We are enclosing herewith Credit Rating reports issued by CARE Ratings Limited. For more details kindly refer attached file.

GujarAaltk aliaensd C hemicalLsi mited (PromobtyeG do vto.fG ujarat) IReg dO.ff ic&e W ork:sP .OR.a no-l3i9 135D0i.sV ta.d od(aGruaj aIrNaDtI)A Phon:e+ 91-265-61F1a1x:0+ 0901 -265-6111012 Websi:tww ew.gacl.CcIoNNm O :L 24110GJ1973PLC002247 PromointgG reeTne chnology Ref:.S EC/ES/2026/ 30• Juyl ,� BSE Ltd. NationSatlo ckE xchangoef l ndlLat d. I 1sFtl ooNre,w T radiRnign g "ExchanPglea zaC"-,1 B,l oc'kG ' PhiroJzeee jeebhTooyw ers Bandra-KuCrolmap lex DalaSlt reet Sandr(aE ast) MUMBAI: 4 000 01 MUMBAI: 4000 51 Ref:.C ompanyC odeN o.: 5 30001 Ref:.C ompanyC odeN o.: G UJALKALI DearS ir/Madam, Sub.I:n timatoifoC nr ediRta tinbgy CARE RatingLsi mitefdo r- (iL)o ngT ermB ankF acilitoifRe ss. 3 72.6C3r or(eR educefdr om4 82.3C4r ore) (iiS)h orTte rmB ankF acilitoifRe ss. 339.C5r0o re (iiCio)m merciaPla peIrs suoef R s.10C0r ore PursuatnotR egulat3i0oo nf S EBI( LsitinOgb ligatiaonndDs i sclosRuerqeu iremenRtesg)u lati2o0n1s5,, we encloshee rewictohp ieosfl ettebrost hd ate2d9 tJhu ly2,0 26( receiovne2 d9 tJhu ly2,0 26i)s suebdy CARE RatingLsi mit(eCdA RE)K.i ndblyei nformtehda CtA RE hasr eviewaendd a ssigntehde r atinfgosr theB ankF aciliatnideC so mmerciPaalp ears u nder: (i) "CAREA A-;S tabl(eD"o ublAe- ;O utlooSkt:a blfeo)Lr o ngT ermB ankF aciliotfRi se.s3 72.6C3r ore (Reducefdr o4m8 2.3C4r ore[)D owngradferdo mC ARE AA; Stable]; (ii) "CAREA 1+"( AO neP lusf)o Srh ortT ermB ankF aciliotfRi se.s3 39.C5r0o r[eR eaffirmed]; (iii")C AREA 1+"( AO neP lusf)o Cro mmerciPaalp erI*s sufeo arn a mounatg gregattioRn sg. 10C0r ore fora maturintoyte xceedionnge y ea[rR eaffirmed]. *TheC ompanyh asn oti ssueCdo mmerciPaalp er(ass)o nd ate. We havea lreaidnyf ormCeAdR E RatinLgism itteods harteh er easonfsod ro wngraditnhger ationngL ong TermB ankF acilitOine rse.c eiopftt h es amew e wilslu bmirte quiriendf ormattoiS otno cEkx changiensd ue course. Thankiynogu , Yourfasi thfully, For JARAT KALIEASN D CHEMICALSL IMITED EnclA:s above E-mai.cl o sec@gacl.co.in DaheCjo mpl:eP x.OD.a he-3j9 213T0a.Vi a.g rDai,sB th.a ru(cGhu jaIrNaDtI)A Phon:e+ 91-2641-613256 No. CARE/ARO/RL/2026-27/3622 Shri Ram Gianani Additional General Manager Finance Gujarat Alkalies and Chemicals Limited P. O. Petrochemicals Vadodara Gujarat 391346 July 29, 2026 Confidential Dear Sir, Credit rating for bank facilities On the basis of recent developments including operational and financial performance of your Company for FY26 (Audited) and Q1FY27 (Unaudited), our Rating Committee has reviewed the following ratings: Amount Facilities Rating1 Rating Action (₹ crore) 372.63 Downgraded from CARE Long Term Bank Facilities CARE AA-; Stable (Reduced from 482.34) AA; Stable Short Term Bank Facilities 339.50 CARE A1+ Reaffirmed 2. Refer Annexure 1 for details of rated facilities. 3. The press release and rating report for the rating will be communicated to you separately. 4. CARE Ratings Ltd. reserves the right to undertake a surveillance/review of the rating from time to time, based on circumstances warranting such review, subject to at least one such review/surveillance every year. 1Complete definitions of the ratings assigned are available at www.careratings.com and in other CARE Ratings Ltd.’s publications. CARE Ratings Limited 32, Titanium, Prahladnagar Corporate Road, Corporate Office :4th Floor, Godrej Coliseum, Satellite, Ahmedabad - 380015 Somaiya Hospital Road, Off Eastern Express Phone: +91-79-4026 5656 Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 Page 1 of 4 5. CARE Ratings Ltd. reserves the right to revise/reaffirm/withdraw the rating assigned as also revise the outlook, as a result of periodic review/surveillance, based on any event or information which in the opinion of CARE Ratings Ltd. warrants such an action. In the event of failure on the part of the entity to furnish such information, material or clarifications as may be required by CARE Ratings Ltd. so as to enable it to carry out continuous monitoring of the rating of the bank facilities, CARE Ratings Ltd. shall carry out the review on the basis of best available information throughout the life time of such bank facilities. In such cases the credit rating symbol shall be accompanied by “ISSUER NOT COOPERATING”. CARE Ratings Ltd. shall also be entitled to publicize/disseminate all the afore-mentioned rating actions in any manner considered appropriate by it, without reference to you. 6. Our ratings 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. 7. Our ratings do not factor in any rating related trigger clauses as per the terms of the facility/instrument, which may involve acceleration of payments in case of rating downgrades. However, if any such clauses are introduced and if triggered, the ratings may see volatility and sharp downgrades. 8. Users of this rating may kindly refer our website www.careratings.com for latest update on the outstanding rating. 9. CARE Ratings Ltd. ratings are not recommendations to sanction, renew, disburse or recall the concerned bank facilities. If you need any clarification, you are welcome to approach us in this regard. Thanking you, Yours faithfully, Shruti Rachchh Komal Vinit Soni Lead Analyst Assistant Director shruti.r@careedge.in komal.israni@careedge.in Encl.: As above CARE Ratings Limited 32, Titanium, Prahladnagar Corporate Road, Corporate Office :4th Floor, Godrej Coliseum, Satellite, Ahmedabad - 380015 Somaiya Hospital Road, Off Eastern Express Phone: +91-79-4026 5656 Highway, Sion (E), Mumbai - 400 022 Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 Page 2 of 4 Disclaimer This disclaimer pertains to the ratings issued and content published by CARE Ratings Limited (“CareEdge Ratings”). Ratings are opinions on the likelihood of timely payment of the obligations under the rated instrument and are not recommendations to sanction, renew, disburse, or recall the concerned bank facilities or to buy, sell, or hold any security. Any opinions expressed herein are in good faith and are subject to change without notice. The rating reflects the opinions as on the date of the rating. A rating does not convey suitability or price for the investor. The rating agency does not conduct an audit on the rated entity or an independent verification of any information it receives and/or relies on for the rating exercise. CareEdge Ratings has based its ratings/outlook on the information obtained from reliable and credible sources. CareEdge Ratings does not, however, guarantee the accuracy, adequacy, or completeness of any information and is not responsible for any errors or omissions and the results obtained from the use of such information. The users of the rating should rely on their own judgment and may take professional advice while using the rating in any way. CareEdge Ratings shall not be liable for any losses that user may incur or any financial liability whatsoever to the user of the rating. The use or access of the rating does not create a client relationship between CareEdge Ratings and the user. CAREEDGE RATINGS DISCLAIMS WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR OTHER WARRANTIES OR CONDITIONS, TO THE EXTENT PERMITTED BY APPLICABLE LAWS, INCLUDING WARRANTIES OF MERCHANTABILITY, ACCURACY, COMPLETENESS, ERROR-FREE, NON-INFRINGEMENT, NON-INTERRUPTION, SATISFACTORY QUALITY, FITNESS FOR A PARTICULAR PURPOSE OR INTENDED USAGE. Most entities whose bank facilities/instruments are rated by CareEdge Ratings have paid a credit rating fee, based on the amount and type of bank facilities/instruments. CareEdge Ratings or its subsidiaries/associates may also be involved with other commercial transactions with the entity. CareEdge Ratings does not act as a fiduciary by providing the rating. The ratings are intended for use only within the jurisdiction of India. The ratings of CareEdge Ratings do not factor in any rating-r [Showing first 8,000 characters — download PDF for full document]