Monitoring Agency Report

VARMORA GRANITO LIMITED (Formerly known as Varmora Granito Private Limited) Registered Office: 8-A, National Highway, Dhuva, Taluka Wankaner, Morbi, Gujarat — 363641, India Email: cs@varmora.com | CIN: L26914GJ2003PLC043194 | Tel.: +91 - 9909913657 Date: November 07, 2026 To, To, National Stock Exchange of India Limited (“NSE”) BSE Limited (“BSE”) Listing Department Listing Department Exchange Plaza, C-1 Block G, Bandra Kurla Corporate Relationship Department Complex Bandra [E], Mumbai — 400051 Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai - 400 001 NSE Scrip Symbol: VARMORA BSE Scrip Code: 544942 ISIN: INEOMS5301040 ISIN: INEOM5301040 Subject: Disclosure under Regulation 32 (6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015- Monitoring Agency Report Dear Sir/Madam, Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 41(4) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed herewith Monitoring Agency Report for the quarter ended September 30, 2026, issued by CRISIL Ratings Limited, duly reviewed and taken on record by the Audit Committee of the Company. The above intimation is also available on the website of the Company www.varmora.com. Kindly take the same on records. For and on behalf of Varmora Granito Limited Bhavesh Vallabhdas Varmora Managing Director DIN: 02718600 Encl: As above Crisil Monitoring Agency Report Varmora Granito Limited for the quarter ended September 30, 2026 Corporate Identity Number: U67100MH2019PLC326247 Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India Phone: +91 22 6137 3000 | www.crisilratings.com acompany of S&P Global Crisil Ratings CRL/MAR/VMRGTPL /2026-27/2045 November 06, 2026 Varmora Granito Limited 8/A, National Highway at Dhuva, Tal. Wankaner, Dist. Rajkot, Gujarat, India, 363621 Dear Sir, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the Initial Public Offer (“IPO”) proceeds of Varmora Granito Limited (“the Company”) Pursuant to Regulation 41(2) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated September 10, 2026, 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 Aouwdd Shounak Chakrava Director, Ratings (LCG) Crisil Ratings Limited Corporate Identity Number: U67100MH2019PLC326247 Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India Phone: +91 22 6137 3000 | www.crisilratings.com acompany of S&P Global Crisil Ratings Report of the Monitoring Agency (MA) Name of the issuer: Varmora Granito 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: T\e declare that this 1eport 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 receies. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoeverfo,r loss or danage front 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 compensatiofonr its ratings and certain credit-related analyses. Ve 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. T\ have submitted the report herewith in line with the format prescribed by SEBI, capturing our contments, 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 Managem/e Anudtit 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 responsibiliftoyr such comments of the issuer’s Management/Board. Signature: /M Name and designation of the Authorized Signatory: Shounak Chakravarty Designation of Authorized person/Signing Authority: Director, Ratings (LCG) Crisil Ratings Limited Corporate Identity Number: U67100MH2019PLC326247 Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India Phone: +91 22 6137 3000 | www.crisilratings.com acompany of S&P Global Crisil Ratings 1) Issuer Details: Name of the issuer: Varmora Granito Limited Names of the promoter: a. Mr Bhavesh Vallabhdas Varmora b. Mr. Hiren R Varmora c. Mr. Pramodkumar Parsotambhai Patel. Industry/sector to which it belongs: Tiles, Bathware and Sanitaryware 2 Issue Details Issue Period: Tuesday, September 22, 2026, to Thursday, September 24, 2026 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 3,200.00 million (Refer Note 1) Notel: Particulars Amount (Rs in million) Gross proceeds from the Fresh Issue 3,200.00* Less: Issue Expenses 269.97 Net Proceeds 2,930.03 *Crisil Ratings shall be monitoring the gross proceeds. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information/ certifications considered by Comments of the Comments of the Particulars Reply Monitoring Monitoring Agency Board of Directors Agency for preparation of report Statutory Auditor’s Certificate”, Management undertaking, Whether all utilization is as per the Prospectus dated No utilization in the NA No C t: disclosures in the Offer Document? September 24, reported quarter © f-omments 2026 (hereinafter referred to as “Offer document”), Bank Statements Crisil Ratings Limited Corporate Identity Number: U67100MH2019PLC326247 Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai- 400 072. India Phone: +91 22 6137 3000 | www.crisilratings.com acompany of S&P Global Crisil Ratings Source of information/ certifications q considered by Comments of the Comments of the I ety Monitoring Monitoring Agency | Board of Directors Agency for preparation of report Whether shareholder approval has beer.\ o.btamed in case of n\a.terml NA No Comments No Comments deviations from expenditures disclosed in the Offer Document? Whether the means of finance for the disclosed objects of the issue No No Comments No Comments has changed? Is there any major deviation observed over the earlier NA No Comments No Comments monitoring agency reports? Whether all Government/ statutory Statutory approvals related to the object(s) | NA Auditor’s No Comments No Comments have been obtained? Certificate”, ‘Whether all arrangements Ma [Showing first 8,000 characters — download PDF for full document]