As per Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, find enclosed herewith an Intimation for Credit Rating.

Gulshan Polydls Limited CIN: L24231UP2000PLC034918 ( ’ Corporate Office: G-§1, Preet Vibar, Delhi-1100I9n2di,a GULSHAN | P&hone : 015 11 499992 00 -mail - cs@gulshanindcioam GPL\SEC\31\2026-27 July 24,2026 BSE Limited National Stock Exchange of India Limited Department of Corporate Service, Listing Department Floor 25, P.]. Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai Bandra (E), Mumbai Maharashtra- 400 001 Maharashtra-400 051 Scrip Code: 532457 Symbol: GULPOLY Subject:Intimation for Credit Rating under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 (‘Listing Regulations’) Dear Sir/Ma’am, Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015, we are pleased to inform you that CRISIL Ratings Limited (CRISIL) vide its letter dated July 24, 2026, has retained our existing credit rating, as per the details mentioned below: Total Bank Loan Facilities Rated | Rs.562.3 Crores (Enhanced from Rs. 525 Crores) Long Term Rating Crisil A/Stable (Outlook revised from “Negative”; Rating Reaffirmed) Short Term Rating Crisil A1 (Reaffirmed) This is for your information and records. A copy of the credit rating letter issued by CRISIL Ratings Limited is enclosed herewith for your reference and records. Thanking you, Yours faithfully For Gulshan Polyols Limited Reetika Pant Company Secretary Enclosed: As above Regd. Off.: 9th K.M., Jansath Road, Muzaffarnagar, (U.P.) 251001, Ph.: (0131)32958800, Fax: (0131) 2661378 Crisil CONFIDENTIAL Ratings RL/GDS6847/393385/BLR/0726/154102 July 24,2026 Mr. Rajiv Gupta Chief Financial Officer Gulshan Polyols Limited G-81, Preet Vihar, East Delhi - 110092 9870194090 Dear Mr. Rajiv Gupta, Re: Review of Crisil Ratings on the bank facilities of Gulshan Polyols Limited All ratings assigned by Crisil Ratings are kept under continuous surveillance and review. Please find in the table below the ratings outstanding for the debt instruments/facilities of the company, and the rating actions by Crisil Ratings on the ratings as on date. Total Bank Loan Facilities Rated Rs.562.3 Crore (Enhanced from Rs.525 Crore) Long Term Rating Crisil A/Stable (Outlook revised from 'Negative'; Rating Reaffirmed) Short Term Rating Crisil A1 (Reaffirmed) (Bank-wise details as per Annexure 1) As per our Rating Agreement, Crisil Ratings would disseminate the ratings, along with the outlook, through its publications and other media, and keep the ratings, along with the outlook, under surveillance over the life of the instrument/facility. Crisil Ratings reserves the right to withdraw, or revise the ratings, along with the outlook, at any time, on the basis of new information, or unavailability of information, or other circumstances which Crisil Ratings believes may have an impact on the ratings. Please visit www.crisilratings.com and search with the name of the rated entity to access the latest rating/s. In the event of the company not availing the proposed facilities within a period of 180 days from the date oft his letter, a fresh letter of revalidation from Crisil Ratings will be necessary. Crisil Ratings products / activities or ratings of instruments other than securities that are listed or proposed to be listed may fall under the purview of financial sector regulators (FSRs) other than SEBI. In respect of such products / activities or ratings (under the purview of other FSRs such as Reserve Bank of India (RBI), Ministry of Corporate Affairs (MCA), Insurance Regulatory and Development Authority of India (IRDAI), among others), the grievance / dispute redressal and investor protection mechanisms available under SEBI regulations shall not be applicable. A list of products/activities or ratings of instruments falling under the purview of various FSRs along with the names of respective FSRs has been duly disclosed by Crisil Ratings on its website. A link to the same has been provided below for ready reference: https:/Avww crisilratings.com/en/home/our-business/ratings/regulatory-disclosures/list-of-activities-instruments-and- names-of-regulators.html This letter will remain valid till March 31, 2027. After this date, please insist for a new rating letter (dated later than Ma l 31,2027). IS| ings Should you require any clarification, please feel free to get in touch with us. “ ‘With warm regards, Yours sincerely, Disclaimer. A rafing by Crisil Ratings reflects Crisil Rafings current opinion on the likelihood of fimely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by Crisil Ratings. Our ratings are based on information provided by the issuer or obtained by Crisil Ratings from sources it considers reliable. Crisil Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by Crisil Ratings is not a recommendation to buy /sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. Crisil Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. Crisil Ratings is notr esponsible for any errors and especially States that it has no financial liability whatsoever to the subscribers/ users /transmitters / distributors ofi ts ratings. Crisil Ratings’criteria are available without charge o the public on the web site, v crisilsatings com. Crisil Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on_any_insirument_of any company rated by Crisil Ratings, please visit www.crisilratingscom or confact Customer Service Helpdesk at Crisilratingdesk@crisil.com o at 1800-267-3850 Crisil Ratings Limited Corporate Identity Number: U67100MH2019PLC326247 Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai 400 072, India. Phone: +91 226137 3000 | www.crisilratings.com acompany of S&P Global Crisil Ratings Gaurav Arora Nivedita Shibu Associate Director - Crisil Ratings Director - Crisil Ratings Annexure 1 - Bank-wise details of various facility classes (outstanding facilities) - Amount (Rs. . . S.No. | Bank Facility Bank in Crore) Outstanding Rating 1 Cash Credit State Bank of India 130 Crisil A/Stable 2| Cash Credit Hongkong & Shanghal 100 Crisil A/Stable Banking Co 3 Non-Fund Based Limit State Bank of India 40 Crisil Al 4 Proposed Cash Credit Limit HDFC Bank Limited 34.16 Crisil A/Stable 5 | Proposed Working Capital | _ 373 Crisil A/Stable Facility 6 | Tetm Loan Hongkong & Shanghal 737 Crisil A/Stable Banking Co 7 Term Loan State Bank of India 146.47 Crisil A/Stable Total 562.3 Disclaimer. A rafing by Crisil Ratings reflects Crisil Rafings current opinion on the likelihood of fimely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by Crisil Ratings. Our ratings are based on information provided by the issuer or obtained by Crisil Ratings from sources it considers reliable. Crisil Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by Crisil Ratings is not a recommendation to buy /sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. Crisil Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. Crisil Ratings is notr esponsible for any errors and especially States that it has no financial liability whatsoever to the subscribers/ users /transmitters / distributors ofi ts ratings. Crisil Ratings’criteria are available without charge o the public on the web site, v crisilsatings com. Crisil Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on_any_insirument_of any company rated by Crisil Ratings, please visit www.crisilratingscom or confact Customer Serv [Showing first 8,000 characters — download PDF for full document]