Please find enclosed herewith the Monitoring Agency Report for the quarter ended September 30, 2026 issued by ICRA Limited.

WINDSOR MACHINES LIMITED Registered Office: Floor No. 3 & 4, Corporate Email : contact@windsormachines.com House No. 6, Block B, Magnet Corporate Park, Website : www.windsormachines.com Off. S G Highway, Thaltej, Ahmedabad, Gujarat, Contact Number: +91 79 69360300/01 Partner in progress India, 380054 CIN : L99999GJ1963PLC168458 November 03, 2026 BSE Limited. National Stock Exchange of India Limited. Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/ 1, G Block, Dalal Street, Fort, Bandra- Kurla Complex, Bandra (E), Mumbai - 400 001 Mumbai - 400 051 Scrip Code: 522029 Trading Symbol: WINDMACHIN Subject: Monitoring Agency Report for the quarter ended September 30, 2026. Reference: Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 [“SEBI ICDR Regulations, 2018”] and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, [“SEBI LODR Regulations”]. Dear Sir/Madam, With reference to the captioned subject and pursuant to Regulation 162A(4) of SEBI ICDR Regulations, 2018 and Regulation 32 (6) of SEBI LODR Regulations, we enclose herewith the Monitoring Agency Report for the quarter ended September 30, 2026, issued by ICRA Limited, in respect to utilization of proceeds from Preferential Issue of the Company. Kindly take the above information on your record. For Windsor Machines Limited Rohit Sojitra Company Secretary and Compliance Officer Encl: a/a Rajkot Plant: Survey No 1147, 1148, 1149 and 1177, Village: Chibhda, Sub-District: Lodhika, District: Rajkot, Gujarat, PIN: 360035 September 2026 MONITORING AGENCY REPORT Name of the Issuer: Windsor Machines Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency: ICRA Limited (a) Deviation from the objects of the issue: No deviation - The utilization of the issuance proceeds is in line with the objects of the issue. (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: P arul Digitally signed by Parul Goyal Goyal Narang Date: 2026.11.03 Narang 15:28:41 +05'30' Parul Goyal Narang Vice President & Head-Process Excellence Analyst: Dhwani Vinchhi Quality Analyst: Parul Narang September 2026 1. Issuer Details Name of the Issuer: Windsor Machines Limited Name(s) of the promoters: Promoters Plutus Investments And Holding Private Limited Source: BSE Industry/ sector to which it belongs: - Manufacturer of Plastic Processing Machinery 2. Issue Details Issue Period: Opening date- January 06, 2025 Closing date- January 08, 2025 Type of Issue: Preferential Issue Type of specified securities: Equity and Warrants fully convertible into Equity shares. IPO Grading, if any: Not Applicable, since it’s a preferential Issue Issue Size (Rs. Crore): INR 725.00 Crore (2,60,62,027 warrants + 1,17,27,910 equity *191.85 each) With OFS portion:NA Excluding OFS portion: NA Net proceeds: INR 725.00 Crore Note: The proceeds credited to the Net Proceeds account stood at INR 725.00 Crore as on 30th September 2026, as part payment was received against warrants. Hence ICRA will be monitoring INR 725.00 Crore in Q2 FY2027. September 2026 3. Details of the arrangement made to ensure the monitoring of issue proceeds. Source of information, Comments of certifications considered Comments of the Monitoring the Issuer’s Particulars Reply by the Monitoring Agency Board of Agency for the Directors preparation of report Company signed SPA for acquisition of Global CNC Private Limited @ INR 343.11 crore but in Board resolution & all approvals, round off amount of -Peer-reviewed Auditor INR 344.00 crore was mentioned. Certificate Company deducted TDS @0.1 % u/s -Confirmation from 194Q of Rs. 34.31 lakhs and paid a Whether all utilization is as per management net amount of Rs. 342.77 crore the disclosures in the Offer Yes - -Bank statement of the which is appearing as Document? Escrow utilisation. TDS was paid from account/corresponding Windsor’s current account & not from the share proceeds account, bank account statements hence balance amount INR 1.23 crore will be utilised towards GCP. Accordingly GCP cost is revised from INR 100.00 Crore to INR 101.23 Crore Whether shareholder approval has been obtained in case of Not As confirmed by the material deviations# from No comments - Applicable Issuer’s management expenditures disclosed in the Offer Document? Whether the means of finance for the disclosed objects of the No As confirmed by the No comments. - issue has changed? Issuer’s management Is there any major deviation observed over the earlier No No deviation observed. No comments - monitoring agency reports? Whether all Government/ statutory approvals related to As confirmed by the GPCB Approval Received Yes - the object(s) have been Issuer’s management obtained? Whether all arrangements pertaining to technical Not As confirmed by the As understood from the Issuer’s management assistance/ collaboration are in Applicable Issuer’s management operation? Are there any favorable events As understood from the Issuer’s No - improving the viability of these As confirmed by the management September 2026 Source of information, Comments of certifications considered Comments of the Monitoring the Issuer’s Particulars Reply by the Monitoring Agency Board of Agency for the Directors preparation of report object(s)? Issuer’s management Are there any unfavorable As understood from the Issuer’s events affecting the viability of No As confirmed by the - management the object(s)? Issuer’s management The object working capital limit As confirmed by the requirements of Windsor Issuer’s management Machines Limited and Global CNC Private Limited have been Is there any other relevant merged pursuant to the NCLT information that may materially order dated March 19, 2026, Yes - affect the decision making of the approving the amalgamation of investors? Global CNC Private Limited with Windsor Machines Limited, effective from the appointed date of April 1, 2025. September 2026 4. Details [Showing first 8,000 characters — download PDF for full document]