Pursuant to Regulation 30 read with schedule III and other applicable provisions of SEBI (LODR) Regulations, 2015, this is to inform that ICRA Limited on August 25, 2025 has downgraded the long term rating from [ICRA] A Stable (pronounced ICRA A Stable) to [ICRA] A- Stable (pronounced ICRA A minus Stable) and short-term rating from [ICRA] A1 (pronounced ICRA A One) to [ICRA] A2+ (pronounced ICRA A2 plus) for the rated amount of Rs. 955.64 crores post results of the quarter ended June 30, 2025 and announcement of new board plant at Dahej.