Monitoring agency report issued by CARE Ratings Limited for the quarter ended on 30.09.2026

DIAMOND POWER INFRASTRUCTURE LIMITED November 03, 2026 Corporate Relations Department Listing Department BSE Limited National Stock Exchange of India Limited 2nd Floor, P.J. Towers Exchange Plaza, Plot No. C/1, G- Block, Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 522163 NSE: DIACABS Sub: Monitoring Agency Report for the quarter ended September 30, 2026, in respect of utilisation of proceeds of the Qualified Institutions Placement (QIP) 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 173A of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed the Monitoring Agency Report for the quarter ended September 30, 2026, issued by CARE Ratings Limited, the Monitoring Agency, in respect of the utilisation of proceeds raised by the Company through the Qualified Institutions Placement. The said Report has been reviewed by the Audit Committee of the Company at its meeting held on November 3, 2026. The Report is also being made available on the website of the Company at www.dicabs.com. We request you to kindly take the same on record. Thanking you, Yours sincerely, For Diamond Power Infrastructure Limited Jayesh Patel Company Secretary ICSI Mem.No: A14898 Encl. as above Regd. Office: Westgate (True Value) D Wing, 17th Floor, Office No 1703 to 1707, Nr. YMCA Club, SG Highway, Makarba, Ahmedabad, Gujarat – 380051 CIN: L31300GJ1992PLC018198 Email: cs@dicabs.com Website: www.dicabs.com Tel No.- 02667-251354/251516 Fax No.-02267-251202 Monitoring Agency Report No. CARE/HO/GEN/2026-27/1196 The Board of Directors Diamond Power Infrastructure Limited Westgate (True Value), D Block, 17th Floor Office No. 1703 to 1707, Nr. YMCA Club Makarba, Ahmedabad Gujarat, India - 380051 November 03, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the QIP of Diamond Power Infrastructure Limited (“the Company”) We write in our capacity of Monitoring Agency for the QIP for the amount aggregating to Rs. 1,613.97 crore of the Company and refer to our duties cast under 173A of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations. In this connection, we are enclosing the Monitoring Agency Report for the quarter ended September 30, 2026, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated July 23, 2026. Request you to kindly take the same on records. Thanking you, Yours faithfully, Dhruv Shah Assistant Director dhruv.shah@careedge.in Report of the Monitoring Agency Name of the issuer: Diamond Power Infrastructure Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: Nil (b) Range of Deviation: Nil 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: Dhruv Shah Designation of Authorized person/Signing Authority: Assistant Director 1) Issuer Details: Name of the issuer : Diamond Power Infrastructure Limited Name of the promoter : GSEC Limited, Monarch Infraparks Private Limited, Rakesh Shah, Himanshu Shah & their family Industry/sector to which it belongs : Cable and Conductor Manufacturing 2) Issue Details Issue Period : July 23, 2026, to July 28, 2026 Type of issue (public/rights) : QIP Type of specified securities : Equity shares IPO Grading, if any : Not applicable Issue size (in crore) : Rs. 1,613.97 crore 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications Comments of the Comments of the Particulars Reply considered by Monitoring Agency for Monitoring Agency Board of Directors preparation of report QIP proceeds were utilised towards repayment of unsecured loans from promoter and promoter group entities; working capital requirements - primarily through vendor payments; capital Management Certificate, Bank expenditure; and general corporate Whether all utilization is as per the disclosures in the Offer Statements, CA certificate*, Invoices purposes (general corporate purpose Yes None Document? and Repayment confirmation from the utilization includes repayment of lenders. unsecured loans from corporate bodies and deferred term loans under the CIRP). A portion of the proceeds was also utilised towards issue-related expenses. All the above utilisation is as per the objects disclosed in the offer document. Whether shareholder approval has been obtained in case of material deviations# from expenditures disclosed in the Offer NA Management Certificate There is no material deviation. None Document? Whether the means of finance for the disclosed objects of the There is no change in means of finance No Management Certificate None issue have changed? towards the disclosed objects. Is there any major deviation observed over the earlier NA Not applicable This is the first MA report None monitoring agency reports? Whether all Government/statutory approvals related to the NA Management Certificate - None Source of information / certifications Comments of the Comments of the Particulars Reply considered by Monitoring Agency for Monitoring Agency Board of Directors preparation of report object(s) have been obtained? Whether all arrangements pertaining to technical NA Management Certificate - None assistance/collaboration are in operation? Are there any favorable/unfavorable events affecting the No Management Certificate - None viability of these object(s)? Is there any other relevant information that may materially Stock exchange filings and FY26 Annual Yes Please refer Note 1 below. None affect the decision making of the investors? Report *Chartered Accountant Certificate dated October 20, 2026, from Naresh & Co. (Statutory Auditor) Note: Apa [Showing first 8,000 characters — download PDF for full document]