CONFIDENTIAL

RL/LUMIL/359184/BLR/1224/104784
December 13, 2024

Mr. Ajay Kumar Luharuka

Chief Financial Officer
Lumino Industries Limited
12th Floor unit-4,
Acropolis, 1858/1,
Rajdanga main road, kasba,
Kolkata - 700107
9830031290

Dear Mr. Ajay Kumar Luharuka,

Re: CRISIL Ratings on the bank facilities of Lumino Industries 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 as on date.

Total Bank Loan Facilities Rated Rs.1200 Crore

Long Term Rating CRISIL A/Stable
Short Term Rating CRISIL A1
(Bank-wise details as per Annexure 1)

CRISIL Ratings also disseminates the rating on the bank facilities through its website and updates the rating lists on
CRISIL Ratings’ website on a real time basis. Additionally, the rating lists in its publications such as Rating Scan and BLR
Connect are also updated to reflect the latest ratings outstanding on the bank loan facilities. CRISIL Ratings reserves the
right to withdraw, or revise the ratings/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

This letter will remain valid till March 31, 2025. After this date, please insist for a new rating letter (dated later than March
31, 2025).

Should you require any clarification, please feel free to get in touch with us.

With warm regards,

Yours sincerely,

Argha Chanda Nivedita Shibu

Director - CRISIL Ratings Director - CRISIL Ratings

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
[email protected] or at 1800-267-1301

CRISIL Ratings Limited

A subsidiary of CRISIL Limited, an S&P Global Company
Corporate Identity Number: U67100MH2019PLC326247
____________________________________________________________________________________
Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001
www.crisilratings.com
 Annexure 1 - Bank-wise details of various facility classes (outstanding facilities)

Amount (Rs.
S.No. Bank Facility Bank Outstanding Rating
in Crore)
1 Fund-Based Facilities Punjab National Bank 28.75 CRISIL A/Stable
2 Fund-Based Facilities Union Bank of India 25 CRISIL A/Stable
3 Fund-Based Facilities RBL Bank Limited 13.5 CRISIL A/Stable
4 Fund-Based Facilities Indian Bank 28.75 CRISIL A/Stable
5 Fund-Based Facilities State Bank of India 65 CRISIL A/Stable
6 Fund-Based Facilities HDFC Bank Limited 25 CRISIL A/Stable
7 Fund-Based Facilities YES Bank Limited 20 CRISIL A/Stable
8 Fund-Based Facilities IDFC FIRST Bank Limited 5 CRISIL A/Stable
9 Fund-Based Facilities Punjab and Sind Bank 1 CRISIL A/Stable
10 Fund-Based Facilities Bank of Baroda 18 CRISIL A/Stable
11 Fund-Based Facilities Canara Bank 45 CRISIL A/Stable
12 Non-Fund Based Limit YES Bank Limited 54 CRISIL A1
13 Non-Fund Based Limit Canara Bank 210 CRISIL A1
14 Non-Fund Based Limit IDFC FIRST Bank Limited 28 CRISIL A1
15 Non-Fund Based Limit HDFC Bank Limited 50 CRISIL A1
16 Non-Fund Based Limit Union Bank of India 125 CRISIL A1
17 Non-Fund Based Limit RBL Bank Limited 35 CRISIL A1
18 Non-Fund Based Limit Punjab National Bank 46.25 CRISIL A1
19 Non-Fund Based Limit State Bank of India 130 CRISIL A1
20 Non-Fund Based Limit Indian Bank 46.25 CRISIL A1
21 Non-Fund Based Limit Exim Bank 50 CRISIL A1
22 Non-Fund Based Limit Punjab and Sind Bank 18.5 CRISIL A1
23 Non-Fund Based Limit Bank of Baroda 62 CRISIL A1
Proposed Fund-Based Bank
24 -- 70 CRISIL A/Stable
Limits
Total 1200

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
[email protected] or at 1800-267-1301

CRISIL Ratings Limited

A subsidiary of CRISIL Limited, an S&P Global Company
Corporate Identity Number: U67100MH2019PLC326247
____________________________________________________________________________________
Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: +91 22 3342 3000 | Fax: +91 22 3342 3001
www.crisilratings.com