Jindal Drilling & Industries Ltd. — Capital/Financing Update 2021

Jul 30, 2021

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JDIL/SECT/2021-2022/ July 30, 2021

BSE Ltd National Stock Exchange of India Limited 25th Floor, P.J. Towers, Exchange Plaza, C-1, Block-G Dalal Street, Mumbai-400 001 Bandra-KurlaComplexs Security Code: 511034 Bandra (E), Mumbai – 400 051 Security Code: JINDRILL

Sub: Credit Ratings

Dear Sirs,

Below mentioned are the details of the ratings for the company assigned by CRISIL:

Total Bank Loan Facilities Rated	Rs. 511 Crore
Long Term Rating	CRISIL A-/Stable (Reaffirmed)
Short Term Rating	CRISIL A2+ (Reaffirmed)

You are requested to kindly take the same on record.

Thanking you,

For Jindal Drilling and Industries Limited

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(Saurabh Agrawal) Company Secretary

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CONFIDENTIAL

RL/JINDRIL/275186/BLR/0721/14439 July 30, 2021

Mr. Pawan Rustagi Chief Financial Officer

Jindal Drilling and Industries Limited

3rd Floor, Keshava Building Bandra Kurla Complex, Bandra East Mumbai City - 400051 9810039690

Dear Mr. Pawan Rustagi,

Re: Review of CRISIL Ratings on the bank facilities of Jindal Drilling and 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	Rs.511 Crore(Enhanced from Rs.461 Crore)
Long Term Rating	CRISIL A-/Stable(Reaffirmed)
Short Term Rating	CRISIL A2+(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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Ankit Kedia 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.

(A subsidiary of CRISIL Limited) Corporate Identity Number: U67100MH2019PLC326247

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CRISIL Ratings Limited

___ Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: +91 22 3342 3000 | Fax: +91 22 4040 5800 www.crisilratings.com

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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	Bank Guarantee	IndusInd Bank Limited	160	CRISIL A2+
2	External Commercial Borrowings	IndusInd Bank Limited	39	CRISIL A-/Stable
3	External Commercial Borrowings	IndusInd Bank Limited	190	CRISIL A-/Stable
4	Fund-Based Facilities	IndusInd Bank Limited	0.5	CRISIL A-/Stable
5	Fund-Based Facilities	HDFC Bank Limited	11.5	CRISIL A-/Stable
6	Fund-Based Facilities	ICICI Bank Limited	1.9	CRISIL A-/Stable
7	Fund-Based Facilities	State Bank of India	10	CRISIL A-/Stable
8	Non-Fund Based Limit	State Bank of India	9.4	CRISIL A2+
9	Non-Fund Based Limit	ICICI Bank Limited	20	CRISIL A2+
10	Non-Fund Based Limit	HDFC Bank Limited	30	CRISIL A2+
11	Non-Fund Based Limit	State Bank of India	37.6	CRISIL A2+
12	Proposed Long Term Bank Loan Facility	--	1.1	CRISIL A-/Stable
	Total		511

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.

CRISIL Ratings Limited (A subsidiary of CRISIL Limited) Corporate Identity Number: U67100MH2019PLC326247

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___ Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: +91 22 3342 3000 | Fax: +91 22 4040 5800 www.crisilratings.com