Monitoring agency report for the quarter ended March 31, 2026 is attached

CRISIL Ratings Limited, the monitoring agency, has submitted its report for Q4 FY2026 (ending March 31, 2026) on the utilization of IPO proceeds. The company raised Rs 1,600.13 million through its IPO in August 2024, with net proceeds of Rs 906.67 million after deducting issue expenses of Rs 133.30 million. Of the net proceeds, Rs 810 million allocated for working capital requirements and Rs 96.67 million for general corporate purposes have been fully utilized. Issue expenses stand at Rs 131.16 million out of Rs 133.30 million, leaving only Rs 2.14 million unutilized (fresh issue expenses). The monitoring agency confirms no deviations from the disclosed objects of the issue, no material changes in means of finance, and no unfavorable events affecting viability.