Statement of Deviation or Variation in the use of proceeds of public issue

Date: November 03, 2026 Listing Compliance Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001, Maharashtra, India ISIN: INE1EUB01016; BSE Scrip Code: 544582 Ref.: Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Sub: Statement of Deviation or Variation in the use of proceeds of Public Issue Dear Sir/Madam, Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Please find enclosed herewith Statement of Deviation and Variation for the half year ended September 30, 2026. The said statement was reviewed by the Audit Committee and taken on record by the Board. The Certificate of utilisation of funds from issue proceed as received from M/s Patel & Panchal, Chartered Accountants (Firm's Registration No.:123744W), Statutory Auditors of the Company, has been attached herewith for your reference. Please take the same into your records. Thanking you, For, Shlokka Dyes Limited Vaibhav Pravinchandra Shah Chairman and Managing Director DIN: 06826565 Encl: a/a SHLOKKA DYES LIMITED CIN: L24299GJ2021PLC124004 PAN: ABGCS4098A GSTIN: 24ABGCS4098A1ZG +91 79229 73222 www.shlokkadyes.com Email ID - cs@shlokkadyes.com Registered office: C/54, GIDC Estate, Sayakh, Bharuch, Gujarat - 392140, India Corporate office: C/42, GIDC Estate, Odhav, Ahmedabad, Gujarat - 382415, India STATEMENT OF DEVIATION OR VARIATION FOR PROCEEDS OF PUBLIC ISSUE Name of listed entity Shlokka Dyes Limited Mode of Fund Raising Public Issues / Rights Issues / Preferential Issues / QIP / Others Date of Raising Funds October 15, 2025 Amount Raised ₹ 57.79 Crore Report filed for Quarter ended September 30, 2026 Monitoring Agency Applicable Monitoring Agency Name, if applicable Credit Rating Information Services of India Limited Is there a Deviation / Variation in use of funds Yes / No raised If yes, whether the same is pursuant to change in No terms of a contract or objects, which was approved by the shareholders If Yes, Date of shareholder Approval Not Applicable Explanation for the Deviation / Variation Refer Note - 1 Comments of the Audit Committee after review Refer Note - 2 Comments of the auditors, if any Statutory Auditor Certificate Attached as Annexure Objects for which funds have been raised and where there has been a deviation, in the following table Original Object Modified Original Modified Funds Amount of Remarks Object, if Allocation allocation, Utilised Deviation/Variation if any any (₹ in if any (₹ in for the quarter Lakhs) Lakhs) according to applicable object Not 613.00 Not 589.59 110.11 Refer Capital Expense for Applicable Applicable Note No. Plant and Machinery 1 Not 1150.00 Not 427.00 Applicable Applicable Repayment of Debt Not 2800.00 Not 3625.44 825.44 Refer Applicable Applicable Note No. Working Capital 1 Not 676.64 Not 664.28 General Corporate Applicable Applicable Purpose Not 539.22 Not 472.55 Issue Related Applicable Applicable Expenses Total 5778.86 5778.86 SHLOKKA DYES LIMITED CIN: L24299GJ2021PLC124004 PAN: ABGCS4098A GSTIN: 24ABGCS4098A1ZG +91 79229 73222 www.shlokkadyes.com Email ID - cs@shlokkadyes.com Registered office: C/54, GIDC Estate, Sayakh, Bharuch, Gujarat - 392140, India Corporate office: C/42, GIDC Estate, Odhav, Ahmedabad, Gujarat - 382415, India Note 1 - Explanation for the Deviation / Variation: 1. Capital Expense for Plant and Machinery: The Company has utilized issue proceeds amounting to Rs. 187.03 lakhs for purchases from vendors that differs from those disclosed in the Prospectus. The Company has also utilized issue proceeds amounting to Rs. 110.11 lakhs towards civil work-related expenses, which was not a specified use of proceeds under the aforementioned object. 2. Working Capital Requirements: During the Half financial year ended September 30, 2026, the Company has utilized Rs. 3,625.44 Lakhs towards Working Capital requirements as against the amount of Rs. 2,800.00 Lakhs allocated in the Prospectus dated October 15, 2025, resulting in excess utilization of Rs. 825.44 Lakhs towards the said object. Note 2: COMMENTS OF THE AUDIT COMMITTEE: The Audit Committee has reviewed the explanations provided by the Management for the above deviations and notes that: 1. The expenditures were incurred for implementation and operationalization of the project and are related to the overall capital expenditure object of the issue. 2. The utilization was made considering business exigencies and operational requirements of the Company and Company proposes to regularize and align the utilization within the overall limits of IPO proceeds in subsequent periods. For, Shlokka Dyes Limited Vaibhav Pravinchandra Shah Chairman and Managing Director DIN: 06826565 SHLOKKA DYES LIMITED CIN: L24299GJ2021PLC124004 PAN: ABGCS4098A GSTIN: 24ABGCS4098A1ZG +91 79229 73222 www.shlokkadyes.com Email ID - cs@shlokkadyes.com Registered office: C/54, GIDC Estate, Sayakh, Bharuch, Gujarat - 392140, India Corporate office: C/42, GIDC Estate, Odhav, Ahmedabad, Gujarat - 382415, India PATEL & PANCHAL Chartered Accountants IND I A The Board of Directors, SHLOKKA DYES LIMITED, CERTIFICATE FOR UTILIZATION OF FUNDS RAISED FROM ISSUE PROCEEDS 1. This certificate is issued in reference to the communication dated 31st October 2026. 2. We, Patel & Panchal, Chartered Accountants (Firm's Registration No.: 123744W), the Statutory Auditors of SHLOKKA DYES LIMITED (CIN U24299GJ2021PLC124004) having its registered office located at Plot No-C/54, GIDC,Saykha, Saran, Vagra, Bharuch-392140,Gujarat and having Permanent Account No. ABGCS4098A have been informed by the management of the Company that they require the Certificate for Utilization of funds raised from issue proceeds. Management's Responsibility for the Statement 3. For the above-mentioned purpose, the management of the Company is responsible for providing the documents, information and explanations pertaining to the Utilization of funds raised from issue proceeds. 4. This responsibility also includes the design, implementation and maintenance of internal controls relevant to the certificate, and making estimates that are reasonable in the circumstances. Auditor's Responsibility 5. Our responsibility, for the purpose of this certificate, is limited to certifying the Utilization of funds raised from issue proceeds. We conducted our verification based on the records extracted from the books of accounts and other relevant records and documents maintained by the Company in the normal course of its business for the purpose of providing reasonable assurance. 6. We have conducted our examination in accordance with the Guidance Note on Audit Reports and Certificates for Special Purposes issued by the Institute of Chartered Accountants of India and Standards on Auditing specified under Section 143(10) of the Companies Act, 2013, which includes the concepts of test check and materiality. The guidance note requires that we comply with the ethical requirements of the Code of Ethics issued by the Institute of Chartered Accountants of India. HEAD OFFICE : ANAND BRANCH : Phone : +91-79-4004 3054 230 to 232, D-Wing, Akshar Arcade, Clo. I. S. Patel & Co. Opp. Memnagar Fire Station, Opp. Limdawala Hospital, E-mail info@pandp.in Navrangpura, Station Road, Nr. Hotel Anand, ca.patelpanchal@gmail.com Ahmedabad - 380 009. Anand-388 001. URL : http://PandP.in 7. We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Service Engagement. Opinion 8. On the basis of our verification of such records extracted from the books of accounts and other relevant records and documents as referred to in paragraph 5 above, and according to the information, explanations and representations provided to us by the Management of the Company, we hereby certify th [Showing first 8,000 characters — download PDF for full document]