DISHMAN PHARMACEUTICALS & CHEMICALS LTD. - Credit Rating

Dear Sir(s), As per the provisions of Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015, we are submitting herewith the Ratings upgraded by India Ratings & Research Pvt. Ltd., to 'IND A+/Stable' from 'IND A/Positive' for Long Term facilities and to 'IND A1+' from 'IND A1' for Short Term facilities availed by our Company. Details of Rating assigned by India Rating and Research Pvt. Ltd., is mentioned in attached letter. A Rating letter dated April 17, 2017 issued by India Ratings & Research Pvt. Ltd., received by the Company on today, is also enclosed herewith.