Hindustan Copper Ltd. — Capital/Financing Update 2021

Nov 2, 2021

इन्दुस्तान कॅापर लिमिटेड

HINDUSTAN COPPER LIMITED

CIN No.: L27201WB1967GO1028825

पंजीकृत एवं प्रद्यान कार्यालय Registered & Head Office

THE SET TAMPA BHAVAN 1. आशुतोष चौधरी एवेन्यू 1, Ashutosh Chowdrury Avenue, कोलकाता KOLKATA-700 019

2.11.2021

भारत सरकार का उपक्रम A GOVT, OF INDIA ENTERPRISE

No. HCL/SCY/SE/ 2020

The Sr. General Manager Dept. of Corporate Services BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai 400 001 BSE Scrip Code: 513599

The Vice President Listing Department National Stock Exchange of India Ltd Exchange Plaza, C-1, Block G Bandra-Kurla Complex, Bandra(East) Mumbai 400 051 NSE Symbol: HINDCOPPER

Sir / Madam,

It is informed that ICRA Ltd vide its letter No. ICRA/Hindustan Copper Limited/29102021/1 dated 29.10.2021 (received today) has upgraded the long-term rating to [ICRA]AA+ (pronounced ICRA double A plus) from [ICRA]AA (pronounced ICRA double A) ("Rating"). The Rating Committee of ICRA, after due consideration, has also reaffirmed the short-term rating at [ICRA]A1+ (pronounced ICRA A one plus). The outlook on the long-term rating is Stable.

Further, ICRA Ltd vide its letter No. ICRA/Hindustan Copper Limited/29102021/2 dated 29.10.2021 (received today) has reaffirmed the short-term rating at [ICRA]A1+ (pronounced ICRA A one plus).

Copy each of above letters are enclosed.

The above is submitted pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for information please.

Thanking you,

Yours faithfully,

(C S Singhi) ED (Co Secretary)

Encl. as stated

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ICRA ICRA Limited

ICRA,/Hindunan Coppe. Lituil".nl 29 1 02021 / ¹

Octobet 29,2021

Mr. Ravi l< Gupta

DGM - Finance Hindustan Copper Limited Tamm Bhavan l, Ashutosh Choudhury Avenue Kolkata7000l9

Dear Sir,

Re Surveillalce oI lcRA-assigoed Credit R ting for Rs. 2lOO crore B.nk Frcilities (details as per Annerure) ofHindustxn Copper Lihited

the Rating Committee of ICRA, afler due consideratiorl the rating to I ounced ICRA nced ICRA double "Rati at l+ one u5 Instruments Ratings indicate a high degree ofsafety regdrding timely servicing offi obligations. Such instruments carry very low credit risk. Please refer to the Rating Agreemenrstatement of Work dated October 14, 2O2O executed belween ICRA Limited C{CRA") and youI company, whereby, ICRA is required to r€view its ratings, on an amual basis, or as and when the circumstances warrant. Based on a rcview ofthe latest developments,

ln any of your publiciry malerial or other documenl wherever you are using the above Rating(s), it should be stated as [ICRA]AA+(StabIe)/IICRAIA1+.

The aforesaid Rating(s) willbe due for surveillance any tirhe before October 27, 2022. However, ICRA reserves the right to review and/or, revise the above Rating(s) at any lime on the basis of new information becoming available, or the required information not being available; or other circumstances that ICRA believes could have an impact on the Rating(s). Therefor., request the lenders and lnvestors to visit ICRA website at ! !y.jg&!! for latest Rating(s) of the Company.

The Ratiog(s) are specific to the terms ard conditiorB of the bank facilities as indicated to us by you, and any change in the terms or size ofthe same would requirc a review of th€ Ratjng(s) by us. In case there is any change in the terms and conditions fi the size of the mrid bank facililies lhe same must be brought to our notic€ b€forethe bankfacilities is used by you. ln thc event such changes occur aflerlhe Rating(s) have been assigned by us and their use has been confirmed by you, the Rating(s) would be subject to our review, following which there could be a change in the Rating(s) previously assigned. Not\yirhstanding the foregoin& any change in the over-all limit ofthe bankfacilities from that specified in the first paragraph of this letter would constitute an eniancement that would Dot be covercd by or under the said Rating Ageement.

The Ratiog(s) assigned must be understood solely as an opinion and should not be treated, or cause lo be treated, as recommendation to buy, sell, or hold the iared [l[strument] availed,/issued by your company.

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NATING.	RESEARCH .	INFOR]tIATION

You are also requested to forthwith inform us about any default or delay in repayment ofinterest or principal arnount of the insmrment rated, as above, or any other debt instruments/ borowing and keep us informed of any other developments which may have a direct or indirect impactonthe dcbtseryicing capability of the company including any proposal for re-schedulement or postponement of the repayment programmes of the duev debts of the company with any lender(s) / investo(s). Further, you are requested to infonn us immediately as and when the bomowing limit for the instrument raled, as above, or as prescribed by the regulatory authority(ies) is exceeded.

We look fiorward to your communication and ilssure you ofour best services.

With kind regards,

Yous sincerely, For ICRA Limited

JAYANTA ROY 2021.1 0.29 1 2:40:53 +05'30'

Jayarta Roy Senior Vicc President iavantar@icraindia-com

Annexure

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Rated on Long Term Scale
Bank	Facility	Amount (Rs Crore)	Rating	Assigned on
State Bank of India		175.00
Punjab National Bank		29.00		October 28, 2021
HDFC Bank		60.00
Axis Bank	Fund Based Facilities	75.00	$[ICRA]AA+$ (Stable)
ICICI Bank		10.00
Indian Overseas Bank		1.00
Total		350.00
Bank	Facility	Amount	Rating	Assigned on
		(Rs Crore)
Exim Bank		210.00
State Bank of India		176.00
Punjab National Bank		98.00	$[ICRA]AA+$ (Stable)
HDFC Bank	Term Loan	77.50		October 28, 2021
Axis Bank		95.00
Federal Bank		120.00
Bank of India		100.00
Total		876.50
Rated on both Long Term and Short-Term Scales
$D = L$	The ANIMAL	$\pm$ - and in the set of $\pm$

Bank	Facility	Amount (Rs Crore)	Rating	Assigned on
Unallocated	Fund Based	723.50	[ICRA]AA+(Stable)	Cctober 28, 2021
Total	Facilities	723.50	/[ICRA]A1+

Rated on Short Term Scale
Bank	Facility	Amount (Rs Crore)	Rating	Assigned on
State Bank of India	Non-Fund Based Facilities	50.00	[ICRA]A]	October 28, 2021
HDFC Bank		20.00
Axis Bank		40.00
ICICI Bank		40.00
Total		150.00

Received today $\frac{1}{2}\pi n^{2\nu}$
ICRA Limited

ICRA/Hindustan Copper Limited/29102021/2

October 29, 2021

Mr. Ravi K Gupta DGM - Finance Hindustan Copper Limited Tamra Bhavan 1, Ashutosh Choudhury Avenue Kolkata 700019

Dear Sir.

Surveillance of ICRA-assigned Credit Rating for Rs. 100.0 crore Commercial Paper (CP) Re: Programme of Hindustan Copper Limited

Please refer to the Rating Agreement/Statement of Work dated April 26, 2017 executed between ICRA Limited ("ICRA") and your company, whereby, ICRA is required to review its ratings, on an annual basis, or as and when the circumstances warrant. Based on a review of the latest developments, the Rating Committee of ICRA, after due consideration, has reaffirmed the short-term rating at [ICRA]A1+ (pronounced ICRA A one plus). Instruments with above Ratings indicate a high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit $T$ isk.

In any of your publicity material or other document wherever you are using the above Rating(s), it should be stated as [ICRA]A1+.

The aforesaid Rating(s) will be due for surveillance any time before January 28, 2023. However, ICRA reserves the right to review and/or, revise the above Rating(s) at any time on the basis of new information becoming available, or the required information not being available, or other circumstances that ICRA believes could have an impact on the Rating(s). Therefore, request the lenders and Investors to visit ICRA website at www.icra.in for latest Rating(s) of the Company

The Rating(s) are specific to the terms and conditions of the CP as indicated to us by you, and any change in the terms or size of the same would require a review of the Rating(s) by us. In case there is any change in the terms and conditions or the size of the rated CP the same must be brought to our notice before the CP is used by you. In the event such changes occur after the Rating(s) have been assigned by us and their use has been confirmed by you, the Rating(s) would be subject to our review, following which there could be a change in the Rating(s) previously assigned. Notwithstanding the foregoing, any change in the over-all limit of the bank facilities from that specified in the first paragraph of this letter would constitute an enhancement that would not be covered by or under the said Rating Agreement.

The Rating(s) assigned must be understood solely as an opinion and should not be treated, or cause to be treated, as recommendation to buy, sell, or hold the rated CP Programme availed/issued by your company.

Additionally, we wish to highlight the following with respect to rhe Raring:

• (a) Ifthe instrument rated, as above, is not issued by you within a period of3 months from the date ofthis letter, the Rating(s) would need !o be revalidat€d b€fore issuance;
• (b) Our Rating(s) is valid ftom the date of this letter till laIlrary 28,2023- The Rating(s) will generally be due for r€view at the end ofthe Validity Period. The maturiry dare of CP/CD/STD shall not be after lhe end ofthe Validity Period, The CP/STD will have a maximum maturiry of twelve months,

The Rating(s), as aforesaid, however, should not be treated as a recommendation to buy, sell or hold CP/ STD issued by you. The Rating(s) is restricted to your CP programme/CD/ STD size ofRs. I00.0 crore only. In case, you propose to enlance the size of the CP/ CD/ STD programme, the same would require to & mted afresh. ICRA does not assume any responsibility on its part, for any liability, that may arise consequent to your not complying with any eligibility criteri4 applicable from time to time, for issuance of CP/CD/ STD.

You are also requested to forthwith infonn us aboul any default or delay in repayment of interest or principal amount of the irlstrument rated, as ahve, or any other debt instruments/ boftowing and keep us informedofany other developments which may have a direct or indirect impact on the debt servicing capability of the company including any proposal for re-schedulement or poslponemen! of the repayment prograrnmes oflhe duey debts ofthe company wilh any lende(s) / investo(s). Further, you are rcquested lo inform us immediately as aid when the borowing llmit for the instrument rated, as above, or as prescribed by the regulatory authority(ies) is exceeded.

we look forward to your communication and assure you ofour best services,

With kind regards,

Yours sincerely, For ICRA Limited

JAYANTA ROY 2021.10.29 I 2:41 :32 +05'30'

Jayanta Roy Senior vice President iavanta@icmindia.com