Monitoring Agency Report

CertifiIeSd9O 0 0:12 01I5SO2 70:0210 2C2MMMIL 5 Regd. O8ffi-c4eI2:n, d usEtsrtiaSatalen ,aN tahg ar Hydera-5b0a00d 1 T8e,l angIanndai,a Phon+e91:4 0238312 81/3294/2894/4894 Fax+:9 41023183 694 Emaiiln:fo @zentechnoWleobgsiiwwwet.sez.:ec no.mi,n CorpoIrdaetneNt uimtbyeL r7:2 200TPGL1C909135939 August 03, 2026 To To Listing Department Dept. of Corp. Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Dalal Street Bandra (E), Mumbai – 400 051 Mumbai- 400001 Symbol/Security ID: ZENTEC Security Code: 533339 Dear Sir/Madam, Sub: Monitoring Agency Report for QIP - Quarter ended June 30, 2026 Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and Regulation 41 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed herewith the Monitoring Agency Report dated August 03, 2026 issued by CRISIL Rating Limited (Monitoring Agency), for the quarter ended June 30, 2026 in respect of utilization of proceeds of the Qualified Institutional Placement (‘QIP’) of the Company. This is for your kind information and records. Thanking you. Yours faithfully, For Zen Technologies Limited Sourav Dhar Company Secretary & Compliance Officer Encl: As above WorkPsl:No to3 .6 H,a rdwPaarreNk e,a Srh amshaIbnatde rnAaitripoHonyrtad,le ra-b5a05d11 0T,e langIanndai,a •<rp�ML Appraisal#74961E xpI. Feb17,2028 Monitoring Agency Report Zen Technologies Limited for the quarter ended June 30, 2026 CRL/MAR/ ZETELI/2026-27/1943 August 03, 2026 Zen Technologies Limited B-42, Industrial Estate, Sanath Nagar, Hyderabad 500 018, Telangana, India Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Qualified Institutional Placement (“QIP”) of Zen Technologies Limited (“the Company”) Pursuant to Regulation 173A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated August 21, 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 QIP 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) Report of the Monitoring Agency (MA) Name of the issuer: Zen Technologies Limited For quarter ended: June 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: Zen Technologies Limited Names of the promoter: a. Mr. Kishore Dutt Atluri b. Mr. Ashok Atluri Industry/sector to which it belongs: Aerospace and defence 2) Issue Details Issue Period: Wednesday, August 21, 2024, to Friday, August 23, 2024 Type of issue (public/rights): Qualified Institutional Placement (QIP) Type of specified securities: Equity Shares QIP Grading, if any: NA Issue size: Issue size comprises of gross proceeds of Rs. 1,00,000.00 lakhs (Revised Net proceeds of Rs 97,950.77 lakhs*) *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/ Comments of certifications Comments of Particulars Reply considered by the Board of Monitoring Monitoring Agency Directors Agency for preparation of report Management undertaking, Peer- Proceeds reviewed ICA utilized Certificate^, Whether all utilization is as per the disclosures in towards Yes Placement document No Comments the Offer Document? General dated August 23, 2024 corporate (hereinafter referred as purposes “Offer document”), Bank Statements Whether shareholder approval has been obtained in case of material deviations from NA No Comments No Comments expenditures disclosed in the Offer Document? Source of information/ Comments of certifications Comments of Particulars Reply considered by the Board of Monitoring Monitoring Agency Directors Agency for preparation of report Whether the means of finance for the disclosed No No Comments No Comments objects of the issue has changed? Is there any major deviation observed over the No No Comments No Comments earlier monitoring agency reports? Management Whether all Government/statutory approvals Undertaking, Peer- NA No Comments No Comments related to the object(s) have been obtained? reviewed ICA Certificate^ Whether all arrangements pertaining to technical NA No Comments No Comments assistance/collaboration are in operation? Are there any favorable events improving the No No Comments No Comments viability of these object(s)? Are there any unfavorable events affecting the No No Comments No Comments viability of the object(s)? Is there any other relevant information that may materially affect the decision making of the No No Comments No Comments investors? NA represents Not Applicable ^Certificate dated July 16, 2026, issued by M/s NSVR & Associates LLP, (Firm Registration Number: 008801S), Peer-reviewed Independent Chartered Accountant. 4) Details of object(s) to be monitored: i. Cost of the object(s): Source of Original Comments of the Board of information/ cost Directors Revised Comment Sr. certification (as per the Cost of the No Item considered Offer Reason Proposed Particulars of (Rs in Monitoring . Head by MA for Document) of Cost financing firm arrange- lakhs) Agency preparation (Rs in revision option ments made of report lakhs) Funding working 1 capital requirements 41,000.00 41,000.00 No revision No Comments of the Company Management underta [Showing first 8,000 characters — download PDF for full document]