Monitoring Agency Report

CIN: L45200GJ1988PLC011049 Date: 05.11.2026 To, To, BSE Limited National Stock Exchange of India Ltd Department of Corporate Services Exchange Plaza, Phiroze Jeejeebhoy Towers, Dalal Bandra Kurla Complex, Street, Fort, Bandra (E), Mumbai - 400 001 Mumbai - 400 051 Scrip Code - 514211 Symbol - SUMEETINDS Dear sir Sub: Monitoring Agency Report on the utilization of proceeds raised through issuance of equity shares by way of Right Issue for the quarter ended September 30, 2026 Dear Sir/ Madam, Pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 41(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed the Monitoring Agency Report issued by Crisil Ratings Limited (“Monitoring Agency”), on utilization of the proceeds raised through issuance of equity shares by way of Right Offering (“Right Issue”) of the Company for the quarter ended September 30, 2026. The above report has been placed before the Audit Committee and Board of Directors at their respective meetings held on November 03, 2026, for their consideration & noting. The same is also made available on the website of the Company at www.sumeetindustries.com This is for your information, records and appropriate dissemination. Thanking you. For Sumeet Industries Limited Anil Kumar Jain Company Secretary Monitoring Agency Report Sumeet Industries Limited for the quarter ended September 30, 2026 CRL/MAR/ SUMEETINDL/2026-27/2090 November 05, 2026 Sumeet Industries Limited 504, Trividh Chambers, 5th Floor, Ring Road Opp Fire Brigade Station, Surat, Gujarat, 395002 Dear Sir, Sub: Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the Rights Issue of Sumeet Industries Limited (“the Company”) Pursuant to Regulation 82(2) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“ICDR Regulations”) and Monitoring Agency Agreement dated March 10, 2026, entered with the Company, we enclose the Monitoring Agency Report, issued by Crisil Ratings Limited, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds of Rights Issue 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 Name of the issuer: Sumeet Industries Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (a) Deviation from the objects: Deviation is observed in the utilization of funds against the objects stated in the Letter of offer however, utilization is in line with change of objects as per the Shareholder’s approval. This approval was obtained for reallocation of proceeds of Rs 3,600.00 million from Object 1 and Object 2 of the offer to a new object - “To invest in Sumeet Speciality Chips Limited (Wholly owned subsidiary) to operationalize the newly acquired Chips projects (Nakoda Limited-under Liquidation) from NCLT”. (b) Range of Deviation: 10-25% 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: Sumeet Industries Limited Names of the promoter: Mr. Radheshyam Bhawarlal Jaju Industry/sector to which it belongs: Other Textile Products 2) Issue Details Issue Period: June 22, 2026, to July 20, 2026 Type of issue (public/rights): Rights Issue Type of specified securities: Equity Shares IPO Grading, if any: NA Issue size: Issue size comprises of gross proceeds of Rs. 19,975.11 lakhs (Net proceeds of Rs. 19,475.11 lakhs*). *Crisil Ratings shall be monitoring the gross proceeds amount 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / Comments certifications of the Comments of the Particulars Reply considered by Monitoring Board of Directors Monitoring Agency for Agency preparation of report All Right Issue Utilization utilization has been towards the done as per Offer Statutory Auditor objects is not Documents except certificate^, as per the deviation in Management Letter of utilization of funds undertaking, Offer but in as mentioned in Whether all utilization is as per the No Letter of Offer dated line with the Management disclosures in the Offer Document? June 08, 2026 (herein shareholder’s undertaking has referred as ‘Offer approval for been approved by Document’), Bank variation in the shareholders of Statements terms of the the company in the objects of the General meeting issue held on dated 29.09.2026 Yes, Shareholders Whether shareholder approval has (Refer note 1 approval has been been obtained in case of material in page no 6 Yes received by the deviations from expenditures Statutory Auditor of the MA company held on disclosed in the Offer Document? certificate^, Report) dated 29.09.2026 Source of information / Comments certifications of the Comments of the Particulars Reply considered by Monitoring Board of Directors Monitoring Agency for Agency preparation of report Management No Change in Whether the means of finance for the undertaking No finance for the disclosed objects of the issue has NA Comments disclosed objects of changed? the issue Is there any major deviation observed over the earlier monitoring NA NA Comments agency reports? Whether all Government/statutory approvals related to the object(s) NA Comments have been obtained? Whether all arrangements pertaining to technical No NA Statutory Auditor NA assistance/collaboration are in Comments certificate^, operation? Management Are there any favorable events undertaking improving the viability of these No NA Comments object(s)? Are there any unfavorable events affecting the viability of the No NA Comments object(s)? Is there any other relevant information that may materially No affect the decision making of the Comme [Showing first 8,000 characters — download PDF for full document]