Monitoring Agency Report

Date: August 07, 2026 To To Sr. General Manager Sr. General Manager Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street, Mumbai – 400 001 Bandra Kurla Complex, Scrip Code: 544744 Bandra (E), Mumbai – 400 051 Symbol: POWERICA Sub: Monitoring Agency Report for the quarter ended June 30, 2026 Dear Sir/ Madam, Pursuant to Regulation 32(6) of the SEBI Listing Regulations read with Regulation 41(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, we hereby submit the Monitoring Agency Report issued by Crisil Ratings Limited, for the quarter ended June 30, 2026, in respect of utilization of the proceeds of the Initial Public Offer of the Company. The above information will also be available on the website of the Company at www.powericaltd.com. You are requested to kindly take the same on record. For Powerica Limited Anita Renuse Company Secretary & Compliance Officer ACS: 25102 Monitoring Agency Report for Powerica Limited for the quarter ended June 30, 2026 CRL/MAR/POWELIM/2026-27/1882 August 07, 2026 Powerica Limited 9th Floor, Bakhtawar, Nariman Point, Mumbai, Maharashtra - 400021 Dear Sir/Madam, Sub: Monitoring Agency Report for the quarter ended June 30, 2026- in relation to the Initial Public Offer (“IPO”) of Powerica 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 January 09, 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 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: Powerica 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: Powerica Limited Names of the promoter: Mr. Bharat Oberoi Ms. Renu Naresh Oberoi Mr. Jai Ram Oberoi Bharat Oberoi Family Trust Naresh Oberoi Family Trust Kabir and Kimaya Family Private Trust Industry/sector to which it belongs: Heavy Electrical Equipment – Power Generation 2) Issue Details Issue Period: Tuesday, March 24, 2026, to Friday, March 27, 2026 Type of issue (public/rights): Initial Public Offer (IPO) Type of specified securities: Equity Shares IPO Grading, if any: NA Issue size: Rs 700 crore Particulars of the Issue Size Amount as per the Revised amount prospectus (Rs in crore) (Rs in crore) Gross proceeds of the Fresh Issue 700.00# 700.00# Less: Issue Expenses 38.49 38.46* Net Proceeds 661.51 661.54* #Crisil Ratings shall monitor the gross proceeds amount. *During the reported quarter, Net proceeds amount was revised from Rs 661.51 crore to Rs 661.54 crore, due to change in GCP amount from Rs 136.51 crore to Rs 136.54 crore, as unutilised issue expenses of Rs. 0.03 crore were added to GCP 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information/ certifications Comments of Comments of Particulars Reply considered by the Monitoring the Board of Monitoring Agency Agency Directors for preparation of report Peer reviewed Proceeds were Independent utilized Chartered Accountant towards Certificate^, repayment of Management loans availed Whether all utilization is as per the No Yes Undertaking, by the disclosures in the Offer Document? Comments Prospectus dated Company, March 27, 2026 General (hereinafter referred corporate as “Offer Document”), purposes and Bank Statements issue expenses 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 No No No Comments disclosed objects of the issue has changed? Comments Is there any major deviation observed over No NA No Comments the earlier monitoring agency reports? Comments Peer reviewed Whether all Government/statutory Independent approvals related to the object(s) have been NA Chartered Accountant No Comments Comments obtained? 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 No No No Comments the viability of these object(s)? Comments Are there any unfavorable events affecting No N o No Comments the 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 29, 2026, issued by M/s Sultaniya Umesh & Company, Peer reviewed Chartered Accountants (Firm Registration Number: 326973E) 4) Details of object(s) to be monitored: i. Cost of the object(s): Comments of the Board of Source of Directors information/ Original cost Revised Comment of certification (as per the Sr. Cost the Particulars of Item considered by Offer Reason of Proposed No. (Rs in Monitoring firm Head MA for Document) Cost financing crore) Agency arrangements preparation of (Rs in crore) revision option made report Prepayment/repayment of certain outstanding 1 borrowings availed by 525.00 525.00 No revision No Comments the Company, in part or full Peer reviewed Independent Chartered General corporate Accountant (Refer note 2 136.51 136.54 No Comments purposes* Certificate^, 1) Management Undertaking, Sub Total Prospectus 661.51 661.54 [Showing first 8,000 characters — download PDF for full document]