Please find enclosed Monitoring Agency report for the quarter ended 30 September, 2026 pursuant to Regulation 32 of the SEBI LODR Regulations, 2015

RAMKRISHNA FORGINGS LIMITED Date: 30 October, 2026 National Stock Exchange of India Limited ~ BSE Limited Listing Department Department of Corporate Services Exchange Plaza, Bandra Kurla Complex Floor 25, Phiroze Jeejeebhoy Towers Bandra (East) Dalal Street Mumbai 400 051 Mumbai 400 001 Symbol: RKFORGE Scrip Code: 532527 Dear Sir/Madam, Sub: Monitoring Agency Report under Regulation 32 of the SEBI (Listin; ligations and Di ure Requirements) Regulations, 201 Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the Monitoring Agency Report for the quarter ended 30 September 2026, issued by India Ratings & Research Private Limited regarding monitoring the utilization of proceeds for the preferential allotment of 34,00,000 Equity shares of face value of Rs. 2/- each to Mr. Chaitanya Jalan, Promoter of the Company on exercise of Conversion of 34,00,000 warrants enclosed as Annexure A. Copy of the same is being also made available on the website of the Company at www.ramkrishnaforgings.com. Kindly take the aforementioned information on record and oblige. Thanking You. Yours truly, For RAMKRISHNA FORGINGS LIMY Rajesh Mundhra Company Secretary & Compliance O ACS 12991 Encl: As above Tug Kcovomne Tt INDIAS GROWTH CHAMPIONS \ 2020 swuz D & CORPORATE:OE| 23 CIRCUS AVENUE, KOLKATA 700017, WEST BENGAL, INDIA PHONE: (+91 33)4082 0300 / 7122 0300, FAX: (+91 33)409908 /8 71222 0998, EMAIL: Info@ramkrishnaforgings.cWoEmB,: www.ramkrishnaforgings.com CIN NO. :L74210WB1981PLC034281 Date: 30th October 2026 Ramkrishna Forgings Limited. 23, Circus Avenue, Kolkata – 700017. Subject: Monitoring Agency Report for the quarter ended 30th September 2026 in relation to preferential issue. Dear Sir, Pursuant to Regulation 162A (2) of SEBI (lssue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated 11th November 2025, please find enclosed herewith the Monitoring Agency Report, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds of preferential issue, for the quarter ended September 30, 2026. Request you to kindly take the same on records. Thanking You, For and on behalf of India Ratings & Research Private Limited Name: Shrikant Dev Designation: Company Secretary India Ratings & Research Private Limited A Fitch Group Company Wockhardt Towers, Level 4, West Wing, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 Tel: +91 22 4000 1700 Fax: +91 22 4000 1701 www.indiaratings.co.in Report of the Monitoring Agency (MA) Name of the issuer: Ramkrishna Forgings Limited For quarter ended: 30th September 2026 Name of the Monitoring Agency: India Ratings & Research Private Limited (a) Deviation from the objects: No deviation from the objects. Based on the documents/certificate provided to us, no deviation from the objects has been observed. (b) Range of Deviation: Not Applicable. Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit-related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board. Signature: Name and designation of the Authorized Signatory: Shrikant Dev (Company Secretary) Date: 30th October 2026. 1) Issuer Details: Name of the issuer: Ramkrishna Forgings Limited (“the Company”) Names of the promoter: • Naresh Jalan • Chaitanya Jalan • Rashmi Jalan • Radhika Jalan • Mahabir Prasad Jalan • Riddhi Jalan • Riddhi Portfolio Private Ltd Industry/sector to which it belongs: Manufacture and sale of forged components. 2) Issue Details: Issue Period: 09th January 2026 to 16th January 2026 Type of issue (public/rights): Convertible share warrants on preferential basis Type of specified securities: 34,00,000 Convertible warrants, at price of INR 588 (including premium of INR 586) per share warrant. IPO Grading, if any: Not Applicable Issue size: INR 199.92 Crores* 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / Comments certifications considered by Comments of the of the Particulars Reply Monitoring Agency for Monitoring Agency Board of preparation of report Directors Management undertaking, Whether all utilization is as per Statutory Auditor Certificate, Kindly refer to our No the disclosures in the Offer Yes Notice to Shareholders for note 1 on page 5 Comments Document? EGM, Management Approval, Relevant Bank Statements Whether shareholder approval has been obtained in case of Management undertaking, material deviations from NA NA NA Statutory Auditor Certificate. expenditures disclosed in the Offer Document? Whether the means of finance Management undertaking, No for the disclosed objects of the No No Comments Statutory Auditor Certificate. Comments issue has changed? Page 2 of 8 Source of information / Comments certifications considered by Comments of the of the Particulars Reply Monitoring Agency for Monitoring Agency Board of preparation of report Directors Is there any major deviation observed over the earlier NA NA No Comments Comments monitoring agency reports? Whether all Government/Statutory Management undertaking, No NA No Comments approvals related to the Statutory Auditor Certificate. Comments object(s) have been obtained? Whether all arrangements pertaining to technical Management undertaking, No NA No Comments assistance/collaboration are in Statutory Auditor Certificate. Comments operation? Are there any favorable events Management undertaking, No improving the viability of these No No Comments Statutory Auditor Certificate. Comments object(s)? Are there any unfavorable Management undertaking, No events affecting the viability of No No Comments Statutory Auditor Certificate. Comments the object(s)? Is there any other relevant information that may materially Management undertaking, No No No Comments affect the decision making of Statutory Auditor Certificate. Comments the investors? Page 3 of 8 4) Details of object(s) to be monitored: i. Cost of object(s)- Source of Comments of the information / Original Board of Dir [Showing first 8,000 characters — download PDF for full document]