Credit Rating- Revision

Date 30 September 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Block G, C/1, Bandra Kurla Phiroze Jeejeebhoy Towers, Complex, Bandra (E), Mumbai – 400051 Dalal Street, Mumbai – 400001 Symbol: SAPPHIRE Scrip Code: 543397 Dear Sir/Madam, Subject: Intimation of Credit Rating under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that ICRA Limited, Credit Rating Agency, has upgraded its ratings for the debt instruments/facilities of the Company as under: Sapphire Foods India Limited +91 022 67522300 CIN: L55204HR2009PLC145722 info@sapphirefoods.in www.sapphirefoods.in Registered Office: SCO 328, Sector - 9, Panchkula -134109, Haryana Corporate Office: 702, Prism Tower, A-Wing, Mindspace, Link Road, Goregaon (W), Mumbai- 400062 The Credit Rating Letter issued by ICRA Limited is enclosed herewith and the same is also available on the website of the Company. Request you to kindly take the same on record. TFohra nSkaipnpgh yiorue, Foods India Limited Sachin Dudam Company Secretary and Compliance Officer Encl: ICRA/Sapphire Foods India Limited/30092026/1 Date: September 30, 2026 Mr. Punit Jhunjhunwala Senior Vice President & Deputy CFO Sapphire Foods India Limited 702, Prism Tower, A Wing, Mindspace, Link Road, Goregaon (West), Mumbai 400062 Dear Sir, Re: Sapphire Foods India Limited taken the following rating actions for the mentioned instruments of your company. Rated Financial Instrument Amount Rating Action1 Sector (Rs. crore) Regulator# Long-term Fund based [ICRA]A+; upgraded from [ICRA]A and continues on 102.02 RBI Term Loan Watch with Developing Implications Long-term Non-fund [ICRA]A+; upgraded from [ICRA]A and continues on 19.00 RBI based Limits Watch with Developing Implications Long-term/Short-term - [ICRA]A+; upgraded from [ICRA]A and continues on Fund based/Non-fund Watch with Developing Implications/ [ICRA]A1; 42.00 RBI based Working Capital upgraded from [ICRA]A2+ and continues on Watch Facilities with Developing Implications Short-term Fund based [ICRA]A1; upgraded from [ICRA]A2+ and continues (35.00) RBI Interchangeable Limits on Watch with Developing Implications Long-term Non-fund [ICRA]A+; upgraded from [ICRA]A and continues on based Interchangeable (42.00) RBI Watch with Developing Implications Limits [ICRA]A+; upgraded from [ICRA]A and continues on Long-term/Short-term Watch with Developing Implications/ [ICRA]A1; 36.98 RBI Unallocated Limits upgraded from [ICRA]A2+ and continues on Watch with Developing Implications Total 200.00 shall not be available for activities and instruments which fall under the regulatory purview of Financial Sector Regulators other than SEBI. The aforesaid rating(s) will become due for surveillance within one year from the date of rating communication letter. However, ICRA reserves the right to review and/or, revise the above rating(s) at any time based on new information becoming available, orthe required information not being available, or other circumstances that 1Complete definitions of the ratings assigned are available at www.icra.in. ICRA Limited Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel. +91-11-23357940-41 Building No. 8, 2nd floor, Tower A, DLF Cyber City, Phase II, Gurugram-122002 www.icra.in info@icraindia.com +91-93547-38909 +0124-44554455330000 CCIINN:: LL7744999999DDLL11999911PPLLCC004422774499 Sensitivity Label : Restricted ICRA believes could have an impact on the rating(s). Therefore, request the lenders and investors to visit ICRAwebsiteatwww.icra.infor latest rating(s) of the company. The rating(s) are specific to the terms and conditions of the instruments as indicated to us by you, and any change in the terms or size of the same would require a review of the rating(s) by us. In case there is any change in the terms and conditions or the size of the rated instrument, the same must be brought to our notice before the instrument is used by you. In the event such changes occur after the rating(s) have been assigned by us and their use has been confirmed by you, the rating(s) would be subject to our review, following which there could be a change in the rating(s) previously assigned. Notwithstanding the foregoing, any change in the over-all limit of the instrument from that specified in this letter, would constitute an enhancement that would not be covered by or under the said Rating Agreement. The rating(s) assigned must be understood solely as an opinion and should not be treated, or cause to be treated, as recommendation to buy, sell, or hold the rated instrument availed/issued by your company. You are also requested to forthwith inform us about any default or delay in repayment of interest or principal amount of the instrument rated, as above, or any other debt instruments/ borrowing and keep us informed of any other developments which may have a direct or indirect impact on the debt servicing capability of the company including any proposal for re-schedulement or postponement of the repayment programmes of the dues/ debts of the company with any lender(s) / investor(s), or occurrence of any significant development that could impact the ability of the company to raise funds such as restriction imposed by any authority from raising funds through issuance of debt securities through electronic bidding system. Further, you are requested to inform us immediately as and when the borrowing limit for the instrument rated, as above, or as prescribed by the regulatory authority(ies) is exceeded. We look forward to your communication and assure you of our best services. With kind regards, Yours sincerely, For ICRA Limited Srikumar K Senior Vice President and Co-Group Head ksrikumar@icraindia.com Sensitivity Label : Restricted Annexure Details of Bank Limits Rated by ICRA (Rated on Long-Term Scale) Particulars Amount (Rs. Rating Rating Assigned crore) On Term Loan HDFC Bank Limited [ICRA]A+; Rating Watch September 25, 102.02 with Developing Implications 2026 Non-fund based Limits HDFC Bank Limited [ICRA]A+; Rating Watch September 25, 19.00 with Developing Implications 2026 Interchangeable Limits IDFC FIRST Bank Limited [ICRA]A+; Rating Watch September 25, (42.00) with Developing Implications 2026 Total 121.02 Details of Bank Limits Rated by ICRA (Rated on Short-Term Scale) Amount (Rs. Rating Assigned Particulars Rating crore) On Interchangeable Limits [ICRA]A1;Rating Watch with September 25, IDFC FIRST Bank Limited (35.00) Developing Implications 2026 Total (35.00) Details of Bank Limits Rated by ICRA (Rated on Long term/Short-Term Scale) Amount (Rs. Rating Assigned Particulars Rating crore) On Working Capital Facilities [ICRA]A+; Rating Watch with Developing Implications September 25, IDFC FIRST Bank Limited 42.00 /[ICRA]A1; Rating Watch with 2026 Developing Implications Unallocated Limits [ICRA]A+; Rating Watch with Developing Implications/ September 25, Unallocated limits 36.98 [ICRA]A1; Rating Watch with 2026 Developing Implications Total 78.98 Sensitivity Label : Restricted