Monitoring Agency Report

LIL/2026-27/19 Dated: 04.11.2026 The Secretary The Manager BSE Limited National Stock Exchange of India Limited New Trading Wing Exchange Plaza, C-1, Block “G” Rotunda Building 5th floor, Bandra Kurla Complex PJ Tower, Dalal Street Bandra East Mumbai- 400001 Mumbai- 400051 Scrip Code: 544894 SYMBOL: LUMINO Sub: Monitoring Agency Report under Regulation 32(6) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 41(4) of the Securities and Exchange Board of India SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 Dear Sir/Madam, Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (“SEBI”) (Listing Obligations and Disclosure Requirements) Regulations 2015, (“Listing Regulations”) read with Regulation 41(4) of SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018, please find enclosed herewith the Monitoring Agency Report issued by CRISIL Ratings Limited for the quarter ended September 30, 2026 in respect of utilization of proceeds of the Initial Public Offer (“IPO”) of the Company. This is for your information and records. Thanking you, Yours Faithfully, For Lumino Industries Limited Vivek Jain Company Secretary & Compliance Officer Membership No.: A36946 Monitoring Agency Report Lumino Industries Limited for the quarter ended September 30, 2026 CRL/MAR/ LUMIL /2026-27/2043 November 04, 2026 Lumino Industries Limited Unit No- 12/4, Merlin Acropolis 1858/1, Rajdanga Main Road, Kolkata- 700 107, West Bengal, India Dear Sir, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the Initial Public Offer (“IPO”) proceeds of Lumino Industries 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 August 20, 2026, 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: Lumino Industries Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (a) Deviation from the objects: No deviation in utilization towards objects. However, Company has invested a portion of unutilized proceeds in the debt mutual funds. Refer to the Note on 4(iii) “Deployment of unutilized proceeds” (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: Lumino Industries Limited Names of the promoter: a. Mr. Purushottam Dass Goel b. Mr. Devendra Goel c. Mr. Jay Goel Industry/sector to which it belongs: Heavy Electrical Equipment 2) Issue Details Issue Period: Thursday, August 27, 2026, to Monday, August 31, 2026 Type of issue (public/rights): Initial Public Offer (IPO) Type of specified securities: Equity Shares IPO Grading, if any: NA Issue size: Fresh issuance of Rs 5000.00 million (Refer Note 1) Note 1: Particulars Amount (Rs in million) Gross proceeds from the Fresh Issue 5,000.00* Less: Issue Expenses 374.08 Net Proceeds 4,625.92 *Crisil Ratings shall be monitoring the gross proceeds. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information/ certifications considered by Comments of the Comments of the Particulars Reply Monitoring Monitoring Agency Board of Directors Agency for preparation of report Peer reviewed Independent Chartered Accountant Proceeds are Certificate^, utilized towards Whether all utilization is as per the Management repayment of loans, Yes No Comments disclosures in the Offer Document? undertaking, general corporate Prospectus dated purpose and issue August 31, 2026 expenses (hereinafter referred to as “Offer Source of information/ certifications considered by Comments of the Comments of the Particulars Reply Monitoring Monitoring Agency Board of Directors Agency for preparation of report document”), Bank Statements Whether shareholder approval has been obtained in case of material NA No Comments No Comments deviations from expenditures disclosed in the Offer Document? Whether the means of finance for the disclosed objects of the issue No No Comments No Comments has changed? Is there any major deviation observed over the earlier NA No Comments No Comments monitoring agency reports? Peer reviewed Whether all Government/statutory Independent approvals related to the object(s) NA Chartered No Comments No Comments have been obtained? Accountant Whether all arrangements Certificate^, pertaining to technical Management NA No Comments No Comments assistance/collaboration are in undertaking operation? Are there any favorable events improving the viability of these No No Comments No Comments object(s)? Are there any unfavorable events affecting the viability of the No No Comments No Comments object(s)? Is there any other relevant information that may materially No Refer Note 2 No Comments affect the decision making of the investors? NA represents Not Applicable Note 2: The Company has parked unutilized proceeds amounting to Rs. 500.00 million in debt mutual fund, which is not in line with the interim use of proceeds as per the Offer document. Refer to the Note on 4(iii) “Deployment of unutilized proceeds” ^On the basis of the certificate dated October 28, 2026, issued by M/s R. Daga and Company, Chartered Accountants (Firm Registration Number: 328421E), Peer Reviewed Independent Chartered Accountant 3) Details of object(s) to be monitored: i. Cost of the object(s): Comments of the [Showing first 8,000 characters — download PDF for full document]