Monitoring agency report for the quarter ended on September 30, 2026

Date: November 11, 2026 To, To, National Stock Exchange of India Limited BSE Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex Mumbai – 400 001 Bandra East, Mumbai – 400051 BSE SCRIP Code – “544411” Symbol: “SCODATUBES” Dear Sir / Madam, Subject: Monitoring Agency Report under Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 In terms of Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 41(2) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and Monitoring Agency Agreement dated May 22, 2025, please find attached Monitoring Agency Report for quarter ended on September 30, 2026 issued by CRISIL Ratings Limited in relation to the Initial Public Offer (“IPO”) and Pre- IPO proceeds of Scoda Tubes Limited. Kindly take the same on record and acknowledge. Thanking You Yours faithfully, For, SCODA TUBES LIMITED Jagrutkumar Rameshbhai Patel Managing Director DIN: 06785595 Enclosed: A/a. Monitoring Agency Report Scoda Tubes Limited for the quarter ended September 30, 2026 CRL/SEP/SCDTBL/2026-27/2037 November 09, 2026 Scoda Tubes Limited Survey No. 1566/1, Village Rajpur, Kadi, Mehsana, Ahmedabad – 382740, Gujarat. Dear Sir, Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the Initial Public Offer (“IPO”) proceeds of Scoda Tubes 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 May 22, 2025, 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: Scoda Tubes 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: Scoda Tubes Limited Names of the promoter: a. Mr Samarth Bharatbhai Patel b. Mr Saurabh Amrutbhai Patel c. Mr. Jagrutkumar Rameshbhai Patel d. Mr. Ravi Rameshbhai Patel Industry/sector to which it belongs: Iron and Steel Products 2) Issue Details 2.1 For proceeds from Initial Public Offer Issue Period: Wednesday, May 28, 2025, to Friday, May 30, 2025 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 2,200.00 million (Refer Note 1) Note 1: Particulars Amount (Rs in million) Gross proceeds from the Fresh Issue 2,200.00* Less: Issue Expenses 200.67 (Refer Note 2 on page 7 of the Monitoring Agency Report) Net Proceeds 1,999.33 *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 Comments of the Comments of the Board Particulars Reply considered by Monitoring Agency of Directors Monitoring Agency for preparation of report Statutory Auditor’s Certificate^, IPO Proceeds are Management utilized towards objects undertaking, Whether all utilization is as per the disclosed in the Offer Yes Prospectus dated May No Comments disclosures in the Offer Document? Document viz capital 30, 2025 (hereinafter expenditure during the referred to as “Offer reported quarter document”), Bank Statements Whether shareholder approval has been obtained in case of material deviations NA No Comments No Comments from expenditures disclosed in the Offer Document? Statutory Auditor’s Whether the means of finance for the Certificate^, No No Comments No Comments disclosed objects of the issue has changed? Management Undertaking Is there any major deviation observed over the earlier monitoring agency No No Comments No Comments reports? Whether all Government/statutory approvals related to the object(s) have NA No Comments No Comments been obtained? Source of information/ certifications Comments of the Comments of the Board Particulars Reply considered by Monitoring Agency of Directors Monitoring Agency for preparation of report Whether all arrangements pertaining to technical assistance/collaboration are in NA No Comments No Comments operation? Are there any favorable events improving No No Comments No Comments the viability of these object(s)? Are there any unfavorable events No No Comments No Comments affecting the viability of the object(s)? Is there any other relevant information that may materially affect the decision No No Comments No Comments making of the investors? NA represents Not Applicable ^ On the basis of the certificate dated October 19, 2026, issued by M/s Dhirubhai Shah & Co LLP., Chartered Accountants (Firm Registration Number: 102511W/W100298), Statutory Auditors of the Company 3) Details of object(s) to be monitored: i. Cost of the object(s): Source of Comments of the Board of Directors information/ Original cost Revised Particular certification (as per the Comment of the Sr. Cost Reason of Proposed s of firm Item considered by Offer Monitoring No. (Rs in Cost financing arrang- Head MA for Document) Agency million) revision option ements preparation of (Rs in million) made report Capital expenditure towards expanding No revision in the 1 production capacity of 769.90 769.90 No Comments cost seamless and welded tubes and pipes Statutory Funding the part Auditor’s incremental working Certificate^, No revision in the 2 1,100.00 1,100.00 [Showing first 8,000 characters — download PDF for full document]