Credit Rating- Revision

August 17, 2026 Department of Corporate Services Listing Department BSE Limited, National Stock Exchange of India Phiroze Jeejeebhoy Towers, Dalal Ltd., Exchange Plaza, Plot no. C/1, G Street, Mumbai – 400001 Block, Bandra-Kurla Complex Bandra (E), Mumbai – 400051 BSE Scrip Code : 500460 NSE Scrip Name : MUKANDLTD ISIN CODE: INE304A01026 Dear Sirs, Sub: Intimation of revision in Credit Rating(s). Ref: Regulation 30(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Pursuant to Regulation 30(6) read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that CRISIL Ratings vide its letters dated August 17, 2026, has intimated about the revision of ratings to bank facility and debt instrument of the Company as stated below: Details of Bank Facility / Debt Amount Ratings Instrument Amount (Rs. In Crore) Bank Guarantee 184.90 CRISIL A2 Cash Credit 0.1 CRISIL BBB+/Stable Working Capital Demand Loan 1400.00 CRISIL BBB+/Stable Fixed Deposits 75.00 Crisil BBB+/Stable The copies of Rating Letters are enclosed herewith. Kindly take the above on your record. Yours faithfully, For Mukand Limited Rajendra Sawant Company Secretary Encl : As above Regd. Office: Mukand Limited, Bajaj Bhavan, 3rd Floor, Jamnalal Bajaj Marg, 226 Nariman Point, Mumbai 400021, India, Tel: 91 22 6121 6666 Works: Thane-Belapur Road, Dighe, PO Kalwe, Thane, Maharashtra- 400605, India, Tel: +91 22 2172 7500 | www.mukand.com | Email : secretarial@mukand.com CIN : L99999MH1937PLC002726 Crisil CONFIDENTIAL Ratings RL/MUKANDY/396557/BLR/0826/156204 August 17, 2026 Mr. Dhanesh Goradia Chief Finance Officer Mukand Limited Bajaj Bhavan, Nariman Point, Mumbai City - 400021 9769357321 Dear Mr. Dhanesh Goradia, Re: Review of Crisil Ratings on the bank facilities of Mukand 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.1585 Crore Long Term Rating Crisil BBB+/Stable (Reaffirmed) Short Term Rating Crisil A2 (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 oft his 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:/Avww 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 Ma l 31,2027). IS| Ratings Should you require any clarification, please feel free to get in touch with us. “ ‘With warm regards, Yours sincerely, Disclaimer. A rafing by Crisil Ratings reflects Crisil Rafings current opinion on the likelihood of fimely 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 notr esponsible for any errors and especially States that it has no financial liability whatsoever to the subscribers/ users /transmitters / distributors ofi ts ratings. Crisil Ratings’criteria are available without charge o the public on the web site, v crisilsatings com. Crisil Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on_any_insirument_of any company rated by Crisil Ratings, please visit www.crisilratingscom or confact Customer Service Helpdesk at Crisilratingdesk@crisil.com o at 1800-267-3850 Crisil Ratings Limited Corporate Identity Number: U67100MH2019PLC326247 Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai 400 072, India. Phone: +91 226137 3000 | www.crisilratings.com acompany of S&P Global Crisil Ratings Shalaka Singh Nivedita Shibu 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 in Crore) Outstanding Rating 1 Bank Guarantee Citi Bank 184.9 Crisil A2 2 Cash Credit Citi Bank 0.1 Crisil BBB+/Stable 3 | [Vorking Capital Demand | ¢y oy 1400 Crisil BBB+/Stable Total 1585 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 oft he imstruments T Listed/Proposed to be listed bonds/debentures/preference share (all securities) SEBI 2 Unlisted/Proposed o be unlisted Bonds/Debentures/ Preference share (all securifies) MCA 3 Listed PTCs / Secunitisation Notes (originated by entities regulated by RBD* S. RBI 1 Listed PTCs / Secuitisation Notes (origiated by entities not regulated by RBI)* SEBI 5 Unlisted PTCs/ Secunitisation Notes (originated by entities regulated by RBD* 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 TLoan Facilities (Fund/Non-Fund Based) from Bank/NBF Cs/NHB/FIs RBI 9 External Commercial Borrowings and ofher similar borrowings RBI 10 Certificates of Deposit RBI 1la Fixed Deposits raisebdy NBFCs HFCs, FIs RBI 116 Fixed Deposits raisebdy Banks - 2 Fixed Deposits raisebdy corporates ofher than NBFCs, Banks, HFCs, FIs MCA 3 Tnter Corporate Deposits/Loans extended by Corporates MCA 4 Bomowing programme ~ - 15 Tssuer Ratings # - 16 Credit Ratings for Capital Protection Oriented Schemes (by Mutal Funds and ATFs) SEBI 7 Credit quality ratings (CQRs) for Mutual Fund Schemes and Schemes of ATFs SEBI 18 Listed Secunity Receipts S, RBI 9 Unliste [Showing first 8,000 characters — download PDF for full document]