CREDIT RATINGS

(i) Bank Facilities

CARE has reaffirmed the Ratings to the bank facilities of the Company as follows:

Facilities Ratings Remarks
Long Term Bank Facilities CARE AAA(Triple A) Reaffirmed
Short Term Bank Facilities CARE A1+(A One Plus) Reaffirmed
Commercial Paper CARE A1+(A One Plus) Reaffirmed

(ii) Corporate Governance Rating

CareEdge Advisory Research and Training(CART)has assigned the following grading to Havells India Limited:

Type of Grading Grading
Corporate Governance CareEdge CG 2+

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