Monitoring Agency Report

WINDSOR MACHINES LIMITED Registered Office: Floor No. 3 & 4, Corporate Email : contact@windsormachines.com House No. 6, Block B, Magnet Corporate Park, Website : www.windsormachines.com Off. S G Highway, Thaltej, Ahmedabad, Gujarat, Contact Number: +91 79 69360300/01 Partner in progress India, 380054 CIN : L99999GJ1963PLC168458 August 08, 2026 BSE Limited. National Stock Exchange of India Limited. Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/ 1, G Block, Dalal Street, Fort, Bandra- Kurla Complex, Bandra (E), Mumbai - 400 001 Mumbai - 400 051 Scrip Code: 522029 Trading Symbol: WINDMACHIN Subject: Monitoring Agency Report for the quarter ended June 30, 2026. Reference: Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 [“SEBI ICDR Regulations, 2018”] and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, [“SEBI LODR Regulations”]. Dear Sir/Madam, With reference to the captioned subject and pursuant to Regulation 162A(4) of SEBI ICDR Regulations, 2018 and Regulation 32 (6) of SEBI LODR Regulations, we are enclosing herewith the Monitoring Agency Report for the quarter ended June 30, 2026, issued by ICRA Limited, in respect to utilization of proceeds from Preferential Issue of the Company. Kindly take the above information on your record. For Windsor Machines Limited Rohit Sojitra Company Secretary and Compliance Officer Encl: a/a Rajkot Plant: Survey No 1147, 1148, 1149 and 1177, Village: Chibhda, Sub-District: Lodhika, District: Rajkot, Gujarat, PIN: 360035 June 2026 MONITORING AGENCY REPORT Name of the Issuer: Windsor Machines Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: ICRA Limited (a) Deviation from the objects of the issue: No deviation - The utilization of the issuance proceeds is in line with the objects of the issue. (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: Digitally signed by Parul Goyal Parul Goyal Narang N arang Date: 2026.08.08 10:23:58 +05'30' Parul Goyal Narang Vice President & Head-Process Excellence Analyst: Dhwani Vinchhi Quality Analyst: Parul Narang June 2026 1. Issuer Details Name of the Issuer: Windsor Machines Limited Name(s) of the promoters: Promoters Plutus Investments And Holding Private Limited Source: BSE Industry/ sector to which it belongs: - Manufacturer of Plastic Processing Machinery 2. Issue Details Issue Period: Opening date- January 06, 2025 Closing date- January 08, 2025 Type of Issue: Preferential Issue Type of specified securities: Equity and Warrants fully convertible into Equity shares. IPO Grading, if any: Not Applicable, since it’s a preferential Issue Issue Size (Rs. Crore): INR 725.00 Crore (2,60,62,027 warrants + 1,17,27,910 equity *191.85 each) With OFS portion:NA Excluding OFS portion: NA Net proceeds: INR 725.00 Crore Note: The proceeds credited to the Net Proceeds account stood at INR 700.07 Crore as on 30th June 2026, as part payment was received against warrants. Hence ICRA will be monitoring INR 700.07 Crore in Q1 FY2027. June 2026 3. Details of the arrangement made to ensure the monitoring of issue proceeds. Source of information, Comments of certifications considered Comments of the Monitoring the Issuer’s Particulars Reply by the Monitoring Agency Board of Agency for the Directors preparation of report -Peer-reviewed Auditor Certificate -Confirmation from Whether all utilization is as per management the disclosures in the Offer Yes No deviation observed - -Bank statement of the Document? Escrow account/corresponding bank account statements Whether shareholder approval has been obtained in case of Not As confirmed by the material deviations# from No comments - Applicable Issuer’s management expenditures disclosed in the Offer Document? Whether the means of finance for the disclosed objects of the No As confirmed by the No comments. - issue has changed? Issuer’s management Is there any major deviation observed over the earlier No No deviation observed. No comments - monitoring agency reports? Whether all Government/ statutory approvals related to As confirmed by the GPCB Approval Received Yes - the object(s) have been Issuer’s management obtained? Whether all arrangements pertaining to technical Not As confirmed by the As understood from the Issuer’s management assistance/ collaboration are in Applicable Issuer’s management operation? Are there any favorable events As understood from the Issuer’s improving the viability of these No As confirmed by the - management object(s)? Issuer’s management Are there any unfavorable As understood from the Issuer’s events affecting the viability of No As confirmed by the - management the object(s)? Issuer’s management Is there any other relevant The object working capital limit information that may materially As confirmed by the requirements of Windsor Yes - affect the decision making of the Issuer’s management Machines Limited and Global investors? CNC Private Limited have been June 2026 Source of information, Comments of certifications considered Comments of the Monitoring the Issuer’s Particulars Reply by the Monitoring Agency Board of Agency for the Directors preparation of report merged pursuant to the NCLT order dated March 19, 2026, approving the amalgamation of Global CNC Private Limited with Windsor Machines Limited, effective from the appointed date of April 1, 2025. June 2026 4. Details of the object(s) to be monitored. (i) Cost of object(s) Source of Comments of the Issuer’s Board of information, Directors Original certifications cost (as per Comments of the considered by Revised cost Particulars of S.N. Item Head the offer Monitoring Reason Proposed the Monitoring [Rs. Crore] firm document) Agency for cost financing Agency for the arrangements [Rs. Crore] revision option preparation of made report Resolution passed at EGM To fund the acquisition of the company 1 of Global CNC Private 344.00 Not applicable Not applicable - - - [Showing first 8,000 characters — download PDF for full document]