Unichem Laboratories Ltd. — Capital/Financing Update 2021

Jan 8, 2021

==> picture [190 x 43] intentionally omitted <==

January 8, 2021

Department of Corporate Services

Mr. Hari K.

Bombay Stock Exchange, Asst. Vice President - Operations Phiroze Jeejeebhoy Towers, National Stock Exchange of India Ltd. Dalal Street, Exchange Plaza, Bandra Kurla Complex, Mumbai – 400 001. Bandra (East), Mumbai – 400 051.

Ref: BSE Scrip Code – 506690 : NSE Symbol – UNICHEMLAB

Dear Sir,

Reference: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

ICRA – assigned credit rating for Rs. 146 crs (Reduced from Rs. 150 crs) bank facilities

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we would like to inform that ICRA, the credit rating agency has reaffirmed the long-term rating on the Rs. 146 crs bank facilities of the Company to [ICRA] A (pronounced ICRA A). The outlook on the long term rating has been revised to stable from negative.

Please find the letter dated January 7, 2021 issued by ICRA in this regard.

Kindly take the above on record.

For UNICHEM LABORATORIES LIMITED

PRADEEP Digitally signed by PRADEEP BHANDARI BHANDARI Date: 2021.01.08 14:47:34 +05'30' PRADEEP BHANDARI Head - Legal & Company Secretary

Registered Office: Unichem Bhavan, Prabhat Estate, Off S. V. Road Jogeshwari (West), Mumbai – 400 102, Maharashtra, India.

ICRA Limited

==> picture [136 x 64] intentionally omitted <==

CONFIDENTIAL

Ref: MUM/20-21/2792

Date: January 07, 2021

Mr. Sandeep Ghume

Dy. Chief Financial Officer

Unichem Laboratories Limited Unichem Bhavan, Prabhat Estate, Off S.V.Road, Jogeshwari (West) Mumbai – 400 102

Dear Sir,

Re: Surveillance of ICRA-assigned Credit Rating for Rs. 146.00 crore (reduced from Rs 150.00 crore) bank facilities of Unichem Laboratories Limited (instrument details in Annexure )

Please refer the Rating Agreement dated August 05, 2019 and RRF No. MUM/2018-19/372 dated August 02, 2019 between ICRA Limited (“ICRA”) and your company, whereby, ICRA is required to review the ratings assigned to your company on an annual basis or as and when the circumstances so warrant.

Please note that the Rating Committee of ICRA, after due consideration, has reaffirmed the long-term rating for the captioned Line of Credit (LOC) at [ICRA]A (pronounced ICRA A)[†] . The outlook on the long-term rating has been revised to Stable from Negative.

The aforesaid ratings will be due for surveillance anytime before September 2021.

The rating(s) assigned must be understood solely as an opinion and should not be treated, or cause to be treated, as recommendation to buy, sell, or hold the rated bank facility availed by your company.

The ratings as stated above are specific to the terms and conditions of the LOC as indicated to us by you. In case there is any change in the terms and conditions, or the size of the rated LOC, the same must be brought to our notice immediately. Any such change would warrant a rating review, following which there could be a change in the ratings assigned. Notwithstanding the foregoing, any change in the over-all limit of the LOC from that specified in the first paragraph of this letter would constitute an enhancement that would not be covered by or under the said Rating Agreement.

ICRA reserves the right to review and/or, revise the above rating at any time on the basis of new information or unavailability of information or such other circumstances, which ICRA believes, may have an impact on the rating assigned to you.

You are requested to furnish a monthly ‘No Default Statement (NDS)’ (in the format enclosed) on the first working day of every month, confirming the timeliness of payment of all obligations against the rated debt programme [interest and principal obligations for fund based as well as obligations under LOC/BG for non-fund based facility]. This is in accordance with requirements prescribed by the Securities and Exchange Board of India (“SEBI”) vide circular dated June 30, 2017.

† For complete rating definition please refer to ICRA Website www.icra.in or any of the ICRA Rating Publications

==> picture [482 x 75] intentionally omitted <==

==> picture [131 x 62] intentionally omitted <==

You are also requested to inform us forthwith of any default or delay in the payment of interest and/or principal against the rated debt programme, or any other debt instruments and/or borrowings of your company. Further, you are requested to keep us informed of any other developments that could have a direct or indirect impact on the debt servicing capability of your company, with such developments including, but not limited to, any proposal for re-schedulement or postponement of repayment against any dues and/or debts of your company with any lender(s) and/or investor(s).

We thank you for your kind co-operation extended during the course of the rating exercise. Please let us know if you need any clarification.

We look forward to further strengthening our existing relationship and assure you of our best services.

With kind regards,

Yours sincerely, for ICRA Limited

Subrata Ray Senior Group Vice President subrata@icraindia.com

==> picture [136 x 65] intentionally omitted <==

‘No Default Statement on the Company Letter Head’

To,

ICRA Limited Building No. 8, 2nd Floor, Tower A, DLF Cyber City, Phase II, Gurugram -122002

Dear Sir/ Madam,

1. We hereby confirm that as on date there are no overdues or default on our listed debt obligations. (Securities).

2. We hereby confirm that as on date there are no overdues or default on our unlisted debt obligations. (Securities).

3. We also confirm that in the month ended < >, there has been no instance of delay in servicing of our listed debt obligations (Securities).

4. We also confirm that in the month ended < >, there has been no instance of delay in servicing of our un-listed debt obligations(Securities).

5. We also confirm that in the month ended <> , there has been no instance of delay in servicing of debt obligations guaranteed by us.

6. We hereby confirm that as on date and in the month ended <> there are no over dues or default on payment of interest/installment obligations on loans from banks/financial institutions.

7. We hereby confirm that as on date there are no over dues or default on payment of interest/installment obligations on loans from banks/financial institutions which continues beyond 30 days.

8. We hereby confirm that as on date there are no over dues or default on revolving facilities like cash credit, from banks/financial institutions which continues beyond 30 days.

9. We also confirm that there is no amount remaining unpaid for more than 30 days from the invocation of the bank guarantee facilities or devolvement of Letters of Credit as on date / in the month ended << Month and Year name >> We also confirm that there has not been any instance of devolvement of Letter of Credit in the month ended < **>

10. We also confirm that there has been no overdrawal of the drawing power sanctioned by the bank for a period of more than 30 consecutive days in case of bank facilities which do not have scheduled maturity/repayment dates.

11. Details of default in payment of interest/installment obligations on loans including revolving facilities like cash credit from banks/financial institutions and any overdraws beyond what is sanctioned by the bank, beyond 30 days as on date/ in the month ended < **>, in any of the above case (if any):

Name of Lender	Nature of obligation	Date of Default	Current default amount	Amount to bepaid	Actual Date of Payment(if any)	Remarks
Text	Term Loan,CC
.
Row 2

==> picture [131 x 62] intentionally omitted <==

1. Details of default in payment of principal/interest obligations as on date/ in the month ended < **>, on our listed and unlisted debt obligations (Securities), in any of the above case (if any):

Name of the Instrument	ISIN	Amount to bepaid	Due Date of Payment	Actual Date of Payment	Remarks
NCD

Thanking You,

Yours faithfully,

==> picture [136 x 65] intentionally omitted <==

Annexure

Annexure
Details of Fund-Based/Non-fund based bank Limits Rated by ICRA (Rated on Long-Term Scale)	Amount (Rs. crore)	Rating	Rating Assigned on
Bank of India	21.00	[ICRA]A (Stable)	December 31, 2020
Kotak Mahindra Bank	125.00	[ICRA]A (Stable)	December 31, 2020
Total	146.00