Walchandnagar Industries Ltd — Capital/Financing Update 2022

Sep 12, 2022

==> picture [468 x 42] intentionally omitted <==

Ref. No. : WIL:SEC:2022 Date : September 12, 2022

National Stock Exchange of India Ltd. BSE Ltd., Corporate Action Department Corporate Relations Department Exchange Plaza, 5th floor, 1st floor, New Trading Ring, Plot No. C/1, G Block, Rotunda Bldg P. J. Tower, Bandra Kurla Complex, Bandra (East) Mumbai 400 001 Mumbai 400 051. Fax:: 22723121/2039/2037 Fax :26598237/38, 66418126/25/24 Scrip Code : 507410 Scrip Code : WALCHANNAG

Dear Sirs,

Sub.: Disclosure under Regulation 30 (6) read with Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

With reference to the above subject, we wish to inform you that ACUITE RATINGS & RESEARCH LIMITED, the Credit Rating Agency, have reaffirmed the credit rating of the Company vide its Letter dated September 07, 2022 which is received by us on mail on September 09, 2022 as given below:

09, 2022 as given below:
	Long Term Instruments	Short Term Instruments
Total Rated Quantum (Rs. in Cr.)	323.83	512.28
Quantum of Enhancement (Rs. in Cr.)	Not Applicable	Not Applicable
Rating	ACUITE C	ACUITE A4
Outlook	Not Applicable	Not Applicable
Most recent Rating Action	Reaffirmed	Reaffirmed

In this regard, please find enclosed herewith Letter dated September 07, 2022 issued by ACUITE RATINGS & RESEARCH LIMITED.

You are requested to kindly take the above information on record please.

Thanking you, Yours faithfully,

For Walchandnagar Industries Ltd.

Giriraj Sharan Agrawal Digitally signed by Giriraj Sharan Agrawal DN: c=IN, o=Personal, title=5216, pseudonym=68e68b14186155239d9ee36b4ac94e5ac98ae31713ff55cc8c5af654c51d1bbf, 2.5.4.20=d377a37a9c44bd0db5b3d17dd821ed935afdab89d983731b99c7c8e717112652, postalCode=400034, st=Maharashtra, serialNumber=5a4130bf9a70610c0fd108bdfb582c7679b4082096434107dba690b8c4821e18, cn=Giriraj Sharan Agrawal Date: 2022.09.12 17:42:48 +05'30' G. S. Agrawal Whole-Time Director & Company Secretary Encl.: As above

==> picture [468 x 24] intentionally omitted <==

==> picture [103 x 34] intentionally omitted <==

Rating Letter - Intimation of Rating Action

Letter Issued on: September 07, 2022 Letter Expires on: October 07, 2022 Annual Fee valid till: October 07, 2022

Walchandnagar Industries Limited

3, Walchand Terraces, Tardeo Road, Mumbai - 400034 Maharashtra

Kind Attn.: Mr. Dilip Jayantilal Thakkar, Director (Tel. No. 9607976603)

==> picture [114 x 95] intentionally omitted <==

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

Scan this QR Code to verify
authenticity of this rating
----- End of picture text -----

Dear Mr. Thakkar,

Sub.: Rating(s) Reaffirmed - Bank Loans / Debt Instruments of Walchandnagar Industries Limited

Please note that the current rating(s) and outlook, instrument details, and latest rating action for the aforementioned instrument are as under:

	Long Term Instruments	Short Term Instruments
Total Rated Quantum (Rs. Cr.)	323.83	512.28
Quantum of Enhancement (Rs. Cr.)	Not applicable	Not applicable
Rating	ACUITE C	ACUITE A4
Outlook	Not applicable	Not applicable
Most recent Rating Action	Reaffirmed	Reaffirmed
Date of most recent Rating Action	September 07, 2022	September 07, 2022
Rating Watch	Not applicable	Not applicable

Acuité reserves the right to revise the ratings, along with the outlook, at any time, on the basis of new information, or other circumstances which Acuité believes may have an impact on the ratings. Such revisions, if any, would be appropriately disseminated by Acuité as required under prevailing SEBI guidelines and Acuité ’s policies.

This letter will expire on October 07, 2022 or on the day when Acuité takes the next rating action, whichever is earlier. It may be noted that the rating is subject to change anytime even before the expiry date of this letter. Hence lenders / investors are advised to visit https://www.acuite.in/ OR scan the QR code given above to confirm the current outstanding rating.

Acuité will re-issue this rating letter on October 08, 2022 subject to receipt of surveillance fee as applicable. If the rating is reviewed before October 07, 2022, Acuité will issue a new rating letter.

==> picture [102 x 27] intentionally omitted <==

Suman Chowdhury Chief Analytical Officer

Annexures: A. Details of the Rated Instrument B. Details of the rating prior to the above rating action

Acuité Ratings & Research Limited

SEBI Registered | RBI Accredited 708, Lodha Supremus, Lodha iThink Techno Campus, Kanjurmarg (East), Mumbai - 400042 | +91 22 49294000 SMS: +91 9969898000 | www.acuite.in | CIN: U74999MH2005PLC155683

==> picture [541 x 13] intentionally omitted <==

==> picture [103 x 34] intentionally omitted <==

Annexure A. Details of the rated instrument

Bank	Facilities	Scale	Previous Amt. (Rs. Cr)	Current Amt. (Rs. Cr)	Ratings	Rating Action
Fund Based Facilities
State Bank of India	Cash Credit	Long Term	135.00	132.10	ACUITE C	Reaffirmed
State Bank of India	Working Capital Demand Loan (Covid Emergenc y Line)	Long Term	13.50	4.51	ACUITE C	Reaffirmed
Bank of India	Cash Credit	Long Term	85.00	83.72	ACUITE C	Reaffirmed
Bank of India	Covid Emergen cy Line	Long Term	8.50	8.07	ACUITE C	Reaffirmed
Not applicable	Proposed long term facility	Long term	-	95.43	ACUITE C	Reaffirmed
Total Fund Based Facilities			242.00	323.83
Non-Fund Based Facilities
State Bank of India	Bank Guarantee	Short Term	300.00	250.00	ACUITE A4	Reaffirmed
Bank of India	Letter of Credit	Short Term	40.00	37.28	ACUITE A4	Reaffirmed
Bank of India	Bank Guarantee	Short Term	254.11	225.00	ACUITE A4	Reaffirmed
Total Non-Fund Based Facilities			594.11	512.28
Total Facilities			836.11	836.11

Annexure B. Details of the rating prior to the above rating action

	Long Term Instruments	Short Term Instruments
Previous Rated Quantum	242.00 Cr.	594.11 Cr.
Rating	ACUITE C	ACUITE A4
Outlook	Not applicable	Not applicable

==> picture [541 x 13] intentionally omitted <==

==> picture [103 x 34] intentionally omitted <==

DISCLAIMER

An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy , sell or hold any security. Acuité ratings are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité , in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind arising from the use of its ratings.Acuité ratings are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité , Acuité ’s rating scale and its definitions.

==> picture [541 x 13] intentionally omitted <==