WPIL Ltd — Capital/Financing Update 2025

Apr 1, 2025

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Date: April 01, 2025

Scrip Code: 505872

To BSE Limited PJ Towers, Dalal Street, Mumbai- 400001

REF: DISCLOSURE UNDER REGULATION 30 OF SEBI (LODR) REGULATIONS, 2015

Dear Sir,

With reference to above, enclosed herewith is a Letter from CARE Ratings Limited towards reaffirmation of the Credit Rating of the Company’s Banking Facilities.

The above is for your information and records.

Thanking you.

Yours Faithfully,

FOR WPIL LIMITED

KRISHNA Digitally signed by KRISHNA KUMAR KUMAR GANERIWALA Date: 2025.04.01 14:30:05 GANERIWALA +05'30' [K.K. GANERIWALA] EXECUTIVE DIRECTOR

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No. CARE/KRO/RL/2024-25/1779

Shri K.K. Ganeriwala Executive Director WPIL Limited Trinity Plaza, 3rd Floor 84/1A Topsia Road (South) Kolkata West Bengal 700046

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March 31, 2025

Confidential

Dear Sir,

Credit rating for bank facilities

On the basis of recent developments including operational and financial performance of your Company for FY24 (Audited) and 9MFY25 (Unaudited), our Rating Committee has reviewed the following ratings:

Facilities	Amount (₹ crore)	Rating1	Rating Action	Rating Action
Long Term Bank Facilities	237.21 (Enhanced from 187.21)	CARE A+; Stable	Reaffirmed
Long Term / Short Term Bank Facilities	813.79	CARE A+; Stable / CARE A1+	Reaffirmed
Short Term Bank Facilities	2.50	CARE A1+	Reaffirmed

2. Refer Annexure 1 for details of rated facilities.

1. 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 our 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 April 02, 2025, we will proceed on the basis that you have no comments to offer.

2. 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.

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1Complete definitions of the ratings assigned are available at www.careedge.in and in other CARE Ratings Ltd.’s publications.

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CARE Ratings Limited

Unit No A / 7 / 4, 7th Floor, Block A, Apeejay House, Corporate Office :4th Floor, Godrej Coliseum, 15 Park Street, Kolkata – 700 016 Somaiya Hospital Road, Off Eastern Express Phone: +91-33-40181600 Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in

CIN-L67190MH1993PLC071691

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1. 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 aforementioned rating actions in any manner considered appropriate by it, without reference to you.

2. 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.

3. 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.

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

5. 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,

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Mayank Sourabh Lead Analyst mayank.sourabh@careedge.in

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Richa Bagaria Associate Director richa.jain@careedge.in

Encl.: As above

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CARE Ratings Limited

Unit No A / 7 / 4, 7th Floor, Block A, Apeejay House, 15 Park Street, Kolkata – 700 016 Phone: +91-33-40181600

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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

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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 rating /outlook assigned by CARE Ratings 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 of withdrawal of 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 see volatility and sharp downgrades.

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CARE Ratings Limited

Unit No A / 7 / 4, 7th Floor, Block A, Apeejay House, 15 Park Street, Kolkata – 700 016 Phone: +91-33-40181600

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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

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Annexure 1

Details of Rated Facilities

1. Long Term Facilities

1.A. Fund Based Limits

Sr. No.	Name of Bank / Lender	Rated Amount (Rs. crore)	Remarks
1.	ICICI Bank Ltd.	50.00	WCDL/CC
2.	Axis Bank Ltd.	45.00	WCDL/CC
3.	HDFC Bank Ltd.	40.00	WCDL/CC
4.	State Bank of India	32.21	WCDL/CC
5.	Yes Bank Ltd.	10.00	WCDL/CC
6.	Federal Bank	10.00	WCDL/CC
7.	Proposed	50.00
	Total	237.21

Total Long Term Facilities : Rs.237.21 crore

2. Short Term Facilities

2.A. Non-Fund Based Limits

Sr. No.	Name of Bank / Lender	Rated Amount (Rs. crore)	Remarks
1.	State Bank of India	1.50	Forward Contract
2.	Axis Bank Ltd.	1.00	Forward Contract
	Total	2.50

Total Short Term Facilities : Rs.2.50 crore

3. Long Term / Short Term Facilities

3.A. Fund Based Limits

Sr. No.	Name of Bank / Lender	Rated Amount (Rs. crore)	Remarks
1.	IDBI Bank Ltd.	12.79	Cash Credit/Exportpackingcredit
	Total	12.79

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3.B. Non-Fund Based Limits

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CARE Ratings Limited

Unit No A / 7 / 4, 7th Floor, Block A, Apeejay House, Corporate Office :4th Floor, Godrej Coliseum, 15 Park Street, Kolkata – 700 016 Somaiya Hospital Road, Off Eastern Express Phone: +91-33-40181600 Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in

CIN-L67190MH1993PLC071691

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Sr. No.	Name of Bank / Lender	Rated Amount (Rs. crore)	Remarks
1.	Yes Bank Ltd.	162.00	Bankguarantee/Letter of Credit
2.	IDBI Bank Ltd.	130.00	Bankguarantee/Letter of Credit
3.	HDFC Bank Ltd.	125.00	Bankguarantee/Letter of Credit
4.	State Bank of India	107.00	Bankguarantee/Letter of Credit
5.	ICICI Bank Ltd.	100.00	Bankguarantee/Letter of Credit
6.	Federal Bank	100.00	Bankguarantee/Letter of Credit
7.	Axis Bank Ltd.	77.00	Bankguarantee/Letter of Credit
	Total	801.00

Total Long Term / Short Term Facilities : Rs.813.79 crore

Total Facilities (1.A+2.A+3.A+3.B) : Rs.1,053.50 crore

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CARE Ratings Limited

Unit No A / 7 / 4, 7th Floor, Block A, Apeejay House, 15 Park Street, Kolkata – 700 016 Phone: +91-33-40181600

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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

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