NCC Limited — Capital/Financing Update 2020

Apr 1, 2020

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Ref.No.: NCCL/SEBI (LODR ) Reg.30 / 2020-21

Date : 01-04-2020

The Secretary The Secretary National Stock Exchange of India Ltd BSE Limited, 5[th] Floor, Exchange Plaza Rotunda Building, P J Towers Bandra – Kurla Complex Dalal Street, Fort Bandra (E) M U M B A I – 400 001. MUMBAI - 500 051.

Dear Sir(s),

Scrip Code : NSE: NCC & BSE : 500294

Sub: Intimation regarding Revision in rating :

In compliance with the provisions of Regulation 30 of the SEBI (LODR) Regulations we are to inform that the credit Rating assigned by ICRA Limited has been revised. In accordance with the said Regulation 30 we have furnished hereunder the requisite details:

Nature of Facilities	Existing Rating	Revised Rating	Reasons for Revisionin the Rating
Fund based and nonFund Based LimitsandUnallocatedLimits sanctioned tothe Company	(ICRA ) ‘ A’	(ICRA ) ‘ A-’	a) Prolonged delayin resolution ofthestuckprojects in theState of AndhraPradesh(AP)andtheresultantbuildupofthereceivables andunbilledrevenues.

b) The rating revision also factors in the 30% decline in the operating income and profit after tax upto the end of the 3[rd] Quarter in the FY 201920 on YoY basis and the reduction in the coverage indicators.

Request you to kindly take note of the same.

Thanking you,

Yours faithfully For NCC LIMITED. Sd/-

M V Srinivasa Murthy Company Secretary & EVP (Legal)

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