynamatic Technologies Ltd. 22 August 2019

Annexure: Details of Bank Loan Facilities

Line	Rating	Amount (INR million)
ICICI Bank Limited	IND BBB+lPositive	1,000
Axis Bank Limited	IND BBB+lPositive	852
IndusInd Bank Limited	IND BBB+lPositive	980
Export-Import Bank of India	IND BBB+lPositive	784
Total		3,616

Line	Rating	Amount (INR million)
Fund-based limits
Kotak Mahindra Bank Limited	IND BBB+/Positive/IND A2+	450
Axis Bank Limited	IND BBB+lPositivelIND A2+	750
IndusInd Bank Limited	' IND BBB+/PositivelIND A2+	500
Total		1,700
Non-fund-based limits
Kotak Mahindra Bank Limited	INDA2+	230
Axis Bank Limited"	INDA2+	(250)
IndusInd Bank Limited *	INDA2+	(250)
Total		230