Credit Rating

Ref: MEIL/SEC/2026-27/27 24th July, 2026 National Stock Exchange of India Limited. Exchange Plaza, 5th Floor, Plot No. C/1 G Block, Bandra- Kurla Complex, Bandra (East), Mumbai – 400051 Symbol: MARINE ISIN: INE01JE01028 Dear Sirs/Madam, Sub: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding credit ratings by ICRA Limited (“ICRA”) Pursuant to Regulation 30 read with Schedule III, Part A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that ICRA Limited ("ICRA") has assigned ratings to the Company. The rating letter received from ICRA Limited is enclosed herewith as Annexure 1. This intimation is also being uploaded on the website of the company https://www.marineelectricals.com/credit-rating/ You are requested to take the same on record & oblige. Thanking You. Yours faithfully, For Marine Electricals (India) Limited Deep Shah Company Secretary & Compliance Officer ACS: 61488 Encl: a/a ICRA Limited ICRA/ Marine Electricals (I) Limited /23072026/1 Date: July 23, 2026 Mr. Vinay Uchil Director Marine Electricals (I) Limited B-1, Udyog Sadan-3, MIDC, Marol Industrial Area, Andheri (East), Mumbai - 400 093. Dear Sir, Re: ICRA’s Credit Rating for below mentioned Instruments of Marine Electricals (I) Limited As per the Rating Agreement executed with ICRA Limited, ICRA’s Rating Committee has taken the following rating actions for the mentioned instruments of your company. Rated Amount Financial Sector Instrument Rating Action1 (Rs. crore) Regulator# Long-term Fund-based – Term loan 30.00 [ICRA]A- (Stable); Assigned RBI [ICRA]A- (Stable); upgraded from Long-term – Fund-based – Cash credit 73.00 [ICRA]BBB+(Stable) and assigned for RBI enhanced limits Short-term – Interchangeable* (27.00) [ICRA]A2+; upgraded from [ICRA]A2 RBI Short-term – Non-fund-based – Bank [ICRA]A2+; upgraded from [ICRA]A2 and 294.50 RBI guarantee assigned for enhanced limits Short-term – Interchangeable^ (106.00) [ICRA]A2+; upgraded from [ICRA]A2 RBI [ICRA]A- (Stable)/[ICRA]A2+; upgraded Long-term/Short-term – Unallocated 22.00 from [ICRA]BBB+(Stable)/ [ICRA]A2 and RBI limits assigned for enhanced limits Total 419.50 *Sublimit of Cash Credit, ^Sublimit of Bank Guarantee #SEBI’s grievance redressal/dispute resolution and SEBI investor protection mechanisms such as SCORES and ODR shall not be 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, or the 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 ICRA website at www.icra.in for latest rating(s) of the company. The rating(s) are specific 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-schedulement or 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 1 Complete definitions of the ratings assigned are available at www.icra.in. Building No. 8, 2nd Floor, Tower A Tel.: +91.124 .4545300 Website: www.icra.in DLF Cyber City, Phase II CIN: L749999DL1991PLC042749 Email: info@icraindia.com Gurugram – 122002, Haryana Helpdesk: +91 9354738909 Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel.: +91.11.23357940-41 RATING ● RESEARCH ● INFORMATION from raising funds through issuance of debt securities 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 Suprio Banerjee Vice President and Co-Group head supriob@icraindia.com Sensitivity Label : Restricted Annexure Details of Bank Limits Rated by ICRA Amount (Rs. crore) Rating Rating Assigned On (Rated on Long-Term Scale) Term Loan Yes Bank Limited 30.00 Sub Total (A) 30.00 Cash Credit Limits State Bank of India 28.00 [ICRA]A-(Stable) July 21, 2026 IndusInd Bank Limited 15.00 Kotak Mahindra Bank Limited 10.00 Yes Bank Limited 20.00 Sub Total (B) 73.00 Total (A+B) 103.00 Details of Bank Limits Rated by ICRA Amount (Rs. crore) Rating Rating Assigned On (Rated on Short-Term Scale) Bank Guarantee Limits State Bank of India 60.00 IndusInd Bank Limited 84.50 Kotak Mahindra Bank Limited 65.00 Yes Bank Limited 85.00 Sub Total (A) 294.50 Interchangeable* State Bank of India – EPC (5.00) IndusInd Bank Limited – LC (10.00) IndusInd Bank Limited – WCDL (12.00) [ICRA]A2+ July 21, 2026 Sub Total (B) (27.00) Interchangeable^ State Bank of India – LC (45.00) IndusInd Bank Limited – LC (25.00) Kotak Mahindra Bank Limited – LC (10.00) Yes Bank Limited – LC (25.00) State Bank of India – CEL (1.00) Sub Total (C) (106.00) Total (A) 294.50 *Sublimit of Cash Credit, ^Sublimit of Bank Guarantee Details of Bank Limits Rated by ICRA Amount (Rs. crore) Rating Rating Assigned On (Rated on Long-Term/Short-Term Scale) Unallocated Limits [ICRA]A-(Stable)/ Not Applicable 22.00 July 21, 2026 Total 22.00 Sensitivity Label : Restricted