Varroc Engineering Limited — Capital/Financing Update 2020

Apr 29, 2020

Varroc Engineering Ltd.

Regd. & Corp. Office

L‐4, MIDC, Industrial Area Waluj, Aurangabad 431 136 Maharashtra, India

Tel + 91 240 6653700 Fax + 91 240 2564540

VARROC/SE/INT/2020-21/05 April 29, 2020

To,

(1) The Manager – Listing (2) The Manager - Listing The Listing Department, The Corporate Relation Department, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Fort, Bandra (East), Mumbai-400051 Mumbai-400001

email: varroc.info@varroc.com www.varroc.com CIN : L28920MH1988PLC047335

NSE Symbol: VARROC BSE Security Code: 541578 Security ID: VARROC

Dear Sir/Madam,

Sub: Intimation of Credit Rating received from ICRA Limited

In compliance with Regulation 30 (6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that ICRA Limited (ICRA) based on a review of the latest developments, has re-affirmed its ratings for the facilities as under:

Facilities	Rating Re-affirmed	Rating Outlook
Line of Credit	Long-term rating: [ICRA]AA-	Outlookrevisedfrom"Stable"to
	(pronounced ICRA double A minus)	"Ratingwatchwithnegative
		implications"
	Short-term rating: [ICRA]A1+	Outlookrevisedfrom"Stable"to
	(pronounced ICRA A one plus)	"Ratingwatchwithnegative
		implications"
CommercialPaper/	[ICRA]A1+	Outlookrevisedfrom"Stable"to
CertificateofDeposit	(pronounced as ICRA A one plus)	"Ratingwatchwithnegative
/ShortTermDebt		implications"
programme
Non-convertible	[ICRA]AA-@	Outlookrevisedfrom"Stable"to
Debenture programme	(pronounced as ICRA double A	"Ratingwatchwithnegative
	minus)	implications"

We request you to take the above on record and the same be treated as compliance under applicable provisions of the Listing Regulations.

Yours faithfully, For Varroc Engineering Limited

______________________________________

Ajay Sharma Group General Counsel and Company Secretary