Banco Products (India) Limited has issued a detailed clarification to stock exchanges regarding the recent credit rating migration from CRISIL Ratings Limited to CARE Ratings Limited. The disclosure, made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, addresses concerns about CRISIL's rating action on the company's bank facilities.

Credit Rating Migration Details

CRISIL Ratings Limited has published a rating action migrating the company's cash credit facilities to "CRISIL BB+/Stable; Issuer Not Cooperating." The company has provided comprehensive clarification on this development to ensure transparency with stakeholders.

Appointment of New Rating Agency

Banco Products has appointed CARE Ratings Limited as the credit rating agency for its bank facilities. CARE Ratings has assigned a rating of "CARE AA, Stable / CARE A1+" which the company states is consistent with the prior rating issued by CRISIL Ratings Limited.

The company clarified that upon appointing CARE Ratings Limited, it did not continue the surveillance process with CRISIL Ratings Limited. The classification as "Issuer Not Cooperating" is described as procedural in nature, arising from non-participation in CRISIL's surveillance process rather than any operational or financial issues.

Debt Servicing Confirmation

Banco Products has categorically confirmed that there has been no default in repayment of principal or payment of interest on any of its debt facilities. The company emphasized that all debt servicing obligations continue to be met in a timely manner.

Key assurances provided by the company include:

• No delays or defaults in servicing debt obligations
• Continued timely meeting of all debt servicing requirements
• Maintenance of financial discipline and transparency
• Commitment to regulatory compliance

Corporate Governance Statement

The company submitted this clarification in the interest of transparency and good governance. Banco Products reaffirmed its commitment to maintaining high standards of financial discipline, transparency, and regulatory compliance. The disclosure was signed by Company Secretary Preeti Yadav and communicated to both BSE Limited and National Stock Exchange of India Limited on February 21st, 2026.

Banco Products (India) Limited has notified stock exchanges regarding a name change by its statutory auditors, effective February 1, 2026. The company received formal intimation about this administrative update on February 13, 2026.

Auditor Name Change Details

The statutory auditing firm has undergone a name modification from its previous identity to a new corporate designation. This change represents an administrative update that does not affect the firm's regulatory standing or professional credentials.

Regulatory Continuity

The auditing firm has confirmed that all essential regulatory identifiers remain unchanged despite the name modification. This ensures continuity in the auditing relationship and maintains compliance with statutory requirements.

Key aspects that remain unchanged include:

• ICAI Firm Registration Number
• PAN (Permanent Account Number)
• GST (Goods and Services Tax) Number

Stock Exchange Notification

Banco Products (India) Limited has formally communicated this change to both major Indian stock exchanges. The company's shares are listed on BSE Limited under stock code 500039 and on National Stock Exchange of India Limited under the trading symbol BANCOINDIA.

The notification was signed by Company Secretary Preeti Yadav and submitted to the corporate relationship and listing departments of both exchanges. This administrative update ensures transparency and keeps all stakeholders informed about changes in the company's statutory auditing arrangements.