Paul Merchants Ltd — Important, 23-12-2025: Company Update

Paul Merchants Limited's wholly-owned subsidiary, Paul Merchants Finance Private Limited (PMFPL), has seen its credit ratings withdrawn by Infomerics Valuations and Ratings Limited. The ratings, which covered long-term and short-term bank facilities, were voluntarily withdrawn at PMFPL's request. This means PMFPL no longer holds these specific credit assessments from Infomerics. Investors should note this change in the subsidiary's credit profile status, which was a company-initiated action rather than a rating agency downgrade.