Monitoring Agency Report

August 10, 2026 To, To, Listing/Compliance Department Listing/Compliance Department BSE LTD National Stock Exchange of India Phiroze Jeejeebhoy Towers, Limited Dalal Street, “Exchange Plaza”, Plot No. C/1, Mumbai – 400001 G Block Bandra-Kurla Complex, Bandra (E), Mumbai – 400051 BSE CODE – 543998 NSE Symbol: VALIANTLAB Dear Sir/ Madam, Sub: Monitoring Agency Report for the quarter ended June 30, 2026 Pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 82(4) of the SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2018, please find enclosed herewith Monitoring Agency Report for the quarter ended June 30, 2026, issued by India Ratings and Research Private Limited in respect of utilisation of funds raised through Rights Issue of equity shares made by the Company vide its Letter of Offer dated July 15, 2025. The proceeds from Rights issue have been utilized appropriately for the objects mentioned in the offer document. The above-mentioned report has been duly reviewed by the Audit Committee and Board of Directors at their meeting(s) held on August 10, 2026. This intimation is also being uploaded on the Company’s website at www.valiantlabs.in We request you to take the same on records. Thanking You, Yours faithfully, For Valiant Laboratories Limited Akshay Gangurde Company Secretary & Compliance Officer Encl: As above www.valiantlabs.in | CIN : L24299MH2021PLC365904 Registered Office: 104, Udyog Kshetra, Mulund-Goregaon Link Road, Mulund (W), Mumbai - 400080. T: 022-49712001 / 49717220 /49717221| E: investor@valiantlabs.in Date:10thAugust2026 Valiant LaboratoriesLimited 104,Udyog Kshetra, Mulund Goregaon Link Road, Mulund West,Mumbai-400080 Subject: Monitoring Agency Report for the quarter ended 30thJune2026in relation to Rightsissue. Dear Sir, Pursuant to Regulation 82 (2) of SEBI (lssue of Capital and Disclosure Requirements) Regulations, 2018 09th July2025, please find enclosed herewith the Monitoring Agency Report, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds of Rightsissuefor the quarter ended June30, 2026. Request you to kindly take the same on records. Thanking You, For and on behalf of India Ratings & Research Private Limited Name: Shrikant Dev Designation: Company Secretary IndiaRatings & Research Private Limited A Fitch Group Company Wockhardt Towers, Level 4, West Wing, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 Tel: +91 22 4000 1700 Fax: +91 22 4000 1701 CIN/LLPIN: U67100MH1995FTC140049 www.indiaratings.co.in Report of the Monitoring Agency(MA) Name of the issuer: Valiant LaboratoriesLimited For quarter ended: 30thJune2026 Name of the Monitoring Agency: India Ratings & Research Private Limited (a) Deviation from the objects: No deviation from the objects. Based on the Management undertaking and as per the Statutory Auditor Certificate dated 07th August 2026issued by RamanSShah &Co, Chartered Accountants (FRN: 111919W) having 26033272YFZUYR1146 *and other documents provided to us, no deviation from the objects has been observed. *The reference to the Statutory Auditor Certificate anywhere in the MA report refers to the said Certificate. (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 there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity. 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 of Directors subsequent tothe 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 Signature: Name and designation of the Authorized Signatory: Shrikant Dev(Company Secretary) Date:10thAugust 2026. Page 1of 8 1) Issuer Details: Name of the issuer: Valiant Laboratories Limited Names of the promoters: Santosh Shantilal Vora Shantilal Shivji Vora Dhanvallabh Ventures LLP Industry/sector to which it belongs: Manufacturing of Chemicals 2) Issue Details: Issue Period: 28thJuly2025to 08thAugust2025 Type of issue (public/rights): Rights Issue Type of specified securities: 1,08,62,500rights issue equity shares FV INR10each @ INR 75per rights equity shares IPO Grading, if any: Not Applicable Issue size: INR 8,146.88Lakhs 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / Comments certifications considered by Comments of the of the Particulars Reply Monitoring Agency for Monitoring Agency Board of preparation of report Directors Management undertaking, Whether all utilization is as per Statutory Auditor Certificate, the disclosures in the Offer Yes No Comments None Letter of offer, Relevant Bank Document? Statements. Whether shareholder approval has been obtained in case of Management undertaking, material deviations from NA NA None Statutory AuditorCertificate. expenditures disclosed in the Offer Document? Whether the means of finance Management undertaking, for the disclosed objects of the No No Comments None Statutory AuditorCertificate. issue has changed? Is there any major deviation observed over the earlier NA NA No Comments None monitoring agency reports? Page 2of 8 Source of information / Comments certifications considered by Comments of the of the Particulars Reply Monitoring Agency for Monitoring Agency Board of preparation of report Directors Whether all Government/Statutory Management undertaking, Yes No Comments None approvals related to the Statutory Auditorcertificate. object(s) have been obtained? Whether all arrangements pertaining to technical Management undertaking, NA No Comments None assistance/collaboration are in Statutory Auditorcertificate. operation? Are there any favorable events Management undertaking, improving the viability of these No No Comments None Statutory Auditorcertificate. object(s)? Are there any unfavorable Management undertaking, events affecting the viability of No No Comments None Statutory Auditorcertificate. the object(s)? Is there any other relevant information that may materially Management undertaking, No No Comments None affect the decision making of Statutory Auditorcertificate. the investors? Page 3of 8 4) Details of object(s) to be monitored: i. Cost of object(s)- Source of information / Original Comments of the Board of Directors certifications cost considered by (as per the Monitoring Offer Comments Reason Particulars of Agency for Document) Revised of the of Proposed fi [Showing first 8,000 characters — download PDF for full document]