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Further ICRA Limited has re-affirmed the existing credit rating for the already issued and listed Non-Convertible Debentures of ~7,200 Crore (Rupees Seven Thousand Two Hundred Crore Only).

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Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations.

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b) Commercial Paper Programme: ICRA Limited has re-affirmed its "[lCRA)A1+" (Reaffirmed)" [pronounced "ICRA A one plus (Reaffirmed)") rating to the Company's Commercial Paper Programme of up to ~3, 500 Crore (Rupees Three Thousand Five Hundred Crore)) Instruments with this rating are considered to have very strong degree of safety regarding timely payment of financial obligations.

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NCO H500Crore ~ICRA] AA+(Stable) (Assigned) ~2, 150 Crore [ICRA] AA+ (Stable) (Reaffirmed) ~2,OOO Crore [ICRA] AA+ (Stable) (Reaffirmed) ~2,800 Crore [ICRA] AA+ (Stable) (Reaffirmed) ~50 Crore [ICRA] AA+ (Stable) (Reaffirmed) ~200 Crore [ICRA] AA+ (Stable) (Reaffirmed) Commercial Paper ~3 , 500 Crore [ICRA] A1+ (Reaffirmed) Long-term - Fund-based - Cash ~90 Crore [ICRA] AA+(Stable) (Reaffirmed) Credit Long term - Fund based - Term ~246Crore [ICRA] AA+(Stable) (Reaffirmed) Loans ••• GODREJ • INDUSTRIES

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following rating actions for the mentioned instruments of your company.

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