Archean Chemical Industries Limited, through its step-down subsidiary SiCSem Private Limited, has executed a Fiscal Support Agreement (FSA) with the India Semiconductor Mission (ISM) on May 11, 2026. The agreement was entered into pursuant to the Semicon India Programme of the Government of India, and marks a key procedural milestone in the implementation of eligible fiscal support as notified under the scheme guidelines.

Fiscal Support Agreement: Key Details

The FSA formalises the fiscal incentive framework under which the Government of India has committed capital expenditure (CapEx) support to SiCSem for the establishment of India's first approved Silicon Carbide (SiC) based Compound Semiconductor Fab and ATMP (Assembly, Testing, Marking and Packaging) facility. The agreement was executed with the participation of Archean Chemical Industries Limited and its wholly owned subsidiary, Neun Infra Private Limited.

The following table summarises the key parameters of the proposed facility:

Facility Scope and Target Sectors

The compound semiconductor manufacturing facility is proposed to be established at Info Valley, Bhubaneswar, Odisha. The project will integrate end-to-end Wafer Fabrication and Packaging capabilities, positioning it as a comprehensive domestic manufacturing hub for advanced semiconductor components. The facility is designed to cater to a range of critical and emerging sectors, including:

• Electric Vehicles (EVs)
• Renewable Energy
• Smart Grids
• 5G
• Industrial Automation
• Data Centres

Background and Prior Milestones

The execution of the FSA follows a series of earlier developments in the project's progression. SiCSem received approval from the ISM on August 12, 2025, marking the initial regulatory clearance for the project. Subsequently, Archean Chemical Industries extended inter-corporate funding to its subsidiary, Neun Infra Private Limited, to advance the procurement of long-lead machinery and equipment, pending the execution of the FSA. The signing of the FSA on May 11, 2026, represents the formalisation of the government's fiscal commitment to the project under the Semicon India Programme.

The company has stated that the above information will also be available on its website at www.archeanchemicals.com . The disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Archean Chemical Industries has filed a revised disclosure with the National Stock Exchange of India Limited and BSE Limited, formally stating that the company does not qualify as a Large Corporate as defined under the relevant SEBI circulars. The disclosure was made in reference to SEBI circular no. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021, and SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023.

Large Corporate Disclosure Details

The filing provides a structured overview of the company's borrowing position and credit standing as mandated under the SEBI framework. The key particulars submitted by the company are outlined in the table below:

Borrowing Position and Credit Rating

As of March 31, 2026, Archean Chemical Industries' total long-term loan from banks amounts to Rs. 77.43 cr. Of this, Rs. 59.85 cr is classified as payable beyond one year, while Rs. 17.58 cr is due within one year. The company's highest credit rating during the previous financial year was assigned by CRISIL Limited, which reaffirmed the rating at A-/Negative, with the outlook revised from 'Stable'.

Regulatory Context

The disclosure was submitted on May 11, 2026, in compliance with SEBI's framework governing Large Corporates and their borrowing obligations. Since the company does not meet the threshold to be classified as a Large Corporate, the field pertaining to the stock exchange for payment of fines in case of borrowing shortfall has been marked as NA. The filing was signed by Vijayaraghavan N E, Company Secretary & Compliance Officer (M.No. A41671), and R Natarajan, Chief Financial Officer.