Credit Rating

Shilpa Medicare Limited Corporate & Admin Office: “Shilpa House”, # 12-6-214/A-1, Hyderabad Road, Raichur – 584 135, Karnataka, India Tel: +91-8532-238704, Fax: +91-8532-238876 Email: info@vbshilpa.com, Web: www.vbshilpa.com CIN: L85110KA1987PLC008739 Date: 07 July 2026 Corporate Relationship Department, National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, 5th Floor, Phiroze Jeejeebhoy Towers, Plot No.C/1, G Block Dalal Street, Fort, Bandra Kurla Complex, Bandra (E) Mumbai-400 001 Mumbai-400 051 Stock Code: NSE: SHILPAMED/BSE-530549 Dear Sir/Madam, Sub: Intimation of Revision in Credit Rating by INDIA RATINGS AND RESEARCH PVT. LTD (Fitch Group) Pursuant to Regulations 30 with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘the Regulation’), please find below the details of the revision in credit rating issued by India Ratings and Research Pvt. Ltd (Fitch Group) vide its press release/letter communication dated 07 July 2026 for Shilpa Medicare Ltd and its material subsidiary Shilpa Pharma Lifesciences Ltd: The instrument-wise ratings are given below: Shilpa Medicare Limited Instrument Type Size of Issue Rating assigned along Rating Historical (million) with Outlook/ Watch Action Rating/Outlook as on 1 July 2025 Bank loan facilities INR1,100 IND AA-/Stable/IND A1+ Upgraded IND A+/Positive/IND A1 Shilpa Pharma Lifesciences Limited Instrument Type Maturity Date Size of Issue Rating assigned along Rating (million) with Outlook/ Watch Action Bank loan facilities - INR3,000 IND AA-/Stable/IND A1+ Upgraded Bank loan facilities - INR750 IND AA-/Stable/IND A1+ Assigned Non-convertible - INR750 WD Withdrawn debentures# The said rating is available on the website: Shilpa Medicare Ltd: https://www.indiaratings.co.in/pressrelease/gpp2e0hs7bzxpsi8by500gea/shilpamedicare Shilpa Pharma Lifesciences Ltd: https://www.indiaratings.co.in/pressrelease/2hjspw5z4fe8l026ihp0rqtt/shilpapharmalifesciences The Letter issued by INDIA RATINGS AND RESEARCH PVT. LTD (Fitch Group) is enclosed herewith. This is for your information and records. For SHILPA MEDICARE LIMITED Ritu Tiwary Company Secretary & Compliance Officer Mr. Alpesh Dalal Chief Financial Officer Shilpa Medicare Limited #12-6-214/A1, Hyderabad Road, Raichur – 584 135, Karnataka, India. July 07, 2026 Dear Sir/Madam, Re: Rating Letter for BLR of Shilpa Medicare Limited India Ratings and Research (Ind-Ra) has upgraded Shilpa Medicare Limited’s (SML) bank facilities to ‘IND AA-’ from ‘IND A+’ with a Stable Outlook, as follows: Historical Instrument Size of Issue Rating Assigned with Rating Rating/Outlook as Type (million) Outlook/Watch Action on 1 July 2025 Bank loan INR1,100 IND AA-/Stable/IND A1+ UpgradedIND A+/Positive/IND facilities A1 In issuing and maintaining its ratings, India Ratings relies on factual information it receives from issuers and underwriters and from other sources India Ratings believes to be credible. 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