Credit Rating

Casting the Future 12th August, 2026 The Manager The Manager The Department of Corporate Services The Listing Department BSE Limited National Stock Exchange of India Limited Jijibhoy Towers, Exchange Plaza, Dalai Street, Fort Bandra-Kurla Complex, Bandra East Mumbai — 400 001 MUMBAI 400 051 Scrip Code: 531147 Scrip Symbol: ALICON Dear Sir, Sub: Credit Rating. This is to inform you that CRISIL Ratings Limited has reaffirmed its rating for the banking facilities enjoyed by the Company. Accordingly, for long term facilities rating is CRISIL A Stable and for short term credit facilities rating CRISIL A1. We request you to take this information on record. Yours faithfully, For ALICON CASTALLOY LIMITED VIMAL GUPTA CHIEF FINANCIAL OFFICER Alicon Castalloy Ltd., Gat No. 1426, Shikrapur, T: +91 21 3767 7100 www.alicongroup.co.in Tal. Shirur, Dist: Pune – 412 208, Maharashtra – India F: +91 21 3767 7130 CIN : L99999PN1990PLC059487 CONFIDENTIAL RL/GDS5287/399523/BLR/0826/155807 August 12, 2026 Mr. Vimal Gupta Chief Finance Officer Alicon Castalloy Limited Gat No.1426, Shikrapur Tal.Shirur Pune - 412208 9860794352 Dear Mr. Vimal Gupta, Re: Review of Crisil Ratings on the bank facilities of Alicon Castalloy 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.300 Crore Long Term Rating Crisil A/Stable (Outlook revised from 'Positive'; 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 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 Should you require any clarification, please feel free to get in touch with us. With warm regards, Yours sincerely, Anil More Nivedita Shibu 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 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 Outstanding Rating in Crore) 1 Cash Credit IDFC FIRST Bank Limited 25 Crisil A/Stable 2 Cash Credit State Bank of India 70 Crisil A/Stable Kotak Mahindra Bank 3 Cash Credit 30 Crisil A/Stable Limited 4 Cash Credit Bank of Maharashtra 40 Crisil A/Stable 5 Cash Credit Bajaj Finance Limited 50 Crisil A/Stable Letter of credit & Bank 6 Bank of Maharashtra 1.8 Crisil A1 Guarantee Letter of credit & Bank 7 State Bank of India 8.9 Crisil A1 Guarantee 8 Term Loan IDFC FIRST Bank Limited 33.7 Crisil A/Stable 9 Term Loan HDFC Bank Limited 40.6 Crisil A/Stable Total 300 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 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 [Showing first 8,000 characters — download PDF for full document]