Monitoring Agency Report for the quarter ended 30th September 2026

Date: 05.11.2026 The Officer-In-Charge (Listing) Head - Listing Operations, Listing Department BSE Limited, National Stock Exchange of India Ltd., P.J. Towers, Dalal Street, Fort, Exchange Plaza, Bandra Kurla Complex, Mumbai – 400 001 Bandra (East), Scrip Code: 538962 Mumbai - 400 051 SYMBOL: MINDACORP Sub: Monitoring Agency Report on the utilisation of proceeds raised through issuance of Share Warrants on Preferential basis for the quarter ended September 30, 2026 Dear Sir/Ma’am, Pursuant to the provisions of Regulation 32(6) of Stock Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 162A of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed the Monitoring Agency Report issued by Acuite Ratings and Research Limited, the Monitoring Agency, for the quarter ended September 30 2026. This is for your information and records. The above information will be made available on the website of the Company www.sparkminda.com. Thanking you, Yours faithfully, For Minda Corporation Limited Meenal Bansal Company Secretary and Compliance Officer Membership No. A35091 Report of the Monitoring Agency (MA)for quarter ended September 30, 2026 Name of the issuer Minda Corporation Limited. For quarter ended September 2026 Name of the Monitoring Agency AcuitéRatings and Research Limited. (a) Deviation from the objects No deviation is observed. (b) Range of Deviation Not Applicable. (c) Any other material fact to be highlighted None. 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 pertainsand may receive separate compensation for its ratings and certain credit-related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity. 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. Vikas Y Digitally signed by Vikas Y Mishra Mishra Date: 2026.11.03 17:15:49 +05'30' Signature: Signing Authority:Vikas Mishra Designation:Deputy Vice President -Process Excellence Report Date: November03, 2026 Acuité Ratings & Research Limited SEBI Registered | RBI Accredited 708, Lodha Supremus, Lodha iThink Techno Campus, Kanjurmarg (East), Mumbai –400 042 +91 99698 98000| www.acuite.in| info@acuite.in | CIN: U74999MH2005PLC155683 1 Issuer Details 1.1 Nameoftheissuer Minda Corporation Limited. 1.2 Namesofthepromoter Mr. Ashok Minda, Mrs. Sarika Minda, Mr. Akash Minda. 1.3 Promoters/Promoter Group Minda Capital Private Limited, Whiteline Barter Limited. 1.4 Industry/sector to which it belongs Auto Components and Equipment’s / Automobile and Auto Components. 2 Issue Details 2.1 Issue Period June 2025 2.2 Type of issue Preferential Issue 2.3 Type of specified securities Share Warrants 2.4 IPO Grading, if any Not Applicable 2.5 Issue size (INR Cr.) 420.75 3. Detailsofthearrangementmadetoensurethemonitoringofissue proceeds Source of information/certifications Sr. Comments of the Monitoring Comments of the Issuer’s Particulars Reply from the issuer considered by Monitoring No. Agency Audit Committee Agency forpreparation of report Yes, utilisations in the Whether all utilization is as per the disclosures in respective objects are as 1 Not Applicable the Offer Document? per disclosures by the issuer. Whether shareholder approval has been No material deviation is 2 obtained in case of material deviations from Not Applicable observed. expenditures disclosed in the Offer Document? Whether the means of finance for the disclosed 3 Not Applicable No change isobserved. objects of the issue has changed? No deviation has been reported in any of the MA reports issued for the Documents provided by Is there any major deviation observed over the preceding reporting 4 Not Applicable the issuer, Bank earlier monitoring agency reports? periods. No Comments Statement, Invoices and Further, no other MA has independent Auditors been appointed to monitor Certificate etc. the objects of the issue. No Government/Statutory Whether all Government/statutory approvals 5 Not Applicable approvalisrequired for related to the object(s) have been obtained? objects. No arrangement Whether all arrangements pertaining to pertaining to technical 6 technical assistance/collaboration are in Not Applicable assistance / collaboration operation? is required with reference to the object. No favorable events have Are there any favorable events improving the been observed that would 7 Not Applicable viability of these object(s)? improve the viability of the entity/object. No unfavorable events Are there any unfavorable events affecting the have been observed that 8 Not Applicable viability of the object(s)? would improve the viability of the object. No relevant informationis Is there any other relevant information that evidentthatmay 9 may materially affect the decision making of No materially affect the the investors? decision making of the investors. 4. Details of object(s) to be monitored: i. Cost of object(s): Source of Original cost Comments of the Issuer’s Audit Committee information/certifications (as per the Revised Sr. Comments of the ItemHead considered by Monitoring Offer Cost No. Agency for preparation of Document) (INR Cr.) Monitoring Agency Reason of Proposed Particulars of firm report (INR Cr.) Cost financing arrangement revision option As per the documents provided by the issuer, No change is No Comments 1 Debt Repayment 420.75 - including Independent observed. Auditors Certificate. Total 420.75 - ii. Progress in the object(s): Source of Amount utilized Comments of the Issuer’s information/ Amount as (INR Cr.) Total Audit Committee certifications proposed Amount NS or. . Item Heads M fooc rn o pitn ro es ri pid n ae g rr ae A td ig eb nny oc fy i Dn (o It Nh ce Ru m CO e rf .f n )e tr (Ir Na Ris e Cd r. ) be oA g fis n ha n et in g Du qr uin ag eth re eA n tt dt eh o e f u (an INmu Rt oi l Ci uz ne r.t )d MC oo nm itom rie nn gt s A o gf e t nh ce y R ie da les o fun ns dfo sr P cr o ao u cp r to s ioes ne od f report quarter quarter No warrants were subscribed during the quarter and As per the consequently, the documents issuer did not provided by the receive any issuer, Bank proceeds for Stateme [Showing first 8,000 characters — download PDF for full document]