Press Release on Credit Rating Reaffirmation of the Company by ICRA

ICRA has reaffirmed its credit ratings for NIS Management Ltd on its total rated bank facilities of ₹105.87 crore. The long-term rating stands at BBB+ (Positive) and the short-term rating at A2, both reaffirmed. Notably, the outlook has been revised upward from Stable to Positive, citing the company's improving financial profile, strong operational capabilities, and sustained business growth. The improvement is supported by IPO proceeds of ₹45.6 crore, which brought down consolidated gearing to 0.4x (from 0.6x) and total debt-to-net-worth to 0.5x (from 0.7x) as of September 2025. NIS operates in security, facility management, electronic security, and skill development, serving over 600 clients with a workforce of around 18,000 employees.