Credit Rating- Revision

September 23, 2026 Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex Dalal Street Bandra (East) Mumbai – 400 001 Mumbai – 400051 Scrip Code: 544418 Name of Scrip: OSWALPUMPS Sub.: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) - Reaffirmation of Credit Rating Dear Sir/ Madam, Pursuant to Regulation 30 of the Listing Regulations, we wish to inform that ICRA Limited through its letter dated September 22, 2026 has reaffirmed/ revised the below mentioned Credit Ratings for the Company: Instrument Rating action Reason for change Long term – Fund ICRA A+ (Negative); Substantial build-up of receivables as well as moderation based - Cash credit reaffirmed; outlook revised to of profitability following increased competitive intensity and negative from stable input prices. The sharp increase in receivables has led to elongation in the collection cycle and a consequent rise in working capital intensity. The timely receipts especially from government subsidy schemes remain key to reduce the outstanding receivables and hence, improve the working capital cycle. Short Term – Non- ICRA A1 (reaffirmed) Not Applicable fund based – Others Short term - Non- fund based - Letter of credit Short term – Non- fund based – Bank guarantee Further, ICRA Limited through its letter dated September 22, 2026 has reaffirmed/ revised the below mentioned Credit Ratings for Oswal Solar Energy Private Limited, Material Subsidiary of the Company: Instrument Rating action Reason for change Long term – Fund based - ICRA A+ (Negative); reaffirmed; outlook Change in outlook of the parent Cash credit revised to negative from stable company, i.e. Oswal Pumps Limited. Long term – Fund based ICRA A+ (Negative); reaffirmed; outlook –Term loan revised to negative from stable Long term/Short term – ICRA A+ (Negative)/ ICRA A1; reaffirmed; Unallocated limits outlook revised to negative from stable The letters issued by the ICRA are available on the website of the Company https://www.oswalpumps.com/. This is for your information and records. Thanking you, Yours faithfully, For Oswal Pumps Limited Anish Kumar Company Secretary and Compliance Officer