Press Release July 21, 2025 GLOBAL COPPER PRIVATE LIMITED Rating Withdrawn

Product	Quantum (Rs. Cr)	Long Term Rating	Short Term Rating
Bank Loan Ratings	118.29	Not Applicable | Withdrawn	-
Bank Loan Ratings	6.00	-	Not Applicable | Withdrawn
Total Outstanding	0.00	-	-
Total Withdrawn	124.29	-	-

Rating Rationale

Acuite has withdrawn its long term and short-term ratings on the Rs 122.12 Cr. without assigning any rating of Global Copper Private Limited (GCPL) following its amalgamation with Ram Ratna Wires Limited (RRWL) as per the National Company Law Tribunal (NCLT) order dated May 29, 2025. Further, Acuite is in receipt of the No Objection Certificate (NOC)'s from the respective bankers and reviewed the satisfaction of charges over Ministry of Corporate Affairs (MCA) website. Further Acuite has withdrawan its long term bank facility of Rs 2.17 Cr. without assigning the rating as it is proposed facility of Global Copper Private Limited (GCPL). The rating is being withdrawn on account of request received from the company. The rating withdrawal is in accordance with  Acuite's policy of withdrawal of ratings as applicable to the respective instrument/facility.

About the Company

­Incorporated in the year 2010 by Mr. Laxmichand Vaghela and Mr. Hitesh Vaghela, Global Copper Private Limited is an Mumbai based company. It is engaged in the manufacturing of level wound coil (LWC) copper (Jumbo Coils) and pancake copper coil (PCC) tubes and Straight copper tubes of varied sizes, with an installed capacity of 7200 MT per annum. In 2016, this company was acquired by Honest Enterprises Limited with a shareholding of 70 per cent. Honest Enterprises Limited is closely held by Mr. Hitesh Vaghela and family based in Gujarat and manufactures stainless steel products like coils, sheets, and plates, to name a few. Later in April 2017, its shareholding was reduced to 10 per cent as GCPL was acquired by Ram Ratna Wires Limited(RRWL) with 60 per cent shareholding of the latter.The directors of the company are Mr. Mahendrakumar Rameshwarlal Kabra, Ms. Vaishali Kartikkumar Joshi, Mr. Hemant Mahendrakumar Kabra, Mr. Hitesh Laxmichand Vaghela and Ms. Neeti Jaymin Kashyap. Presently it is amalgmated with the RRWL.The company has been merged with Ram Ratna Wires Limited w.e.f April 01,2024.

About the Group

Mumbai based , Ram Ratna Wires Limited was incorporated in the year 1992 by Mr. Rameshwarlal Kabra along with his sons and is listed at BSE since 1994. It is engaged in the manufacturing of winding wires, paper covered strips, enamelled aluminium wire, copper strips & flat cables under the brand name “RR Shramik”. Epavo Electricals Private Limited is engaged in the manufacturing of BLDC motors which was incorporated in Mumbai in Year 2020.RR Imperial Electricals Limited is a joint venture between RR group and a Bangladesh based, Imperial group.It is engaged in the manufacturing processing, sale and distribution of copper enamelled wires, copper stripes (bare and paper covered), bus bars, low voltage and HT cables and electrical product which was Incorporated in year 2009 in Rajshahi (Bangladesh). Tefabo Product Private Limited  was incorporated in 2018. The company is engaged in the business of Manufacturing of fabricated components and assemblies catering to renewable energy sector.

Unsupported Rating

­Not applicable

Analytical Approach

Extent of Consolidation-Not Applicable

Rationale for Consolidation or Parent / Group / Govt. Support

­Not Applicable

Key Rating Drivers

Strengths

­Not applicable

Weaknesses

­Not applicable

Rating Sensitivities

­Not applicable

Liquidity Position

­Not applicable

Outlook-Not applicable

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Other Factors affecting Rating

­None

Key Financials

Particulars	Unit	FY 25 (Provisional)	FY 24 (Actual)
Operating Income	Rs. Cr.	3676.75	2983.25
PAT	Rs. Cr.	70.21	54.62
PAT Margin	(%)	1.91	1.83
Total Debt/Tangible Net Worth	Times	0.63	0.58
PBDIT/Interest	Times	3.22	3.32

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

­Not applicable

Any Other Information

­None

Applicable Criteria

• 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 • Default Recognition: https://www.acuite.in/view-rating-criteria-52.htm • Manufacturing Entities: https://www.acuite.in/view-rating-criteria-59.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 26 Apr 2024 Bank Guarantee (BLR) Short Term 1.00 ACUITE A2 (Reaffirmed) Bills Discounting Short Term 5.00 ACUITE A2 (Assigned) Term Loan Long Term 30.00 ACUITE BBB+ | Stable (Reaffirmed) Term Loan Long Term 1.26 ACUITE BBB+ | Stable (Reaffirmed) Covid Emergency Line. Long Term 1.31 ACUITE BBB+ | Stable (Reaffirmed) Covid Emergency Line. Long Term 0.99 ACUITE BBB+ | Stable (Assigned) Term Loan Long Term 13.90 ACUITE BBB+ | Stable (Assigned) Covid Emergency Line. Long Term 3.66 ACUITE BBB+ | Stable (Assigned) Proposed Long Term Bank Facility Long Term 2.17 ACUITE BBB+ | Stable (Assigned) Cash Credit Long Term 35.00 ACUITE BBB+ | Stable (Reaffirmed) Cash Credit Long Term 30.00 ACUITE BBB+ | Stable (Reaffirmed) 06 Jun 2023 Bank Guarantee (BLR) Short Term 1.00 ACUITE A2 (Reaffirmed) Term Loan Long Term 0.95 ACUITE BBB+ | Stable (Reaffirmed) Cash Credit Long Term 35.00 ACUITE BBB+ | Stable (Reaffirmed) Cash Credit Long Term 15.00 ACUITE BBB+ | Stable (Reaffirmed) Term Loan Long Term 30.00 ACUITE BBB+ | Stable (Assigned) Cash Credit Long Term 15.00 ACUITE BBB+ | Stable (Assigned) Term Loan Long Term 1.62 ACUITE BBB+ | Stable (Reaffirmed) 10 Mar 2022 Bank Guarantee/Letter of Guarantee Short Term 0.65 ACUITE A2 (Reaffirmed) Bank Guarantee/Letter of Guarantee Short Term 0.35 ACUITE A2 (Reaffirmed) Cash Credit Long Term 23.85 ACUITE BBB+ | Stable (Upgraded from ACUITE BBB | Stable) Cash Credit Long Term 11.15 ACUITE BBB+ | Stable (Upgraded from ACUITE BBB | Stable) Term Loan Long Term 0.95 ACUITE BBB+ | Stable (Upgraded from ACUITE BBB | Stable) Cash Credit Long Term 11.78 ACUITE BBB+ | Stable (Upgraded from ACUITE BBB | Stable) Cash Credit Long Term 3.22 ACUITE BBB+ | Stable (Upgraded from ACUITE BBB | Stable) Proposed Long Term Loan Long Term 1.62 ACUITE BBB+ | Stable (Assigned)

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Annexure - Details of instruments rated

Lender’s Name ISIN Facilities Date Of Issuance Coupon Rate Maturity Date Quantum (Rs. Cr.) Complexity Level Rating State Bank of India Not avl. / Not appl. Bank Guarantee (BLR) Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 1.00 Simple Not Applicable|Withdrawn Federal Bank Not avl. / Not appl. Bills Discounting Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 5.00 Simple Not Applicable|Withdrawn State Bank of India Not avl. / Not appl. Cash Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 35.00 Simple Not Applicable|Withdrawn Federal Bank Not avl. / Not appl. Cash Credit Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 30.00 Simple Not Applicable|Withdrawn State Bank of India Not avl. / Not appl. Covid Emergency Line. Not avl. / Not appl. Not avl. / Not appl. 28 Feb 2027 2.30 Simple Not Applicable|Withdrawn Federal Bank Not avl. / Not appl. Covid Emergency Line. Not avl. / Not appl. Not avl. / Not appl. 30 Sep 2025 3.66 Simple Not Applicable|Withdrawn Not Applicable Not avl. / Not appl. Proposed Long Term Bank Facility Not avl. / Not appl. Not avl. / Not appl. Not avl. / Not appl. 2.17 Simple Not Applicable|Withdrawn Federal Bank Not avl. / Not appl. Term Loan Not avl. / Not appl. Not avl. / Not appl. 26 Jun 2031 13.90 Simple Not Applicable|Withdrawn Federal Bank Not avl. / Not appl. Term Loan Not avl. / Not appl. Not avl. / Not appl. 26 Jun 2031 30.00 Simple Not Applicable|Withdrawn Federal Bank Not avl. / Not appl. Term Loan Not avl. / Not appl. Not avl. / Not appl. 31 Mar 2027 1.26 Simple Not Applicable|Withdrawn

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

Sr.No. Name of the company 1 Global Copper Private Limited 2 Ram Ratna Wires Limited 3 Epavo Electricals Private Limited 4 RR Imperial Electricals Limited 5 Tefabo Product Private Limited

Contacts

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

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.