Monitoring Agency Report

November 05, 2026 BSE Limited National Stock Exchange of India Limited Corporate Relationship Department, Exchange Plaza, Bandra Kurla Complex, 1st Floor, New Trading Ring, Bandra (E), Rotunda Building, P. J. Towers, Mumbai – 400 051 Dalal Street, Fort, Trading Symbol: LXCHEM Mumbai – 400 001 Scrip Code: 543277 Dear Sir / Madam, Sub: Intimation under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we hereby confirm that there has been no deviation in the utilization of QIP Proceeds from the objects stated in the placement document dated October 10, 2023. In this regard, please see enclosed Monitoring Agency Report issued by India Ratings & Research Private Limited (Monitoring Agent) for the quarter ended September 30, 2026. We request you to take the above on record. Thanking you, For Laxmi Organic Industries Limited Aniket Hirpara Company Secretary and Compliance Officer Encl.: A/a Date:05thNovember2026 Laxmi Organic IndustriesLimited 2ndand 3rdFloor,Chandermukhi Building, Nariman Point, Mumbai 400021. Subject: Monitoring Agency Report for the quarter ended 30thSeptember2026in relation to Qualified InstitutionsPlacement(QIP). Dear Sir, Pursuant to Regulation 173A(2) of SEBI (lssue of Capital and Disclosure Requirements) Regulations,2018 26th September 2023, please find enclosedherewith the Monitoring Agency Report, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds of QIP for the quarter ended September30, 2026. Request you to kindly take the same on records. Thanking You, For and on behalf of India Ratings & Research Private Limited Name: Shrikant Dev Designation: Company Secretary IndiaRatings & Research Private Limited A Fitch Group Company Wockhardt Towers, Level 4, West Wing, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 Tel: +91 22 4000 1700 Fax: +91 22 4000 1701 CIN/LLPIN: U67100MH1995FTC140049 www.indiaratings.co.in Report of the Monitoring Agency(MA) Name of the issuer: Laxmi Organic Industries Limited For quarter ended: 30thSeptember2026 Name of the Monitoring Agency: India Ratings & Research Private Limited (a) Deviation from the objects: No Deviation from the objects. Based on the Management undertaking and as per Statutory Auditor certificate dated 05th November 2026 issued by DELOITTE HASKINS & SELLS LLP, Chartered Accountants (FRN 117366W/W-100018) having UDIN 26111787QIHOZC4142*and other documents provided to us, no deviation from the objects has been observed. *The reference to the Statutory Auditor certificate anywhere in the MA report refers to the said certificate. (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 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 of Directors subsequent tothe 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 Signature: Name and designation of the Authorized Signatory:Shrikant Dev (Company Secretary) Date:05thNovember 2026. Page 1of 9 1) Issuer Details: Name of the issuer: Laxmi Organic Industries Limited Names of the promoter: Yellowstone Trust & Mr. Ravi Goenka Industry/sector to which it belongs: Chemical Industry 2) Issue Details: Issue Period: 5thOctober 2023 to 10thOctober 2023 Type of issue (public/rights): Qualified InstitutionsPlacement (QIP) Type of specified securities: IPO Grading, if any: Not Applicable Issue size: INR 2,591.21 Million 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / Comments Comments certifications considered by of the of the Particulars Reply Monitoring Agency for Monitoring Board of preparation of report Agency Directors Management undertaking, Refer Note Whether all utilization is as per the Statutory Auditor certificate, No Yes 1 & 2 on disclosures in the Offer Document? Placement Document, Comments page no. 4 Relevant Bank Statements. Whether shareholder approval has been Refer Note obtained in case of material deviations No NA Management undertaking 1 on page from expenditures disclosed in the Offer Comments no. 4 Document? Whether the means of finance for the No No disclosed objects of the issue has No Management undertaking Comments Comments changed? Is there any major deviation observed No No over the earlier monitoring agency No NA Comments Comments reports? Whether all Government/statutory No No approvals related to the object(s) have Yes Management undertaking Comments Comments been obtained? Page 2of 9 Source of information / Comments Comments certifications considered by of the of the Particulars Reply Monitoring Agency for Monitoring Board of preparation of report Agency Directors Whether all arrangements pertaining to No No technical assistance/collaboration are in NA Management undertaking Comments Comments operation? Are there any favorable events No No improving the viability of these No Management undertaking Comments Comments object(s)? Are there any unfavorable events No No No Management undertaking affecting the viability of the object(s)? Comments Comments Is there any other relevant information No No that may materially affect the decision No Management undertaking Comments Comments making of the investors? Page 3of 9 4) Details of object(s) to be monitored: i. Cost of object(s)- Source of Comments of the information / Original Board of Directors certifications cost Particulars considered by (as per the of Monitoring Offer Comment Reason firm Agency for Document) Revised sof the of Proposed arrangeme Sr. preparation of (INR Cost (INR Monitorin Cost financing nts No. Item Head report Million) Million) g Agency revision option made 1 Funding the capital expenditure requirements for setting up of the new innovation centre at 360.01 250.43 NA NA plot bearing number A- 309 located at Management Mahape, MIDC undertaking, Placement 2 Funding the capital No Document, Refer expenditure Comme Shareholder Note 1& requirements of our nts resolution 2below Companyfor setting up copy, Relevant of the new 1,619.66 1,729.24 NA NA Bank manufacturing facility Statements. at village Jolve and Vadadla, Bharuch, 3 General Corporate 500.97 506.05 NA NA Purposes* 4 QIP related Issue 110.57 105.59 NA NA Expenses* T [Showing first 8,000 characters — download PDF for full document]