We submiting herewith monitoring agency report for the quarter ended on March 31, 2026 under regulation 32(6) of SEBI (LODR) Regulations, 2015.

CRISIL Ratings Limited, as the Monitoring Agency, submitted its quarterly report on the utilization of IPO and Pre-IPO proceeds for Scoda Tubes Limited. The IPO raised Rs 2,200 million in May 2025 (fresh issue), while a Pre-IPO private placement of Rs 550 million was raised in October 2024. As of March 31, 2026, Rs 1,573.58 million of IPO proceeds have been deployed out of Rs 2,200 million (71.5%), leaving Rs 626.41 million unutilized — of which Rs 588 million is parked in HDFC fixed deposits and Rs 37.99 million sits in the public issue account. The Pre-IPO proceeds are fully utilized. Capital expenditure for expanding seamless and welded tube capacity is behind schedule (Rs 567.88M used vs. Rs 769.90M target), while working capital utilization is ahead (Rs 695.87M vs. Rs 590M target). No material deviations or unfavorable events were noted by the Monitoring Agency.