Monitoring Agency Report

Date: July 30, 2026 Listing Department Department of Corporate Service National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, G Block, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Mumbai - 400 051. Dalal Street, Mumbai - 400 001. Symbol: SYRMA Scrip Code: 543573 Subject: Report of the Monitoring Agency under Regulation 41 (4) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. Dear Sir/ Madam, Pursuant to regulation 41 (4) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the monitoring agency report in respect of utilization of proceeds of the initial public offer of the Company for the quarter ended June 30, 2026, issued by CRISIL Ratings Limited, Monitoring Agency. The said Monitoring Agency Report shall also be available on the Company’s website at https://www.syrmasgs.com/investor-relations/disclosure/ . You are requested to take the same on record and disseminate to all the concerned. For Syrma SGS Technology Limited Bhabagrahi Pradhan Company Secretary & Compliance Officer Membership No: F4921 Place: Gurgaon ENCL: as above. Monitoring Agency Report Syrma SGS Technology Limited for the quarter ended June 30, 2026 CRL/MAR/SYMTPL/2026-27/1889 July 30, 2026 Syrma SGS Technology Limited Unit no. 601, 6th floor, Floral Deck PL MIDC, Andheri (East) Mumbai, Maharashtra - 400093 Dear Sir, Final Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Initial Public Offer (“IPO”) of Syrma SGS Technology 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 02, 2022, enclosed herewith the Final 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 June 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) Final Report of the Monitoring Agency (MA) Name of the issuer: Syrma SGS Technology Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (a) Deviation from the objects: No (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: Syrma SGS Technology Limited Names of the promoter: Mr. Sandeep Tandon Mr. Jasbir Singh Gujral Ms. Veena Kumari Tandon Tancom Electronics Private Limited Industry/sector to which it belongs: Industrial Products 2) Issue Details Issue Period: Friday, August 12, 2022, to Thursday, August 18, 2022 Type of issue (public/rights): Initial Public Offer (IPO) Type of specified securities: Equity Shares IPO Grading, if any: NA Issue size: Rs 8,401.26 million Issue size comprises of fresh issuance/gross proceeds of Rs 7,660.00 million (net proceeds of Rs 7,257.22 million*) and an offer for sale of Rs 741.26 million *Crisil Ratings shall be monitoring the net proceeds amount 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information/ certifications Comments of Comments considered by the Particulars Reply of the Board Monitoring Agency Monitoring of Directors for preparation of Agency report Proceeds were utilized towards Statutory Auditor capital Certificate^, expenditure Management and expansion undertaking, / setting up of Whether all utilization is as per the disclosures No Yes Prospectus manufacturing in the Offer Document? Comments (Hereinafter referred facilities, as “Offer Document”) working dated August 19, 2022, capital Bank Statements requirements and General Corporate purposes Source of information/ certifications Comments of Comments considered by the Particulars Reply of the Board Monitoring Agency Monitoring of Directors for preparation of Agency report Whether shareholder approval has been obtained in case of material deviations from No NA No Comments expenditures disclosed in the Offer Comments 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 No NA No Comments related to the object(s) have been obtained? Comments Statutory Auditor Certificate^, Management Whether all arrangements pertaining to undertaking No technical assistance/collaboration are in NA No Comments Comments operation? 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 No No Comments Comments the investors? NA represents Not Applicable ^Certificate dated July 28, 2026, issued by M/s. Walker Chandiok & Co LLP, Chartered Accountant (Firm Registration Number: 001076N/N500013), Statutory Auditors of the Company. 4) Details of object(s) to be monitored: i. Cost of the object(s): Comments of the Board of Directors Source of Original information/ cost Revised certification (as per the Particulars Sr. Cost Comment Item considered Offer Reason Proposed of firm No. (Rs in of the MA Head by MA for Document) of Cost financing arrange- million) preparation (Rs in revision option ments of report million) made Funding capital expenditure requirements for development of a 1 R&D facility and 4 [Showing first 8,000 characters — download PDF for full document]