Goa Carbon has announced that Acuité Ratings & Research Limited has assigned and reaffirmed credit ratings on the company's enhanced bank facilities totaling ₹500.00 crores. The rating agency assigned a long-term rating of 'ACUITE BBB+' and short-term rating of 'ACUITE A2' with a stable outlook, reflecting the company's credit profile.

Rating Details and Coverage

The credit rating covers a comprehensive range of banking facilities across multiple financial institutions. The rating breakdown shows both newly assigned and reaffirmed ratings across different facility types:

Banking Partner Distribution

The rated facilities are distributed across several prominent banking institutions, demonstrating Goa Carbon's diversified banking relationships. The detailed facility-wise breakdown includes:

Rating Validity and Surveillance

The rating letter carries specific validity parameters and surveillance requirements. Key aspects include:

• Expiry Date: September 27, 2026
• Annual Fee Validity: September 27, 2026
• Next Review: September 28, 2026 (subject to surveillance fee receipt)
• Monthly Compliance: No Default Statement required on first working day of each month

Acuité Ratings reserves the right to revise the ratings and outlook based on new information or circumstances that may impact the credit profile. The rating agency emphasizes that ratings are subject to change even before the expiry date, advising lenders and investors to verify current ratings through their official website.

Regulatory Compliance

Goa Carbon has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by promptly informing the exchanges about the credit rating action. The company's proactive approach to regulatory compliance demonstrates its commitment to transparency and corporate governance standards in the Indian capital markets.

Goa Carbon Limited shareholders have successfully approved all three special resolutions through the postal ballot process conducted via remote e-voting. The voting concluded on December 15, 2025, with overwhelming support from shareholders across all proposed resolutions.

Postal Ballot Results Overview

The company announced the results on December 16, 2025, following the scrutinizer's report. All three special resolutions received strong shareholder approval with over 99% votes in favor.

Approved Resolutions

Independent Director Re-appointment

Shareholders approved the re-appointment of Mr. Subodh Nadkarni as an Independent Director for a second term of five consecutive years, effective from January 7, 2026, to January 6, 2031. The company has officially informed stock exchanges about this re-appointment pursuant to Regulation 30 of the SEBI Listing Regulations. Mr. Nadkarni brings over 40 years of industrial experience in finance, commerce, and international operations, having previously worked with Godrej Group and Sulzer Group, Switzerland.

Enhanced Borrowing Powers

The proposal to increase borrowing powers from ₹500.00 crores to ₹750.00 crores under Section 180(1)(c) of the Companies Act, 2013, received approval. This enhancement supersedes the previous resolution from July 2018 and provides the company with greater financial flexibility for existing and future business operations.

Asset Charge Creation Authority

Shareholders authorized the Board under Section 180(1)(a) of the Companies Act, 2013, to create or modify charges on the company's movable and immovable assets, including undertakings, both present and future, to secure borrowings up to ₹750.00 crores.

Voting Process Details

The remote e-voting process was conducted by MUFG Intime India Private Limited, with voting open from November 15, 2025, at 9:00 AM to December 15, 2025, at 5:00 PM. A total of 32,211 shareholders were eligible to vote as of the cut-off date of November 7, 2025. The scrutinizer Shivaram Bhat (ACS 10454) oversaw the entire process and submitted the official report.

The strong approval across all resolutions demonstrates shareholder confidence in Goa Carbon Limited's strategic direction and governance structure. These approvals position the company for enhanced operational flexibility and continued growth in the carbon industry.