Excell Industries Ltd. — Capital/Financing Update 2021

Jan 30, 2021

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30[th] January, 2021

BSE Ltd. National Stock Exchange of I ndia Ltd. Listing Department, Listing Department, Pheeroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra-Kurla Complex, Ban d ra (E), Fort, Mumbai-400 001 Mumbai-400 051

Sub: Disclosure underRegula t ion 30 – Reaffirmation of Credit Rating by CRISIL. Ref: BSE Scrip Code: 500650; NSE Scrip Code: EXCELINDUS

Dear Sir / Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations an d Disclosure Requirements) Regulations, 2 015, please find enclosed CRISIL Rating letter dated 30.01.2021, re-affirming ratin g on long term bank loan facilities of the Company at CRISIL A+/ Stable (Reaffirm a tion) and rating on short term bank loa n facilities at CRISIL A1 (Reaffirmation).

d . Kindly take this on your recor

Thanking you

Yours faithfully, For Excel Industries Limited

SURENDRA Digitally signed by SURENDRA KUMAR SINGHVI DN: c=IN, o=Personal, cn=SURENDRA KUMAR SINGHVI, serialNumber=5e70cc04c4ed00df99c82df47d7291 KUMAR 993b46a62124d4b36a2cb3ca6d5a962295, postalCode=411030, 2.5.4.20=c7ba014f2f2b7307c1997f9ef176a2926735 0493ff4f3a80c72ebba828326bf9, st=Maharashtra SINGHVI Date: 2021.01.30 15:26:05 +05'30' S K Singhvi Company Secretary

Encl: As above

Chemicals Business / Environment & Biotech Division Excel Industries Limited E: e xcelmumbai@excelind.com Polymer Inputs / Pharmaceuticals Intermediaries/Veter i nary API’s 184-87, S. V. Road, Jogeshwari (West), T: 9 1-22-66464200 Mumbai-400102, Maharashtra, India. F: + 91-22-2678 3657 CIN: L24200MH1960PLC011807 W: http://www.excelind.co.in

CONFIDENTIAL

RL/EXCEL/258643/BLR/0121/01867 January 30, 2021

Mr. Devendra Dosi

Chief Financial Officer Excel Industries Limited

184-187 Swami Vivekanand Road Jogeshwari (W) Mumbai City - 400102

Dear Mr. Devendra Dosi,

Re: Review of CRISIL Ratings on the bank facilities of Excel Industries 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 Long Term Rating Short Term Rating	Rs.149.5 Crore
	CRISIL A+/Stable(Reaffirmed)
	CRISIL A1(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.

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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Rajeswari Karthigeyan Associate Director - CRISIL Ratings

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Nivedita Shibu Associate Director - CRISIL Ratings

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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.crisil.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 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. in Crore)	Outstanding Rating
1	Cash Credit	Bank of India	32.5	CRISIL A+/Stable
2	Cash Credit	State Bank of India	22.75	CRISIL A+/Stable
3	Cash Credit	Axis Bank Limited	9.75	CRISIL A+/Stable
4	Channel Financing	Bank of India	5.0	CRISIL A1
5	Inland Guarantees	Bank of India	2.5	CRISIL A1
6	Inland Guarantees	State Bank of India	1.0	CRISIL A1
7	Inland/Import Letter of Credit	Axis Bank Limited	6.0	CRISIL A1
8	Inland/Import Letter of Credit	Bank of India	20.0	CRISIL A1
9	Inland/Import Letter of Credit	State Bank of India	15.5	CRISIL A1
10	Long Term Loan	Kotak Mahindra Bank Limited	13.5	CRISIL A+/Stable
11	Overdraft Facility	YES Bank Limited	1.0	CRISIL A1
12	Supplier Bill Discounting	HDFC Bank Limited	20.0	CRISIL A1
	Total		149.5

1-3. Interchangeable with export packing credit, foreign bills discounting, and inland bills discounting

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.crisil.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 contact Customer Service Helpdesk at CRISILratingdesk@crisil.com or at 1800-267-1301.

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