Varroc Engineering Limited — Capital/Financing Update 2021

Dec 10, 2021

Varroc Engineering Limited

Regd. & Corp. Office

L-4, MIDC, Industrial Area Tel + 91 240 6653700 Waluj, Aurangabad 431 Fax + 91 240 2564540 136, Maharashtra, India

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

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VARROC/SE/INT/2021-22/49

December 10, 2021

To, The Manager- Listing The Listing Department, National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai-400051. NSE Symbol: VARROC

The Manager – Listing The Corporate Relation Department, Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai-400001.

BSE Security Code: 541578

Sub.: ICRA revises Credit Ratings for Varroc Engineering Ltd

Dear Sir/Madam,

In compliance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that ICRA Limited has revised Credit Rating of Instrument(s)/Bank Facility of the Company as follows:

Instrument/Bank Facility	Existing Credit Rating	Revised Credit Rating
Term Loan (Long Term)	[ICRA]A+(Stable)	[ICRA]A (Negative)
Fund-based (Long-term/Short-term)	[ICRA]A+(Stable)/[ICRA]A1	[ICRA]A (Negative)/[ICRA] A2+
Non-fund Based (Long-term/Short-term)	[ICRA]A+(Stable)/[ICRA]A1	[ICRA]A(Negative)/[ICRA] A2+
Commercial Paper (Short-term)	[ICRA]A1	[ICRA]A2+
Non-Convertible Debenture (NCD) Programme	[ICRA]A+(Stable)	[ICRA]A(Negative)

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

For Varroc Engineering Limited

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Ajay Sharma Group General Counsel and Company Secretary