Statement of deviation(s) or variation(s) under Reg. 32

Ref: ISLL:CH:2026 Date: 29th October, 2026 The President The Vice President, Corporate Relationship Department Listing Compliance Department, BSE Limited National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor 25th Floor, Dalal Street, Plot No. C/2, G-Block, Mumbai 400 001 Bandra Kurla Complex, Bandra (E), Mumbai 400 051 BSE Scrip Code: 532305 NSE Symbol: INDSWFTLAB SUB: NIL STATEMENT ON DEVIATION OR VARIATION OF FUNDS RAISED THROUGH PREFERENTIAL ISSUE OF 70,00,000 FULLY CONVERTIBLE WARRANTS Dear Sir/Ma’am, Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable provisions relating to the format of the Statement of Deviation or Variation in the utilisation of proceeds of public issues, rights issues, preferential issues, Qualified Institutions Placements (QIPs), etc., we hereby confirm that there has been no deviation or variation in the utilisation of funds raised through the preferential issue of 70,00,000 (Seventy Lakh) Fully Convertible Warrants allotted on 17th September, 2026. Accordingly, a Nil Statement of Deviation, duly reviewed by the Audit Committee of the Company, for the Quarter ended 30th September, 2026 is given in "Annexure A". Kindly take the same on your records. Thanking you, For IND-SWIFT LABORATORIES LTD. PARDEEP VERMA VP-CORPORATE AFFAIRS & COMPANY SECRETARY Annexure A Statement of Deviation/variation in utilization of funds under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 We hereby state that the preferential issue proceeds of the Company as utilized during the quarter ended 30.09.2026 for the objects of the issue are given hereunder and there was no deviation in utilization of funds from those stated in the letter of offer. Statement of Deviation or Variation in utilization of funds raised Name of listed entity : Ind-Swift Laboratories Limited Mode of Fund Raising : Preferential Issue of Convertible Warrants Date of Raising Funds : 17.09.2026 Amount Raised : Rs. 34.30 Crores out of the total issue size of Rs. 137.20 Crores Report filed for Quarter ended : 30.09.2026 Monitoring Agency : Applicable Monitoring Agency Name : CARE Ratings Limited Is there a Deviation / Variation in use of funds raised : No If yes, whether the same is pursuant to change in terms of : NA a contract or objects, which was approved by the shareholders If Yes, Date of shareholder Approval : NA Explanation for the Deviation / Variation : NA Comments of the Audit Committee after review : NA Comments of the auditors, if any : NA Objects for which funds have been raised and where there has been a deviation, in the following table: Original Object Modifie Original Modified Utilization Funds Amount of Remarks if d Allocation allocation, during Utilized as Deviation/Variat any Object, (in if any the quarter at ion for the if any Crores) 30.09.2026 quarter (in crores) according to applicable object Expansion of Out of total Business: receipt of a. Expansion of NA 41.40 NIL 6.31 6.31 NIL funds, a sum of Existing Rs. 15.60 Manufacturing Crores has Facility and been utilized Setting up of a towards the new Warehouse objects of the b. Research & NA 2.00 NIL 0.33 0.33 NIL issue. Development (R&D’) c. Technology NA 1.50 NIL 0.00 0.00 NIL Upgradation d. Investment NA 5.00 NIL 4.85 4.85 NIL in subsidiary To meet the NA 53.00 NIL 3.99 3.99 NIL Working Capital Requirements of the Company General Corporate NA 34.30 NIL 0.11 0.11 NIL Purpose Total 34.30 15.60 15.60 Deviation or Variation could mean: (a) Deviation in the objects or purposes for which the funds have been raised (b) Deviation in the amount of funds actually utilized as against what was originally disclosed or (c) Change in terms of a contract referred to in the fund-raising document i.e. prospectus, letter of offer, etc.