Credit Rating

refex August 10, 2026 The BSE Ltd. The National Stock Exchange of India Ltd. st th 1 Floor, New Trading Wing, Rotunda Exchange Plaza, 5 Floor, C – 1, Block G BScurilidpi nCgo d Peh:i r5o3z2e8 Je8e4j eebhoy Towers, BSyamndbroal –: RKEuFrlEaX C omplex, Bandra (E) Dalal Street, Fort Mumbai – 400001 Mumbai – 400051 DSuebarje Scitr:( sI)n/t Mimadaatimon, of Credit Rating under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 read with the SEBI Master Circular bearing reference no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 ("SEBI Listing Regulations") Acuite Pursuant to Regulation 30 read with Schedule III of SEBI Listing Regulations, we would like to inform that Acuité Ratings & Research Limited (“ ”), a Credit Rating Agency registered with SEBI, vide its letter dated August 07, 2026 and received by the Company on August 10, 2026 has upgraded/assigned the long term and shPorrotd-tuercmt rating as under: Quantum Long Term Rating Short Term Rating (Rs. Cr) Bank Loan Ratings 206.00 ACUITE A | Stable | - Assigned Bank Loan Ratings 112.05 ACUITE A| Stable | - Upgraded BTaontakl LOouatns Rtaantidnignsg Quantum (Rs. Cr.) 6604..0000 - ACUITE A1 | Assigned Bank Loan Ratings 337.95 - ACUITE A1 | Upgraded T he rating letter received from Acuité is attached as an Annexure to this letter. T he aforesaid information is also being placed on the website of the Company at https://refex.co.in/investors/credit-ratings Kindly take the same on record. Thanking you. Refex Industries Limited Yours faithfully, For & on behalf of Ankit Poddar Company Secretary & Compliance Officer ACS-25443 Refex Industries Limited A Refex Group Company 49iiiiifrMIIB+H;1+Wl+i· Registered Office: 2nd Floor, No.313, Refex Towers, Sterling Road, Factory: No.l/171, Old Mahabalipuram Road, Valluvar Kottam High Road, Nungambakkam, Chennai, Tamil Nadu 600 034 Thiruporur-603110, Chengalpattu District, Tamil Nadu P: 044-4340 5900/ 950 I E: info@lrefex.co.in I W: www.refex.co.in P: 044 2744 52951 E: info@lrefex.co.in I W: www.refex.co.in Acuite.- RATINGS & RESEARCH Rating Letter - Intimation of Rating Action Scan this QR Code to verify authenticity of this Letter Issued on : August 07, 2026 rating Letter Expires on : November 21, 2026 Annual Fee valid till : November 21, 2026 REFEX INDUSTRIES LIMITED 2ND FLOOR, NO.313, REFEX TOWERS, STERLING ROAD, VALLUVAR KOTTAM HIGH ROAD, NUNGAMBAKKAM Chennai 600034 TAMIL NADU Kind Attn.: Mr. Mr. Shubhendu Parhi,Dgm corporate (Tel. No.8655357434) Sir / Madam, Sub.: Rating(s) Assigned and Upgraded - Bank Loans of REFEX INDUSTRIES LIMITED Please note that the current rating(s) and outlook, instrument details, and latest rating action for the aforementioned instrument are as under: Product Quantum (Rs. Cr) Long Term Rating Short Term Rating Regulated By (Other FSR) Bank Loan Ratings 206.00 ACUITE A | - RBI Stable | Assigned Bank Loan Ratings 112.05 ACUITE A | - RBI Stable | Upgraded Bank Loan Ratings 4.00 - ACUITE A1 | RBI Assigned Bank Loan Ratings 337.95 - ACUITE A1 | RBI Upgraded Total Outstanding 660.00 - - - Quantum (Rs. Cr) (cid:49)(cid:82)(cid:87)(cid:72)(cid:29)(cid:172)(cid:3)(cid:41)(cid:82)(cid:85)(cid:3)(cid:68)(cid:70)(cid:87)(cid:76)(cid:89)(cid:76)(cid:87)(cid:76)(cid:72)(cid:86)(cid:3)(cid:82)(cid:85)(cid:3)(cid:85)(cid:68)(cid:87)(cid:76)(cid:81)(cid:74)(cid:86)(cid:3)(cid:82)(cid:73)(cid:3)(cid:76)(cid:81)(cid:86)(cid:87)(cid:85)(cid:88)(cid:80)(cid:72)(cid:81)(cid:87)(cid:86)(cid:3)(cid:73)(cid:68)(cid:79)(cid:79)(cid:76)(cid:81)(cid:74)(cid:3)(cid:88)(cid:81)(cid:71)(cid:72)(cid:85)(cid:3)(cid:87)(cid:75)(cid:72)(cid:3)(cid:83)(cid:88)(cid:85)(cid:89)(cid:76)(cid:72)(cid:90)(cid:3)(cid:82)(cid:73)(cid:3)(cid:41)(cid:76)(cid:81)(cid:68)(cid:81)(cid:70)(cid:76)(cid:68)(cid:79)(cid:3)(cid:54)(cid:72)(cid:70)(cid:87)(cid:82)(cid:85)(cid:3)(cid:53)(cid:72)(cid:74)(cid:88)(cid:79)(cid:68)(cid:87)(cid:82)(cid:85)(cid:86)(cid:3)(cid:82)(cid:87)(cid:75)(cid:72)(cid:85)(cid:3)(cid:87)(cid:75)(cid:68)(cid:81)(cid:3)(cid:54)(cid:40)(cid:37)(cid:44)(cid:15)(cid:3)(cid:87)(cid:75)(cid:72)(cid:3) grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available. (cid:36)(cid:70)(cid:88)(cid:76)(cid:87)(cid:112) reserves the right to revise the rating(s) , along with the outlook, at any time, on the basis of new information, or other circumstances which (cid:36)(cid:70)(cid:88)(cid:76)(cid:87)(cid:112)(cid:3)believes may have an impact on the rating (s). Such revisions, if any, would be appropriately disseminated by (cid:36)(cid:70)(cid:88)(cid:76)(cid:87)(cid:112)(cid:3)as required under prevailing SEBI guidelines and (cid:36)(cid:70)(cid:88)(cid:76)(cid:87)(cid:112)(cid:183)s policies. This letter will expire on November 21, 2026 or on the day when (cid:36)(cid:70)(cid:88)(cid:76)(cid:87)(cid:112)(cid:3)takes the next rating action, whichever is earlier. It may be noted that the rating(s) is subject to change anytime even before the expiry date of this letter. Hence lenders / investors are advised to visit https://www.acuite.in/ OR scan the QR code given above to confirm the current outstanding rating(s). (cid:36)(cid:70)(cid:88)(cid:76)(cid:87)(cid:112) will re-issue this rating letter on November 22, 2026 subject to receipt of surveillance fee as applicable. If the rating(s) is reviewed before November 21, 2026, (cid:36)(cid:70)(cid:88)(cid:76)(cid:87)(cid:112)(cid:3)will issue a new rating letter. Please note that under extant SEBI regulations and as per the terms of the rating agreement, once a rating is accepted and outstanding, the issuer is required to promptly furnish the (cid:182)No Default Statement(cid:183)(cid:3)on the first working day of every month. (cid:36)(cid:70)(cid:88)(cid:76)(cid:87)(cid:112)(cid:3)(cid:53)(cid:68)(cid:87)(cid:76)(cid:81)(cid:74)(cid:86)(cid:3)(cid:9)(cid:3)(cid:53)(cid:72)(cid:86)(cid:72)(cid:68)(cid:85)(cid:70)(cid:75)(cid:3)(cid:47)(cid:76)(cid:80)(cid:76)(cid:87)(cid:72)(cid:71) SEBI Registered | RBI Accredited 708, Lodha Supremus, Lodha iThink Techno Campus, Kanjurmarg (East), Mumbai - 400042 | +919930708000 | www.acuite.in | CIN: U74999MH2005PLC155683 Acuite.- RATINGS & RESEARCH Sd/- Chief Rating Officer (cid:172) This is a system generated document. No signature is required. (cid:36)(cid:81)(cid:81)(cid:72)(cid:91)(cid:88)(cid:85)(cid:72)(cid:86)(cid:29)(cid:3)(cid:172)(cid:172)(cid:172)(cid:172)(cid:172)(cid:172)(cid:172)(cid:172)(cid:172)(cid:3)(cid:3)(cid:3)(cid:36)(cid:17)(cid:3)(cid:39)(cid:72)(cid:87)(cid:68)(cid:76)(cid:79)(cid:86)(cid:3)(cid:82)(cid:73)(cid:3)(cid:87)(cid:75)(cid:72)(cid:3)(cid:53)(cid:68)(cid:87)(cid:72)(cid:71)(cid:3)(cid:44)(cid:81)(cid:86)(cid:87)(cid:85)(cid:88)(cid:80)(cid:72)(cid:81)(cid:87) Annexure A. Details of the rated instrument Lender's Name Facilities Listing status Regulated Scale Amt. Rating Assigned By (Rs. Cr) (Outlook) | Rating Action Union Bank of Cash Credit Unlisted RBI Long- 30.00 ACUITE A | India term Stable | Upgraded ( from ACUITE A- ) Union Bank of Letter of Unlisted RBI Short- 170.00 ACUITE A1 | India Credit term Upgraded ( from ACUITE A2+ ) YES BANK LIMITED Cash Credit Unlisted RBI Long- 50.00 ACUITE A | term Stable | Upgraded ( from ACUITE A- ) INDIAN Cash Credit Unlisted RBI Long- 175.00 ACUITE A | OVERSEAS BANK term Stable | Assigned INDIAN Bank Unlisted RBI Short- 150.00 ACUITE A1 | OVERSEAS BANK Guarantee term Upgraded ( from (BLR) ACUITE A2+ ) INDIAN Term Loan Unlisted RBI Long- 26.01 ACUITE A | OVERSEAS BANK term Stable | Upgraded ( from ACUITE A- ) INDIAN Term Loan Unlisted RBI Long- 6.04 ACUITE A | OVERSEAS BANK term Stable | Upgraded ( from ACUITE A- ) Jio Credit Limited Working Unlisted RBI Long- 25.00 ACUITE A | Capital term Stable | Assigned Demand Loan (WCDL) Union Bank of Term Loan Unlisted RBI Long- 6.00 ACUITE A | India term Stable | Assigned Not Applicable Proposed Unlisted RBI Short- 17.95 ACUITE A1 | Letter of term Upgraded ( from Cre [Showing first 8,000 characters — download PDF for full document]