Astec LifeSciences Limited has announced the reaffirmation of its credit ratings by ICRA Limited across multiple debt facilities. The rating agency communicated its decisions through letters dated March 24, 2026, covering facilities totaling Rs.1,068 Crore. The company has informed both BSE Limited and National Stock Exchange of India Limited about these rating actions as per regulatory compliance requirements under SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Credit Rating Details

ICRA Limited has reaffirmed ratings across five different categories of debt instruments and facilities. The rating actions encompass both long-term and short-term facilities, maintaining the company's existing credit profile.

Rating Significance

The 'ICRA AA-' rating indicates high credit quality with adequate degree of safety regarding timely servicing of financial obligations. However, the negative outlook on long-term facilities suggests potential for downward rating movement in the medium term. The 'ICRA A1+' rating for short-term facilities indicates very strong degree of safety regarding timely payment of financial obligations.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulations 30 and 51 of SEBI Listing Regulations. The rating letters have been shared with stock exchanges, and the information will be made available on the company's website at www.godrejastec.com as per regulatory requirements.

Key Rating Conditions

ICRA Limited has specified several conditions accompanying the rating reaffirmation:

• Ratings are subject to surveillance within one year from the communication date
• Any changes in terms or size of rated instruments require rating review
• The company must inform ICRA about any defaults or delays in debt servicing
• Commercial Paper ratings require revalidation if instruments are not issued within three months

The rating agency reserves the right to review and revise ratings based on new information or changing circumstances that could impact the company's credit profile.

Astec LifeSciences Limited has completed the divestment of its entire equity stake in Clean Max Andes Private Limited, marking its exit from the solar power special purpose vehicle. The transaction was executed on 9th March, 2026, with completion expected by 10th March, 2026.

Transaction Details

The divestment involved the sale of the company's complete holding in Clean Max Andes Private Limited. The transaction details are as follows:

About Clean Max Andes Private Limited

Clean Max Andes Private Limited was established as a special purpose vehicle in collaboration with Clean Max Enviro Energy Solutions Limited. The company was incorporated specifically for the generation of solar power under the group captive model, operating in accordance with the Electricity Act, 2003 and the Electricity Rules, 2005.

Buyer Information and Transaction Nature

The buyer of the equity stake is Clean Max Enviro Energy Solutions Limited, which does not belong to Astec LifeSciences' promoter, promoter group, or group companies. The company has confirmed that this transaction does not constitute a related party transaction and falls outside any scheme of arrangement.

Regulatory Compliance

The divestment has been disclosed in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the requirements outlined in SEBI Circular Ref. No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024, relating to disinvestment disclosures.

The transaction represents Astec LifeSciences' strategic decision to exit its investment in the solar power generation venture, allowing the company to focus on its core business operations.