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

W.S. Industries (India) Limited 10th August 2026 WSI/SECTL/SE/26-27/33 M/s.BSE Ltd. M/s.National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers, 25th Floor, Regd. Office: “Exchange Plaza” Dalal Street, Mumbai – 400 001. Bandra (East), Mumbai -400 051. Scrip Code: 504220. Symbol: WSI Dear Sir / Madam, Sub: Statement of deviation/variation in utilization of funds as on 30.06.2026 - Regulation 32 of SEBI (LODR) Regulations, 2015 In accordance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith the Statement(s) of deviation/variation in utilization of funds for the quarter ended 30th June, 2026, in respect of the following fund-raisings activities: 1. Preferential Issue of Equity Shares (Allotted on 17th July 2025); 2. Preferential Issue of Convertible Warrants (Allotted on 29th October 2025); 3. Preferential Issue of Equity Shares (Allotted on 2nd January 2026); 4. Preferential Issue of Convertible Warrants (Allotted on 2nd January 2026); and 5. Preferential Issue of Equity Shares (Allotted on 4th March 2026) The aforesaid statement(s) have been reviewed by the Audit Committee and thereafter taken on record by the Board of Directors of the Company at their respective meetings held on 10th August 2026. You are requested to take the above information on record and acknowledge. Thanking You, Yours faithfully, For W.S. INDUSTRIES (INDIA) LIMITED T R Sivaraman Chief Financial Officer Registered Office : 3rd Floor, New No.48, Old No. 21, Savidhaanu Building, Casa Major Road, Egmore, Chennai - 600 008, Tamil Nadu, India. Contact : (91) - 89258 02400 CIN : L42909TN1961PLC004568 Dept E-mail : sectl@wsigroup.in Website : wsindustries.in Statement of Deviation / Variation in utilisation of funds raised Name of listed entity W.S. Industries (India) Limited Mode of Fund Raising Preferential Issue Date of Raising Funds (Allotment) 17.07.2025 Amount Raised Rs.6.00 Crores Report filed for Quarter ended 30.06.2026 Monitoring Agency Not Applicable Monitoring Agency Name, if applicable Is there a Deviation / Variation in use of funds raised No If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders If Yes, Date of shareholder Approval Explanation for the Deviation / Variation Comments of the Audit Committee after review None Comments of the auditors, if any None Objects for which funds have been raised and where there has been a deviation, in the following table (Rs. in crores) Original Modified Object, if any Original Modified Funds Amount of Remarks if any Object * Allocation allocation, if Utilised Deviation/Variation for any the quarter according to applicable object None 4.72 None 4.50 0.00 None (i) Investment in real estate for setting up warehousing, logistics & industrial park projects, light engineering, electronic factories, new acquisitions, either by the Company or through its one or more subsidiary(ies) (ii) Deployment towards working capital None 0.63 None 0.60 0.00 None (iii) General Corporate Purposes None 0.65 None 0.60 0.00 None Total 6.00 5.70 (a) Deviation in the objects or purposes for which the funds have been raised or (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 Name of Signatory: T R Sivaraman Designation: Chief Financial Officer * An amount of Rs.5.70 Crores was utilised during the quarter ended 30.09.2025. The original timeline for utilization of funds, as approved by the shareholders at the Extra-Ordinary General Meeting held on 2nd May 2024, was upto 31st October 2025. Further, in terms of the SEBI (ICDR) Regulations, 2018, the Convertible Warrants were required to be converted into equity shares within a period of 18 months from the date of allotment, and accordingly, the last date for conversion being 4th March 2026. Prior to the expiry of the said conversion period, the company had proposed extension of the timeline for utilisation of the said funds up to 31st October 2027, and the approval of shareholders for the same was duly obtained at the 3rd Extra-Ordinary General Meeting of FY 2025-26 held on 20th February 2026. Statement of Deviation / Variation in utilisation of funds raised Name of listed entity W.S. Industries (India) Limited Mode of Fund Raising Preferential Issue of Convertible Warrants Date of Raising Funds (Allotment) 29.10.2025 Amount Raised Rs.56.25 Crores (25% upfront consideration) Report filed for Quarter ended 30.06.2026 Monitoring Agency Yes Monitoring Agency Name, if applicable M/s.India Ratings and Research Pvt. Ltd Is there a Deviation / Variation in use of funds raised Yes If yes, whether the same is pursuant to change in terms of a Yes contract or objects, which was approved by the shareholders If Yes, Date of shareholder Approval 12.12.2025 Explanation for the Deviation / Variation The Original objects of the issue were approved by the shareholders at the 1st Extra- Ordinary General Meeting of FY 2025-26 held on 25th July 2025. Pursuant thereto, the Company allotted 2,25,00,000 convertible warrants at Rs. 100/- per warrant on 29th October 2025, against which 25% upfront consideration amounting to ₹56.25 crore was received. Subsequently, the shareholders, at the 2nd Extra- Ordinary General Meeting of FY 2025–26 held on 12th December 2025, approved a variation in the object-wise utilisation of the funds so raised. Comments of the Audit Committee after review None Comments of the auditors, if any None Objects for which funds have been raised and where there has been a deviation, in the following table (Rs. in crores) Original Object #* Modified Object, if any Original Modified Funds Amount of Remarks if any Allocation allocation, if Utilised Deviation/Variation for any the quarter according to applicable object Acquisition and Development of Land, including Acquisition and development of 54.11 40.00 0.00 None Associated Incidental Cost / Expenses. land, including Associated, 8.29 incidental Costs Working Capital Requirements. $ Working Capital Requirements 6.25 4.00 .02 0.00 None General Corporate Purposes $ General Corporate Purposes 3.75 3.82 0.00 None Redemption of Non-Convertible Debentures Repayment of outstanding 4.64 8.43 0.00 None (NCDs), in part, exclusively for principle alone not Security Deposits intended to pay interest portion Total 68.75 56.25 8.31 (a) Deviation in the objects or purposes for which the funds have been raised or (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 Name of Signatory: T R Sivaraman Designation: Chief Financial Officer # The original objects of the issue were approved by the shareholders at the 1st Extra-Ordinary General Meeting of FY 2025–26 held on 25th July 2025. Pursuant thereto, the Company allotted 2,25,00,000 convertible warrants at Rs. 100/- per warrant on 29th October 2025, against which 25% upfront consideration amounting to ₹56.25 crore was received. Subsequently, the shareholders, at the 2nd Extra-Ordinary General Meeting of FY 2025–26 held on 12th December 2025, approved a variation in the object-wise utilisation of the funds so raised. *An amount of Rs.42.31Crores was utilised during the previous quarters ended 31.12.2025 and 31.03.2026 as detailed below: (i) Rs.29.20 Crores towards Acquisition and development of land, including Associated, incidental Costs. (ii) Rs.2.44 Crores towards Working Capital Requirements (iii) Rs.6.85 Crores towards Repayment of Outstanding Security Deposits. (iv) Rs.3.82 Crores towards General Corporate Purposes. Statement of Deviation / Variation in utilisation of funds raised Name of listed entity W.S. Industries (India) Limited Mode of Fund Raising Preferential Is [Showing first 8,000 characters — download PDF for full document]