GODREJ INDUSTRIES LTD. — 2023-01-03
Ratings C01"'l"'FIDENTIAL CRISIL An S&P Global Company RIJGODSOAPi307992/CP/O123/50026 January 03, 2023 Mr. Cl('ment Pinto ChiefFillanciai Officer Godl't'j Industries Limit('d Godrej One, Pirojshallagar, Eastem Express Highway, Vikhroli Mumbai City - 400079 9820439 183 Dear Mr. Clemenl Pinto, Rt': Rt'view of CRISH. Rating on th(' Rs. 2500 Crol'(, (Euh.:mc('d f!'OID Rs.2000 Cron') C OIDIDt'rdai Paper of Godl'('j Industries Limited All ra tings assigned by CRISIL Ratings are kept tmder continuous surveillance and review. CRISIL Ratings has. after due consideration, reaffllmed its CRISIL AI + (prouOllllced as CRISIL A ODe plus rating) rating on the captioned debt instnmlenl. Instnlluents with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instm ments carry lowest credit risk. For the purpose of issuance of captioned commercial paper p rogramme, this letter is valid for 30 calendar days from the date of the letter. hi the event of your company not placing the above progralmne within tins period, or in the event of any change in the sizeistmcture of your proposed issue, the ratin.g shall have to be reviewed and a letter of revalidation shall have to be issued to you. Once the instnunent is issued, the above rating is valid (llluess revised) throughout the life of the captioned Commercial Paper Programme with a maximum manlIity of one year. As per our Rating Agreement, CRISIL Ratings would disseminate the rating through its publications and other media. and keep the rating tmder smveillance for the life of the instnllllent. CRISIL Ratings reselv es the right to withdraw or revise the ratings assigned to the captioned instrument at any tlltlle. on the basis of new infollllation, or tmavailability of illfonnation or other circulllstances, which CRISIL Ratings believes, may have an inlpact on the rating. Please visit www.crisiiratillgs.comand search with the name of the raled entity to access the latest rating/so Should you require any clarification, please fee l free to get in touch with us. With wallll regards, Yours sincerely, ~ Ankil Kedia Nivedita Shibu Associate Director - CRISIL Ratings Associate Director - CRISIL Ratings .'!.. . /" Disclaimer: A rating by CRISIL Ratings re"ec:ts CRISIL Ratings' current opinion on the likelihood of tirrely payment of the obligations under the rated instrument, and does not consIitute an audit of the mted entity by CRJSIL Ratings. Our ratings are based on infrxmatioo provided by the issuer Of obtained by CRISIL Ril/ings from sources it considers reliable. CRISIL Ratings does not guamnlee the COO"fJIeteness Of acctJIllcy of the information on which the mting is based. A rating by CRISIL Ratings is not a recorrmendation to buy / sell Of hold the rated instrument; it does not comment on the markel pfice Of suilability for a parliaJIar investor. CRISJL Ratings has a practice of keeping aD its ratings under surveillance and ratings are revised as and IWIen circlJmstances so warr.JnI. CRISJL Ratings is not responsible for any etrOfS and especially sIaIes that if has no financial liability whatsoever 10 the subscribers / users /1Iansmit/efS / distributors of its ratings. CRISIL Ratings' criteria are available without charge to the public on the web site, www.crisilrnmgs.com. CRISIL Ratings or its associates may have oIhef oommerciallransactions with the corrpanyknti/y. For the latest mting information on any instrumenl of any corrpany rated by CRISIL Ratings, please visit www cIDiliatingscom Of contact Customer" Service He/pdesk at Of aI1800-2fl7-1301 CRISIL Ratings Umited (.-4 subsidiary of Cli'ISIL LimiuJ) ~ Idmtity Numtx.-: U67100MH2019PLC326241 R.p,tnfll OfIiu : CRlSll.~, Cmu:.! A\"..,,,,,, Hir.waudani Business !':uk. Pow:ai, Mumbai- 4OO 0 76.~: +91 22 3342 3000 I Fax: +91 22 3342 3001 www.crisilr.otings.com