Credit Rating- Revision

SYMBOL: MAHESHWARI ISIN: INE263W01010 DATED: 13.10.2026 The Manager-Listing Department, The National Stock Exchange of India Limited, Exchange Plaza, NSE Building, Bandra Kurla Complex, Bandra East, Mumbai-400 051. Subject : Intimation of Credit Rating from Infomerics Valuation and Rating Ltd., (Formerly Infomerics Valuation & Rating Pvt. Ltd.). Reference : Regulation 30 read with Para A of Schedule III of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. Respected Sir/Madam, Pursuant to Regulation 30 read with Para A of Schedule III and Regulations 46(2) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, we hereby inform that the Infomerics Valuation and Rating Ltd., (Formerly Infomerics Valuation & Rating Pvt. Ltd.), has assigned the ratings to Maheshwari Logistics Limited as per details given below: Instrument / Facility Ratings Remarks Long Term Bank Facilities IVR A-/ Stable Reaffirmed Short Term Bank Facilities IVR A2+ Reaffirmed Kindly take the above on your records. Thanking You, Yours Truly, For Maheshwari Logistics Limited Gaurav Rajesh Jhunjhunwala Company Secretary & Compliance Officer Enclosure: As above Inromenrcs VnrunrroN AND Rerutrrtc LrD, lntegrated Financial Omnibus Metrics Research of lnternationalCorporafe Sysfems Infomerics (Formerty lnfomerics valuation And Rating Pvt. Ltd.) Rotings Mr. Pradeep Dad, CEO, Maheshwari Logistics Limited, A2-312, MLL House, Opposite UPL, 1st Phase, GIDC, Vapi, Valsad, Gujarat -396195 October 12,2026 Dear Sir, Credit ratinq for bank facilities After taking into account all the relevant recent developments including operational and financial performance of your company for FY2S(Audited.) and FY26(Audited.), 1. our Rating committee has reviewed the following ratings: Total Bank Loan Facilities Rated Rs. 291.88 Crore Requlator^ IVR AJStable RBI Long Term Rating (Rating Reaffirme{) IVR A2+ RBI Short Term Rating (Rating Reaffirmed) ents fatting under tfre purview of FSRs other than SEBI, tfre grievance/dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available. 2. Details of the rated facilities are provided in Annexure I and list of activities / instruments and names of regulators are given in Annexure ll. 3. For rating symbols for long term and short-term rating, definitions, criteria, methodologies and'appeal policy please refer to our website unrvw.infomerics.com. 4. The press release for the rating(s) will be communicated to you shortly. 5. The above rating is normally valid for a period of one year from the date of the rating committee (that is October 08,20271' 6. lf the proposed long term / short term facility (if any) is not availed within a period of six months / three months respectively from the date of this letter, then the rating Headoffice.,,.-::;-,;,--::"ffi';:-]],."'.*.=k,.0003,(lNDlA) Phone : 011 - 41 410244, 4015457 6, 24611910, 24654796 Fax : 01 1 - 24627 549 corporate office : office No. 1102,1103,1104, B-Wing, Kanakia wall Street, off. Andheri Kurla Road,Andheri East' Mumbai-400093' (lNDlA) phone No. :022 - 623g6023, 62396053 E-mail : info@infomerics.com, website : www.infomerics'com GIN : U32202DL1986PLC02457 5 lnfomerics Rotings T. INFOMERICS reserves the right to undertake a surveillance/review of the rating(s) from time to time, based on circumstances warranting such review, subject to at least one such review/surveillance every year' g. A formal surveillance/review of the rating is normally conducted within 12 months from the date of initial rating/last review of the rating. However, INFOMERICS reserves the right to undertake a surveillance/review of the rating more than once a year if in the opinion of INFOMERICS, circumstances warrant such surveillance/review. g. you shall provide us with a No Defautt Statement as at the last date of the month on the first date of succeeding month without fail. The NDS shall be mailed every month to nds@!nlqmelqs.-qom-and to the mail id of the undersigned' You shall provide the quarterly performance results/quarterly operational data (being submitted to Banks) to us within 6 weeks from the close of each calendar quarter for our reviedmonitoring' 11. you shall furnish all material information and any other information called for by INFOMERICS in a timely manner, to monitor the rating assigned by INFOMERICS' ln the event of failure on your part in furnishing such information, to carry out continuous monitoring of the rating of the bank facilities, INFOMERICS shall carry out the review/annual surveillance based on best available information throughout the lifetime of such bank facitities as per the policy of INFoMERICS. 12.Please note that INFOMERICS ratings are not recommendations to buy, sell or hold any security or to sanction, renew, disburse or recall the bank facilities' INFOMERICS do not take into account the sovereign risk, if any, attached to the foreign currency loans, and the ratings are applicable only to the rupee equivalent of these loans. Page 2 of 7 @ Continuation Sheef No. lnfomerics Rotings 13.Users of this rating may kindly refer our website www.infomerics.com for latest update on the outstanding rating. 14. Further, this is to mention that all the clauses mentioned in the initial rating letter dated July 20, 2023, also stand applicable' lf you need any clarification, you are welcome to approach us in this regard. Thanking you, Yours faithfullY, Nehal(han Manas Bhuwania Senior Manager - Ratings Rating Analyst m bh uwa nia@info merics.c-om neha. khan@infomerics.com issue / issuer as of the date they are assigned and-do not constitute staiements of fact or recommendalion.l]1, 3"ll.-h^"i*r1,:?l ,""rriti"i. The ratirig reflects lnfomerics' opinion on the relative credit risk of the rated instrument or entity at t th ime et .im lne f oi mt i es r ia cs ss i rg an tie nd g. s ln af ro em be ar sic es d r oe ns e inrv fe os rm th ae ti or rig iah nt dto d c ah taa n pg re o v9 id1 ew dl tl b'r yO r t3 hw e t ih sse u c er re od rit or ba tt ain ing es d a ft r oa mny sp oo uin rct ei sn believed by lnfomerics to be accurate and reliable. lnfomerics does not conduct any audit, due diligence or independent verification of the rated issuer or of the information provided to it unless specifically required unJ& appficable regulatory guidelines. The credit ratings are not recommendations to sanction' renew' disburse, or recall the conc6rned bank facilities. WhilJreasonable care has been taken to ensure the a lac wcu wra ic thy o uf t whe ri rn afo nr tm a oti fo an nh ye r ke inin d, .i t p mro ev ri id ce sd o an a en ' nas i rs e' pb ra es si es a tan td t no t oh re wm aa rx raim nu tym ee xx pte ren st sp e or rm ii mtte pd eb dy regarding the accuracy, adequacy, timeliness, or completeness of any.information contained in this report' All entities whose bank facilities/instruments are rated by us have paid a credit rating fee, based on the and type of bank facilities/instruments. lnfomeiics, or any of its group companies, may have " p; i"; r; iOi "O othei permissible services other than credii ratings to the rated issuer in the ordinary course of business. To the maximum extent permitted by applicable iaw, in no event shall lnfomerics, its affiliates, or their respective directors, officers, shareholders, employees, or agents be liable to any party for any direct, inOirect, lncidental, exemplary, compensatory, punitive, special, or cons-equential damages, costs, expenses' i{;if;r, or losses (inciuoing, without limititibn, lost income, Iost profits, or opportunity costs) arising from any use of this report. Rny piison accessing or using this report shall do so at their own risk' lnfomerics shall have no obligation to update, revise or supplem6nt thls ieport after its publication except as required i,,.fl,. IJi',|"u"r" 1.Bs;i"t"ry guidetines. The ratings and reports issued by lnfomerics are intended for use in u""orOunc" M16 3p[1;sabl [Showing first 8,000 characters — download PDF for full document]