UNO Minda Limited

UNO MINDA [ ]

(Formerly known as Minda Industries Limited)

---.::>�IVING THE NEW--

Ref. No. Z-IV/R-39/D-2/NSE/207 & 174 Date : 15/09/2023

National Stock Exchange of India Ltd. BSE Ltd. Listing Deptt., Exchange Plaza, Regd. Office: Floor - 25, Bandra Kurla Complex, Bandra (E), Phiroze Jeejeebhoy Towers, Mumbai - 400 051 Dalal Street, Mumbai-400 001. NSE Scrip: UNOMINDA BSE Scrip: UNOMINDA; 532539

Dear Sirs,

Sub: - Credit Rating

Ref: - Regulation 30, Schedule Ill A (3) of SEBI (LODR) Regulations, 2015

This is in continuation of our earlier intimation dated 31 August, 2023 with regard to the captioned subject matter, we wish to inform that ICRA vide their letter(s) dated 15 September, 2023 has:

1) reaffirmed long term rating of [ICRA] AA+ (pronounced ICRA double A plus) to Rs. 300 Crore of Non-Convertible Debentures (NCD) and assigned a long term rating of [ICRA] AA+ (pronounced ICRA double A plus) to the fresh NCO programme of Rs. 100 Crore of Uno Minda Limited, thereby the total rating rating is Rs. 400 Crore for the NCO programme. The outlook on the long term rating is [ICRA] AA+ (Stable).
2) reaffirmed the long term rating at [ICRA]AA+ (pronounced ICRA double A plus) and the short-term rating at [ICRA]Al+ (pronounced ICRA A one Plus) on the rated Bank Facilities of Rs. 700 Crore. The outlook on the long-term rating is Stable.
3) reaffirmed the short-term rating at [ICRA] Al+ (pronounced ICRA A one plus) for Rs.100 Crore Commercial Paper (CP) programme of Uno Minda Limited.

We are enclosing herewith the copy of the letter(s) dated 15 September, 2023 against the above ratings, received from ICRA in this regard.

This is for your information and records please.

==> picture [390 x 108] intentionally omitted <==

----- Start of picture text -----

Thanking you.
Yours faithfully,
For Uno Minda Limited
Tarun Kumar Digitally signed by Tarun Kumar Srivastava
Date: 2023.09.15
�{:)_t.uctJf:-a� Srivastava
Tarun Kumar Srivastava 17:55:15 +05'30'
Company Secretary & Complian
----- End of picture text -----

Encl: As above.

-

Uno Minda Limited (Formerly known as Minda Industries Limited) Corporate Office: Village Nawada Fatehpur, P.O. Sikanderpur Badda, Manesar, Distt. Gurgaon, Haryana - 122004, INDIA. T: +91 124 2290427/28, 2290693/94/96 F: +91 124 2290676/95 Email: [email protected] www.unominda.com Regd. Office: B-64/1, Wazi rpur Industrial Area, Delhi - 110052 CIN No.: L74899DL 1992PLC050333

ICRA I

ICRA Limited

Ref: ICRA/Uno Minda Limited/15092023/3

Date: September 15, 2023

Mr. Sunil Bohra

Executive Director - Group CFO Uno Minda Limited Village Nawada Fatehpur P. 0. Sikanderpur Badda Manesar, Gurgaon 122004

Dear Sir,

Re: ICRA-assigned Credit Rating for Rs. 400.0 crore Non-Convertible Debentures (NCO) (including Rs. 100 crore fresh Non-Convertible Debenture Programme) of Uno Minda Limited.

Please refer to the Rating Agreement dated August 9, 2023, executed between TCRA Limited ("ICRA") and your company, whereby, ICRA is required to review its ratings, on an annual basis, or as and when the circumstances warrant. Also, please refer to your Statement of Work dated September 5, 2023, requesting ICRA to assign Rating to the Non-Convertible Debenture Programme of Rs 100.0 crore of your company.

The Rating Committee of ICRA, after due consideration, has reaffirmed the long-term rating of [ICRA] AA+ (pronounced ICRA double A plus) to the Rs 300 crore of Non-Convertible Debenture (NCO) Programme ("Rating") and assigned a long-term rating of[ICRA] AA+ (pronounced ICRA double A plus) to the Rs 100 crore of fresh NCO Programme of your company. The Outlook on the long-term Rating is Stable. Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such securities carry very low credit risk.

In any of your publicity material or other document wherever you are using the above Rating(s), it should be stated as [ICRAI AA+(Stable).

The aforesaid Rating(s) will be due for surveillance any time before September 13, 2024. However, ICRA reserves the right to review and/or, revise the above Rating(s) at any time on the basis of new information becoming available, or the required information not being available, or other circumstances that ICRA believes could have an impact on the Rating(s). Therefore, request the lenders and Investors to visit ICRA website at www.icra.in for latest Rating(s) of the Company.

The Rating(s) are specific to the terms and conditions of the NCO as indicated to us by you, and any change in the terms or size of the same would require a review of the Rating(s) by us. In case there is any change in the terms and conditions or the size of the rated NCO, the same must be brought to our notice before the NCO is used by you. In the event such changes occur after the Rating(s) have been assigned by us and their

Building No. 8, 2'"[1 ] Floor, Tower A Tel.: +91.124 .4545300 Website: www.icra.in DLF Cyber City, Phase II CIN : L749999DL1991PLC042749 Email: [email protected] Gurugram - 122002, Haryana Helpdesk: +91 9354738909 Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel. :+91.11.23357940-41 RATING • RESEARCH • INFORMATION

ICRA I

ICRA Limited

use has been confirmed by you, the Rating(s) would be subject to our review, following which there could be a change in the Rating(s) previously assigned. Notwithstanding the foregoing, any increase in the over all limit of the NCO 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.

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 NCO availed/issued by your company.

The Rating(s) assigned to the NCO of your Company shall require revalidation ifthere is any change in the size of the rated NCO.

You are also requested to forthwith inform us about any default or delay in repayment of interest or principal amount of the instrument rated, as above, or any other debt instruments/ borrowing and keep us informed of any other developments which may have a direct or indirect impact on the debt servicing capability of the company including any proposal for re-schedulement or postponement of the repayment programmes of the dues/ debts of the company with any lender(s) / investor(s), or occurrence of any significant development that could impact the ability of the company to raise funds such as restriction imposed by any authority from raising funds through issuance of debt securities through electronic bidding system. Further, you are requested to inform us immediately as and when the borrowing limit for the instrument rated, as above, or as prescribed by the regulatory authority(ies) is exceeded.

We look forward to your communication and assure you of our best services.

With kind regards,

Yours sincerely,

For ICRA Limited

SRI KUMAR KRISHNAMURTHY

Digitally signed by SRI KUMAR KRISHNAMURTHY Date: 2023.09.15 14:27:40 +05'30'

Srikumar Krishnamurthy

Senior Vice President and Co-Group Head, Corporate Ratings ksrikumar(c. .icraindia.com

==> picture [54 x 59] intentionally omitted <==

ICRA

ICRA Limited

Appendix-A

Instrument Details

Details of Bank Limits Rated Amount	Amount		Rating	RatingAssigned	RatingAssigned
by ICRA (Rated on Long- (Rs. crore)	outstanding	(Rs.		on
Term Scale)	Crore)
Non-Convertible Debenture400.0	0.0		[ICR]A+(Stable)	September	14,
Programme				2023
Total 400.0	0.0

Website: www.icra.in Email: [email protected] Helpdesk: +91 9354738909

Building No. 8, 2"'' Floor, Tower A Tel.: +91.124 .4545300 Website: www.icra.in DLF Cyber City, Phase II CIN : L 749999DL1991PLC042749 Email: [email protected] Gurugram - 122002, Haryana Helpdesk: +91 9354738909 Registered Office: B-710, Statesman House, 148, Barakharoba Road, New Delhi 110001. Tel. :+91.11.23357940-41 RATING • RESEARCH • INFORMATION

==> picture [43 x 61] intentionally omitted <==

ICRA

ICRA Limited

Ref: ICRA/Uno Minda Limited/15092023/1

Date: September 15, 2023

Mr. Sunil Bohra

Executive Director - Group CFO Uno Minda Limited Village Nawada Fatehpur P. 0. Sikanderpur Badda Manesar, Gurgaon 122004

Dear Sir,

Re: Surveillance of ICRA-assigned Credit Rating for Rs. 700.0 crore Bank Facilities of Uno Minda Limited

Please refer to the Rating Agreement dated August 10, 2022, executed between ICRA Limited ("ICRA") and your company, whereby, ICRA is required to review its ratings, on an annual basis, or as and when the circumstances warrant.

Please note that the Rating Committee ofICRA, after due consideration, has reaffirmed the long-term rating at [ICRA] AA+ (pronounced ICRA double A plus) and the short-term rating at [ICRA]Al + (pronounced ICRA A one plus) on the rated bank facilities. Outlook on the long-term rating is Stable. For Rating www.icra.in. definition(s), please refer to ICRA website at

In any of your publicity material or other document wherever you are using the above Rating(s), it should be stated as [ICRAI AA+ (Stable)/[ICRAIAI+.

The aforesaid Rating(s) will be due for surveillance any time before September 13, 2024. However, ICRA reserves the right to review and/or revise the above Rating(s) at any time on the basis of new information becoming available, or the required information not being available, or other circumstances that ICRA believes could have an impact on the Rating(s). Therefore, request the lenders and investors to visit ICRA website at www.icra.in for latest Rating(s) of the Company.

The Rating(s) are specific to the terms and conditions of the bank facilities as indicated to us by you, and any change in the terms or size of the same would require a review of the Rating(s) by us. In case there is any change in the terms and conditions or the size of the rated bank facilities, the same must be brought to our notice before the bank facility is used by you. In the event such changes occur after the Ratings have been assigned by us and their use has been confirmed by you, the Ratings would be subject to our review,

Building No 8, 2"'' Floor, Tower Tel.: +91.124 .4545300 Website: www.icra.in A CIN: Email: [email protected] DLF Cyber City, Phase II L 749999DL1991PLC042749 Helpdesk: +91 9354738909 Gurngram - 122002, Haryana Registered Office: B-710. Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel.:+91.11.23357940-45 RATING RESEARCH INFORMATION

ICRA I

following which there could be a change in the Ratings previously assigned. Notwithstanding the foregoing, any change in the over-all limit of the bank facilities 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.

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 instruments by your company.

You are also requested to forthwith inform us about any default or delay in repayment ofinterest or principal amount of the instrument rated, as above, or any other debt instruments/ borrowing and keep us informed of any other developments which may have a direct or indirect impact on the debt servicing capability of the company including any proposal for re-schedulement or postponement of the repayment programmes of the dues/ debts of the company with any lender(s) / investor(s). Further, you are requested to inform us immediately as and when the borrowing limit for the instrument rated, as above, or as prescribed by the regulatory authority(ies) is exceeded.

We look forward to your communication and assure you of our best services.

With kind regards,

Yours sincerely,

For ICRA Limited

SRI KUMAR KRISHNAMURTHY

Digitally signed by SRI KUMAR KRISHNAMURTHY

Date: 2023.09.15 14:26:49 +05'30'

Srikumar Krishnamurthy

Senior Vice President and Co-Group Head, Corporate Ratings [email protected]

ICRA I

Annexure

Details of Bank Limits Ratedby ICRA (Rated on Long-Term Scale)	Details of Bank Limits Ratedby ICRA (Rated on Long-Term Scale)	Amount (Rs.Rating Rating Assigned on crore)
Term Loan Facilities HDFC Bank Limited		50.00 [ICRA]AA+(Stable) September 14, 2023
JP Morgan Bank Cash Credit Facilities		100.00 [ICRA]AA+(Stable) September 14, 2023
		40.00 [ICRA]AA+ (Stable) September 14, 2023 32.80 [ICRA]AA+(Stable) September 14,2023

State Bank of India Axis Bank Limited
HDFC Bank Limited		45.00 [ICRA]AA+ (Stable) September 14, 2023 53.00 [ICRA]AA+(Stable) September 14,2023
Citibank N.A.
Standard Chartered Bank		53.00 [ICRA]AA+(Stable) September 14,2023
ICICI Bank Limited Total		50.00 [ICRA]AA+ (Stable) September 14,2023 423.80

Details of Bank Limits Rated by ICRA (Rated on Short-Term Scale) Non-Fund Based fcilities State Bank of India HDFC Bank Limited Axis Bank Limited ICICI Bank Limited Total Details of Bank Limits Rated by ICRA (Rated on Long term/ Short- Term Scale)	Amount (Rs. Rating Rating Assigned on crore) 15.00 [ICR]AI+ September 14, 2023 120.00 [ICRA]Al+ September 14, 2023 120.00 [ICR]AI+ September 14, 2023 5.00 [ICRA]AI+ September 14, 2023 260.00 Amount(Rs. Rating Rating Assigned on crore)

Unallocated Facilities	16.20 [ICRA]AA+ (Stable)/ September 14, 2023 [ICRA]AI+
Total	16.20

ICRA I

ICRA Limited

Ref: ICRA/Uno Minda Limited/15092023/2

Date: September 15, 2023

Mr. Sunil Bohra

Executive Director - Group CFO Uno Minda Limited Village Nawada Fatehpur P. 0. Sikanderpur Badda Manesar, Gurgaon 122004

Dear Sir,

Re: Surveillance ofICRA-assigned Credit Rating for Rs. 100.0 crore Commercial Paper (CP) Programme of Uno Minda Limited

Please refer to the Rating Agreement dated July 8, 2020 executed between TCRA Limited ("ICRA") and your Company, whereby, ICRA is required to review its rating(s), on an annual basis, or as and when the circumstances so warrant. Based on a review of the latest developments, the Rating Committee of ICRA, after due consideration has reaffirmed the short-term Rating of [ICRA) Al+ (pronounced ICRA A one plus) ("Rating") for the captioned commercial paper programme. This Rating indicates very strong degree of safety regarding timely payment of financial obligations and carry lowest credit risk.

In any of your publicity material or other document wherever you are using the above Rating(s), it should be stated as [ICRAJ Al+.

ICRA reserves the right to review and/or, revise the above Rating(s) at any time on the basis of new information becoming available, or the required information not being avail�ble, or other circumstances that ICRA believes could have an impact on the Rating(s). Therefore, request the lenders and Investors to visit ICRA website at www.icra.in for latest Rating(s) of the Company.

The Rating(s) are specific to the terms and conditions of the CP programme as indicated to us by you, and any change in the terms or size of the same would require a review of the Rating(s) by us. In case there is any change in the terms and conditions or the size of the rated CP, the same must be brought to our notice before the CP is used by you. In the event such changes occur after the Rating(s) have been assigned by us and their use has been confirmed by you, the Rating(s) would be subject to our review, following which there could be a change in the Rating(s) previously assigned. Notwithstanding the foregoing, any change in the over-all limit of the CP 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.

Building No. 8, 2'"' Floor, Tower Tel.: +91.124 .4545300 Website: www.icra.in A CIN: Email: [email protected] DLF Cyber City, Phase II L 7 49999DL 1991PLC042749 Helpdesk: +91 9354738909 Gurugram - 122002, Haryana Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001 Tel.:+91.11.23357940-45 RATING RESEARCH INFORMATION

ICRA I

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 CP availed/issued by your company.

Additionally, we wish to highlight the following with respect to the Commercial Paper Rating(s):

(a) The rating of the aforementioned instrument is based on the condition that total short-term borrowings (including CP, STD and bank borrowings) of the company at any given point of time should not exceed the company's drawing power or the bank sanctioned fund-based limits (whichever is lower).

(b) If the instrument rated, as above, is not issued by you within a period of3 months from the date of this letter, the Rating(s) would need to be revalidated before issuance.

(c) Once the instrument is issued, the rating is valid throughout the life of the captioned programme (which shall have a maximum maturity of twelve months from the date of the issuance of the instrument).

The Rating(s) is restricted to your CP programme size of Rs. I 00.0 crore only. In case, you propose to enhance the size of the CP programme, the same would require to be rated afresh. ICRA does not assume any responsibility on its part, for any liability, that may arise consequent to your not complying with any eligibility criteria, applicable from time to time, for issuance ofCP.

You are also requested to forthwith inform us about any default or delay in repayment of interest or principal amount of the instrument rated, as above, or any other debt instruments/ borrowing and keep us informed of any other developments which may have a direct or indirect impact on the debt servicing capability of the company including any proposal for re-schedulement or postponement of the repayment programmes of the dues/ debts of the company with any lender(s) / investor(s). Further, you are requested to inform us immediately as and when the borrowing limit for the instrument rated, as above, or as prescribed by the regulatory authority(ies) is exceeded.

We shall be glad to be associated with rating of any future borrowing programme of your company.

With kind regards,

Yours sincerely,

For ICRA Limited

Digitally signed by SRI KUMAR

SRI KUMAR KRISHNAMURTHY KRISHNAMURTHY

Date: 2023.09.15 14:27:18 +05'30'

Srikumar Krishnamurthy

Senior Vice President and Co-Group Head, Corporate Ratings k [email protected]

AI assistant

UNO Minda Limited — Capital/Financing Update 2023

61248_rns_2023-09-15_387f5c2c-99a1-4171-a93e-28049cf5e884.pdf