Monitoring Agency Report for the Quarter ended March 31, 2026

CRISIL Ratings Limited, the monitoring agency, has submitted its report on Platinum Industries Limited's IPO proceeds utilization for Q4 FY2026. The company raised Rs 2,118.29 million through its IPO in February 2024. As of March 31, 2026, the company has utilized Rs 1,507.87 million (71% of total proceeds), with Rs 610.42 million still unutilized. The funds were allocated across four objectives: Egypt facility (Rs 155.02 million utilized of Rs 677.21 million), Palghar manufacturing facility (Rs 653.78 million utilized of Rs 712.61 million), working capital (Rs 271.64 million utilized of Rs 300 million), and general corporate purposes (Rs 427.43 million utilized of Rs 428.47 million). There is a delay in implementation compared to the original schedule (FY2025) now expected to complete in FY2027, attributed to pending regulatory approvals for both Egypt and Palghar facilities. No material deviations from the disclosed objects were observed.