Epigral Limited — Capital/Financing Update 2023

Nov 30, 2023

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30.11.2023

To,

National Stock Exchange of India Limited “Exchange Plaza”, Bandra-Kurla Complex, Bandra (East) Mumbai 400 051

BSE Limited Floor- 25, P J Tower, Dalal Street, Mumbai 400 001

SYMBOL:- EPIGRAL

Scrip Code: 543332

Dear Sirs,

Subject: Review of CRISIL Ratings on the Bank Facilities of Epigral Limited

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") , Epigral Limited informs that - CRISIL Ratings has reaffirmed Long Term Rating - CRISIL AA /Stable to its various Bank Facilities aggregating to Rs. 1050 Crore vide its letter RL/GDS12080/332191/ BLR/1123/73657 dated 30[th] November, 2023, (Copy Enclosed)

Kindly take the same on record.

Thanking you,

Yours faithfully, For Epigral Limited (formerly known as ‘Meghmani Finechem Limited’)

KAMLESH Digitally signed by KAMLESH DINKARRAY DINKARRAY MEHTA Date: 2023.11.30 MEHTA 15:26:06 +05'30'

K. D. Mehta Company Secretary and Compliance Officer Membership No. FCS 2051

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CONFIDENTIAL

RL/GDS12080/332191/BLR/1123/73657 November 30, 2023

Mr. Sanjay Jain

Chief Financial Officer

EPIGRAL Limited

Meghmani House Behind Safal Profitare, Corporate Road Prahladnagar Ahmedabad - 380015 9909949448

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Dear Mr. Sanjay Jain,

Re: Review of CRISIL Ratings on the bank facilities of EPIGRAL Limited

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, and the rating actions by CRISIL Ratings on the ratings as on date.

Total Bank Loan Facilities Rated	Rs.1050Crore
Long Term Rating	CRISIL AA-/Stable(Reaffirmed)

(Bank-wise details as per Annexure 1)

As per our Rating Agreement, CRISIL Ratings would disseminate the ratings, along with the outlook, through its publications and other media, and keep the ratings, along with the outlook, under surveillance over the life of the instrument/facility. CRISIL Ratings reserves the right to withdraw, or revise the ratings, along with the 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. Please visit www.crisilratings.com and search with the name of the rated entity to access the latest rating/s.

In the event of the company not availing the proposed facilities within a period of 180 days from the date of this letter, a fresh letter of revalidation from CRISIL Ratings will be necessary.

Should you require any clarification, please feel free to get in touch with us.

With warm regards, Yours sincerely,

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Shounak Chakravarty Associate Director - CRISIL Ratings

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Nivedita Shibu Associate Director - CRISIL Ratings

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 1800-267-1301

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

S.No.	Bank Facility	Bank	Amount (Rs. inCrore)	Outstanding Rating
1	Proposed Long Term Bank Loan Facility	--	38.32	CRISIL AA-/Stable
2	Rupee Term Loan	The Federal Bank Limited	39.47	CRISIL AA-/Stable
3	Rupee Term Loan	HDFC Bank Limited	326.01	CRISIL AA-/Stable
4	Rupee Term Loan	Standard Chartered Bank Limited	19.2	CRISIL AA-/Stable
5	Rupee Term Loan	Axis Bank Limited	75	CRISIL AA-/Stable
6	Rupee Term Loan	State Bank of India	152	CRISIL AA-/Stable
7	WorkingCapital Facility	Kotak Mahindra Bank Limited	50	CRISIL AA-/Stable
8	Working Capital Facility	Standard Chartered Bank Limited	80	CRISIL AA-/Stable
9	WorkingCapital Facility	State Bank of India	100	CRISIL AA-/Stable
10	WorkingCapital Facility	HDFC Bank Limited	80	CRISIL AA-/Stable
11	WorkingCapital Facility	ICICI Bank Limited	90	CRISIL AA-/Stable
	Total		1050

1. Yet to be allocated

5. Axis bank is sanction limit Rs.350 cr, out of which company has borrowed Rs. 75 Cr as on 30th Sept 2023

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 1800-267-1301

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