Credit Rating

06th October 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, Block G, Bandra Dalal Street, Mumbai - 400001 Kurla Complex, Bandra (East), Mumbai 400051 Scrip Code: 523025 Scrip Symbol: SAFARI Subject : Long Term and Short-Term Credit Ratings re-affirmation by CRISIL Ratings Limited (‘CRISIL’) Reference : Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) Dear Sir/ Madam, With reference to Regulation 30 read with Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that CRISIL, credit rating agency, has reaffirmed the rating for the credit facilities availed by the Company as under: Total Bank Loan Facilities Rated Rs. 150 Crore Long Term Rating CRISIL AA-/Stable (Reaffirmed) Short Term Rating CRISIL A1+ (Reaffirmed) The credit rating letter received from CRISIL is enclosed. The disclosure will also be uploaded on the website of the Company at www.safaribags.com. You are requested to take the same on record. For Safari Industries (India) Limited Abhijaat Sinha Company Secretary & Legal Head Encl: As above. Regd Off: Safari Industries (India) Ltd. 302-303, A Wing, The Qube, CTS No. 1498, A/2, M V Road, Marol, Andheri (E), Mumbai - 400059, Maharashtra, India Tel: 022 4038 1888 | CIN: L25200MH1980PLC022812 | Email id: corporate@safari.in | Website: www.safaribags.com Crisil Ratings CONFIDENTIAL RLJGDS18620/406194/BLR/1026/160604 October 05, 2026 Mr. Aditya Bhargava Chief Financial Officer Safari lndushies India Limited 302-303, A Wing, Toe Qube, CTS No. 1498, A/2, M. V. Road, Maro!, Andheri (East), Mlll.1lbai City -400059 7045957661 Dear Mr. Aditya Bhargava, Re: Review of Crisil Ratings on the bank facilities of Safari Industries India Limited All ratings assigned by Crisil Ratings are kept u.nder continuous sU1veillance 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.150 Crn1·e . . Loni?. Te1.·m Ratin2. Crisil AA--/Stable <Reaffirmed) Short Term Ratin2. Crisil Al+ <Reaffu·med) (Bank-wise details as per Annexure 1) As per our Rating Agreement, Crisil Ratings would disseminate the ratings, along with the outlook, tluough its publications and other media, and keep the ratings, along with the outlook, u.nder surveillance over the life of the instrlllnent/facility. Crisil Ratings rese1ves the right to withdraw, or revise the ratings, along with the outlook, at any time, on the basis of new inf01mation, or u.navailability of info1mation, or other circlllllStances 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 necessaiy. Crisil Ratings products / activities or ratings of instmments other than securities that are listed or proposed to be listed may fall under the purview of financial sector regulators (FSRs) other thai1 SEBI. In respect of such products / activities or ratings (under the plllview of oilier FSRs such as Rese1ve Bank of India (RBD, Ministiy of Corporate Affairs (MCA), Insurance Regulatory and Development Authority of India (IRDAD, ainong 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 vaii.ous FSRs along with the names of respective FSRs has been duly disclosed by C1i.sil 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-instmments-and­ naines-of-regulators.htinl Crisil This letter will remain valid till Mai·ch 31, 2027. After this date, please insist for a new rating letter (dated later than 31, 2027). Should you require any clarification, please feel free to get in touch with us. With waim regards, Disclaimer: A rating by Crisil Ratings rellects Crisil Ratings' current opinion on the likelihood of timely payment of the obligations under the rated inslflJment, and does not constitute an audft of the rated entity by Crisil Ratings. Our ratings are based on information provided by the issuer or obtained by Crisil Ratings from sources ft 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 I sell or hold the rated instrument; ft 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 ii has no financial liability whatsoever to the subscribers I users I transmitters I 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 assoeiates may have other commereial 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 He/pdesk at Crisilrati crisil.com or at 1800-267-3850 Crisil Ratings Limited Corporate Identity Number: U67100MH2019PLC326247 Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai 400 072, India. Phone: +91226137 3000 I www.crisilratings.com a company of S&P Global Crisil Ratings Yo ms sincerely, Rushabh Pramod Borkar Nivedita Shi.bu Associate Director -Crisil Rtaings Director -Crisil Ratings Annexure 1 -Bank-wise details ofval"ious facility classes (outstanding facilities) Amount(Rs. S.No. Bank Facility Bank Outstanding Rating in Crnre) 1 25 Fund-Based Facilities Induslnd Bank Limited Crisil AA-/Stable 2 33.6 Fund-Based Facilities HDFC Bank Limited Crisil AA-/Stable 3 11.98 Fund-Based Facilities Axis Bank Limited Crisil AA-/Stable 4 40.1 Fund-Based Facilities ICICI Bank Limited Crisil AA-/Stable 5 39.32 Non-Fund Based Limit Axis Bank Limited Crisil Al+ Total 150 1-5. Fullyf angible between fond based and non-fund basedf acilities 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 conis ders 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 I 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 thal it has no financial liability whatsoever to the subscribers I users I transmitters I 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 ,vww.crisilrati [Showing first 8,000 characters — download PDF for full document]