Monitoring Agency Report

STEAMHOUSE INDIA LIMITED Date: 03rd November 2026 Ref. No.: SHIL/NOV/03/2026-27 To To Department of Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 544914 (BSE) Symbol: STEAMHOUSE (NSE) ISIN: INE0FRO01022 Subject: Monitoring Agency Report for the Quarter Ended September 30, 2026 Dear Sir/Madam, Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 41(4) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed the Monitoring Agency Report issued by CRISIL Ratings Limited, the Monitoring Agency appointed by the Company, in respect of the utilisation of the proceeds raised through the Initial Public Offering (“IPO”) of the Company for the quarter ended September 30, 2026. The Monitoring Agency Report was reviewed and taken on record by the Audit Committee and the Board of Directors of the Company at their respective meetings held on October 29, 2026. Based on the review of the utilisation of the IPO proceeds, the Company confirms that there has been no deviation or variation in the utilisation of the Issue proceeds from the objects stated in the Prospectus of the Company. The above information is submitted for your information and records. Thanking You, For Steamhouse India Limited Shyam Bhadresh Kapadia Company Secretary & Compliance Officer FCS No.: 13082 Encl.: Monitoring Agency Report for the quarter ended September 30, 2026. STEAMHOUSE INDIA LIMITED CIN: L40300GJ2015PLC083493 Contact No.: +91 9099512222, 0261-2998109 | Email Id: compliance@steamhouse.in | Website: www.steamhouse.in. Registered office address: Office No. – 324, Second Floor, Four Point, V.I.P. Road, Vesu, Surat-395007, Gujarat. Monitoring Agency Report SteamHouse India Limited for the quarter ended September 30, 2026 CRL/MAR/ PRCNPL/2026-27/2110 November 03, 2026 Steamhouse India Limited 324, Second Floor, Four Point, V.I.P. Road, Vesu, Surat-395007, Gujarat. Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the Initial Public Offer (“IPO”) of Steamhouse India Limited(“the Company”) Pursuant to Regulation 41 (2) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated December 31, 2025, enclosed herewith the Monitoring Agency Report, issued by Crisil Ratings Limited, Monitoring Agency, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds of IPO for the quarter ended September 30, 2026. Request you to kindly take the same on records. Thanking you, For and on behalf of Crisil Ratings Limited Shounak Chakravarty Director, Ratings (LCG) Report of the Monitoring Agency (MA) Name of the issuer: Steamhouse India Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (a) Deviation from the objects: Not applicable (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 we do not perceive any conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer. 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: Shounak Chakravarty Designation of Authorized person/Signing Authority: Director, Ratings (LCG) 1) Issuer Details: Name of the issuer: Steamhouse India Limited Names of the promoter: Mrs. Ritu Budhia, Mr. Vishal Sanwarprasad Budhia VB Business Trust (Trustees) VSB Business Trust Budhia Business Trust Industry/sector to which it belongs: Industrial Gases 2) Issue Details Issue Period: September 09, 2026, to September 11, 2026 Type of issue (public/rights): Initial Public Offer (IPO) Type of specified securities: Equity Shares IPO Grading, if any: NA Issue size: Rs 3,530.00 million* *Note: Particulars Amount (Rs in million) Gross proceeds 3,530.00# Less: Issue Expenses 304.94 3,225.06 Net Proceeds (Refer note 1 below on page 6 of the report) #Crisil Ratings shall be monitoring the gross proceeds. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information/ Comments certifications Comments of the Monitoring of the Particulars Reply considered by Agency Board of Monitoring Agency Directors for preparation of report Management undertaking, Statutory Auditor Proceeds were utilized towards, certificate^, Whether all utilization is as per repayment of borrowings, capital Prospectus dated No the disclosures in the Offer Yes expenditure, general corporate 09/11/2026 comments Document? purposes and issue expenses as (hereinafter referred mentioned in the offer document to as “Offer document”), Bank Statements Whether shareholder approval has been obtained in case of material deviations from NA No comments comments expenditures disclosed in the Offer Document? Whether the means of finance for the disclosed objects of the issue No No comments comments has changed? Is there any major deviation observed over the earlier NA No comments comments monitoring agency reports? Whether all Government/ All Government/ statutory statutory approvals related to the Yes Management approvals related to the capital comments object(s) have been obtained? Undertaking, expenditure have been obtained Whether all arrangements Statutory Auditor All arrangements pertaining to pertaining to technical certificate^ technical assistance/collaboration No assistance/collaboration are in w.r.t capital expenditure are in comments operation? operation Are there any favorable events improving the viability of these No No comments comments object(s)? Are there any unfavorable events affecting the viability of the No No comments comments object(s)? Is there any other relevant information that may materially No No No comments affect the decision making of the comments investors? NA represents Not Applicable ^Certificate dated October 28, 2026, issued by M/S Natvarlal Vepar [Showing first 8,000 characters — download PDF for full document]