Credit Rating- Revision

TOLINS TYRES LIMITED (formerly known as Tolins Tyres Private Limited) Safer- Stronger - Lives Longer Date: June 30, 2026 BSE Limited National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street, Fort Bandra Kurla Complex, Bandra (E) Mumbai – 400001 Mumbai – 400051 Scrip Code – 544254 Symbol – TOLINS Dear Sir/Madam, Sub: Intimation pursuant regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, This is to inform you that the CARE Ratings Limited (CareEdge Ratings) has withdrawn the ratings assigned to the Bank facilities of Tolins Tyres Limited (TTL) with immediate effect, as the company has surrendered the bank facilities as mentioned in the report which are rated and there is no amount outstanding under the facilities as on date. Further, CareEdge Ratings has withdrawn the ratings assigned to the proposed facilities of TTL with immediate effect as the company has declared that it has not availed the same. A press release issued by CARE Ratings Limited is enclosed as Annexure A. You are requested to take the same on your records. For Tolins Tyres Limited Umesh M Company Secretary and Compliance officer Membership No. A72122. Registered Office: 1/47, MC Road, Kalady, Kerala, India – 683 574 Phone: +91 484 246 22 22 Toll Free: 1800 123 21 22 Email: info@tolins.com Website: www.tolinstyres.com ISO 9001:2015 & IATF 16949:2016 Certified Company CIN: L25119KL2003PLC016289 Annexure Press Release Tolins Tyres Limited Facilities/Instruments Amount (₹ crore) Rating1 Rating Action Long Term Bank Facilities - - Withdrawn Short Term Bank Facilities - - Withdrawn Details of instruments/facilities in Annexure-1 The list of facilities / instruments falling under the purview of various financial sector regulators (FSRs), along with the names of respective FSRs has been disclosed under Annexure-7. Rationale and key rating drivers CARE Ratings Limited (CareEdge Ratings) has withdrawn the ratings assigned to the Bank facilities of Tolins Tyres Limited (TTL) with immediate effect, as the company has surrendered the aforementioned bank facilities rated by us and there is no amount outstanding under the facilities as on date. Further, CareEdge Ratings has withdrawn the ratings assigned to the proposed facilities of TTL with immediate effect as the company has declared that it has not availed the same. Analytical approach: Not Applicable Applicable criteria CARE Rating's Policy on Withdrawal of Ratings About the Company Tolins Tyres Private Limited was established in the year 1982 by late Mr. K.P. Varkey subsequently converted to Tolins Tyres Limited (ISIN No.: INE0RWQ01014) as on January 2024 and got listed as in September 2024 on BSE and NSE. The company is being headed by the Managing Director Dr. K.V. Tolin, who is the son of Mr. K.P. Varkey. The company has established itself as a major tyre retreading solutions provider across India and as many as 40 foreign countries, including the Middle East, East Africa, Kenya, Jordan, and Egypt. The major products of the company include two-wheeler, three-wheeler, light commercial vehicle and agricultural tyres, Precured Tread rubber and other accessories including bonding gum, curing bag, tyre flap, repair kit etc. Brief Financials (₹ crore) March 31, 2024 (A) March 31, 2025 (A) March 31, 2026 (AB) Total operating income 158.45 178.75 223.25 PBILDT 28.51 30.94 24.89 PAT 13.64 20.76 15.04 Overall gearing (times) 0.70 0.00 0.01 Interest coverage (times) 3.48 8.41 24.40 A: Audited AB: Abridged; Note: ‘these are latest available financial results’ *PBILDT: Profit before interest, lease rentals, depreciation and tax Status of non-cooperation with previous CRA: Not Applicable Any other information: Not Applicable Rating History for last three years: Annexure-2 Covenants of rated instruments/facilities: Annexure-3 Complexity level of instruments rated: Annexure-4 Lender details: Annexure-5 1Complete definitions of ratings assigned are available at www.careratings.com and other CARE Ratings Limited’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 Annexure-1: Details of Instruments/Facilities Coupon Maturity Size of Rating Assigned Name of the Date of Issuance ISIN Rate Date (DD- the Issue and Rating Instrument (DD-MM-YYYY) (%) MM-YYYY) (₹ crore) Outlook Fund-based - LT-Cash - - - 0.00 Withdrawn Credit Fund-based - LT-Term November - - 0.00 Withdrawn Loan 2031 Fund-based - ST-Packing - - - 0.00 Withdrawn Credit in Foreign Currency Non-fund-based - ST- - - - 0.00 Withdrawn BG/LC Annexure-2: Rating History of last three years Current Ratings Rating History Sr Name of the T Amount Date(s) and Date(s) and Date(s) and Date(s) and . Instrument/ y Outstan Ratin Rating(s) Rating(s) Rating(s) Rating(s) N Bank p ding (₹ g assigned in assigned in assigned in assigned in o. Facilities e crore) 2026-2027 2025-2026 2024-2025 2023-2024 1)CARE BB-; 1)CARE B+; 1)CARE BB-; 1)CARE BB-; Stable; Stable; ISSUER Stable; ISSUER Stable; ISSUER Fund-based - ISSUER NOT 1 LT - - NOT NOT NOT LT-Term Loan COOPERATING COOPERATING* COOPERATING* COOPERATING* (08-Jun-26) (23-Jan-25) (26-Dec-23) (10-Mar-26) 1)CARE BB-; 1)CARE B+; 1)CARE BB-; 1)CARE BB-; Stable; Stable; ISSUER Stable; ISSUER Stable; ISSUER Fund-based - ISSUER NOT 2 LT - - NOT NOT NOT LT-Cash Credit COOPERATING COOPERATING* COOPERATING* COOPERATING* (08-Jun-26) (23-Jan-25) (26-Dec-23) (10-Mar-26) Fund-based - 1)CARE A4; 1)CARE A4; 1)CARE A4; 1)CARE A4; ST-Packing ISSUER NOT ISSUER NOT ISSUER NOT ISSUER NOT 3 Credit in ST - - COOPERATING COOPERATING* COOPERATING* COOPERATING* Foreign * (08-Jun-26) (23-Jan-25) (26-Dec-23) Currency (10-Mar-26) 1)CARE A4; 1)CARE A4; 1)CARE A4; 1)CARE A4; Non-fund- ISSUER NOT ISSUER NOT ISSUER NOT ISSUER NOT 4 based - ST- ST - - COOPERATING COOPERATING* COOPERATING* COOPERATING* BG/LC * (08-Jun-26) (23-Jan-25) (26-Dec-23) (10-Mar-26) *Issuer did not cooperate; based on best available information. LT: Long term; ST: Short term Annexure-3: Detailed explanation of the covenants of the rated instruments/facilities: Not Applicable 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 Annexure-4: Complexity level of instruments rated Sr. No. Name of the Instrument Complexity Level 1 Fund-based - LT-Cash Credit Simple 2 Fund-based - LT-Term Loan Simple 3 Fund-based - ST-Packing Credit in Foreign Currency Simple 4 Non-fund-based - ST-BG/LC Simple Annexure-5: Lender details To view lender-wise details of bank facilities please click here Annexure-6: List of entities consolidated: Not Applicable Annexure-7: List of Facilities/Instruments and FSRs As required by SEBI Circular dated February 10, 2026 to Credit Rating Agencies (CRAs), the list of activities or instruments falling under the purview of various FSRs, along with the names of respective FSRs, is being disclosed below: Sr. Regulator of the Facilities/Instruments Name No. Instruments2 1. Listed / Proposed to be Listed Bonds / Debentures / Preference Shares (All Securities) SEBI 2. Unlisted / Proposed to be Unlisted Bonds / Debentures / Preference Shares (All Securities) MCA 3. Listed PTCs / Securitisation Notes (Originated by Entities Regulated by RBI) * SEBI 4. Listed PTCs / Securitisation Notes (Originated by Entities Not Regulated by RB [Showing first 8,000 characters — download PDF for full document]