Indo Count Industries Ltd — Capital/Financing Update 2021

Mar 18, 2021

Com plete Comfort

18th March, 2021

National Stock Exchange of India ltd. Listing Department Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400051

BSELimited

Department of Corporate Services Floor 25, Phiroze Jeejeebhoy Towers, Dalal Street, Mumba; - 400 001

Scrip Code: 521016

Company Symbol: ICIl

Dear Sir/Madam,

Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Discfosure ReQuirements) Regulations, 2015 - Expansion & Modernisation projects of existing capacities with CAPEXof Rs. 200 crores

With reference to the captioned subject, we wish to inform that the Project Management Committee of the Board of Directors of the Company at its meeting held today i.e. on 18th March, 2021 has approved expansion of its bed linen capacity by - 20% from its existing annual capacity of 90 Mn meters to 108 Mn meters by debottlenecking and balancing its facilities. Further, the Company proposes to make a brownfield investment for adding commensurate cut & sew facilities and for enhancing the capacity for Top ofthe Bed (TOB) products. This will entail a capex of - Rs.150 crores.

The existing spinning unit will also be modernized with compact spinning technology. This will entail a capex of Rs. - SO crores. Post modernization, this capacity will also be used for captive consumption in the company's home textiles unit.

The total capex will be - Rs.200 crores and wiff be funded by a mix of internal accruals and debt and is expected to be operational in H2 of FY2022.

The home textiles plant is operating almost at its full capacity. Considering the increasing demand and growing business volume, it was decided to undertake expansion and modernization. These investments are expected to increase the revenue by - Rs.600 crores over the next 2 years, post commissioning.

The Investor PressReleaseon the Capex is enclosed.

Kindly take the above information on record.

Thanking you,

Yours faithfully, For Indo Count Industries Limited

Amruta Avasare Company Secretary & Compliance Officer Membership No: A18844

Encl:A/a

Indo Count Industries Ltd

Head Office: 301,Arcadia, 3rd Floor, Nariman Point, Mumbai - 400 021, Maharashtra, India; T: 0224341 9500, F: 02222823098 Marketing Office: Dosti Imperia, 2nd floor, Manpada, Ghodbunder Road, Thane (w) - 400 607, Maharashtra, India; T: 02241511800, F: 02221720121 Home Textile Division:T3, Kagal- Hatkananqale Five Star, MIDC Ind. Area, Kolhapur - 416216, Maharashtra, India;T: 0231 6627900, F: 0231 6627979 Spinning Division: D1, MIDC, Gokul Shirgaon, Kolhapur - 416234, Maharashtra, India;T: 0231 2687400, F: 0231 2672161 Regd. Office' Office No.1, Plot No. 266, Village Alte, Kumbhoj Road,TalukaHatkanangale, Dist. Kolhapur - 416 109, Maharashtra, India;T: 0230 2463100/2461929 CIN: L72200PN1988PLC068972, E: info@indocount.com, W: www.indocounl.com

Investor Release

Indo Count Plans Brownfield Expansion/Modernization of existing capacities with capex of Rs. 200 crores

Mumbai, 18th March 2021: Indo Count Industries Ltd., one of India's largest Home Textile manufacturer, today announced that the Project Management Committee of the Board of Directors of the Company has approved expansion of its bed linen capacity by ~ 20% from its existing annual capacity of 90 Mn meters to 108 Mn meters by debottlenecking and balancing its facilities. Further, it proposes to make a brownfield investment for adding commensurate cut & sew facilities and for enhancing the capacity for Top of the Bed (TOB) products. This will entail a capex of ~ Rs. 150 crores.

The existing spinning unit of the Company will also be modernized with compact spinning technology. This will entail a capex of ~ Rs. 50 crores. Post modernization, this capacity will also be used for captive consumption in the home textiles unit.

These investments are expected to increase the revenue by ~Rs. 600 crores over the next 2 years, post commissioning.

The total capex will be ~ Rs. 200 crores and will be funded by a mix of internal accruals and debt and is expected to be operational in H2 of FY 2022.

Commenting on the above, Mr. Anil Kumar Jain, Executive Chairman of Indo Count Industries said, "These investments will lay foundation for the next phase of growth for the Company. The investment in modernization and technological upgradation will further enhance our product offering capabilities to our customers and grow the market share of the Company in bedding products category."

About Indo Count Industries Ltd.

Indo Count Industries Ltd (ICIL), is one of India's largest Home Textile manufacturer. Mr. Anil Kumar Jain, Executive Chairman, has been ranked 10th amongst the India's Best Top 100 CEO's 2017 by Business Today. Under his leadership, the Company has focused on some of the world's finest fashion, institutional and utility bedding & sheets and has built significant presence across the globe. Over the years, the Company has successfully carved out a niche for itself and has become a total bedding resource. The company's annual capacity is 90 million meters.

CARE's credit rating is CARE A+ (Single A Plus; Outlook: Stable) for Company's Long-Term Bank Facilities and CARE A1 (Single A One) for Short Term Bank Facilities. ICRA's credit rating is ICRA A+ (Single A plus; Outlook Positive) for Company's Long-Term Bank Facilities and ICRA A1+ (A one plus) for Short Term Bank facilities.

Safe Harbor Statement

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

For further information, please contact:
	Investor Relations Advisors:
Indo Count Industries Limited CIN: L72200PN1988PLC068972	Strategic Growth Advisors Pvt. Ltd. CIN: U74140MH2010PTC204285
Mr. K R Lalpuria	Mr. Shogun Jain / Ms. Ami Parekh
Executive Director & C.E.O kklalpuria@indocount.com	shogun.jain@sgapl.net / ami.parekh@sgapl.net
Mr. K. Muralidharan	+91 7738377756 / +91 80824 66052
Chief Financial Officer k.muralidharan@indocount.com	Public Relations Advisors:
www.indocount.com	Strategic Growth Advisors PR Ms. Purvi Shah purvi.shah@sgapl.net
	+91 9833431331
	www.sgapl.net 2