Long Term Credit Rating of the Company - Crisil BBB-Stable

Date: 26.10.2026 BSE Limited (“BSE”), Corporate Relationship Department, 2nd Floor, New Trading Ring, P.J. Towers, Dalal Street, Mumbai – 400 001. Dear Sir/Madam, Sub: Intimation of Revised credit rating of the Vega Jewellers Limited (Formerly known as PH Trading Limited) under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Unit: BSE Scrip Code: 512026; ISIN: INE603D01017 Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we hereby intimate that CRISIL Limited ("Credit Rating Agency"), vide its intimation dated 22nd October 2026, has reaffirmed its long-term rating of the Company as “CRISIL BBB-/ Stable” (read as Crisil BBB Minus) on the ₹ 138.00 Crore bank loan facilities of the Company. The outlook is 'Stable'. Please note that the revised rating of the Company will also be made available on the Website of the Company: https://vegajewellers.com/pages/disclosure-under-regulation-46-of-sebi-lodr We request you to kindly take the above information on record. Thanking you. Yours faithfully, For Vega Jewellers Limited (Formerly, PH Trading Limited) B. Kiran Kumar Company Secretary & Compliance Officer VEGA JEWELLERS LIMITED (Formerly Known as PH Trading Limited) Regd O(cid:431)ice: One Lodha Place, 14th Floor, Unit 1403, Senapati Bapat Marg, Lower Parel, Delisle Road, Mumbai, Maharashtra, India, 400013 CIN: L47733MH1982PLC437771, Email: cs@vegajewellers.com, Phone No. 7075567702 CONFIDENTIAL RL/GDS16042/408978/BLR/1026/162084 October 22, 2026 Mr. Siva Prasad Panguluri Chief Financial Officer Vega Jewellers Limited 3rd Floor, Banjara Hills Road No. 12, above JSP Hyundai Showrooom opp. : Police twin Towers, Venkateswara Colony, Banjara Hills, Hyderabad Hyderabad - 500028 9154711796 Dear Mr. Siva Prasad Panguluri, Re: Review of Crisil Ratings on the bank facilities of Vega Jewellers 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.138 Crore (Enhanced from Rs.88 Crore) Long Term Rating Crisil BBB-/Stable (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 of this 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://www.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 March 31, 2027). Should you require any clarification, please feel free to get in touch with us. With warm regards, Yours sincerely, Disclaimer: A rating by Crisil Ratings reflects Crisil Ratings’ current opinion on the likelihood of timely 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 not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. Crisil Ratings’ criteria are available without charge to the public on the web site, www.crisilratings.com. Crisil Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by Crisil Ratings, please visit www.crisilratings.com or contact Customer Service Helpdesk at Crisilratingdesk@crisil.com or at 1800-267-3850 Himank Sharma Nivedita Shibu Director - Crisil Ratings Director - Crisil Ratings Annexure 1 - Bank-wise details of various facility classes (outstanding facilities) Amount (Rs. S.No. Bank Facility Bank Outstanding Rating in Crore) 1 Cash Credit State Bank of India 50 Crisil BBB-/Stable 2 Cash Credit Union Bank of India 10 Crisil BBB-/Stable 3 Cash Credit HDFC Bank Limited 67 Crisil BBB-/Stable 4 Cash Credit Axis Bank Limited 5.77 Crisil BBB-/Stable 5 Working Capital Term Loan HDFC Bank Limited 5.23 Crisil BBB-/Stable Total 138 Annexure: List of instruments and names of regulators of the instruments As required by SEBI CRA Circular dated Feb 10, 2026, a list of activities or instruments falling under the purview of various FSRs, along with the names of respective FSRs, is being disclosed below: A. Rating activities Sr. No. Instrument / activity Name Regulator of the instruments 1 Listed/Proposed to be listed bonds/debentures/preference share (all securities) SEBI 2 Unlisted/Proposed to be unlisted Bonds/Debentures/ Preference share (all securities) MCA 3 Listed PTCs / Securitisation Notes (originated by entities regulated by RBI)* $. RBI 4 Listed PTCs / Securitisation Notes (originated by entities not regulated by RBI)* SEBI 5 Unlisted PTCs / Securitisation Notes (originated by entities regulated by RBI)* RBI 6 Listed Commercial Paper and NCDs with original maturity less than 1 year RBI 7 Unlisted Commercial Paper and NCDs with original maturity less than 1 year RBI 8 Loan Facilities (Fund/Non-Fund Based) from Bank/NBFCs/NHB/FIs ^ RBI 9 External Commercial Borrowings and other similar borrowings RBI 10 Certificates of Deposit RBI 11a Fixed Deposits raised by NBFCs,HFCs, FIs RBI 11b Fixed Deposits raised by Banks + 12 Fixed Deposits raised by corporates other than NBFCs, Banks, HFCs, FIs MCA 13 Inter Corporate Deposits/Loans extended by Corporates MCA 14 Borrowing programme ~ - 15 Issuer Ratings # - 16 Credit Ratings for Capital Protection Oriented Schemes (by Mutal Funds and AIFs) SEBI 17 Credit quality ratings (CQRs) for Mutual Fund Schemes and Schemes of AIFs SEBI 18 Listed Security Receipts $. RBI 19 Unlisted Security Receipts RBI 20 Independent Credit Evaluation (ICE) R [Showing first 8,000 characters — download PDF for full document]