HiIKAL November 11, 2016 Dept. of Corporate Services Listing Department BSE Ltd. National Stock Exchange of India Ltd. PJ Towers, Exchange Plaza, Bandra Kurla Complex Dalal Street, Bandra (East) Mumbai - 400 001 ‘Mumbai 400051 BSE Scrip Code : 524735 NSE Symbol : HIKAL Dear Sir, Subject: isclosure under Regulation 30 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that ICRA Limited [“ICRA”] (Credit Rating Agency) has upgraded the Company’s Long Term Rating from BBB to BBB+. The outlook on Long Term Rating is stable. ICRA has reaffirmed the Short Term Rating of A2. This is for your information and records. Thanking you, Yours faithfully, for HIKAL LTD., AObe op Sham Wahalekar Sr. V.P. Finance & Company Secretary HIKAL LTD Amn. Office : Great Eastern Chambers, Secior- 11, CBD Belapur, Navi Mumbai - 400 614. Tl: (91-22) 2097 3100 Fax: (91-22) 2097 3281 Regd, Office: 717/718, Maker ChambarV, 7th For, Naan Point, Mumal - 400 021 Tel. : (81-22) 6690 1801 / 2283 4587 Fax: (91-22) 2283 9913 Ema: info@hika.com Web. wnw.ikal.com CIN : 24200MH1888PTCO48028