Pokarna Ltd. — Capital/Financing Update 2024

Mar 27, 2024

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Date: 27[TH] March,2024

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort Mumbai – 400001.

Scrip Code: 532486

National Stock Exchange of India Ltd Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai – 400051.

Symbol: POKARNA

Dear Sir/ Madam,

• Sub: Review of CRISIL Ratings on the bank facilities of the Company and its Material Wholly Owned Subsidiary.

• Ref.: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR”).

Reference the captioned subject and mentioned reference, this is to inform you that as per the latest review of credit rating done by CRISIL, the credit rating of the Company and Pokarna Engineered Stone Limited, material wholly owned subsidiary of the Company is as follows:

Pokarna Limited

Total Bank Loan Facilities Rated	Rs. 34.98 crores
Long Term Rating	CRISIL A-/Stable
Short Term Rating	CRISIL A2+

CIN: L14102TG1991PLC013299

Registered and Corporate Office: Surya Towers, 105, Sardar Patel Road, Secunderabad 500 003, Telangana, India. Phone : +91 40 6631 0111, Email : contact@pokarna.com, Web : www.pokarna.com

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Pokarna Engineered Stone Limited

Total Bank Loan Facilities Rated	Rs. 370 crores
Long Term Rating	CRISIL A-/Stable
Short Term Rating	CRISIL A2+

Please find enclosed review letters issued by CRISIL with respect to the same.

We request you to kindly take the above on record.

Thanking you,

For Pokarna Limited

DISHA Digitally signed by DISHA JINDAL JINDAL Date: 2024.03.27 14:21:09 +05'30'

DISHA JINDAL Company Secretary & Compliance Officer

Encl: a/a

CIN: L14102TG1991PLC013299

Registered and Corporate Office: Surya Towers, 105, Sardar Patel Road, Secunderabad 500 003, Telangana, India. Phone : +91 40 6631 0111, Email : contact@pokarna.com, Web : www.pokarna.com

CONFIDENTIAL

RL/PGLTD/339526/BLR/0324/82462 March 27, 2024

Mr. Gautam Chand Jain

Chairman & Managing Director Pokarna Limited First Floor, Surya Towers Sardar Patel Road Hyderabad - 500003

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Dear Mr. Gautam Chand Jain,

Re: CRISIL rating on the bank facility(ies) of Pokarna 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 as on date.

Total Bank Loan Facilities Rated	Rs.34.98 Crore
Long Term Rating	CRISIL A-/Stable
Short Term Rating	CRISIL A2+

(Bank-wise details as per Annexure 1)

CRISIL Ratings also disseminates the rating on the bank facilities through its website and updates the rating lists on CRISIL Ratings’ website on a real time basis. Additionally, the rating lists in its publications such as Rating Scan and BLR Connect are also updated to reflect the latest ratings outstanding on the bank loan facilities. CRISIL Ratings reserves the right to withdraw, or revise the ratings/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.

This letter will remain valid till March 31, 2025. After this date, please insist for a new rating letter (dated later than March 31, 2025). Please visit www.crisilratings.com to confirm that the rating continues to be under surveillance and the rating is still valid.

Should you require any clarifications, please feel free to contact us.

With warm regards,

Yours sincerely,

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Nagarjun Alaparthi 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.crisilratings.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 visit www.crisilratings.com or contact Customer Service Helpdesk at CRISILratingdesk@crisil.com or at 1800267-1301

____________ Regist

CRISIL Ratings Limited A subsidiary of CRISIL Limited, an S&P Global Company Corporate Identity Number: U67100MH2019PLC326247

ered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001 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	Export PackingCredit	Union Bank of India	20	CRISIL A2+
2	Foreign CurrencyTerm Loan	Union Bank of India	4.98	CRISIL A-/Stable
3	Foreign Documentary Bills Purchase	Union Bank of India	5	CRISIL A2+
4	Letter of Credit	Union Bank of India	5	CRISIL A2+
	Total		34.98

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.crisilratings.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 visit www.crisilratings.com or contact Customer Service Helpdesk at CRISILratingdesk@crisil.com or at 1800267-1301

A subsidiary of CRISIL Limited, an S&P Global Company Corporate Identity Number: U67100MH2019PLC326247

____________ Regist

CRISIL Ratings Limited

ered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001 www.crisilratings.com

CONFIDENTIAL

RL/PNAESL/339495/BLR/0324/82461 March 27, 2024

Mr. Vishwanath Reddy

Authorised Signatory Pokarna Engineered Stone Limited 105, Surya Towers S P Road Hyderabad - 500003

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Dear Mr. Vishwanath Reddy,

Re: CRISIL rating on the bank facility(ies) of Pokarna Engineered Stone 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 as on date.

Total Bank Loan Facilities Rated	Rs.370 Crore
Long Term Rating	CRISIL A-/Stable
Short Term Rating	CRISIL A2+

(Bank-wise details as per Annexure 1)

CRISIL Ratings also disseminates the rating on the bank facilities through its website and updates the rating lists on CRISIL Ratings’ website on a real time basis. Additionally, the rating lists in its publications such as Rating Scan and BLR Connect are also updated to reflect the latest ratings outstanding on the bank loan facilities. CRISIL Ratings reserves the right to withdraw, or revise the ratings/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.

This letter will remain valid till March 31, 2025. After this date, please insist for a new rating letter (dated later than March 31, 2025). Please visit www.crisilratings.com to confirm that the rating continues to be under surveillance and the rating is still valid.

Should you require any clarifications, please feel free to contact us.

With warm regards,

Yours sincerely,

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Nagarjun Alaparthi Associate Director - CRISIL Ratings

==> picture [81 x 31] intentionally omitted <==

Nivedita Shibu Associate Director - CRISIL Ratings

==> picture [54 x 53] intentionally omitted <==

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.crisilratings.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 visit www.crisilratings.com or contact Customer Service Helpdesk at CRISILratingdesk@crisil.com or at 1800267-1301

____________ Regist

CRISIL Ratings Limited A subsidiary of CRISIL Limited, an S&P Global Company Corporate Identity Number: U67100MH2019PLC326247

ered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001 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	Foreign Bill Discounting	Union Bank of India	105.25	CRISIL A2+
2	Letter of Credit	Union Bank of India	25	CRISIL A2+
3	LongTerm Loan	Union Bank of India	239.75	CRISIL A-/Stable
	Total		370

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.crisilratings.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 visit www.crisilratings.com or contact Customer Service Helpdesk at CRISILratingdesk@crisil.com or at 1800267-1301

A subsidiary of CRISIL Limited, an S&P Global Company Corporate Identity Number: U67100MH2019PLC326247

____________ Regist

CRISIL Ratings Limited

ered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001 www.crisilratings.com