Monitoring Agency Report for the Quarter Ended on 30th September, 2026.

November 05, 2026 The Secretary BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 544460 Sub: - Monitoring Agency Report for the Quarter and Half Year ended September 30, 2026 Ref : Regulation 32(6) of the SEBI (Listing Obligations & Disclosures Requirements) Regulations, 2015 Dear Sir / Ma’am, With reference to subject matter and pursuant to Regulation 32 (6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 41(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, we are enclosing herewith Monitoring Agency Report for the Quarter and Half Year ended September 30, 2026 issued by Infomerics Valuation and Rating Limited, Monitoring Agency, in respect of utilization of proceeds of the IPO of the Company. This is for your information and records please. Thanking you, Yours faithfully, For and on behalf of PATEL CHEM SPECIALITIES LIMITED Bhupesh Patel Managing Director DIN:02075545 Monitoring Agency Report for Patel Chem Specialities Limited for the quarter ended September 30, 2026 Monitoring Agency Report November 05, 2026 Patel Chem Specialities Limited Plot No. 272/4-5, Phase II, G.I.D.C. Industrial Estate, Vatva Road, Ahmedabad - 382445, Gujarat, India Dear Sir, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the Initial Public issue of Patel Chem Specialities Limited (“The Company”) We write in our capacity of Monitoring Agency for the initial public issue of equity shares for the amount aggregating to Rs. 58.80 crore of the Company and refer to our duties cast under 162A of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2018 (SEBI ICDR 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 12 May 2025. Request you to kindly take the same on records. Thanking you, For and on behalf of Infomerics Valuation and Rating Limited Mithun Vyas (Associate Director - Ratings) mithun.vyas@infomerics.com Report of the Monitoring Agency Name of the Issuer: Patel Chem Specialities Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency: Infomerics Valuation and Rating Limited (a) Deviation from the objects: No (b) Range of Deviation: NA Indicate range of percentage deviation from the amount of issue proceeds earmarked for objects. For example, up to 10%, 10 – 25%, 25-50%, 50-75%, 75-100%, not ascertainable etc. * Range of Deviation may be computed by taking weighted average of financial deviation of each object in the ratio of issue proceeds allocated for it. Non-financial deviation may be indicated separately by way of notes. 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 declare that we do not have any direct / indirect interest in or relationship with the issuer/promoters/directors/management and also confirm that we do not perceive any conflict of interest in such relationship / interest while monitoring and reporting the utilization of issue proceeds by the issuer. We further declare that this report provides true and fair view of the utilization of issue proceeds. Signature: Name of the Authorized Person / Signing Authority: Mithun Vyas Designation of Authorized person / Signing Authority: Associate Director - Ratings Seal of the Monitoring Agency: Date: November 05, 2026 1) Issuer Details: Name of the issuer: Patel Chem Specialties Limited Names of the promoters of the issuer: Bhupesh Patel Anshu Patel Vini Patel Industry/sector to which it belongs: Company operates in the field of specialty chemicals, particularly focusing on the production of cellulose-based excipients. It manufactures a diverse range of products that are critical to various industries, including pharmaceuticals, food & beverages, cosmetics, and numerous industrial applications. 2) Issue Details: Issue Period: July 25, 2025, to July 29, 2025. Type of issue (public/rights): Public Issue Type of specified securities: Equity shares Grading: Not Applicable Issue size (Rs in Crores): Rs. 58.80 crore (Refer Note 1 and Note 2 below) Note 1 70,00,000 (Seventy Lakhs) Equity Shares having face value of Rs. 10/- each at a price of Rs. 84/- per Equity Share (including a share premium of Rs. 74/- per Equity share) aggregating Rs. 58.80 crore. Note 2 Particulars Amount as per the Prospectus (Rs. in crore) Total Proceeds Received from IPO 58.80 Less: Issue Related to Expenses 7.25 Net Proceeds Available for Utilization towards Objects of the issue 51.55 Note: The company had utilized total of Rs. 16.26 crore towards the objects of the issue and issue related expense in Q2FY26, total of Rs. 6.30 towards objects of issue in Q3FY26 and there was no utilization in Q4FY26. In Q1FY27 company utilized total of Rs 1.45 crore and in Q2FY27 company utilized total of Rs 4.32 crore towards the objects of the issue. The remaining unutilized balance of Rs. 30.47 crore at the end of Q2FY27 is kept in various FDs with Axis bank and in Monitoring Agency Account. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Particulars Reply Source of information / Comments of Monitoring Comments of certifications considered by Agency Board of Monitoring Agency for Directors preparation of report Whether all the utilization is as per Yes Bank Statements, CA Utilization towards Object disclosure in Offer Document? Certificate, Management No. 1 i.e. Funding Capital (Refer Note 1 below) Declaration, Ledger, Expenditure Requirement Performa Invoice (Refer Note 1 below) Whether Shareholder approval is Not Applicable Not Applicable No Comments obtained in case of material deviations from expenditures disclosed in Offer Document? Whether means of finance for disclosed There is no change in means Not Applicable No Comments objects of the Issue has changed? of finance Any major deviation observed over the Not Applicable Not Applicable Not Applicable earlier monitoring agency reports? Whether all Government / Statutory Yes Principle approval from BSE No Comments approvals related to the object(s) obtained? Whether all arrangements pertaining to Not Applicable Not Applicable Not Applicable technical assistance/collaboration in operation? Any favorable events improving There are no events affecting Not Applicable Nil object(s) viability the viability of the objects of the issue Any unfavorable events affecting There are no events affecting Not Applicable Nil object(s) viability the viability of the objects of the issue Any other relevant information that may There is no other relevant Not Applicable Nil materially affect the decision making of information that may aff [Showing first 8,000 characters — download PDF for full document]