KIOCL : CARE REAFFIRMS BBB+ RATING, OUTLOOK REVISED TO STABLE

• CARE Ratings reaffirms CARE BBB+; Stable / CARE A2 on bank facilities of ₹1,050 Cr • Outlook revised from Negative to Stable; rating action dated October 12, 2026 • FY26 net profit ₹17 Cr against net loss of ₹205 Cr in FY25 • Pellet production up to 2.70 million tonnes in FY26 from 0.93 million tonnes; dispatch up to 2.81 million tonnes from 0.89 million tonnes • Capacity utilisation improved to ~77% from 27%, supported by ramp-up in NMDC conversion volumes • Net worth ₹1,731 Cr, gearing 0.13x and cash plus liquid investments of ~₹826 Cr as on March 31, 2026 • Devadari mine production and dispatch commencement extended to January 1, 2028; forest land handover and working permission still pending

KIOCL Ltd

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