Dai-ichi Karkaria Limited has voluntarily withdrawn its credit ratings from CRISIL Ratings Limited for bank facilities worth Rs 25 crore. The company informed the stock exchanges on April 15, 2026, that it requested the withdrawal as the sanctioned credit limits are below Axis Bank Limited's requirement for maintaining an external credit rating.

Credit Rating Withdrawal Details

CRISIL Ratings Limited confirmed the withdrawal of credit ratings on April 14, 2026, following the company's request dated February 02, 2026. The withdrawal was processed after CRISIL received a 'No Objection Certificate' from Axis Bank Limited, in accordance with CRISIL's policy on credit rating withdrawal.

Bank Facility Breakdown

The withdrawn ratings covered two types of facilities provided by Axis Bank Limited:

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary & Compliance Officer Ankit Shah signed the intimation letter sent to BSE Limited on April 15, 2026.

CRISIL's Rating Surveillance

CRISIL Ratings maintains continuous surveillance and review of all ratings assigned by the agency. The rating agency confirmed that it had conducted due consideration before withdrawing the ratings for the bank loan facilities. The withdrawal follows CRISIL's established policy framework for credit rating withdrawals upon receipt of proper documentation from both the rated entity and the lending institution.

Dai-ichi karkaria Limited has submitted its quarterly compliance certificate to BSE Limited, confirming adherence to SEBI regulations for the quarter ended March 31, 2026. The filing demonstrates the company's commitment to maintaining regulatory compliance in securities handling and dematerialisation processes.

Regulatory Compliance Certificate

The certificate was issued under Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018. MUFG Intime India Private Limited, serving as the company's Registrar & Share Transfer Agent, issued the compliance certificate dated April 3, 2026.

Dematerialisation Compliance Confirmation

MUFG Intime India Private Limited confirmed that all securities received from depository participants for dematerialisation during Q4FY26 were properly processed within prescribed timelines. The registrar verified that securities comprised in the certificates have been listed on stock exchanges where the company's earlier issued securities are traded.

The compliance certificate specifically confirms that:

• Securities received for dematerialisation were confirmed or rejected to depositories as required
• Security certificates were mutilated and cancelled after due verification by depository participants
• Depository names were substituted in the register of members as registered owners within prescribed timelines

Regulatory Framework

The SEBI (Depositories and Participants) Regulations, 2018 mandate quarterly compliance certificates to ensure proper handling of dematerialised securities. This regulatory framework protects investor interests and maintains market integrity through standardised procedures for securities processing.

Ashok Shetty, Sr. Vice President-Corporate Registry at MUFG Intime India Private Limited, signed the compliance certificate on behalf of the registrar. The submission to BSE Limited, Central Depository Services (India) Limited, and National Securities Depository Limited ensures comprehensive regulatory compliance across all relevant depositories.