Press Release July 02, 2026 CAPRI GLOBAL CAPITAL LIMITED Rating Assigned and Upgraded

Product	Quantum (Rs. Cr) (SEBI)	Quantum (Rs. Cr) (Other FSR)	Long Term Rating	Short Term Rating	Regulated By
Bank Loan Ratings	0.00	1000.00	ACUITE AA+ | Stable | Assigned	-	RBI
Bank Loan Ratings	0.00	9550.00	ACUITE AA+ | Stable | Upgraded	-	RBI
Non Convertible Debentures (NCD)	0.00	1553.88	ACUITE AA+ | Stable | Upgraded	-	MCA
Non Convertible Debentures (NCD)	1296.12	0.00	ACUITE AA+ | Stable | Upgraded	-	SEBI
Total Outstanding	1296.12	12103.88	-	-	-
Total Withdrawn	0.00	0.00	-	-	-

Note:- For activities or ratings of instruments falling under the purview of Financial Sector Regulators other than SEBI, the grievance / dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.

Rating Rationale

­Acuité has upgraded its long-term rating to 'ACUITE AA+' (read as ACUITE Double A plus) from 'ACUITE AA' (read as ACUITE Double A) on the Rs. 9550.00 Cr. Bank Loan Facilities of Capri Global Capital Limited (CGCL). The outlook is 'Stable'. Acuité has upgraded its long-term rating to 'ACUITE AA+' (read as ACUITE Double A plus)  from 'ACUITE AA' (read as ACUITE Double A) on the Rs. 1553.88 Cr. Non-Convertible Debentures of Capri Global Capital Limited (CGCL). The outlook is 'Stable'.  Acuité has upgraded its long-term rating to 'ACUITE AA+' (read as ACUITE Double A plus)  from 'ACUITE AA' (read as ACUITE Double A) on the Rs. 1296.12 Cr. Non-Convertible Debentures of Capri Global Capital Limited (CGCL). The outlook is 'Stable'. ­Acuité has assigned its long-term rating of 'ACUITE AA+' (read as ACUITE Double A plus) on the Rs. 1000.00 Cr. Bank Loan Facilities of Capri Global Capital Limited (CGCL). The outlook is 'Stable'. Rationale for the rating The rating upgrade takes into consideration the strong growth in the scale of operations, improvements in the earning profile, and asset quality of Capri Global Group. The AUM of CGCL (consolidated) stood at Rs. 22,860.20 Cr. as on March 31, 2025 which saw a significant growth to an AUM of Rs 36623.30 Cr. for FY26. The disbursements saw a similar trend which stood at Rs 45223.00 Cr. for FY 26 as against Rs 25289.00 Cr. for FY 25, accordingly the group reported a significant improvement in PAT from Rs. 478.53 Cr. in FY25 to a PAT of Rs 949.15 Cr. for FY26.Further, on a consolidated basis the group continues to have a healthy asset quality marked by the Net non-performing assets (NNPA) of 0.90 percent as on March 31, 2025, improving to 0.54 percent as on March 31, 2026. The rating continues to drive support from CGCL’s comfortable capitalization levels marked by networth of Rs. 7203.48 Cr. with a leverage at 3.39 times as on March 31, 2026 (consolidated). CGCL’s (standalone) CRAR stood at 25.85 percent as of March 31,2026 (22.84 percent as on March 31, 2025). The rating also considers the AUM composition shifting towards more secured and safer assets like Gold Loan at 46 percent of the total AUM as of FY26  & Housing finance Loan at ~20 percent of total AUM as of FY26 followed by secured MSME and Construction finance loans. Acuite takes note of plans of diversification of the revenue stream for fees based services by venturing into the activities such as Insurance brokerage, Car loan origination platform , stock broking activities, etc. The rating remains susceptible to the delinquencies in the MSME portfolio which remains relatively high with a GNPA of 2.99 percent. Further, the rating also factors in moderate seasoning of the scaled-up loan book and its incremental contribution to the profitability indicators and susceptibility to risk inherent in the MSME and construction finance segment. Going forward, the group’s ability to profitably continue the scale-up in business, particularly the gold loan segment further, raising resources at competitive rates and maintenance of asset quality of its growing portfolio shall remain key monitorable.

About the Company

­­Capri Global Capital Limited (CGCL) is the flagship company of Capri Group which was incorporated in 1994. It is non- deposit taking systemically important non-banking finance company(NBFC-ICC) engaged in extending loans to MSMEs loans secured against property and construction finance. CGCL has a subsidiary Capri Global Housing Finance Limited (CGHFL). CGCL’s equity is listed on BSE and NSE with the promoter and promoter group holding 59.90 percent as of March 2026. CGCL is promoted by Mr. Rajesh Sharma (Managing Director) and the day-to-day operations are managed by the team led by Mr. Rajesh Sharma. The company is based in Mumbai.

About the Group

­­­­­Capri Global Capital Limited (CGCL) is the flagship company of Capri Group which was incorporated in 1994 which is based in Mumbai. It is non- deposit taking systemically important non-banking finance company(NBFC-ICC) engaged in extending loans to MSMEs loans secured against property and construction finance. CGCL has a subsidiaries such as Capri Global Housing Finance Limited (CGHFL), Capri Loans Car Platform Private Limited, Capri Global Capital Markets Private Limited, Capri Global Securities Private Limited and Capri Global Insurance Brokers Private Limited. CGCL’s equity is listed on BSE and NSE with the promoter and promoter group holding ~60 percent as on March 31, 2026. CGCL is promoted by Mr. Rajesh Sharma (Managing Director) and the day-to-day operations are managed by the team led by Mr. Rajesh Sharma.

Unsupported Rating

­Not Applicable

Analytical Approach

Extent of Consolidation

•Full Consolidation

Rationale for Consolidation or Parent / Group / Govt. Support

­­Acuite has consolidated the business and financial risk profiles of Capri Global Capital Limited (Parent Company) and its wholly owned subsidiaries. This consolidation is in the view of the common promoters, shared brand name and strong financial and operation synergies.

Key Rating Drivers

Strength

­Experienced management & healthy resources raising ability Capri group, through its flagship company CGCL, forayed into lending business in 2010, primarily focusing towards wholesale lending and gradually shifted towards a retail book. The Group’s flagship company CGCL is listed on both BSE and NSE. Capri Group is promoted by Mr. Rajesh Sharma, with an experience of around three decades in financial services sector. CGCL has a board comprising of six members with an experience of more than three to four decades in the banking, financial services, public administration sectors. The promoter group holds ~60 percent and the remaining 40 percent is held by public, which includes mutual funds, foreign portfolio investors, individuals, bodies corporate etc. CGHFL, the housing finance arm of Capri Group is a wholly owned subsidiary of CGCL. On a consolidated basis, CGCL’s Networth stood at Rs.7203.48 Cr. and AUM of Rs.36623.30  Cr. as on March 31, 2026. CGCL’s (standalone) CRAR stood at  25.85 percent as on March 31, 2026 as against 22.84 percent as on March 31, 2025. The company had a QIP equity raise of Rs. 2000 Cr. during Q1FY26 through investors which included Mutual Funds, Domestic and Foreign funds and insurance companies which has helped them augment their capital position as well as see significant growth in the Disbursments and AUM for FY26. The Group is moderately levered and its consolidated gearing stood at 3.39 times as on March 31, 2026. Sustained growth in AUM through focus diversification of portfolio Over the last few years, the group has been diversifying its portfolio towards granular MSME and housing loans and into gold loans. The Group’s portfolio comprises of four product verticals namely, loans to MSMEs which are secured against property, housing finance, construction finance, gold loans and indirect lending to smaller NBFCs and MFIs. The company had forayed into the gold loan vertical during FY2023 as a conscious attempt to increase their focus towards diversification of the loan book. CGCL has 999 dedicated branches as of FY26 out of the 1429 total branches which has helped them scale up the gold loan book to Rs 16,964.60 Cr. as against Rs 8042.2 Cr. as on March 31, 2025 in a short span of time. The consolidated Asset Under Management (AUM) increased to Rs. 36623.30 Cr. as on March 31, 2026 from Rs. 22,860.20 Cr. as on March 31, 2025. The growth in AUM was driven by growth across all product verticals but significant growth seen from the gold loan book. The Group has adopted cautious strategy towards its Construction Finance segment and intends to limit the exposure to Construction Finance to under 20 percent of AUM going forward. Under the construction finance vertical, the company majorly lends to small and medium sized developers. Acuité believes that the management’s philosophy of focusing on the retail segment and lending towards granular assets is likely to augur well from a risk standpoint. Improvement in earning profile  On a consolidated basis, Capri Group’s profitability indicators have improved from FY2025 marked by Return on Average Assets (RoAA) at 2.67 percent as on March 31, 2025 which improved to 3.56 percent as on March 31, 2026. The Operating Expenses to Earning Assets (Opex) stood at 6.75 percent as on March 31, 2025 which saw a reduction to 5.32 percent as on March 31,2026 with the Net Interest Margins (NIM) at 9.96 percent as on March 31, 2026. The group’s PAT levels saw significant improvement from FY25 with a PAT of Rs 478.53 Cr. to a PAT of Rs. 949.15 Cr. for FY26. Going forward ability of the company to build its loan portfolio while improving its profitability and sustain the growth in its fee based income will remain a monitorable.

Weakness

­Susceptibility of asset quality to inherent risks in MSME segment and real estate sector Capri Group has a presence in the lending space since 2010. The company’s primary focus of lending is MSME & Housing Finance segment which jointly contributes ~38 percent of the overall portfolio as on March 31, 2026 which has reduced from ~41 percent as of December 31, 2025. The Group primarily caters to borrowers who are self employed and are engaged in small businesses and trading activities. The cashflows of these borrowers are dependent on the overall economic activity in the region. The Gross NPAs in the MSME vertical stood at 3.95 percent from FY25 and 2.99 percent for FY26.Through its construction finance segment the company continues to be exposed to the vagaries of the real estate industry. Though these exposures are secured by way of an exclusive mortgage of immovable properties with an escrow mechanism. Additionally, a sustained slowdown in funding to the wholesale segment over the near to medium term may adversely impact the developer’s ability to complete the existing projects in a timely manner as well as launch new projects. Acuité has observed that the group’s initiated steps to take on granular exposures by focussing on housing finance. However, since MSME and Construction finance segments comprise considerable portion of the portfolio, the risk of slippage in asset quality will be a key monitorable.

ESG Factors Relevant for Rating

­Capri Global Capital Limited (CGCL) belongs to the Non-Banking Financial Companies (NBFC) sector which complements bank lending in India. Some of the material governance issues for the sector are policies and practices with regards to business ethics, board diversity and independence, compensation structure for board and KMPs, role of the audit committee and shareholders’ rights. On the social aspect, some of the critical issues for the sector are the contributions to financial inclusion and community development, sustainable financing including environmentally friendly projects and policies around data privacy. The industry, by nature has a low exposure to environmental risks. CGCL has been focusing on extending loans to MSMEs loans secured against property and construction finance. The Capri group board comprises of five members with an experience of more than three to four decades in the banking, financial services, public administration sectors. The group companies maintains adequate disclosures with respect to the various board level committees mainly audit committee, nomination and renumeration committee along with stakeholder management committee. The group companies also maintains adequate level of transparency with regards to business ethics issues like related party transactions, investors grievances, litigations, and regulatory penalties for the group, if relevant. In terms of its social impact, CGCL is actively engaged in community development programmes through its CSR activities.

Rating Sensitivity

Potential triggers (individual or collective) for an upward rating action:

­ Sustained growth in scale of operation while maintaining the asset quality Healthy capital position and profitability metrics

Potential triggers (individual or collective) for a downward rating action:

­ Material deterioration in asset quality, reflected in consolidated GNPA of 4.5  percent, or a sustained increase in credit costs Significant rise in gearing levels and/or weakening of liquidity buffers

All Covenants

­Financial ­Covenants for ISIN :INE180C07163 Standalone Net Worth: Rs 3200 Cr CRAR: 15% GNPA % (including +90 DPD): 5.00% NNPA %: 3.00% Debt Equity Ratio: 6.00 ­Covenants for the Rs 400 Cr NCD Public Issue   The Company shall not breach the CRAR as per the RBI guidelines at any given point of time and the same will be tested at the end of every quarter Creation of security and maintenance of the required security cover; Compliance with applicable law; Maintenance of corporate existence; Compliance with information covenants including submission of financial results and providing a certificate from the statutory auditor with respect to use of Issue proceeds; Intimation to the Debenture Trustee prior to undertaking or entering into any amalgamation, demerger, merger or corporate restructuring or reconstruction scheme proposed by the Company; Adherence of negative covenants; Maintenance of statutory registers and proper books of accounts as required under applicable law; Attending to the complaints received in respect of the NCDs expeditiously and satisfactorily; Transfer of unclaimed interest to the Investor Education and Protection Fund in accordance with applicable law; Enter the covenants of the issuance in the ‘security and covenant monitoring system’ hosted by the Depositories; and Compliance with anti-money laundering laws. ­Security Cover 1st Pari-Passu charge by way of hypothecation of Standard Receivables, including Loan Book, un-encumbered cash and bank balance of the Company to be shared with existing and future lenders. (Excluding Receivables offered exclusively as security to NABARD). The security shall be created upfront & perfected within 30 days from the date of creation of security. The Company shall maintain security cover of at least 1.00 times of the entire secured obligations throughout the tenure of the NCDs. All Covenants of the Issue And Default Interest Rates Default in payment: In case of default in payment principal redemption on the due dates, penal interest of at least @ 2% p.a. will be payable by the Issuer for the defaulting period on the defaulted amount. In the event the security stipulated is not created and perfected within the timelines as stipulated in the column titled ‘Security’; i.e., before making listing application to BSE Limited, additional interest of 2% (two percent) per annum or such higher rate as may be prescribed by law, shall be payable on the principal amount of the Debt Securities till the date of creation and perfection of the security interest. In case of delay in listing beyond 3 (three) Working Days from the Issue Closing Date, the Company will pay additional interest of 1% p.a. over the Coupon Rate to the Debenture Holders from the date of allotment till the listing of Debt Securities. Allotment of securities: The Issuer shall allot the NCDs within the timeline as prescribed under applicable law failing which the Issuer shall be liable to pay interest as mentioned in the prevailing law. On the happening of any of the event of default, in addition to the rights specified above, the debenture Holders/ debenture Trustees shall have the right as indicated in the SEBI Regulations/ Companies Act 2013 from time to time.

Liquidity Position

Adequate

Capri Global Capital Limited has well matched asset liability profile with no negative cumulative mismatches in the maturity buckets for a period of one year based on ALM as on March 31, 2026. The company has  cash and bank balances which stood at Rs 2122.90 Cr. as on March 31, 2026 on a consolidated level. The company has debt repayment obligations of around Rs 6200 Cr for FY 27 while the collections from loans and advances stood in excess of  Rs 10,900 Cr for the same period.

Outlook: Stable

­

Other Factors affecting Rating

­None

Key Financials - Standalone / Originator

­ Particulars Unit FY26 (Actual) FY25 (Actual) Total Assets Rs. Cr. 26438.81 16328.99 Total Income* Rs. Cr. 2304.73 1462.05 Profit After Tax (PAT) Rs. Cr. 824.96 414.89 Net worth Rs. Cr. 6736.63 3964.84 Return on Average Assets (RoAA) (%) 3.86 3.03 Return on Net Worth(RoNW) (%) 15.42 11.03 Debt/Equity Times 2.85 3.04 Gross NPA (%) 0.88 1.56 Net NPA (%) 0.50 0.91 *Total income equals to Net Interest Income plus other income ^FY25 Balance sheet has been restated.

Key Financials (Consolidated)

­ Particulars Unit FY26 (Actual) FY25 (Actual) Total Assets Rs. Cr. 32593.77 20748.15 Total Income* Rs. Cr. 3012.06 1977.12 Profit After Tax (PAT) Rs. Cr. 949.15 478.53 Net worth Rs. Cr. 7203.48 4304.10 Return on Average Assets (RoAA) (%) 3.56 2.67 Return on Net Worth(RoNW) (%) 16.50 11.76 Debt/Equity Times 3.39 3.68 Gross NPA (%) 0.91 1.53 Net NPA (%) 0.54 0.90 *Total income equals to Net Interest Income plus other income ^FY25 Balance sheet has been restated.

Status of non-cooperation with previous CRA (if applicable)

Not Applicable

Any Other Information

­None

Applicable Criteria

• Non-Banking Financing Entities: https://www.acuite.in/view-rating-criteria-44.htm • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Application Of Financial Ratios And Adjustments: https://www.acuite.in/view-rating-criteria-53.htm • Consolidation Of Companies: https://www.acuite.in/view-rating-criteria-60.htm

Note on complexity levels of the rated instrument

­In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on www.acuite.in.

Rating History

Date Name of Instruments/Facilities Term Amount (Rs. Cr) Rating/Outlook 19 Mar 2026 Term Loan Long Term 327.28 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 500.00 ACUITE AA | Stable (Assigned) Term Loan Long Term 272.72 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 187.49 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 73.70 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 135.69 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 114.24 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 157.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 208.27 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 287.50 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 708.32 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 8.89 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 125.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 16.23 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 9.38 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 250.04 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 583.31 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 400.00 ACUITE AA | Stable (Reaffirmed) Credit Exposure Limit (FCNR) Long Term 50.00 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 59.91 ACUITE AA | Stable (Reaffirmed) Proposed Non Convertible Debentures Long Term 10.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 105.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 208.35 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 239.25 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 40.09 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 60.09 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 112.35 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 41.49 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 183.32 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 162.96 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 111.60 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 129.93 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 239.93 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 400.00 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 86.78 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 23.37 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 75.92 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE AA | Stable (Reaffirmed) Proposed Long Term Loan Long Term 429.24 ACUITE AA | Stable (Reaffirmed) Proposed Long Term Loan Long Term 2000.00 ACUITE AA | Stable (Assigned) Proposed Long Term Loan Long Term 36.40 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 100.00 ACUITE AA | Stable (Reaffirmed) Proposed Non Convertible Debentures Long Term 100.00 ACUITE AA | Stable (Assigned) Proposed Non Convertible Debentures Long Term 2000.00 ACUITE AA | Stable (Assigned) Term Loan Long Term 259.23 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 47.73 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 20.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 50.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 225.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 287.00 ACUITE AA | Stable (Reaffirmed) 11 Sep 2025 Term Loan Long Term 17.82 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 183.32 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 150.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 32.91 ACUITE AA | Stable (Assigned) Term Loan Long Term 177.78 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 127.39 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 327.28 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 300.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 73.70 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 142.84 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 121.38 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 208.27 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 157.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 791.66 ACUITE AA | Stable (Reaffirmed) Credit Exposure Limit (FCNR) Long Term 64.00 ACUITE AA | Stable (Assigned) Proposed Long Term Loan Long Term 0.22 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE AA | Stable (Reaffirmed) Proposed Non Convertible Debentures Long Term 300.00 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 50.00 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 100.00 ACUITE AA | Stable (Reaffirmed) Proposed Non Convertible Debentures Long Term 80.00 ACUITE AA | Stable (Reaffirmed) Proposed Non Convertible Debentures Long Term 200.00 ACUITE AA | Stable (Assigned) Proposed Long Term Loan Long Term 935.36 ACUITE AA | Stable (Assigned) Term Loan Long Term 284.13 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 149.93 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 9.38 ACUITE AA | Stable (Assigned) Term Loan Long Term 291.70 ACUITE AA | Stable (Assigned) Term Loan Long Term 666.65 ACUITE AA | Stable (Assigned) Term Loan Long Term 68.18 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 30.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 70.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 255.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 329.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 269.93 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 187.49 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 120.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 238.35 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 269.33 ACUITE AA | Stable (Reaffirmed) 30 Apr 2025 Term Loan Long Term 200.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 185.19 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 178.52 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 171.43 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 239.58 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 80.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 270.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 350.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 40.00 ACUITE AA | Stable (Reaffirmed) Proposed Long Term Loan Long Term 564.06 ACUITE AA | Stable (Reaffirmed) Proposed Non Convertible Debentures Long Term 130.00 ACUITE AA | Stable (Reaffirmed) Non-Covertible Debentures (NCD) Long Term 20.00 ACUITE AA | Stable (Reaffirmed) Proposed Non Convertible Debentures Long Term 400.00 ACUITE AA | Stable (Assigned) Term Loan Long Term 300.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 75.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 160.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 285.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 225.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 135.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 265.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 285.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 89.48 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 134.21 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 381.82 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 300.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 135.71 ACUITE AA | Stable (Reaffirmed) Proposed Commercial Paper Program Short Term 100.00 ACUITE Not Applicable (Withdrawn) 24 Sep 2024 Proposed Commercial Paper Program Short Term 100.00 ACUITE A1+ (Reaffirmed) Term Loan Long Term 150.00 ACUITE AA | Stable (Assigned) Term Loan Long Term 150.00 ACUITE AA | Stable (Assigned) Term Loan Long Term 157.14 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 200.00 ACUITE AA | Stable (Assigned) Term Loan Long Term 178.57 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 400.00 ACUITE AA | Stable (Assigned) Term Loan Long Term 300.00 ACUITE AA | Stable (Assigned) Proposed Long Term Loan Long Term 887.15 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 70.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 110.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 200.00 ACUITE AA | Stable (Reaffirmed) Proposed Long Term Bank Facility Long Term 447.14 ACUITE AA | Stable (Reaffirmed) Proposed Non Convertible Debentures Long Term 150.00 ACUITE AA | Stable (Reaffirmed) Term Loan Long Term 300.00 ACUITE AA | Stable (Assigned) Proposed Long Term Loan Long Term 960.00 ACUITE AA | Stable (Assigned) Term Loan Long Term 250.00 ACUITE AA | Stable (Assigned) Term Loan Long Term 100.00 ACUITE AA | Stable (Assigned) Term Loan Long Term 190.00 ACUITE AA | Stable (Assigned) 31 Aug 2024 Proposed Commercial Paper Program Short Term 100.00 ACUITE A1+ (Reaffirmed) Term Loan Long Term 178.57 ACUITE AA | Stable (Upgraded from ACUITE AA- | Stable) Term Loan Long Term 200.00 ACUITE AA | Stable (Upgraded from ACUITE AA- | Stable) Term Loan Long Term 164.29 ACUITE AA | Stable (Upgraded from ACUITE AA- | Stable) Proposed Long Term Bank Facility Long Term 447.14 ACUITE AA | Stable (Upgraded from ACUITE AA- | Stable) Term Loan Long Term 110.00 ACUITE AA | Stable (Upgraded from ACUITE AA- | Stable) Term Loan Long Term 70.00 ACUITE AA | Stable (Upgraded from ACUITE AA- | Stable) Proposed Long Term Loan Long Term 880.00 ACUITE AA | Stable (Upgraded from ACUITE AA- | Stable) Proposed Non Convertible Debentures Long Term 150.00 ACUITE AA | Stable (Assigned) 16 Jan 2024 Proposed Commercial Paper Program Short Term 100.00 ACUITE A1+ (Reaffirmed) Proposed Long Term Loan Long Term 1350.00 ACUITE AA- | Stable (Reaffirmed) Term Loan Long Term 110.00 ACUITE AA- | Stable (Reaffirmed) Term Loan Long Term 150.00 ACUITE AA- | Stable (Reaffirmed) Proposed Long Term Bank Facility Long Term 440.00 ACUITE AA- | Stable (Reaffirmed) 22 Sep 2023 Proposed Commercial Paper Program Short Term 100.00 ACUITE A1+ (Reaffirmed) Proposed Long Term Loan Long Term 1350.00 ACUITE AA- | Stable (Assigned) Term Loan Long Term 110.00 ACUITE AA- | Stable (Assigned) Term Loan Long Term 150.00 ACUITE AA- | Stable (Assigned) Proposed Long Term Bank Facility Long Term 440.00 ACUITE AA- | Stable (Assigned) 14 Sep 2023 Proposed Commercial Paper Program Short Term 100.00 ACUITE A1+ (Assigned)

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*Annexure 2 - List of Entities (applicable for Consolidation or Parent / Group / Govt. Support)

Sr. No. Company Name 1 Capri Global Housing Finance Limited 2 Capri Loans Car Platform Private Limited 3 Capri Global Capital Markets Private Limited (Formerly known as Capri Global Financial Services Private Limited) 4 Capri Global Securities Private Limited (Formerly known as Capri Global Broking Private Limited) (Formerly known as Capri Global Wealth Management Private Limited) 5 Capri Global Insurance Brokers Private Limited 6 Capri Global Capital Limited

Contacts

Mohit Jain Chief Analytical Officer - Rating Operations Nattasha Venkatesh Analyst - Rating Operations	Contact details exclusively for investors and lenders Mob: +91 8591310146 Email ID: analyticalsupport@acuite.in

List of instruments and names of regulators of the instruments

As required by SEBI Circular (SEBI/HO/DDHS/DDHS-PoD-2/I/4685/2026) dated February 10, 2026, a list of activities or instruments falling under the purview of various Financial Sector Regulators (FSRs), along with the names of respective FSRs, is being disclosed below: A. Rating Activity:   Sr. No. Instrument / activity Name Regulator of the instrument 1 Listed/Proposed to be listed Bonds/Debentures/Preference Shares (all securities) SEBI 2 Unlisted/Proposed to be unlisted Bonds/Debentures/ Preference share (all securities) MCA 3 Listed PTCs / Securitisation Notes (originated by entities regulated by RBI)1 SEBI 4 Listed PTCs / Securitisation Notes (originated by entities not regulated by RBI)1 SEBI 5 Unlisted PTCs / Securitisation Notes (originated by entities regulated by RBI)1 RBI 6 Listed Commercial Paper and NCDs with original maturity less than 1 year RBI 7 Unlisted Commercial Paper and NCDs with original maturity less than 1 year RBI 8 Loan Facilities (Fund/Non-Fund Based) from Bank / NBFCs/ NHB/ FIs 2 RBI 9 External Commercial Borrowings and other similar borrowings RBI 10 Certificates of Deposit RBI 11 Fixed Deposits raised by NBFCs, Banks, HFCs, FIs RBI 12 Fixed Deposits raised by corporates other than NBFCs, Banks, HFCs, FIs MCA 13 Inter Corporate Deposits/Loans extended by Corporates MCA 14 Borrowing programme 3 - 15 Issuer Ratings 4 - 16 Credit Ratings for Capital Protection Oriented Schemes (by Mutal Funds and AIFs) SEBI 17 Credit quality ratings (CQRs) for Mutual Fund Schemes and Schemes of AIFs SEBI 18 Listed Security Receipts SEBI 19 Unlisted Security Receipts RBI 20 Independent Credit Evaluation (ICE) RBI 21 Expected Loss Ratings (For Loan Facilities [Fund/Non-Fund based] from Banks/NBFCs/NHB/FIs) RBI 22 Expected Loss Ratings (Listed / Proposed to be listed Bonds / Debentures / Preference Shares (all securities)) SEBI 23 Expected Loss Ratings (Unlisted / Proposed to be unlisted Bonds/ Debentures / Preference Shares (all securities)) MCA 24 Unlisted PTCs / Securitisation Notes (originated by entities not regulated by RBI) 1 Investor-side Regulator such as IRDAI, PFRDA 5   1 Includes securitisation transactions involving assignee payout, acquirer's payout. 2 Includes bank facilities such as liquidity facility, second loss facility that are part of securitisation transactions. 3 The rated instrument may involve issuance of different instruments such as debt securities (listed or otherwise), bank loans, commercial paper (listed or otherwise), etc. The regulator of the instrument may accordingly be SEBI, RBI or MCA and can only be determined upon issuance. In Press Release(s) subsequent to issuance(s), Acuite shall separately capture the rated quantum details along with names of respective regulators. 4 There is no instrument being rated and hence, Regulator of the Instrument is not applicable. The rating scale and definitions are being followed as stipulated in SEBI Master Circular for CRAs. 5 These ratings were assigned during regulatory regime prior to the introduction of SEBI CRA Circular dated Feb 10, 2026 and accordingly, investor side regulators have been included.   B. Other activities:   Sr. No. Activity Name Regulator of the activity 1 Monitoring Agency SEBI 2 Research activities, incidental to rating, such as research for Economy, Industries and Companies 6 Not applicable 6 permitted by SEBI vide SEBI Master Circular for CRAs. Disclosure on instruments / activities and names of regulators: A list of products/activities or ratings of instruments falling under the purview of various financial sector regulators (FSRs) along with the names of respective FSRs has also been duly disclosed by Acuite on its website. A link to the same has been provided below for ready reference: https://acuite.in/Activities-and-Regulators.html   About Acuité Ratings & Research­ Acuité is a full-service Credit Rating Agency registered with the Securities & Exchange Board of India (SEBI). The company received RBI Accreditation as an External Credit Assessment Institution (ECAI) for Bank Loan Ratings under BASEL-II norms in the year 2012. Acuité has assigned ratings to various securities, debt instruments and bank facilities of entities spread across the country and across a wide cross section of industries. It has its Registered and Head Office in Kanjurmarg, Mumbai. Disclaimer: An Acuité rating does not constitute an audit of the rated entity and should not be treated as a recommendation or opinion that is intended to substitute for a financial adviser's or investor's independent assessment of whether to buy, sell or hold any security. Ratings assigned by Acuité are based on the data and information provided by the issuer and obtained from other reliable sources. Although reasonable care has been taken to ensure that the data and information is true, Acuité, in particular, makes no representation or warranty, expressed or implied with respect to the adequacy, accuracy or completeness of the information relied upon. Acuité is not responsible for any errors or omissions and especially states that it has no financial liability whatsoever for any direct, indirect or consequential loss of any kind, arising from the use of its ratings. Ratings assigned by Acuité are subject to a process of surveillance which may lead to a revision in ratings as and when the circumstances so warrant. Please visit our website (www.acuite.in) for the latest information on any instrument rated by Acuité. Please visit https://www.acuite.in/faqs.htm to refer FAQs on Credit Rating. Note: None of the Directors on the Board of Acuité Ratings & Research Limited are members of any rating committee and therefore do not participate in discussions regarding the rating of any entity.