Jindal Worldwide Ltd. — Capital/Financing Update 2019

Aug 29, 2019

Date: 29th AuBust, 2019

To, NationalStock Exchange of lndia Limited Exchange Plaza Plot no. C/1, G Block Bandra- Kurla Complex, Bandra (E) Mumbai - 400 051 NSE Company Code: JINDWORLD

To,

The Bombay Stock Exchange-Limited Listing Department PhirozJeejeebhoy Tower, 25th Floor, Da lal Street Mumbai - 400 001 BSE Company Code: 5315-43

Ref: Annual Review of Ratinss of Bank Loan facilities of Jindal Worldwide Limited

gU!igg!: Disclosure under Schedule lll Part A of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding Review in Credit Rating by "BRICKWORK RATINGSINDlA PRIVATE tIMITED"

Dear Sir/Ma'am,

With reference to above and pursuant to compliance of Schedule lll- Part A of Regulation 30 of the SEBl (ListinB Obligations and Disclosure Requirements) Regulations, 2015, this ls to hereby kindly inform you that the nnnual Review of the Credit Rating of the Company's Bank Loan Facilities amounting to Rs. 560.19 Crores have been reaffirmed as follows:

Facilities	Previous Limit (Rs. in Crores)	Current Limits (Rs. in Crores)	Tenu re	Previous Rating (July, 2018)	REVIEW RATINGS
Fund Based:	438.90	410.19		BWR AA-	BWR AA" (Pronounces as BWR Double A Minus) (Reaffirmed Outlook- Stable)
CCIWCDL	2 50.00	250.00	Long	(Pronounces as BWR Oouble A Minus)
TL	188.90	160.19	Teim
Non Fund	151.00	150.00		BWR 41+	BWR A1+
Based:			Short	(Pronounced as	(Pronounced as BWR A One Plus) Reaffirmed
tC	151.00	150.00	Term	BWR A One Plus)
Total	589.90	560.19	G.rGtrunaie@

Please find attached herewith the Letter of Annual Review of Ratings of the Company's Bank Loan Facilities as received from "BRICKWORK RATINGS INDIA PRIVATE L|M|TED" dated 28'h August, 2019 for your reference and records.

You are kindly requested to acknowledge and update the same in your records.

Thanks & Regards ForJindalJflorl pliance Officer)

'Jindal Corporate House' Opp. D-mart, l.O.C. Petrol Pump Lane, Shivranjani Shyamal 132 Ft. Ring Road, Satellite, Ahmedabad-38oo1 5. lNDIA. Tel:079-71001500 Email: sales@indaltextiles.com Website : wwwjindaltextiles.com GIN U 711oGJl g86PLcoo8942

Brickwork Ratings India Pvt. Ltd.

3rd Floor, Raj Alkaa Park, Kalena Agrahara, Bannerghatta Road, Bengaluru - 560 076 P: +91 80 4040 9940 I F: +91 80 4040 9941

BWR/BLR/HO/SRC/VS/2374/2o19-2o 28 Aug 2019

Mr. Yamunadutt Agarwal Chairman Jindal Worldwide Ltd Jindal House, Opp D Mart, IOC Petrol Pump Lane, Shivranjani To Shyamal 132ft, Ring Road, Satellite,Ahmedabad-380015, Gujarat

Dear Sir,

Sub: Annual Review of Ratings of Bank Loan Facilities of Jindal Worldwide Ltd aggregating 560.19 Crores. (k Five Hundred and Sixty Crores and Nineteen Lakhs Only)

Ref: BWR rating letter dated 25July2o18

On Annual review of Jindal Worldwide Ltd performance based on the information and clarifications provided by you, and as available in public sources, we are pleased to inform you that the ratings of Jindal Worldwide Ltd Bank Loan Facilities amounting to T560.19 crores have been reaffirmed as follows:

Facility	Previous Limits Z Crores	Present Limits t Crores	Tenure	Rating History (July, 2019)	Review Ratings*
Fund Based	438.90	410.19	Long Term	BWR AA Pronounced as BWR Double A Minus Outlook:Stable	BWR AA Pronounced as BWR Double A Minus Reaffirmed Outlook:Stable
Non-Fun d Based	151.00	150.00	Short Term	BWR Ai+ Pronounced as BWR A One Plus	BWR Ai+ Pronounced as BWR A One Plus Reaffirmed
Total	589.90	560.19		Z Five Hundred and Sixty Crores and Nineteen Lakhs Only

*For definition of the ratings please refer to our website www.brickworkrafings.rom Note: Details of bank wise facilities is as per Annexure-I

SEBI Registered RBI Accredited NSIC Empanelled

Jindal Worldwide Ltd

The Ratings are valid for twelve months from this letter and subject to terms and conditions as per your mandates letter dated 02 Jul 2018 and other correspondence, if any and Brickwork Ratings' standard disclaimer appended at the end of this letter. You are requested to provide No Default statement on a monthly basis.

The rated bank loan facilities would be under surveillance during the said period. You are required to submit information periodically as per Annexure-II for the purpose of surveillance/review. You are also required to keep us informed of any information/ development that may affect your Company's finances/performance without any delay.

Best Regards,

c)P a Shankar senior Director - Ratings

Note: Rating Rationale of all accepted Ratings are published on Brickwork Ratings website. All non-accepted ratings are also published on Brickwork Ratings web-site . Interested persons are well advised to refer to our website www.brickworkratiugs.com, If they are unable to view the rationale, they are requested to inform us on hrickworkh elpObrickworkrating,s-rom

Disclaimer: Brickwork Ratings (BWR) has assigned the rating based on the information obtained from the issuer and other reliable sources, which are deemed to be accurate. BWR has taken considerable steps to avoid any data distortion; however, it does not examine the precision or completeness bf the information obtained. And hence, the information in this report is presented "as is" without any express or implied warranty of any kind. BWR does not make any representation in respect to the truth or accuracy of any such information. The rating assigned by BWR should be treated as an opinion rather than a recommendation to buy, sell or hold the rated instrument and BWR shall not be liable for any losses incurred by users from any use of this report or its contents. BWR has the right to change, suspend or withdraw the ratings at any time for any reasons.

SEBI Registered RBI Accredited NSIC Empanelled

Jindal Worldwide Ltd Annexure-I Details of Bank Facilities Crores

	Previous				Current
Limits	FB		NFB		FB		NFB
Bank	CC/WC DL	TL	LC	Previous Limits		CC/WCDL TL (As on 31.07.19)	LC	Current Limits
SBI	35.00	55.13	11.00	101.13	35.00	44.09	11.00	90.09
SOY (Lead)	50.00	33.26	16.00	99.26	62.00	25.08	15.00	102.08
IOB	50.00	2.00	18.00	70.00	50.00	1.39	18.00	69.39
SCB	12.00	0.00	40.00	52.00	0.00	0.00	12.00	12.00
Indusind Bank	5.00	0.00	45.0o	50.00	5.00	0.00	73.00	78.00
UBI	35.00	0.00	15.00	50.00	35.00	0.00	15.00	50,00
OBC	20.00	8.92	6.00	34.92	20.00	6.26	6.00	32.26
Saraswat Bank	30.0o	3.70	0.00	33.70	30.00	2.6o	0.00	32.60
PNB	10.0o	21.17	moo	31.17	10.0o	17.08	0.0o	27.08
Doha Bank Outside Consortium	0.00	25.00	0.00	25.00	0.00	0,00	0.00	0.00
Corporation Bank	0.00	23.00	0.00	23.00	0.00	20.19	0.00	20.19
BOM	3.00	10.15	0.00	13.15	3.00	8.33	0.00	11.33
Allahabad bank	0.00	6.57	0.00	6.57	0.00	5.17	0.00	5.17
Indusind Outside Consortium	0.00	0.00	0.00	0.00	0.00	30.00	0.00	30.00
Total		250.00 188.90	151.00	589.90	250.00	160.19	150.00	560.19

Page 3 of 4

SEBI Registered RBI Accredited NSIC Empanelled

Jindal Worldwide Ltd

Annexure4I

The following documents/ information should be submitted to BWR:

• 1. Confirmation from the Company that all the terms and conditions stipulated in the Bank's Term loan sanction letter has been fully complied with.
• 1. Certified copy of periodical book debts/bills receivables statements submitted to the bank.
• 1. Confirmation about payment of installment and interest as and when paid.
• 1. Schedule of Term Loan installments and Interest due and payment made so far.
• 1. Certified copy of Quarterly Information Statements (QIS) and Half Yearly Information Statements (HYIS) submitted to the bank.
• 1. Certified copy of Banks' Statements of Accounts on a quarterly basis.
• 1. Quarterly / Half yearly financial statements (unaudited or with limited review) and Annual financial statements (provisional as well as audited).
• 1. Information on delays/defaults in servicing bank loans, letters of credit, letters of guarantee, NCDs, bonds and other borrowings, if any, by the Company as at the end of March, June, September and December each year.
• 1. Information on delays / defaults in servicing of debt obligations of any subsidiary/other group companies, if any, as at the end of March, June, September and December each year.
• 1. Any other statement / information sought by BWR from time to time.
• ii. All the aforesaid information shall be mailed to dat brickworkratin :s.