Credit Rating

Date: 09.07.2026 National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E) Mumbai – 400051 Symbol :- KRISHANA Subject: Credit Rating – Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 Dear Sir / Madam, Pursuant to Regulation 30 of SEBl(Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to intimate that the credit rating assigned to our company by Crisil Ratings Limited on dated 09th July, 2026(copy attached), in respect of Bank facilities of the Company are as under:- Instrument Description Rating Assigned Long Term Rating Crisil A+/ Watch Developing (Continues on 'Rating Watch with Developing Implications') Short Term Rating Crisil A1 Watch Developing (Continues on 'Rating Watch with Developing Implications') You are requested to take the same on your record. Thanking you, Yours faithfully, For Krishana Phoschem Limited Anil Sharma (Company Secretary) M.No. ACS- 25045 Place : Bhilwara Registered off. : Wing A/2, 1st Floor, Ostwal Heights, Urban Forest, Atun, Bhilwara 311802(Raj.) Works : AKVN Industrial Area, Meghnagar-457779, Distt.Jhabua(M.P.)Ph.77730 01157, 92570 11857 CONFIDENTIAL RL/KRIPHL/399640/BLR/0726/152525 July 09, 2026 Mr. Sourabh Gupta Group Chief Finance Officer Krishana Phoschem Limited 5-O-21 Basement, R.C. Vyas Colony, Rajasthan Bhilwara - 311001 7665437112 Dear Mr. Sourabh Gupta, Re: Review of Crisil Ratings on the bank facilities of Krishana Phoschem Limited All ratings assigned by Crisil Ratings are kept under continuous surveillance and review. Please find in the table below the ratings outstanding for the debt instruments/facilities of the company, and the rating actions by Crisil Ratings on the ratings as on date. Total Bank Loan Facilities Rated Rs.1125 Crore (Enhanced from Rs.756 Crore) Crisil A+/Watch Developing (Continues on 'Rating Watch with Long Term Rating Developing Implications') Crisil A1/Watch Developing (Continues on 'Rating Watch with Short Term Rating Developing Implications') (Bank-wise details as per Annexure 1) As per our Rating Agreement, Crisil Ratings would disseminate the ratings, along with the outlook, through its publications and other media, and keep the ratings, along with the outlook, under surveillance over the life of the instrument/facility. Crisil Ratings reserves the right to withdraw, or revise the ratings, along with the outlook, at any time, on the basis of new information, or unavailability of information, or other circumstances which Crisil Ratings believes may have an impact on the ratings. Please visit www.crisilratings.com and search with the name of the rated entity to access the latest rating/s. In the event of the company not availing the proposed facilities within a period of 180 days from the date of this letter, a fresh letter of revalidation from Crisil Ratings will be necessary. Crisil Ratings products / activities or ratings of instruments other than securities that are listed or proposed to be listed may fall under the purview of financial sector regulators (FSRs) other than SEBI. In respect of such products / activities or ratings (under the purview of other FSRs such as Reserve Bank of India (RBI), Ministry of Corporate Affairs (MCA), Insurance Regulatory and Development Authority of India (IRDAI), among others), the grievance / dispute redressal and investor protection mechanisms available under SEBI regulations shall not be applicable. A list of products/activities or ratings of instruments falling under the purview of various FSRs along with the names of respective FSRs has been duly disclosed by Crisil Ratings on its website. A link to the same has been provided below for ready reference: https://www.crisilratings.com/en/home/our-business/ratings/regulatory-disclosures/list-of-activities-instruments-and- names-of-regulators.html Should you require any clarification, please feel free to get in touch with us. With warm regards, Yours sincerely, Disclaimer: A rating by Crisil Ratings reflects Crisil Ratings’ current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by Crisil Ratings. Our ratings are based on information provided by the issuer or obtained by Crisil Ratings from sources it considers reliable. Crisil Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by Crisil Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. Crisil Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. Crisil Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. Crisil Ratings’ criteria are available without charge to the public on the web site, www.crisilratings.com. Crisil Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by Crisil Ratings, please visit www.crisilratings.com or contact Customer Service Helpdesk at Crisilratingdesk@crisil.com or at 1800-267-3850 Nitin Bansal Nivedita Shibu Associate Director - Crisil Ratings Director - Crisil Ratings Annexure 1 - Bank-wise details of various facility classes (outstanding facilities) Amount (Rs. S.No. Bank Facility Bank Outstanding Rating in Crore) 1 Cash Credit State Bank of India 55 Crisil A+/Watch Developing 2 Cash Credit ICICI Bank Limited 60 Crisil A+/Watch Developing 3 Cash Credit HDFC Bank Limited 75 Crisil A+/Watch Developing 4 Cash Credit YES Bank Limited 50 Crisil A+/Watch Developing 5 Cash Credit Axis Bank Limited 45 Crisil A+/Watch Developing 6 Letter of Credit HDFC Bank Limited 90 Crisil A1/Watch Developing 7 Letter of Credit YES Bank Limited 150 Crisil A1/Watch Developing 8 Letter of Credit State Bank of India 60 Crisil A1/Watch Developing 9 Letter of Credit Axis Bank Limited 55 Crisil A1/Watch Developing 10 Letter of Credit ICICI Bank Limited 80 Crisil A1/Watch Developing 11 Loan Equivalent Risk Limits ICICI Bank Limited 13 Crisil A1/Watch Developing 12 Loan Equivalent Risk Limits YES Bank Limited 15 Crisil A1/Watch Developing 13 Loan Equivalent Risk Limits ICICI Bank Limited 2 Crisil A1/Watch Developing 14 Loan Equivalent Risk Limits HDFC Bank Limited 2.55 Crisil A1/Watch Developing 15 Loan Equivalent Risk Limits State Bank of India 2.48 Crisil A1/Watch Developing 16 Loan Equivalent Risk Limits Axis Bank Limited 14 Crisil A1/Watch Developing 17 Loan Equivalent Risk Limits YES Bank Limited 5 Crisil A1/Watch Developing Proposed Fund-Based Bank 18 -- 81 Crisil A+/Watch Developing Limits Proposed Fund-Based Bank 19 -- 34 Crisil A+/Watch Developing Limits Proposed Non Fund based 20 -- 20 Crisil A+/Watch Developing limits 21 Term Loan Axis Bank Limited 61.35 Crisil A+/Watch Developing 22 Term Loan ICICI Bank Limited 24.06 Crisil A+/Watch Developing 23 Term Loan Shinhan Bank 10.71 Crisil A+/Watch Developing 24 Term Loan HDFC Bank Limited 119.85 Crisil A+/Watch Developing Total 1125 22. ICICI Bank Term Loan of Rs 35 Cr. sanctioned amount taken. Disclaimer: A rating by Crisil Ratings reflects Crisil Ratings’ current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by Crisil Ratings. Our ratings are based on information provided by the issuer or obtained by Crisil Ratings from sources it considers reliable. Crisil Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by Crisil Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market [Showing first 8,000 characters — download PDF for full document]