Balkrishna Industries Ltd

Debt securities as on 30 Sept 2026

• Commercial Paper: ISIN INE787D14235, issued 25-09-2026, matures 24-12-2026, coupon 6.33% p.a., Rs 200 Cr outstanding.
• Debenture Series I - 7.20%: ISIN INE787D08047, issued 23-03-2026, matures 23-03-2029, Rs 270 Cr outstanding.
• Debenture Series II - 7.38%: ISIN INE787D08039, issued 23-03-2026, matures 22-03-2030, Rs 270 Cr outstanding.
• Debenture Series III - 7.55%: ISIN INE787D08054, issued 23-03-2026, matures 21-03-2031, Rs 210 Cr outstanding.
• Debenture Series I - 7.35%: ISIN INE787D08062, issued 03-09-2026, matures 01-09-2028, Rs 200 Cr outstanding.
• Debenture Series II - 7.38%: ISIN INE787D08070, issued 03-09-2026, matures 03-09-2029, Rs 225 Cr outstanding.
• Debenture Series III - 7.40%: ISIN INE787D08088, issued 03-09-2026, matures 03-09-2030, Rs 125 Cr outstanding.
• Total outstanding across all debt securities Rs 1500 Cr.

Debt securities as of 30 September 2026

• Balkrishna Industries CP INE787D14235, issued 25-09-2026; matures 24-12-2026; 6.33% p.a.; 90 days; issued 200 cr, outstanding 200 cr.
• Balkrishna Industries Unsecured Debenture Series I INE787D08047, issued 23-03-2026; matures 23-03-2029; 7.20% p.a.; annual; 270 cr issued/outstanding.
• Balkrishna Industries Unsecured Debenture Series II INE787D08039, issued 23-03-2026; matures 22-03-2030; 7.38% p.a.; annual; 270 cr issued/outstanding.
• Balkrishna Industries Unsecured Debenture Series III INE787D08054, issued 23-03-2026; matures 21-03-2031; 7.55% p.a.; annual; 210 cr issued/outstanding.
• Balkrishna Industries Unsecured Debenture Series I INE787D08062, issued 03-09-2026; matures 01-09-2028; 7.35% p.a.; annual; 200 cr issued/outstanding.
• Balkrishna Industries Unsecured Debenture Series II INE787D08070, issued 03-09-2026; matures 03-09-2029; 7.38% p.a.; annual; 225 cr issued/outstanding.
• Balkrishna Industries Unsecured Debenture Series III INE787D08088, issued 03-09-2026; matures 03-09-2030; 7.40% p.a.; annual; 125 cr issued/outstanding.

Balkrishna Industries Limited — Trading Window closes from 1 October 2026 till 48 hours after the financial results for the quarter ending 30 September 2026 become generally available.

Balkrishna Industries Ltd: Trading Window closed from 1 October 2026 till 48 hours after the financial results for the quarter ending 30 September 2026 become generally available

Rating action

• CRISIL assigns A1+ rating to Balkrishna Industries' proposed Rs 500 crore CP.
• Rating valid for 60 days for the CP programme; valid through CP life up to one year.
• CRISIL will keep the rating under surveillance; may withdraw or revise as needed.
• Rating reflects timely payment risk; not an audit and based on issuer information.

Instruments and rating details

• Instrument: Commercial Paper, Rs 500 crore.
• Rating agency: CRISIL Ratings.
• Rating type: Short-term CP rating (A1+).

Rationale and surveillance

• A1+ indicates very strong safety and lowest credit risk.
• Rating under continuous surveillance; may be revised if information changes.
• Not an audit; rating based on issuer-provided information.

Rating action

• CRISIL assigns A1+ rating to Balkrishna Industries' proposed Rs 500 crore CP.

Instrument details

• Instrument: Commercial Paper; Amount: ₹500 crore; Rating: A1+; Maturity: up to 1 year.

Validity & surveillance

• Rating letter valid for 60 days from date; CP programme rating under surveillance.

Rationale

• A1+ indicates very strong safety and lowest credit risk for timely payments.

Agency & context

• Agency: CRISIL Ratings Limited; rating kept under continuous surveillance.

Material changes

• New CP rating; references previous June 18, 2026 letter; ongoing surveillance.

CGST adjudication order

• Adjudication order under CGST Act 2017 for FY 2021-22 and 2022-23; demand of Rs 1.05 crore plus penalty.
• Authority: Assistant Commissioner of CGST, Bhuj Division, Gandhidham (Kutch).
• Date of receipt: 21 September 2026.
• No impact on financials or operations; order is appealable and contestable at higher appellate level.
• Intimation received on 21 September 2026; information placed on the company's website.

CGST adjudication details

• Adjudication order under CGST Act for FY 2021-22 and 2022-23.
• Demand confirmed for Rs 1.05 crore along with equivalent penalty for input tax credit disallowance.
• Order received Sept 21, 2026 by email.
• No impact on financials or operations; matter is being contested at higher appellate level.

Regulatory notice: transfer of shares to IEPF

• Public Notice for transfer of shares to IEPF published on 14 Sep 2026 in Business Standard and Sakal.