Credit Rating- Revision

Company under CIRP, Hon’ble NCLT, Hyderabad Bench-I, Order dated 15th May, 2026 Ref No.: IPCL/SE/LODR/2026-27/IBC Date: 10th July,2026 The Secretary The Vice President National Stock Exchange of India Limited Metropolitan Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block Building A, Unit 205A, 2nd Floor, Bandra Kurla Complex Piramal Agastya Corporate Park, Bandra (E), Mumbai- 400 051 L.B.S Road, Kurla West, Mumbai - 400 070 Scrip Symbol: DPSCLTD Scrip Symbol: DPSCLTD Dear Sir, Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Credit Rating (Infomerics Valuation and Rating Ltd) Please refer to Company’s intimation letter dated 16th May, 2026 filed with the Stock Exchanges regarding admission of the petition for initiation of Corporate Insolvency Resolution Process (CIRP) against India Power Corporation Limited ("Company") by the Hon'ble National Company Law Tribunal, Hyderabad Bench — I, and the appointment of the Interim Resolution Professional (IRP). Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that Infomerics Valuation and Rating Ltd (Infomerics Ratings) have revised the ratings for the Bank Loan Facilities of the Company on 9th July, 2026 as follows: Type of Facilities Previous Rating Present Rating IVR C IVR D Long Term Rating Rating Watch with Negative Rating Watch with Negative Implications Downgrade Implications downgraded IVR A4 IVR D Rating Watch with Negative Short Term Rating Rating Watch with Negative Implications Implications downgraded Downgrade Infomerics Ratings has downgraded its rating to the bank facilities of India Power Corporation Limited (IPCL) taking into account delay in meeting debt service obligations to financial institutions. Rating Watch with Negative Implications (RWNI) reflects heightened uncertainty arising from the admission of CIRP proceedings against IPCL by NCLT Hyderabad and the consequent transfer of management control to the IRP. The rating action also factors in the ongoing legal proceedings before NCLAT and the potential impact on the company’s financial and operational profile This is for your kind information and records. Thanking You. Yours Faithfully For India Power Corporation Limited Dhananjoy Karmakar Company Secretary & Compliance Officer (Under the authority of Ms. Sreenivasa Mano Ranjani Medarametla, IRP) Reg# IBBI/IPA-001/IP-P00736/2017-2018/11235 Encl.: as above India Power Corporation Limited CIN: L40105WB1919PLC003263 [formerly DPSC Limited] Registered Office: Plot No. X1- 2&3, Block-EP, Sector –V, Salt Lake City, Kolkata – 700 091 Tel.: + 91 33 6609 4308/09/10, Fax: + 91 33 2357 2452 Central Office: Sanctoria, Dishergarh 713 333, Telephone: (0341) 6600454/457 Fax: (0341) 6600464 E: corporate@indiapower.com W: www.indiapower.com lNFOMERICS VALUATION AND RATING LTD• Integrated Financial Omnibus Metrics Research of International Corporate Systems lnfomerics (Formerly lnfomerics Valuation And Rating Pvt. Ltd.) Ratings Mr. Raghav Raj Kanoria Managing Director India Power Corporation Limited Centre for excellence Plot No. X-1,2 and 3, Block EP, Sector V, Salt Lake, Kolkata, West Bengal, India - 700091 July 09, 2026 Dear Sir, Credit rating for bank facilities After taking into account all the relevant recent developments till date. 1. Our Rating Committee has reviewed the following ratings: Total Bank Loan Facilities Rs. 50.74 Crore Regulator" Long Term Rating___ IVR D -+-R_B_l --- --- 111<indly note that for activities or instruments falling under the purview of FSRs other than SEBI, the grievance/dispute redressal mechanisms and investor protection mechanisms provided by I SEBI shall not be available. ------ - 2. Details of the rated facilities are provided in Annexure I and list of activities I instruments and names of regulators are given in Annexure II. 3. For rating symbols for long term and short-term rating, definitions, criteria, methodologies and appeal policy please refer to our website www.infomerics.com. 4. The press release for the rating(s) will be communicated to you shortly. 5. The above rating is normally valid for a period of one year from the date of the rating committee (that is till May 20, 2027). 6. If the proposed long term I short term facility (if any) is not availed within a period of six months I three months respectively from the date of this letter, then the rating may please be revalidated from us before availing the facility. Page 1of6 Head Office : Flat No. 104/108, First Floor Golf Apartments, Sujan Singh Park, Maharishi Ramanna Marg, New Delhi - 110003, (INDIA) Phone: 011 -41410244,40154576, 24611910, 24654796 Fax: 011 -24627549 Corporate Office : Office No. 1102, 1103, 1104, 8-Wing, Kanakia Wall Street, Off. Andheri Kurla Road,Andheri East, Mumbai-400093, (INDIA) Phone No. : 022 -62396023, 62396053 E-mail : info@infomerics.com, Website : www.infomerics.com CIN: U32202DL1 986PLC024575 lnfomerics Ratings 7. INFOMERICS reserves the right to undertake a surveillance/review of the rating(s) from time to time, based on circumstances warranting such review, subject to at least one such review/surveillance every year. 8. A formal surveillance/review of the rating is normally conducted within 12 months from the date of initial rating/last review of the rating. However, INFOMERICS reserves the right to undertake a surveillance/review of the rating more than once a year if in the opinion of INFOMERICS, circumstances warrant such surveillance/review. 9. You shall provide us with a No Default Statement as at the last date of the month on the first date of succeeding month without fail. The NOS shall be mailed every month to nds@lnfomerics.com and to the mail id of the undersigned. 10. You shall provide the quarterly performance results/quarterly operational data (being submitted to Banks) to us within 6 weeks from the close of each calendar quarter for our review/monitoring. 11. You shall furnish all material information and any other information called for by INFOMERICS in a timely manner, for monitoring the rating assigned by INFOMERICS. In the event of failure on your part in furnishing such information, to carry out continuous monitoring of the rating of the bank facilities, INFOMERICS shall carry out the review/annual surveillance based on best available information throughout the lifetime of such bank facilities as per the policy of INFOMERICS. 12. Please note that INFOMERICS ratings are not recommendations to buy, sell or hold any security or to sanction, renew, disburse or recall the bank facilities. INFOMERICS 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. Page 2 of 6 Continuation Sheet No. lnfomerics Ratings 13. Users of this rating may kindly refer our website www.infomerics.com for latest update on the outstanding rating. 14. Further, this is to mention that all the clauses mentioned in the initial rating letter dated March 27, 2025, also stand applicable. If you need any clarification, you are welcome to approach us in this regard. Thanking you, ocJ.t. Yours faithfully, . j~ ~ V7'JU . Aniket Basatwar Jyotsna Gadgil Rating Analyst Senior Director aniket. basatwar@infomerics.com j:L_otsna. gadgil@infomerics.com Disclaimer: lnfomerics ratings are independent opinions on the credit risk of the issue/issuer as of the date they arc assigned and do not constitute statements of fact or recommendations to buy, hold or sell securities. The rating reflects lnfomerics' opinion on the relative credit risk of the rated instrument or entity at the time it is assigned. lnfomerics reserves the right to change or withdraw the credit ratings at any point in time. lnfomcrics ratings are based on information and data provided by the issuer or obtained from sources believed by lnfomencs to be accurate [Showing first 8,000 characters — download PDF for full document]