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Press Release Meril Life Sciences Private Limited

1 CARE Ratings Limited Press Release Meril Life Sciences Private Limited December 15, 2017 Ratings Facilities Amount (Rs. crore) Rating1 Rating Action Long-term Bank Facilities (Enhanced from crore) CARE A-; Stable (Single A Minus; Outlook: Stable) Reaffirmed Long-term/ Short-term Bank Facilities CARE A-; Stable/CARE A2+ (Single A Minus; Outlook: Stable/A Two Plus) Reaffirmed Total Facilities (Rupees Ninety Five Crore only) Details of instruments/facilities in Annexure-1 Detailed Rationale& Key Rating Drivers The ratings assigned to the bank facilities of Meril Life Sciences Private Limited ( Meril Life) continue to derive strength from the vast experience and resourcefulness of its promoters - the Bilakhia Group along with Meril Life s established brand in the domestic coronary stents market and growing export penetration with approval from regulatory authorities in Europe, US Food & Drug Administration (USFDA) for few of its products and establishment of marketing subsidiaries in new regions.

1 CARE Ratings Limited Press Release Meril Life Sciences Private Limited December 15, 2017 Ratings Facilities Amount (Rs. crore) Rating1 …

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