Goa Carbon Ltd. — Capital/Financing Update 2025

Nov 7, 2025

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GOA CARBON LIMITED

Corporate Identity Number: L23109GA1967PLC000076 Registered Office: DEMPO HOUSE, CAMPAL, PANAJI-GOA 403 001 Tel.: (0832) 2441300 E-mail: legal@goacarbon.com Web site: www.goacarbon.com Corporate Identity Number: L23109GA1967PLC000076

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COMPANY’S SCRIP CODE / SYMBOL: 509567 / GOACARBON

ISIN: INE426D01013

Ref. No.: 2025\XI\

Date: 7[th] November 2025

The General Manager Department of Corporate Services BSE Limited, .................…Thru’ Listing Centre 25thFloor, P. J. Towers, Dalal Street, Mumbai 400001		The Listing Department National Stock Exchange of India Ltd., …Thru’ NEAPS Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai 400051

Sub.: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) – Regulations, 2015 Revision in Credit Rating

Dear Sir(s),

With reference to the above subject, we wish to inform you that Acuité Ratings & Research Limited – the credit rating agency, has revised the long term rating to ‘ACUITE BBB+’ from ‘ACUITE A-’ and the short term rating to ‘ ACUITE A2’ from ‘ ACUITE A2+’ on the Rs. 425.00 crore bank facilities of the Company. Further, Acuité has reaffirmed the outlook as ‘ Stable’ .

We are enclosing herewith the rating report received from Acuité Ratings & Research Limited.

Kindly take the above on record.

Thanking you,

Yours faithfully, For Goa Carbon Limited

PRAVIN Digitally signed by PRAVIN RAJENDRA RAJENDRA SATARDEKAR Date: 2025.11.07 SATARDEKAR 22:34:59 +05'30'

Pravin Satardekar Company Secretary ACS 24380

Encl.: as above

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Rating Letter - Intimation of Rating Action

Letter Issued on : November 07, 2025 Letter Expires on : September 27, 2026 Annual Fee valid till : September 27, 2026

GOA CARBON LIMITED

1ST FLOOR, DEMPO HOUSE D. B. ROAD, CAMPAL, Panaji 403001 GOA

Scan this QR Code to verify authenticity of this rating

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Kind Attn.: Mr. VIKRANT GARG,CHIEF FINANCIAL OFFICER (Tel. No.9833369260)

Sir / Madam,

Sub.: Rating(s) Downgraded - Bank Loans of GOA CARBON LIMITED

Please note that the current rating(s) and outlook, instrument details, and latest rating action for the aforementioned instrument are as under:

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	85.00	ACUITE BBB+	Stable
Bank Loan Ratings	340.00	-	ACUITE A2
Total Outstanding Quantum (Rs. Cr)	425.00	-	-

Acuité reserves the right to revise the rating(s) , along with the outlook, at any time, on the basis of new information, or other circumstances which Acuité believes may have an impact on the rating (s). Such revisions, if any, would be appropriately disseminated by Acuité as required under prevailing SEBI guidelines and Acuité’s policies.

This letter will expire on September 27, 2026 or on the day when Acuité takes the next rating action, whichever is earlier. It may be noted that the rating(s) is subject to change anytime even before the expiry date of this letter. Hence lenders / investors are advised to visit https://www.acuite.in/ OR scan the QR code given above to confirm the current outstanding rating(s).

Acuité will re-issue this rating letter on September 28, 2026 subject to receipt of surveillance fee as applicable. If the rating(s) is reviewed before September 27, 2026 , Acuité will issue a new rating letter.

Please note that under extant SEBI regulations and as per the terms of the rating agreement, once a rating is accepted and outstanding, the issuer is required to promptly furnish the ‘No Default Statement’ on the first working day of every month.

Sd/Chief Rating Officer

This is a system generated document. No signature is required.

Acuité Ratings & Research Limited

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SEBI Registered | RBI Accredited

708, Lodha Supremus, Lodha iThink Techno Campus, Kanjurmarg (East), Mumbai - 400042 | +919930708000 | www.acuite.in | CIN: U74999MH2005PLC155683

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Annexures: A. Details of the Rated Instrument

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Annexure A. Details of the rated instrument	Annexure A. Details of the rated instrument	Annexure A. Details of the rated instrument
Lender's Name	Facilities	Scale	Amt. (Rs. Cr)	Rating Assigned **(Outlook)
INDUSIND BANK LIMITED	Cash Credit	Long-term	5.00	ACUITE BBB+
State Bank of India	Cash Credit	Long-term	55.00	ACUITE BBB+
State Bank of India	Covid Emergency Line.	Long-term	5.00	ACUITE BBB+
BANK OF INDIA (BOI)	Letter of Credit	Short-term	185.00	ACUITE A2
Canara Bank	Letter of Credit	Short-term	50.00	ACUITE A2
INDUSIND BANK LIMITED	Letter of Credit	Short-term	55.00	ACUITE A2
NKGSB Cooperative Bank Ltd	Letter of Credit	Short-term	5.00	ACUITE A2
State Bank of India	Letter of Credit	Short-term	45.00	ACUITE A2
Not Applicable	Proposed Long Term Bank Facility	Long-term	16.00	ACUITE BBB+
BANK OF INDIA (BOI)	Working Capital Term Loan	Long-term	4.00	ACUITE BBB+
Total Facilities			425.00	-

DISCLAIMER

An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy , sell or hold any security. Acuité ratings are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité , in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind arising from the use of its ratings.Acuité ratings are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité , Acuité ’s rating scale and its definitions.

Any inadvertent omission or error in the rating letter which is discovered or brought to the notice of Acuite shall be rectified as soon as reasonably practicable not later than 48 hours of such discovery or notice. Such error or omission shall not render Acuite liable to any person for any kind of loss or damage including, but not limited to, any special, incidental, indirect or consequential damages caused by errors or omissions, provided such omission or error is rectified as soon as possible after discovery/notice.

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