Credit Rating

ISGEC ISGEC HEAVY ENGINEERING LTD. Noida -201 301 (U.P.) India (GST No.: 09AAACT55401(2Z4) Tel.: +91·120-4085000/01 /02 Fax: +91·120-2412250 E-mail· corpcomm@isgec.com www.isgec.com Date: October 13, 2026 To, To, BSE Ltd. National Stock Exchange of India Limited P J Towers, Dalal Street, Exchange Plaza, C-1, Block G, Mumbai 400 001 Sandra Kurla Complex, Bandra (E) Mumbai - 400 051 Company Scrip Code: 533033 Scrip Code: ISGEC Furnishing of Information as per Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Listing Regulations") Dear Sir(s)/Madam(s), 1. ICRA Limited has reviewed and assigned credit rating for Rs.905 Crore limits of line of credit to Isgec Hitachi Zosen Limited, Subsidiary and Joint Venture of the Company. 2. The Comparative ratings before and after receipt of above communication are given below: . Rating as per communication Rating as per communication Details of Bank Limits dated September 02, 2025 dated October 12, 2026 Rated by ICRA Amount (Rated on Long-term Scale) (RA sm /Co ru on rt e l I A s s1• g ne d R a t · m g Assigned Rating (Rs/Crorel Fund Based /Non Fund Based -WorkinJ? Capital Facilities Standard Chartered Bank 75 75 State Bank of India 140 55 HSBC Limited 40 40 Kotak Mahindra Bank Limited 110 110 HDFC Bank Limited 135 135 [ICRA]A (Stable)/ [ICRA]A (Stable)/ YES Bank Limited 140 140 IDFC FIRST Bank Limited 100 100 Federal Bank Limited so so RBL Bank Limited 60 100 ICICI Bank Limited 40 40 Unallocated Limits 15 60 Total 905 905 3. There is no change in the credit rating compared to the credit rating assigned previously. 4, The letter issued by ICRA Limited is attached herewith as Annexure-1. S. This intimation is also available on the website of the Company at www.isgec.co Page 1 of2 Regd. Offlce: Radaur Road, Yamunanagar 135 001 (Haryana) India GIN: L23423HR1933PLC000097 A-4. Sector-24. Noida -201 301 (U.P.) India (GST No.: 09AAACT5540K2Z4) Tel .. +91-120-4085000/01 /02 Fax: +91-120-2412250 E-mail· corpcomm@isgec.com www.isgec.com 6. Please take the same on record. Yours faithfully, For lsgec Heavy Engineering Limited Fo ea ngineering Limited Kalyan Ghosh Chief Legal Officer & Compliance Officer Chief ega 1cer & Complia Membership No. A10790 Membership No. A10790 Address: A~4, Sector-24, Noida-201301, Address: A-4, Sector-24, Noid Uttar Pradesh Uttar Pradesh Encl.: As above Page 2 of2 CIN: L23423HR1933PLC000097 Regd. Office: Radaur Road, Yamunanagar 135 001 (Haryana) India Annexure-I ICRA/ISGEC Hitachi Zosen Limited/12102026/1 Date: Oct12, 2026 Mr. Sanjay Gulati Managing Director ISGEC Hitachi Zosen Limited A-4, Sector 24, Noida 201 301 Uttar Pradesh Dear Sir, Re: ISGEC Hitachi Zosen Limited following rating actions for the mentioned instruments of your company. Rated Amount(Rs. Financial Sector Instrument Rating Action1 crore) Regulator# Long-term/Short-term-Fund- [ICRA]A(Stable) / 845.00 RBI based/Non-fund based-Others [ICRA]A2+; Reaffirmed Long-term/Short-term- [ICRA]A(Stable) / Unallocated limits-Unallocated 60.00 RBI [ICRA]A2+reaffirmed limits Total 905.00 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 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) arespecific 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-schedulementor 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 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 +0124-4545300 CIN: L74999DL1991PLC042749 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 Prashant Vasisht Senior Vice President and Co-Group Head Prashant.vasisht@icraindia.com Sensitivity Label : Internal Annexure Details of Bank Limits Rated by ICRA Amount (Rs. crore) Rating Rating Assigned On (Rated on Long-Term/Short term Scale) Fund-based/Non-fund based Working Capital Facilities ICICI Bank Limited 40.00 Kotak Mahindra Bank Limited 110.00 HDFC Bank Limited 135.00 Standard Chartered Bank 75.00 State Bank of India 55.00 HSBC Limited 40.00 [ICRA]A(Stable) / [ICRA]A2+ Oct 01, 2026 YES Bank Limited 140.00 IDFC FIRST Bank Limited 100.00 Federal Bank Limited 50.00 RBL Bank Limited 100.00 Sub-Total (A) 845.00 Unallocated Limits (B) 60.00 Total(A+B) 905.00