Statement of deviation(s) or variation(s) under Reg. 32

Ref: ISLL:CH:2026 Date: 10th August, 2026 The President The Vice President, Corporate Relationship Department Listing Compliance Department, BSE Limited National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor 25th Floor, Dalal Street, Plot No. C/2, G-Block, Mumbai 400 001 Bandra Kurla Complex, Bandra (E), Mumbai 400 051 BSE Scrip Code: 532305 NSE Symbol: INDSWFTLAB SUB: NIL STATEMENT ON DEVIATION OR VARIATION OF FUNDS RAISED THROUGH PREFERENTIAL ISSUE Dear Sir/Ma’am, Pursuant to the provisions of Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable provisions regarding "Format on Statement of Deviation or Variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement (QIP) etc.", We hereby confirm that there is no deviation or variation in the use of funds raised through Preferential Issue of Convertible Warrants. Accordingly, a Nil Statement of Deviation, duly reviewed by the Audit Committee of the Company, for the Quarter ended 30th June, 2026 is given in "Annexure A". Kindly take the same on your records. Thanking you, For IND-SWIFT LABORATORIES LTD. PARDEEP VERMA VP-CORPORATE AFFAIRS & COMPANY SECRETARY Annexure A Statement of Deviation/variation in utilization of funds under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 We hereby state that the preferential issue proceeds of the Company as utilized during the quarter ended 30.06.2026 for the objects of the issue are given hereunder and there was no deviation in utilization of funds from those stated in the letter of offer. Statement of Deviation or Variation in utilization of funds raised Name of listed entity : Ind-Swift Laboratories Limited Mode of Fund Raising : Preferential Issue of Convertible Warrants Date of Raising Funds : 30.08.2024 Amount Raised : Rs. 255.61* Crores out of the total issue size of Rs. 314.60 Crores Report filed for Quarter ended : 30.06.2026 Monitoring Agency : Applicable Monitoring Agency Name : CARE Ratings Limited Is there a Deviation / Variation in use of funds raised : No If yes, whether the same is pursuant to change in : NA terms of a contract or objects, which was approved by the shareholders If Yes, Date of shareholder Approval : NA Explanation for the Deviation / Variation : NA Comments of the Audit Committee after review : NA Comments of the auditors, if any : NA *Note: On 28th February, 2026, upon completion of the tenure of the warrants, the amount of ₹58.99 Crore has become non-receivable from the allottee SARAL INCORPORATED VCC SUB FUND 1, who failed to exercise its right to convert the warrants into equity within stipulated time. Accordingly, no further amount shall be received by the Company against these warrants. Consequently, the monitoring requirement in respect of the overall preferential issue proceeds stands revised to ₹255.61 Crore to the extent of the actual realizable proceeds received by the Company. Objects for which funds have been raised and where there has been a deviation, in the following table: Original Modified Original Modified Utilization Funds Amount of Remarks if Object Object, if Allocation allocation, during the Utilized as at Deviation/Variation any any (in Crores) if any quarter 30.06.2026 for the quarter (in crores) according to applicable object Expansion NA 150.00 NIL 19.82 109.77 NIL Out of of Business total of the receipt of Company or funds, a Wholly sum of Rs. Owned 251.84 Subsidiaries Crores has Investment NA 50.00 NIL 0.00 27.47 NIL been in existing utilized or to be towards acquired the objects Subsidiaries of the Working NA 39.60 NIL 0.00 39.60 NIL issue. Capital for existing business General NA 75.00 NIL 0.00 75.00 NIL Corporate Purpose Total 314.60 19.82 251.84 Deviation or Variation could mean: (a) Deviation in the objects or purposes for which the funds have been raised (b) Deviation in the amount of funds actually utilized as against what was originally disclosed or (c) Change in terms of a contract referred to in the fund-raising document i.e. prospectus, letter of offer, etc.