Credit Rating

KEI Industries Limited Registered and Corporate Office: D-90, Okhla Industrial Area, Phase-1, New Delhi- 110020 CIN: L74899DL1992PLC051527 Tel.: +91-11-26818840/8642/0242, Email: info@kei-ind.com Website: www.kei-ind.com Date: 23.06.2026 The Manager, The Manager, Listing Operation, Listing Division, BSE Limited, The National Stock Exchange of India Ltd., 25th Floor, Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G Block, Dalal Street, Fort, Mumbai- 400 001. Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Scrip Code: 517569 NSE Symbol: KEI Sub: Intimation of Credit Rating(s) pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir / Madam, This is to inform you that ICRA Limited has reaffirmed the Long-Term Bank Facilities and the Short-Term Bank Facilities/ Commercial Paper ratings of the Company as under: Instrument Type Rating / Outlook Rating Definition Long Term Bank ICRA AA+/(Stable) Instruments with this rating are considered to Facilities (Working (Double A Plus; have high degree of safety regarding timely Capital)/ Debt Outlook: Stable) servicing of financial obligations. Such Instruments. instruments carry very low credit risk. Short Term Bank ICRA A1+ (A One Instruments with this rating are considered to Facilities (Working Plus) have very strong degree of safety regarding timely Capital)/ Commercial payment of financial obligations. Such instruments Paper (CP) carry lowest credit risk. This is for your information and records. Yours truly, For KEI INDUSTRIES LIMITED (KISHORE KUNAL) Sr.VP (Corporate Finance) & Company Secretary ICRA Limited ICRA/KEI Industries Limited/23062026/1 Date: June 23, 2026 Mr. Rajeev Gupta Chief Financial Officer KEI Industries Limited D-90, OKHLA INDL AREA PHASE I NEW DELHI, Delhi, India - 110020 Dear Sir, Re: ICRA’s Credit Rating for below mentioned Instruments of KEI Industries Limited As per the Rating Agreement/Statement of Work executed with ICRA Limited, ICRA’s Rating Committee has taken the following rating actions for the mentioned instruments of your company. Rated Amount Instrument Rating Action1 (Rs. crore) Long Term/ Short Term - Fund-based/Non-fund 3680.00 [ICRA]AA+ (Stable)/ [ICRA]A1+; Reaffirmed based - Working Capital Facilities Long Term/ Short Term - Unallocated Limits 130.00 [ICRA]AA+ (Stable)/ [ICRA]A1+; Reaffirmed Total 3810.00 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 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. 1 Complete definitions of the ratings assigned are available at www.icra.in. BuSiledinnsgi tNivoi.t y8 ,L 2andb Fello :o Cr, oTnowfidere An tial 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 With kind regards, Yours sincerely, For ICRA Limited Prashant Vasisht Senior Vice President prashant.vasisht@icraindia.com Sensitivity Label : Confidential Annexure Details of Bank Limits Rated by Amount (Rs. crore) Rating Rating Assigned On ICRA (Rated on Long-Term/Short Term Scale) Fund-based/Non- fund based - Others Bank of Baroda 555.00 State Bank of India 445.00 Punjab National Bank 377.00 Union Bank of India 326.00 Axis Bank 385.00 ICICI Bank 317.00 Indusind Bank 207.00 IDFC First Bank 80.00 RBL Bank Ltd 31.00 (Stable)/ June 19, 2026 HDFC Bank Limited 155.00 DCB Bank Limited 75.00 IDBI Bank Limited 124.00 Kotak Mahindra Bank 51.00 Bank of Bahrain & Kuwait 36.00 DBS Bank India Ltd 26.00 YES Bank 20.00 Proposed 470.00 Unallocated Limits 130.00 Total 3810.00 Sensitivity Label : Confidential ICRA Limited ICRA/KEI Industries Limited/23062026/1 Date: June 23, 2026 Mr. Rajeev Gupta Chief Financial Officer KEI Industries Limited D-90, OKHLA INDL AREA PHASE I NEW DELHI, Delhi, India - 110020 Dear Sir, Re: ICRA’s Credit Rating for below mentioned instruments of KEI Industries Limited As per the Rating Agreement/Statement of Work executed with ICRA Limited, ICRA’s Rating Committee has taken the below rating actions for the mentioned instruments of your company. Rated Amount Instrument Rating Action1 (Rs. crore) Commercial Paper 40.00 [ICRA]A1+; Reaffirmed Total 40.00 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. Additionally, we wish to highligh [Showing first 8,000 characters — download PDF for full document]