Credit Rating

SEPL/Sept/2026-27 26th September 2026 The General Manager, The Manager, Corporate Services/Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Floor 25, P.J. Towers, Exchange Plaza, Plot No. C/1, G Block, Dalal Street, Mumbai – 400 001 Bandra – Kurla Complex, Scrip Code: 501423 Bandra (E), Mumbai – 400 051 Scrip Code: SHAILY Sub: CARE credit ratings – Reg. Ref: Regulation 30 of the SEBI Listing Regulations, 2015 Dear Sir, This is to inform that CARE Ratings Limited vide its Letter No. CARE/ARO/RL/2026-27/5081 dated 25th September 2026, has reviewed the Company’s bank facility(ies) ratings as below: Facilities Amount (₹ in crore) Rating Rating Action Long Term 239.24 CARE A+; Stable Reaffirmed Bank Facilities (Reduced from 239.62) Short term 35.00 CARE A1+ Upgraded from CARE A1 Bank Facilities Details of rated facilities are annexed herewith. The above information shall be uploaded on the website of the Company at https://shaily.com/ Kindly take the same on record. Thanking You. Yours truly, For Shaily Engineering Plastics Limited Harish Punwani Company Secretary & Compliance Officer M.No. A50950 Encl :a/a No. CARE/ARO/RL/2026-27/5081 Shri Sanjay Shah Chief Strategy Officer Shaily Engineering Plastics Limited Survey No. 364 & 366, Rania, Taluka - Savli, District - Vadodara, Gujarat Vadodara Gujarat 391780 September 25, 2026 Confidential Dear Sir, Credit rating for bank facilities On the basis of recent developments including operational and financial performance of your Company for FY26 (Audited) and Q1FY27 (Unaudited), our Rating Committee has reviewed the following ratings: Amount Facilities Rating1 Rating Action (₹ crore) Long Term Bank 239.24 CARE A+; Stable Reaffirmed Facilities (Reduced from 239.62) Short Term Bank 35.00 CARE A1+ Upgraded from CARE A1 Facilities 2. Refer Annexure 1 for details of rated facilities. 3. The rating report 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 shall be shared with you separately. 4. 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. 1Complete definitions of the ratings assigned are available at www.careratings.com and in other CARE Ratings Ltd.’s publications. CARE Ratings Limited 32, Titanium, Prahladnagar Corporate Road, Corporate Office :4th Floor, Godrej Coliseum, Satellite, Ahmedabad - 380015 Somaiya Hospital Road, Off Eastern Express Phone: +91-79-4026 5656 Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 Page 1 of 5 5. 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. 6. 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. 7. 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. 8. Users of this rating may kindly refer our website www.careratings.com for latest update on the outstanding rating. 9. 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, Arpita Alax Christian Nikita Akhilesh Goyal Assistant Director Associate Director arpita.christian@careedge.in nikita.goyal@careedge.in Encl.: As above CARE Ratings Limited 32, Titanium, Prahladnagar Corporate Road, Corporate Office :4th Floor, Godrej Coliseum, Satellite, Ahmedabad - 380015 Somaiya Hospital Road, Off Eastern Express Phone: +91-79-4026 5656 Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 Page 2 of 5 Disclaimer This disclaimer pertains to the ratings issued and content published by CARE Ratings Limited (“CareEdge Ratings”). Ratings 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. Any opinions expressed herein are in good faith and are subject to change without notice. The rating reflects the opinions as on the date of the rating. A rating does not convey suitability or price for the investor. The rating agency does not conduct an audit on the rated entity or an independent verification of any information it receives and/or relies on for the rating exercise. CareEdge Ratings has based its ratings/outlook on the information obtained from reliable and credible sources. CareEdge Ratings 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. The users of the rating should rely on their own judgment and may take professional advice while using the rating in any way. CareEdge Ratings shall not be liable for any losses that user may incur or any financial liability whatsoever to the user of the rating. The use or access of the rating does not create a client relationship between CareEdge Ratings and the user. 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However, if any such clauses are introduced and triggered, the ratings may see volatility and sharp downgrades. CareEdge Ratings has established policies and procedures as required under applicable laws and regulations which are available on its website. Privacy Policy applies. For Privacy Policy please refer to https://www.careratings.com/privacy_policy © 2026, CARE Ratings Limited. All Rights Reserved. This content is being published for the purpose of dissemination of information required as per applicable law and regulations and CARE Ratings Limited holds exclusive copyr [Showing first 8,000 characters — download PDF for full document]