WPIL Ltd — Capital/Financing Update 2023

Mar 16, 2023

==> picture [260 x 90] intentionally omitted <==

16th March, 2023

The Listing Compliance BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai - 400 001.

Scrip Code 505872

Dear Sir

Updation of Cndit Rating

Pursuant to Regulation 30(6) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we enclose a letter dated 15.03.2023 received from Care Rating Limited towards updation of Credit Rating of the Company for your information and records.

Thanking you

Yours faithfully For WPIL LIMITED

\,A I t --4

(U.CHAKRA VARTY) General Manager(Finance) and Company Secretary Compliance Officer

Enclo. As above

==> picture [71 x 61] intentionally omitted <==

WORKS : PANIHATI: 22, FERRY FUND ROAD (PANIHATI), KOLKATA- 700 114, TEL. : (033) 2583 3459 GANIPUR: BIREN ROY ROAD (WEST), GANIPUR, 24 PGS (S), KOLKATA-700141, PH.: 8100391197, (033) 24880976 GHAZIABAD : A-5, SECTOR - XXII, MEERUT ROAD, GHAZIABAD - 201 003, UTTAR PRADESH, TEL.: (0120) 3015 784 / 703 / 711, FAX: (0120) 3015 740

Care Edge

R A T I N G S

No.CARE/KRO/RL/2022-23/1732 Shri K.K. Ganeriwala Executive Director WPIL Limited Trinity Plaza, 3rd Floor 84/lA Topsia Road (South) Kolkata West Bengal 700046

==> picture [79 x 76] intentionally omitted <==

March 15, 2023

Confidential

Dear Sir,

Credit rating for bank facilities

On the basis of recent developments including operational and financial performance of your Company for FY22

(Audited) and 9MFY23 (Unaudited), our Rating Committee has reviewed the following ratings:

Facilities	Amount Rs. crore	Rating	Rating Action
Long Term Bank Facilities	127.21 (Enhanced from 107.21)	CARE A+; Stble (Single A Plus; Outlook: Stable)	Revised from CARE A; Positive (Single A; Outlook: Positive)
Long TermI Shor Term Bank Facilities	611.79 (Enhanced from 431.79)	CARE A+; Stble/ CARE Al (Single A Plus ; Outlook: StbleIA One)	Revised from CARE A; Positive / CARE Al (Single A ; Outlook: Positive/ A One)
Shor Term Bank Facilities	4.50	CARE Al CA One)	Reafirmed
	743.50
Total Facilities	(R.SvenHundred For-Three
	Crore and FifLakhs Onlvl

1. Refer Annexure 1 for details of rated facilities.

2. The rationale for the rating will be communicated to you separately. A write-up (press release) on the above rating is proposed to be issued to the press shortly, a draft of which will be communicated to you separately. We request you to peruse the document and offer your comments if any. We are doing this as a matter of courtesy to ou clients and with a view to ensure that no factual inaccuracies have inadvertently crept in. Kindly revert as early as possible. In any case, if we do not hear from you by March 17, 2023, we will proceed on the basis that you have no any comments to offer.

'Complete definitions of the ratings assigned are available at www.careedge.in and in other CARE Ratings Ltd.'s publications.

CARE Ratings Limited

3rd Floor, Prasad Chambers (Shagun Mall Building), lOA, Shakespeare Sarani, Kolkata - 700 071 Phone: +91-033- 4018 1600

Corporate Office :4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in

Cl N-L67190MH1993PLC071691

Page 1 of 5

1. CARE Ratings Ltd. reserves the right to undertake a surveillance/review of the rating from time to time, based on circumstances warranting such review, subject to at least one such review/surveillance every year.

2. CARE Ratings Ltd. reserves the right to revise/reaffirm/withdraw the rating assigned as also revise the outlook, as a result of periodic review/surveillance, based on any event or information which in the opinion of CARE Ratings Ltd. warrants such an action. In the event of failure on the part of the entity to furnish such information, material or clarifications as may be required by CARE Ratings Ltd. so as to enable it to carry out continuous monitoring of the rating of the bank facilities, CARE Ratings Ltd. shall carry out the review on the basis of best available information throughout the life time of such bank facilities. In such cases the credit rating symbol shall be accompanied by "ISSUER NOT COOPERATING". CARE Ratings Ltd. shall also be entitled to publicize/disseminate all the afore­ mentioned rating actions In any manner considered appropriate by It, without reference to you.

3. Our ratings do not take into account the sovereign risk, if any, attached to the foreign currency loans, and the ratings are applicable only to the rupee equivalent of these loans.

4. Our ratings do not factor in any rating related trigger clauses as per the terms of the facility/instrument, which may involve acceleration of payments in case of rating downgrades. However, if any such clauses are introduced and if triggered, the ratings may see volatility and sharp downgrades.

5. Users of this rating may kindly refer our website w .careedge.in for latest update on the outstanding rating.

6. CARE Ratings Ltd. ratings are not recommendations to sanction, renew, disburse or recall the concerned bank facilities.

If you need any clarification, you are welcome to approach us in this regard.

Thanking you,

Yours faithfully,

==> picture [129 x 43] intentionally omitted <==

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

• I jwiu{ (.1
��vil�� [6 ]
----- End of picture text -----

Vivek Kumar Choudhary Lead Analyst vivekkumar.c@car dge.in

==> picture [81 x 25] intentionally omitted <==

Mamta Muklania Associate Director mamta. khemka@careedge. In

Encl.: As above

CARE Ratings Limited

• 3rd Floor, Prasad Chambers (Shagun Mall Building), lOA, Shakespeare Sarani, Kolkata - 700 071 Phone: +91-033- 4018 1600

Corporate Office :4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion CE), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in

Cl N-L67190 MHl 993PLC071691

Page 2 of 5

Disclaimer

The ratings issued by CARE Ratings Limited are opinions on the likelihood of timely payment of the obligations under the rated instrument and are not recommendations to sanction, renew, disburse or recall the concerned bank facilities or to buy, sell or hold any security. These ratings do not convey suitability or price for the investor. The agency does not constitute an audit on the rated entity. CARE Ratings Limited has based its ratings/outlooks based on information obtained from reliable and credible sources. CARE Ratings Limited does not, however, guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions and the results obtained from the use of such information. Most entities whose bank facilities/instruments are rated by CARE Ratings Limited have paid a credit rating fee, based on the amount and type of bank facilities/instruments. CARE Ratings Limited or its subsidiaries/associates may also be involved with other commercial transactions with the entity. In case of partnership/proprietary concerns, the rdtiny /uulluuk dssiynecJ by CARE R.3lings Limited is, inter-alia, based on the capital deployed by the partners/proprietor and the current financial strength of the firm. The rating/outlook may undergo a change in case ot withdrawal ot capital or the unsecured loans brought in by the partners/proprietor in addition to the financial performance and other relevant factors. CARE Ratings Limited is not responsible for any errors and states that it has no financial liability whatsoever to the users of CARE Ratings Limited's rating.

Our ratings do not factor in any rating related trigger clauses as per the terms of the facility/instrument, which may involve acceleration of payments in case of rating downgrades. However, if any such clauses are introduced and if triggered, the ratings may s volatifity and sharp downgrades.

CARE Ratings Limited

3rd Floor, Prasad Chambers (Shagun Mall Building), lOA,

Shakespeare Sarani, Kolkata - 700 071 Phone: +91-033- 4018 1600

Corporate Office :4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (E). Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in

CIN-L67190MH1993PLC071691

Page 3 of s

Annexure 1

Details of Rated Facilities

1. Long Term Facilities

1.A. Fund Based Limits

==> picture [446 x 35] intentionally omitted <==

1.	Ais Bank Ltd.	45.00Cash Credit
2.	HDFC Bank Ltd.	40.00Cash Credit
3.	Stte Bank of India	32.21Cash Credit
4.	Yes Bank Ltd.	10.00Cash Credit
	Total	127.21

Total Long Term Facilities : Rs.127.21 crore

2. Short Term Facilities

2.A. Non-Fund Based Limits

==> picture [447 x 35] intentionally omitted <==

1.	IDBI Bank Ltd.	2.00Forard Contrac
2.	State Bank of India	1.50Forard Contrac
3.	Ais Bank Ltd.	1.00Forard Contrac
	Totl	4.50

Total Short Term Facilities : Rs.4.50 crore

3. Long Term / Short Term Facilities

3.A. Fund Based Limits

==> picture [448 x 63] intentionally omitted <==

3.B. Non-Fund Based Limits

CARE Ratings Limited

3rd Floor, Prasad Chambers (Shagun Mall Building),	Corporate Ofice:4th Floor, Godrej Coliseum,
lOA,	Somaiya Hospital Road, Off Eastern Express
Shakespeare Sarani, Kolkata - 700 071	Highway,Sion (E), Mumbai - 400 022
Phone: +91-033- 4018 1600	Phone: +91-22-6754 3456 • www.careedge.in
Cl N-L67190MH1993PLC071691
Page	4of5

==> picture [446 x 34] intentionally omitted <==

1.	HDFC Bank Ltd.	125.00Bank guarantee/Leter of Credit
2.	Yes Bank Ltd.	115.00Bank guarantee/Leter of Credit
3.	State Bank of India	107.00Bank guarantee/Leter of Credit
4.	IDBI Bank Ltd.	95.00Bank guarantee/Leter of Credit
5.	Ais Bank Ltd.	77.00Bank guarantee/Leter of Credit
6.	Proposed	80.00Bank guarantee/Leter of Credit
	Total	599.00

Total Long Term/ Short Term Facilities: Rs.611.79 crore

Total Facilities (1.A+2.A+3.A+3.B) : Rs.743.50 crore

CARE Ratings Limited

3rd Floor, Prasad Chambers (Shagun Mall Building), lOA,

Shakespeare Sarani, Kolkata - 700 071 Phone: +91-033- 4018 1600

Corporate Office :4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in

Cl N-L67190MH1993PLC071691

Page 5 of 5