Credit Rating- New

Registered Office: Sy.No.251/A/1., Singannaguda Village Mulugu Mandal, Medak, Siddipet - 502279, Telangana, India CIN: L01119TG2007PLC053901 +91 84 5425 3446 • cs@novaagri.in 12th October, 2026 BSE Limited, National Stock Exchange of India Limited, Listing Department, P J Towers, Listing Department, Exchange Plaza, Dalal Street, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 544100 Trading Symbol: NOVAAGRI SUB: Intimation of Revision in Credit Rating Ref.: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/Madam, With reference to the above-cited subject, please find enclosed Credit Rating issued by CARE Ratings Limited (“CARE”) vide letter dated 12th October, 2026 w.r.t. credit facilities obtained by Nova Agritech Limited (‘the Company”) and Nova Agri Sciences Private Limited (“Material Subsidiary”). CARE Ratings Limited has reaffirmed the rating of long-term credit facilities at CARE BBB and revised the outlook from ‘CARE BBB Negative’ to ‘CARE BBB- Stable’ for both Nova Agritech Limited and its Material Subsidiary. Press Release issued by "CARE" is annexed herewith. Reason for As per “CARE”, Revision in outlook of bank facilities of Nova Agritech Limited & its Downgrade of material subsidiary is primarily on account of lower-than expected performance in ratings Q4FY26, as the government-imposed stay on bio-stimulants in July 2025; which formed ~30% segment’s revenue share leading to lower revenue and profitability margins. Further the company’s liquidity remained tight due to higher receivables leading to increased reliance on working capital borrowings and impacted the operating cycle. Please take the same on record and suitably disseminate it to all concerned. Thanking you! For Nova Agritech Limited Gopi Mallikharjuna Rao Avvaru Company Secretary & Compliance Officer Encls as above No. CARE/HRO/RL/2026-27/1375 Shri Kiran Kumar Atukuri Managing Director Nova Agritech Limited SY No 251/A/1, Nova Agritech, Baswapur Road, Singannaguda Village, Siddipet, Hyderabad Telangana 502336 October 12, 2026 Confidential Dear Sir, Credit rating for bank facilities Please refer to our rating letter No. CARE/HRO/RL/2026-27/1328 dated October 01, 2026, and your representation letter dated October 01, 2026 on the above subject. 2. Our Rating Committee has carefully reconsidered the representation made by you regarding the revision in rating assigned to the above mentioned bank facilities. It has, however, not been found possible to upgrade the rating for the facilities and the rating stands at ‘CARE BBB-; Stable' for long-term facilities. In this connection, we assure you that the facts mentioned in your letter under reference were considered while deciding the rating.l If you need any clarification, you are welcome to approach us in this regard. Thanking you, Yours faithfully, Bhushanreddy Ankilla Niraj Thorat Lead Analyst Assistant Director CARE Ratings Limited 401, Ashoka Scintilla, 3-6-520, Himayat Nagar, Corporate Office :4th Floor, Godrej Coliseum, Hyderabad - 500 029 Somaiya Hospital Road, Off Eastern Express Phone: +91-40-4010 2030 Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 Page 1 of 2 Bhushanreddy Ankilla Niraj Thorat bhushanreddy.ankilla@careedge.in niraj.thorat@careedge.in 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. CAREEDGE RATINGS DISCLAIMS WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR OTHER WARRANTIES OR CONDITIONS, TO THE EXTENT PERMITTED BY APPLICABLE LAWS, INCLUDING WARRANTIES OF MERCHANTABILITY, ACCURACY, COMPLETENESS, ERROR-FREE, NON- INFRINGEMENT, NON-INTERRUPTION, SATISFACTORY QUALITY, FITNESS FOR A PARTICULAR PURPOSE OR INTENDED USAGE. Most entities whose bank facilities/instruments are rated by CareEdge Ratings have paid a credit rating fee, based on the amount and type of bank facilities/instruments. CareEdge Ratings or its subsidiaries/associates may also be involved with other commercial transactions with the entity. CareEdge Ratings does not act as a fiduciary by providing the rating. The ratings are intended for use only within the jurisdiction of India. The ratings of CareEdge Ratings do not factor in any rating-related trigger clauses as per the terms of the facilities/instruments, which may involve acceleration of payments in case of rating downgrades. 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 copyright over the same. Any reproduction, retransmission, modification, derivative works or use or reference to the contents, in whole, in part or in any form, is prohibited except with prior express written consent from CARE Ratings Limited. CARE Ratings Limited 401, Ashoka Scintilla, 3-6-520, Himayat Nagar, Corporate Office :4th Floor, Godrej Coliseum, Hyderabad - 500 029 Somaiya Hospital Road, Off Eastern Express Phone: +91-40-4010 2030 Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 Page 2 of 2 Press Release Nova Agritech Limited October 12, 2026 Name of the Amount Facilities/Instruments Rating2 Rating Action Regulator1 (₹ crore) Downgraded from CARE BBB; Long-term bank facilities RBI 30.99 CARE BBB-; Stable Negative Details of instruments/facilities in Annexure-1. Rationale and key rating drivers Revision in the rating to bank facilities of Nova Agritech Limited (NAL) factors in moderation in scale of operations and profitability, and increased working capital intensity, which adversely affected liquidity. Elongation in operating cycle considering stretched receivables led to sustained reliance on bank borrowings, as reflected in the high average utilisation of fund-based working capital limits, occasional use of ad hoc facilities, and low free cash balances. The rating continues to derive comfort from the group’s comfortable capital structure and satisfactory debt coverage indicators, despite moderation during the year. It also factors in extensive experience of promoters and management team, the group’s diversified product portfolio across c [Showing first 8,000 characters — download PDF for full document]