Monitoring Agency Report for the quarter ended September 30, 2026 in respect of receipt of funds raised through preferential issue of 70,00,000 Fully Convertible Warrants

Ref: ISLL:CH:2026 Date: 3rd November, 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 SUBJECT: MONITORING AGENCY REPORT FOR THE QUARTER ENDED 30TH SEPTEMBER, 2026 IN RESPECT OF FUNDS RAISED THROUGH PREFERENTIAL ISSUE OF 70,00,000 FULLY CONVERTIBLE WARRANTS Dear Sir/Ma’am, Pursuant to Regulation 162A(4) of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, read with Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the Monitoring Agency Report issued by CARE Ratings Limited, the Monitoring Agency, for the quarter ended 30th September, 2026, with respect to the utilisation of proceeds raised through the preferential issue of 70,00,000 Fully Convertible Warrants. The aforesaid Monitoring Agency Report has been duly reviewed by the Audit Committee and taken on record by the Board of Directors of the Company. Kindly take note of the same and oblige. Thanking you, For IND-SWIFT LABORATORIES LTD. PARDEEP VERMA VP-CORPORATE AFFAIRS & COMPANY SECRETARY Encl: a/a No. CARE/NRO/GEN/2026-27/1149 The Board of Directors Ind-Swift Laboratories Limited SCO 850, Shivalik Enclave, NAC, Manimajra, Chandigarh, Chandigarh - 160101 November 02, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the Preferential Issue of Ind-Swift Laboratories Limited (“the Company”) We write in our capacity of Monitoring Agency for the Preferential Issue for the amount aggregating to Rs. 137.20 crore of the Company and refer to our duties cast under Regulation 162A 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 September 21, 2026. Request you to kindly take the same on records. Thanking you, Yours faithfully, Sandeep Aggarwal Associate Director sandeep.aggarwal@careedge.in CARE Ratings Limited 9th Floor, C-001/A2, Berger Towers, Sector-16B, 4th Floor, Godrej Coliseum, Somaiya Hospital Noida, Gautam Budh Nagar, Uttar Pradesh – 201 301 Road, Off Eastern Express Highway, Sion Phone: +91-120-445 2000 (East), Mumbai - 400 022 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in CIN-L67190MH1993PLC071691 Report of the Monitoring Agency Name of the issuer: Ind-Swift Laboratories Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: No (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: Sandeep Aggarwal Designation of Authorized person/Signing Authority: Associate Director CARE Ratings Limited 9th Floor, C-001/A2, Berger Towers, Sector-16B, 4th Floor, Godrej Coliseum, Somaiya Hospital Noida, Gautam Budh Nagar, Uttar Pradesh – 201 301 Road, Off Eastern Express Highway, Sion Phone: +91-120-445 2000 (East), Mumbai - 400 022 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in CIN-L67190MH1993PLC071691 1) Issuer Details: Name of the issuer : Ind-Swift Laboratories Limited Name of the promoter : Mr. Navrattan Munjal Industry/sector to which it belongs : Pharmaceuticals & Biotechnology - Pharmaceuticals 2) Issue Details Issue Period : 18 months from date of allotment (Date of allotment: September 17, 2026) Type of issue (public/rights) : Preferential Issue Type of specified securities : Fully convertible warrants IPO Grading, if any : - Issue size (in crore) : Rs.137.20 (CARE Ratings Limited is monitoring the gross proceeds pertaining to fresh issue under Preferential Issue) CARE Ratings Limited 9th Floor, C-001/A2, Berger Towers, Sector-16B, 4th Floor, Godrej Coliseum, Somaiya Hospital Noida, Gautam Budh Nagar, Uttar Pradesh – 201 301 Road, Off Eastern Express Highway, Sion (East), Phone: +91-120-445 2000 Mumbai - 400 022 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in CIN-L67190MH1993PLC071691 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 Board of Directors Monitoring Agency for preparation of report ^During Q2FY27, Rs.4.853 crore was invested in foreign subsidiary i.e., ISLL Middle East L.L.C-FZ, Dubai as mentioned in ISLL Middle East L.L.C-FZ, Dubai is the the placement document. As per object, the marketing arm of the company which subsidiary to utilise the said amount for its has been set up to capture the market marketing and business development. of Middle East. So, all the activities of the CA Certificate*, However, in the absence of supporting subsidiary is for the promotion of the Whether all utilization is as per the disclosures Yes^ Bank Statements, documents, including the subsidiary’s bank business of the company i.e., Ind-Swift in the Offer Document? Management Certificate statements and underlying invoices, the Laboratories Limited. The funds Monitoring Agency could not independently transferred to the subsidiary are being verify the ultimate utilisation of the funds. utilised for the promotion of business of Consequently, the Monitoring Agency relies the company. on the Management and CA Certificate for confirmation of end-use of the issue proceeds. Whether shareholder approval has been No material obtained in case of material deviations# from Management Certificate Not applicable Not applicable deviation expenditures di [Showing first 8,000 characters — download PDF for full document]