Monitoring Agency Report

Date: November 6, 2026 BSE Limited National Stock Exchange of India Limited Department of Corporate Services, Exchange Plaza, 5th Floor, Plot No. C/1, G P. J. Towers, Dalal Street, Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400 001 Mumbai – 400 051 Scrip Code: 544244 Scrip Name: GALAPREC Sub: Monitoring Agency Report on the utilization of proceeds raised through Initial Public Offer, for the quarter ended September 30, 2026 Dear Sir/Madam, Pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, (“SEBI LODR Regulations”) read with Regulation 162A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”), please find enclosed herewith Monitoring Agency Report in respect of utilization of proceeds of Initial Public Offer for the quarter ended September 30, 2026, issued by Crisil Ratings Limited, Monitoring Agency. Kindly take this information on your record. Thanks & Regards, For Gala Precision Engineering Limited Pooja Ladha Company Secretary and Compliance Officer Membership No.: A59339 Encl: a/a Monitoring Agency Report Gala Precision Engineering Limited for the quarter ended September 30, 2026 CRL/MAR/ GLPEPL/2026-27/2004 November 06, 2026 Gala Precision Engineering Limited A-801, 8th Floor, Thane One DIL Complex, Ghodbunder Road Majiwade, Thane (West), Maharashtra-400610 Dear Sir, Monitoring Agency Report for the quarter ended September 30, 2026, - in relation to the Initial Public Offer (“IPO”) of Gala Precision Engineering Limited (“the Company”) Pursuant to Regulation 41(2) of SEBI (lssue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated August 14, 2024, 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: Gala Precision Engineering Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (a) Deviation from the objects: Not applicable (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: Gala Precision Engineering Limited Names of the promoter: a. Mr. Kirit Vishanji Gala b. Mr. Smeet Kirit Gala Industry/sector to which it belongs: Other Industrial Products 2) Issue Details Issue Period: Monday, September 2, 2024, to Wednesday, September 4, 2024 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 1,353.40 million (Refer Note 1) Note 1: Amount Particulars (Rs in million) Gross Proceeds 1,353.40* Less: Offer Expenses 141.05 (Refer Note 3) Net Proceeds 1,212.35 *Crisil Ratings shall be monitoring the gross proceeds. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information/ Comments of certifications considered Comments of the Particulars Reply the Board of by Monitoring Agency Monitoring Agency Directors for preparation of report Peer-reviewed Independent Chartered Accountant certificate^, Proceeds utilized Management towards setting up the Whether all utilization is as per the Yes undertaking, Prospectus facility in Chennai and No comments disclosures in the Offer Document? dated September 05, 2024, capital expenditure in (hereinafter referred to as Wada Offer Document), Bank Statements Whether shareholder approval has been obtained in case of material deviations from NA No comments comments expenditures disclosed in the Offer Document? Whether the means of finance for the disclosed No No No comments objects of the issue has changed? comments Is there any major deviation observed over the No No No comments earlier monitoring agency reports? comments Whether all Government/statutory approvals Peer-reviewed (Refer Yes No comments related to the object(s) have been obtained? Independent Chartered Note 2) Accountant certificate^, Whether all arrangements pertaining to technical Management No NA No comments assistance/collaboration are in operation? undertaking comments Are there any favorable events improving the No No No comments viability of these object(s)? comments Are there any unfavorable events affecting the No No No comments viability of the object(s)? comments Is there any other relevant information that may materially affect the decision making of the No No comments comments investors? NA represents Not Applicable Note 2: The Company has taken following government approvals related to the object: Sr. Approval Department Name of the activity No. Status 1 Tamil Nadu Pollution Control Board (TNPCB) Consent to Operate (CTO) Yes 2 Tamil Nadu Pollution Control Board (TNPCB) Hazardous Waste Authorization Yes Fire License (covered with fire hydrant 3 Fire and Rescue Services Yes scope of work) 4 Directorate of Industrial Safety and Health (DISH) As build drawing approval Yes Building stability Certificate by competent 5 Directorate of Industrial Safety and Health (DISH) Yes person 6 Directorate of Industrial Safety and Health Obtaining Factory license Yes 7 Directorate of Industrial Safety and Health Registration of Contractor (RC) Yes 8 BDO Obtaining Machinery running license Yes Sanitary and Suitability Certificate (2 9 Health & Preventive medicine Yes certificate) ^Certificate dated October 30, 2026, issued by M/s M M Nissim & Co LLP., Chartered Accountants (Firm Registration Number: 107122W / W100672), Peer Reviewed Independent Chartered Accountant. 4) Details [Showing first 8,000 characters — download PDF for full document]