Jindal Drilling & Industries : Credit Rating 28-04-2021

JDIL/SECT/2021-2022/	April 29, 2021
BSE Ltd	National Stock Exchange of India Limited
25th Floor, P.J. Towers,	Exchange Plaza, C-1,Block-G
Dalal Street, Mumbai-400 001	Bandra-KurlaComplexs
Security Code: 511034	Bandra (E), Mumbai - 400 051
	Security Code: JINDRILL

Sub: Compliances under regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- Credit Ratings

Dear Sirs,

Pursuant to Regulation 30(6) read with Part A of Schedule Ill of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, below mentioned are the details of the ratings for the company assigned by CRISIL:

Total Bank Loan Facilities Rated

Long Term Rating

Short Term Rating

Rs.421 Crore

CRISIL A-/Stable (Outlook revised from 'Negative' and rating reaffirmed)

CRISIL A2+ (Reaffirmed)

The letter giving details of the rating is received by the company on April 29, 2021 and enclosed herewith for your information.

You are requested to kindly take the same on record.

Thanking you,

For Jindal Drilling and Industries Limited

(Saurabh Agrawal)

Company Secretary

CONFIDENTIAL

RL/JINDRIL/260319/BLR/0421/08138

April 28, 2021

Mr. Pawan Rustagi

Chief Financial Officer

Jindal Drilling and Industries Limited 3rd Floor, Keshava Building

Bandra Kurla Complex, Bandra East

Mumbai City

Mumbai City - 400051

Tel - 9810039690

Dear Mr. Pawan Rustagi,

Re: Review of CRISIL Ratings on the bank facilities of Jindal Drilling and Industries Limited

All ratings assigned by CRISIL Ratings are kept under continuous surveillance and review.

Please find in the table below the ratings outstanding for the debt instruments/facilities of the company, and the rating actions by CRISIL Ratings on the ratings as on date.

Total Bank Loan Facilities Rated	Rs.421 Crore
Long Term Rating	CRISIL A-/Stable (Outlook revised from 'Negative' and rating
reaffirmed)
Short Term Rating	CRISIL A2+ (Reaffirmed)

(Bank-wise details as per Annexure 1)

As per our Rating Agreement, CRISIL Ratings would disseminate the ratings, along with the outlook, through its publications and other media, and keep the ratings, along with the outlook, under surveillance over the life of the instrument/facility. CRISIL Ratings reserves the right to withdraw, or revise the ratings, along with the outlook, at any time, on the basis of new information, or unavailability of information, or other circumstances which CRISIL Ratings believes may have an impact on the ratings.

In the event of the company not availing the proposed facilities within a period of 180 days from the date of this letter, a fresh letter of revalidation from CRISIL Ratings will be necessary.

Should you require any clarification, please feel free to get in touch with us.

With warm regards,

Yours sincerely,

Nitesh Jain	Nivedita Shibu
Director - CRISIL Ratings	Associate Director - CRISIL Ratings

Disclaimer: A rating by CRISIL Ratings reflects CRISIL Ratings' current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by CRISIL Ratings. Our ratings are based on information provided by the issuer or obtained by CRISIL Ratings from sources it considers reliable. CRISIL Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by CRISIL Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. CRISIL Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. CRISIL Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. CRISIL Ratings' criteria are available without charge to the public on the web site, www.crisil.com. CRISIL Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by CRISIL Ratings, please contact Customer Service Helpdesk at [e-mail] or at 1800-267-1301.

CRISIL Ratings Limited

(A subsidiary of CRISIL Limited)

Corporate Identity Number: U67100MH2019PLC326247

____________________________________________________________________________________

___Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: [phone] | Fax: [phone]

www.crisil.com/ratings

Annexure 1 - Bank-wise details of various facility classes (outstanding facilities)

S.No.	Bank Facility	Bank	Amount (Rs.	Outstanding Rating
in Crore)
1	Non-Fund Based Limit	State Bank of India	77	CRISIL A2+
2	Fund-Based Facilities	State Bank of India	10	CRISIL A-/Stable
3	External Commercial	IndusInd Bank Limited	270	CRISIL A-/Stable
Borrowings
4	Non-Fund Based Limit	ICICI Bank Limited	20	CRISIL A2+
5	Fund-Based Facilities	ICICI Bank Limited	1.9	CRISIL A-/Stable
6	Non-Fund Based Limit	HDFC Bank Limited	30	CRISIL A2+
7	Fund-Based Facilities	HDFC Bank Limited	12	CRISIL A-/Stable
8	Proposed Long Term Bank	--	0.1	CRISIL A-/Stable
Loan Facility
	Total		421

Disclaimer: A rating by CRISIL Ratings reflects CRISIL Ratings' current opinion on the likelihood of timely payment of the obligations under the rated instrument, and does not constitute an audit of the rated entity by CRISIL Ratings. Our ratings are based on information provided by the issuer or obtained by CRISIL Ratings from sources it considers reliable. CRISIL Ratings does not guarantee the completeness or accuracy of the information on which the rating is based. A rating by CRISIL Ratings is not a recommendation to buy / sell or hold the rated instrument; it does not comment on the market price or suitability for a particular investor. CRISIL Ratings has a practice of keeping all its ratings under surveillance and ratings are revised as and when circumstances so warrant. CRISIL Ratings is not responsible for any errors and especially states that it has no financial liability whatsoever to the subscribers / users / transmitters / distributors of its ratings. CRISIL Ratings' criteria are available without charge to the public on the web site, www.crisil.com. CRISIL Ratings or its associates may have other commercial transactions with the company/entity. For the latest rating information on any instrument of any company rated by CRISIL Ratings, please contact Customer Service Helpdesk at [e-mail] or at 1800-267-1301.

CRISIL Ratings Limited

(A subsidiary of CRISIL Limited)

Corporate Identity Number: U67100MH2019PLC326247

____________________________________________________________________________________

___Registered Office: CRISIL House, Central Avenue, Hiranandani Business Park, Powai, Mumbai- 400 076. Phone: [phone] | Fax: [phone]

www.crisil.com/ratings