Monitoring Agency Report

Date: 10 August, 2026 To, To Corporate Relations Department Corporate Relations Department BSE Limited National Stock Exchange of India Limited 2nd floor, P.J. Tower, Exchange Plaza, Plot No. C/1, G-Block Dalal Street, Bandra Kurla Complex, Bandra (E), Mumbai – 400 001 Mumbai- 400 051 Company Code: 532888 C o m p a n y C o d e : A S I A N T I L E S Dear Sir/ Madam, Subject: Report of the Monitoring Agency Pursuant to Regulation 41(4) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Monitoring Agency Report dated 10 August, 2026 in respect of utilization of proceeds of Rights Issue for the quarter ended 30 June, 2026 issued by M/s. ICRA Limited, Monitoring Agency. You are requested to kindly take on your record. Thanking You. Yours truly, For Asian Granito India Limited Dhruti Trivedi Company Secretary and Compliance Officer Encl.: as above Date: August 10, 2026 Mr. Kamleshkumar B Patel. Chairman and Managing Director Asian Granito India Limited 202, Dev Arc,Opp Iskcon Temple. Sarkhej Gandhinagar Highway, Ahmedabad Gujarat – 380015 Dear Sir, Re: Final Monitoring Agency report of Asian Granito India Limited for Q1 FY2027 Please refer to agreement dated April 06, 2022, appointing ICRA Limited as the Monitoring Agency (MA) for Asian Granito India Limited’s Right Issue. After due consideration, ICRA has prepared the attached final Monitoring Agency report as per SEBI (Issue of Capital and Disclosure Requirements) Regulations for Q1 FY2027. Please note that the Monitoring Agency report does not constitute a commentary on the quality of the objects of the issue, appropriateness or reasonableness of costs or spending by Asian Granito India Limited against any objects / heads or assurance on outcome of such spending. We thank you for your kind cooperation extended during the course of Q1 FY2027. Should you require any clarification, please do not hesitate to get in touch with us. We look forward to your communication and assure you of our best services. With kind regards For ICRA Limited Parul Goyal Narang Vice President & Head- Process Excellence parul.goyal@icraindia.com ICRA Limited Registered Office: B-710, Statesman House, 148, Barakhamba Road, New Delhi 110001. Tel. +91-11-23357940-41 Building No. 8, 2nd floor, Tower A, DLF Cyber City, Phase II, Gurugram-122002 www.icra.in info@icraindia.com +91-93547-38909 +0124-4545300 CIN: L74999DL1991PLC042749 Sensitivity Label : Restricted June 2026 MONITORING AGENCY REPORT Name of the Issuer: Asian Granito India Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency (MA): ICRA Limited (a) Deviation from the objects of the issue: No material Deviation- Utilisation different from the objects stated in the offer document but in line with change of objects approved by shareholders' resolution (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: Parul Goyal Narang Vice President & Head- Process Excellence Analyst: Adrita Sadhukhan Quality Analyst: Parul Narang Sensitivity Label : Public June 2026 1. Issuer Details Name of the Issuer: Asian Granito India Limited Name(s) of the promoters: Promoters Kamleshkumar Bhagubhai Patel Mukeshbhai Jivabhai Patel Rameshbhai Bhikhabhai Patel Pankaj M Patel Kanubhai Bhikhabhai Patel Girish N Patel Bhaveshkumar Vinodbhai Patel Source: BSE Industry/ sector to which it belongs: - Consumer Discretionary 2. Issue Details Issue Period: Opening date- April 25, 2022 Closing date- May 10, 2022 Type of Issue: Rights Issue Type of specified securities: Equity shares IPO Grading, if any: No credit rating agency registered with SEBI appointed for grading the offer Issue Size (Rs. Crore): INR 440.9602 Crore With OFS portion: NA Excluding OFS portion: Not applicable. Net proceeds: INR 422.1746 Crore (Excluding Issue Related Expense) Sensitivity Label : Public June 2026 3. Details of the arrangement made to ensure the monitoring of issue proceeds Source of information, Comments certifications of the Comments of the Particulars Reply considered by the Issuer’s Monitoring Agency Monitoring Agency Board of for the preparation Directors of report -Certification from The special resolution has Statutory Auditors been passed to consider Whether all utilization is as -Confirmation from and approve alteration in per the disclosures in the Yes* management - objects for utilization of Offer Document? -Bank statement of funds. Also, shareholder the proceeds account approval copy is verified. -Postal Ballot Notice Whether shareholder Shareholder approval has approval has been obtained -As confirmed by the been obtained and in case of material Yes Issuer’s management approved for alteration in - deviations# from -Postal Ballot Notice objects for utilization of expenditures disclosed in funds. the Offer Document? Whether the means of finance for the disclosed As confirmed by the No No comments - objects of the issue has Issuer’s management changed? Is there any major deviation observed over No deviation No No comments - the earlier monitoring observed. agency reports? In case of Greenfield Project in Future Ceramic Whether all Government/ Private Limited and AGL Sanitaryware Private statutory approvals related As confirmed by the Yes Limited all necessary - to the object(s) have been Issuer’s management Government/statutory obtained? approvals for starting commercial production is obtained. Technical assistance and Whether all arrangements collaboration at the time of pertaining to technical As confirmed by the Yes installation of plant and - assistance/ collaboration Issuer’s management machinery is obtained are in operation? Are there any favorable As confirmed by the As understood from the events improving the No - Issuer’s management Issuer’s management viability of these object(s)? Sensitivity Label : Public June 2026 Source of information, Comments certifications of the Com [Showing first 8,000 characters — download PDF for full document]