Report of Monitoring Agency for the Quarter ended June 30, 2026.

August 10, 2026 To, To, BSE Limited National Stock Exchange of India Phiroze Jeejeebhoy Towers, Limited Dalal Street, Mumbai – 400001 Exchange Plaza, 5th Floor BSE Symbol: INDOFARM Plot No. C/1, “G” Block BSE Scrip Code: 544328 Bandra-Kurla Complex Bandra (E), Mumbai – 400 051 NSE Symbol: INDOFARM Dear Sir/Madam, Subject: Report of Monitoring Agency for the 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 read with Regulation 41(4) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed herewith Monitoring Agency Report issued in respect of the utilization of the proceeds of the Initial Public Offer (“IPO”) of the Company for the quarter ended June 30, 2026, by Infomerics Valuation and Rating Limited, the Monitoring Agency. The same is also being made available on the website of the Company at www.indofarm.in. Kindly take the same on record. Thanking you, Yours faithfully, For Indo Farm Equipment Limited Navpreet Kaur Company Secretary & Compliance Officer M. No: F8353 Encl: As above Monitoring Agency Report for Indo Farm Equipment Limited for the quarter ended June 30, 2026 Monitoring Agency Report August 10 , 2026 Indo Farm Equipment Limited SCO -859 N.A.C Manimajra Kalka Road Chandigarh - 160101 Dear Sir, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Initial Public Offer (“IPO”) of Indo Farm equipment Limited (“The Company”) We write in our capacity of Monitoring Agency for the Initial Public Offering (IPO) for the amount aggregating to Rs.168.06 crore of the Company and refer to our duties cast under 41 of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations. In this connection, we are enclosing the Monitoring Agency Report for the quarter ended June 30, 2026, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated September 18, 2024. Request you to kindly take the same on records. Thanking you, For and on behalf of Infomerics Valuation and Rating Limited Manav Mahajan (Senior Director - Ratings) Manav.Mahajan@infomerics.com Report of the Monitoring Agency Name of the Issuer: Indo Farm Equipment Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: Infomerics Valuation and Rating Limited (a) Deviation from the objects: Nil (b) Range of Deviation: Nil Indicate range of percentage deviation from the amount of issue proceeds earmarked for objects. For example, up to 10%, 10 – 25%, 25-50%, 50-75%, 75-100%, not ascertainable etc. * Range of Deviation may be computed by taking weighted average of financial deviation of each object in the ratio of issue proceeds allocated for it. Non-financial deviation may be indicated separately by way of notes. 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 Monitoring Agency (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 declare that we do not have any direct / indirect interest in or relationship with the issuer/promoters/directors/management and also confirm that we do not perceive any conflict of interest in such relationship / interest while monitoring and reporting the utilization of issue proceeds by the issuer. We further declare that this report provides true and fair view of the utilization of issue proceeds. Signature: Name of the Authorized Person/Signing Authority: Manav Mahajan Designation of Authorized person/Signing Authority: Senior Director - Ratings Seal of the Monitoring Agency: Date: August 10, 2026 1) Issuer Details: Name of the issuer: Indo Farm Equipment Limited Names of the promoters of the issuer: Shri Ranbir Singh Khadwalia Industry/sector to which it belongs: The company is a Manufacturer of Tractor and Pick & Carry Cranes 2) Issue Details: Issue Period: Dec 31, 2024 – January 02, 2025 Type of issue (public/rights): Initial Public Offering Type of specified securities: Equity Shares Grading: NA Issue size (Rs in Crores): Fresh Issuance of Rs. 184.90 crores (Note No. 1) Note 1 Particulars Amount as per the Prospectus (Rs. In Crores) Total proceeds received from IPO 184.90 Less: Details of expenses incurred related to IPO issue 16.84 Net Proceeds available for utilisation 168.06* *Infomerics Ratings shall be monitoring the Net proceeds. The company had offered 86,00,000 Equity Shares under the fresh issue, at Rs. 215 per share aggregating to Rs 184.90 crore. The issue was fully Subscribed, and the company has allotted same number of Equity Shares to the applicants. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Particulars Reply Source of information / Comments of Monitoring Comments of certifications considered by Agency Board of Monitoring Agency for Directors preparation of report Whether all the utilization is as per disclosure in Yes, the utilization Chartered Accountant The net proceeds of the issue No Comment Offer has been made as certificate^, Prospectus, Bank are Rs.168.06 crore out of Received Document? per Offer Statements, Management which Rs. 116.78 crore was Document. Undertaking spent till year ended March 31, 2026 & Rs. 6.49 Crore spent during quarter ended June 30, 2026. Whether Shareholder approval is obtained in case There are no Not applicable Not applicable No Comment of material deviations from expenditures deviations from the Received disclosed in Offer expenditures Document? disclosed in the Offer Document. Hence no approval is required Whether means of finance for disclosed objects of There is no change Not applicable No No Comment the Issue has changed? in the means of Received finance for disclosed objects Any major deviation observed over the earlier No Last Monitoring agency Report No Deviation No Comment monitoring agency reports? dated May 13, 2026 Received Whether all Government / Statutory approvals Yes Listing approval from BSE & No Comments No Comment related to the object(s) obtained? NSE Received Whether all arrangements pertaining to technical Not Applicable Not applicable Not Applicable No Comment assistance/collaboration in operation? Received Any favourable events improving object(s) There are no Not applicable Nil No Comment viability events affecting Received the viability of these objects. Any unfavourable events affecting object(s) There are no Not applicable Nil No Comment viability events affecting Received the viability of these objects. Any other relevant information that may There is no Not applicable Nil No Comment materially affect the decision making of the relevant Received investors information that may affect the decision making of the investor The above details are verified by Deepak Jindal & Co. Chartered Accountants statutory auditor of t [Showing first 8,000 characters — download PDF for full document]