Credit Rating- Revision

ROBUST HOTELS LIMITED CIN: L55101TN2007PLC062085 Registered Office: No. 365, Anna Salai, Teynampet, Chennai – 600 018. ssss 044 6100 1256 info@robust h o t e l s . i n www.robusthotels.in Date: 17.08.2026 BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Mumbai- 400001 Bandra Kurla Complex, Bandra (E), Mumbai-400 051 Type of Security: Equity shares Type of Security: Equity shares Scrip Code : 543901 NSE Symbol : RHL Dear Sir, Subject: Intimation of credit rating under Regulation 30 of SEBI (LODR) Regulations, 2015 Dear Sir/Madam, Pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, please note that CRISIL Ratings (“CRISIL”) has reviewed the rating on bank facilities of the Company. In this regard, please find below the ratings for the bank loan facilities of the Company: Total Bank Loan Facilities Rated Rs.170 Crore Long Term Rating Crisil BBB+/Stable (Upgraded from 'Crisil BBB/Stable') Short Term Rating Crisil A2 (Upgraded from 'Crisil A3+') The letter received from CRISIL dated 17th August 2026 is enclosed herewith. Kindly take the above on record. For Robust Hotels Limited Yasotha Benazir N Company Secretary & Compliance officer CHENNAI 8/17/26, 6:14 PM Rating Rationale Crisil Ratings RatiRnagt ionale August 17, 2026 I Mumbai RobuHsott eLlism ited Ratiunpggsr atdo'e Cdr BiBsBiI+Sl t aIbC lreiA s2'i l RatiAncgt ion - - - RegulOaft or TotBaaln Lko aFna cilRiattieeds Rs.1C7r0o re Instrument CriBsBiBl+ /St(aUbplger afdreo'dmC risil LonTge rRma ting RBI BBB/Stable') IS hoTretr Rma tin .g . . . C ris ii A2 (Upgraded from 'Cris ii A3+' . . ) RBI NotNeo:n oeft hDei rectoonCrs n sR1a/t iLntgms1 tBeoda'ardsr m ee mbeofrs ra ticnogm miatnttdeh eud son opta rt1mc 1dp1astceou ras sss1iognn omfae nnryta t.i ngs ThBeo aorfDd i recatlosros n doodtei ss caunsrysa tiantig tmsse etings. 1c ro=r 1e0m illion RefteAorn nexfuoDrree t aoifIl nss tru& mBeannFtkas c ilities Detairlaetdi onale Crisil Ratings has upgraded its ratings on the bank facilities of Robust Hotels Limited (RHL) to 'CrBiBsBi+l/ StabAl2e'/ Crisil from 'Crisil BBB/Stable/Crisil A3+'. The upgrade reflects the improvement in the company's business risk profile which is expected to sustain in fiscal 2027, supported by increasing average room rate (ARR) and operating margin of its Hyatt Regency, Chennai, property. Over the three years through fiscal 2026, revenue grew at a compound annual growth rate (CAGR) of 12% to around Rs 148 crore. The hotel's established presence in the luxury hospitality sector and three-decade-long experience of the promoters in managing the Hyatt regency brand, aided by its central location in Chennai, continues to support healthy realisation and stable occupancy. The strengthened business risk profile has resulted in an improved financial risk profile as indicated by low gearing of less than 0.5 time as on March 31, 2026, which is expected at a similar levels in the near term. Liquidity is comfortable, supported by healthy cash accrual, which will be sufficient to meet debt obligation and renovation capital expenditure (capex) in the future, subject to necessary approvals. The company had unencumbered liquid surplus of more than Rs 20 crore as on March 31, 2026. The ratings reflect the extensive experience of the promoters in the hospitality industry, the established brand of the company and its healthy financial risk profile. These strengths are partially offset by sizeable loan to group company, Novak Hotels Private Ltd (NHPL), as well as exposure to geographic concentration risk. Analyjai1cmarlo ach Crisil Ratings has considered the standalone business and financial risk profiles of RHL. Keyr atidnrgi v•eS rtsr engths Extenesxipveer ioeftn hcpeer omotaenrdes s tablbirsahneThdde: pr omoters have more than three and half decades of experience in managing hotel operations association with Hyatt, being the brand and operator, which brings along its existing clientele (both domestic and international). Increase in foreign and non-residential Indian clients is likely to augur well for ARR, led by the differential tariff system and the large network and global marketing strategies of Hyatt. The brand denotes luxury and high quality of critical differentiating factors in the premium hotel segment. Healftihnya nrciispakrl o fCiaplitael s:tr ucture was strong, as indicated by gearing of less than 0.5 time as on March 31, 2026. Despite capex plans over the medium term, the capital structure is expected to remain healthy. Debt protection metrics were comfortable, as reflected in interest coverage ratio of over 4 times in fiscal 2026, owing to improved operating performance. The interest coverage ratio is expected around 3 times over the medium term. Keyr atidnrgi v-eWresa knesses Suscepttiobr ielvietncyuo en centirnat thireoe nv enpureo fainldce y clicThael coimtpayny: d erives revenue from its hotel in Chennai. Dependence on a single asset exposes the company to adverse changes in demand and supply and events. The hospitality industry is susceptible to downturns in domestic and international economies. During economic downturns, revenue per available room for premium and mid-segment hotels is more acutely affected than economy hotels. https://www.crisilratings.com/mnt/winshare/Ratings/RatingList/RatingDocs/RobustHotelsLimited_August 17 _ 2026_RR_4 00703.html 1/, 8/17/26, 6:14 PM Rating Rationale Sizeable exposure to group companies: The company had extended loan of an estimated Rs 205 crore (including interest) as on March 31, 2026, to group company, NHPL. A significant portion of the loan will be repaid once debt is raised by NHPL. Any additional loan to NHPL or delay in debt raise impacting the credit risk profile of RHL will be monitorable. LiguiditY. Adequate Bank limit utilisation of Rs 5 crore overdraft limit was low at 16% on average for the 12 months through June 2026. Cash accrual, expected at Rs 29-32 crore per annum, will adequately cover yearly term debt obligation of Rs 9-11 crore over the medium term. The company has unencumbered cash, comprising mutual funds, shares and cash of Rs 20 crore, which will support the liquidity. Outlook Stable Crisil Ratings believes RHL will continue to benefit from its established market position and the financial flexibility of the promoters. Rating sensitivitY. factors Upward factors • Steady growth in revenue and stable operating margin over 35% leading to higher cash accrual • Reduction in debt exposure to NHL • Sustenance of healthy financial risk profile and liquidity Downward factors • Decline in revenue by more than 30% or fall in profitability leading to lower cash accrual • Large debt-funded capex or any major outflow of funds to group companies weakening the financial risk profile and liquidity About the comRanY. Incorporated in 2007 by Radhe Shyam Saraf and his family members, RHL operates a five-star hotel property under the Hyatt Regency brand in Chennai. The hotel has 325 rooms, including 28 suites, a swimming pool, a fitness centre, a business centre, a banquet hall, a salon and restaurants. RHL was a wholly owned subsidiary of Asian Hotels (East) Ltd; the company has demerged and is an independent public company with listing of its shares both in BSE & NSE. Kev financial indicators As on I for the period ended March 31 Units 2025 2024 Ope-r-at-ing income Rs crore 136.33 122.61 Reported profit after tax (PAT) Rs crore 16.46 4.74 PAT margin % 12.07 3.86 Adjusted debt/ adjusted networth Times 0.28 0.30 Interest coverage Times 2.64 2.32 AnY. other information: Not applicable Note on complexity levels of the rated instrument: Crisil Ratings· complexity levels are assigned to various types of financial instruments and are included (where applicable) in the 'Annexure - Details of Instrument' in this Rating Rationale. Crisil Ratings will disclose complexity level for all securities -including those that are yet [Showing first 8,000 characters — download PDF for full document]