Monitoring Agency Report

Ref: ISLL:CH:2026 Date: 12th 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 SUBJECT: MONITORING AGENCY REPORT FOR THE QUARTER ENDED 30TH JUNE, 2026 FOR FUNDS RAISED THROUGH PREFERENTIAL ISSUE Dear Sir/Ma’am, Pursuant to Regulation 162A (4) of Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 read with Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements), 2015, we are enclosing herewith Monitoring Agency Report as issued by Care Ratings Limited, Monitoring Agency, for the quarter ended 30.06.2026 with respect to utilisation of proceeds from the preferential issue. The aforesaid report has been reviewed by the Audit Committee and taken on record by the Board. Kindly take note of the same and oblige. Thanking you For IND-SWIFT LABORATORIES LTD. PARDEEP VERMA VP-CORPORATE AFFAIRS & COMPANY SECRETARY Encl: a/a No. CARE/NRO/GEN/2026-27/1103 The Board of Directors Ind-Swift Laboratories Limited SCO 850, Shivalik Enclave, NAC, Manimajra, Chandigarh, Chandigarh - 160101 August 12, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Preferential Issue of Ind-Swift Laboratories Limited (“the Company”) We write in our capacity of Monitoring Agency for the Preferential Issue for the amount aggregating to Rs. 314.60 crore of the Company and refer to our duties cast under Regulation 162A 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 August 12, 2024. Request you to kindly take the same on records. Thanking you, Yours faithfully, Sandeep Aggarwal Associate Director sandeep.aggarwal@careedge.in CARE Ratings Limited 9th Floor, C-001/A2, Berger Towers, Sector-16B, 4th Floor, Godrej Coliseum, Somaiya Hospital Noida, Gautam Budh Nagar, Uttar Pradesh – 201 301 Road, Off Eastern Express Highway, Sion Phone: +91-120-445 2000 (East), Mumbai - 400 022 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in CIN-L67190MH1993PLC071691 Report of the Monitoring Agency Name of the issuer: Ind-Swift Laboratories Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: No (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 “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: Name and designation of the Authorized Signatory: Sandeep Aggarwal Designation of Authorized person/Signing Authority: Associate Director CARE Ratings Limited 9th Floor, C-001/A2, Berger Towers, Sector-16B, 4th Floor, Godrej Coliseum, Somaiya Hospital Noida, Gautam Budh Nagar, Uttar Pradesh – 201 301 Road, Off Eastern Express Highway, Sion Phone: +91-120-445 2000 (East), Mumbai - 400 022 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in CIN-L67190MH1993PLC071691 1) Issuer Details: Name of the issuer : Ind-Swift Laboratories Limited Name of the promoter : Mr. Navrattan Munjal Industry/sector to which it belongs : Pharmaceuticals & Biotechnology - Pharmaceuticals 2) Issue Details Issue Period : 18 months from date of allotment (Date of allotment: August 30, 2024) Type of issue (public/rights) : Preferential Issue Type of specified securities : Fully convertible warrants IPO Grading, if any : - Issue size (in crore) : Rs. 314.60 (CARE Ratings Limited is monitoring the gross proceeds pertaining to fresh issue under Preferential Issue) CARE Ratings Limited 9th Floor, C-001/A2, Berger Towers, Sector-16B, 4th Floor, Godrej Coliseum, Somaiya Hospital Noida, Gautam Budh Nagar, Uttar Pradesh – 201 301 Road, Off Eastern Express Highway, Sion (East), Phone: +91-120-445 2000 Mumbai - 400 022 Phone: +91-22-6754 3456 Email: care@careedge.in • www.careedge.in CIN-L67190MH1993PLC071691 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / certifications Comments of the Comments of the Particulars Reply considered by Monitoring Agency Board of Directors Monitoring Agency for preparation of report ^During Q1FY27, the company in one instance, The transfer to current account was made transferred Rs.0.24 crore from the preferential issue as these were forex transactions, which account to its current account maintained with ICICI CA Certificate*, could be done through Authorised Dealer Whether all utilization is as per the Bank Limited before making payment to the vendor. Yes^ Bank Statements, (AD) bank only. The ICICI Bank being the disclosures in the Offer Document? While we have reviewed the bank statements, the Management Certificate AD bank for the said transaction, so the commingling of funds (mixing proceeds with other funds were transferred first to ICICI bank cash flows) has limited our ability to directly ascertain and then to the beneficiary foreign entity. the end utilization of the issue proceeds. Whether shareholder approval has been obtained in case of material deviations# No material Management Certificate Not applicable No comments from expenditures disclosed in the Offer deviation Document? Whether the means of finance for the disclosed objects of the issue have No Management Certificate Not applicable No comments changed? Is there any major deviation observed No, there is no major deviation observed over the over the earlier monitoring agency No Management Certificate No comments earlier monitoring agency reports. reports? As per management certificate, all the relevant approvals required as mentioned in the placement Whether all Gove [Showing first 8,000 characters — download PDF for full document]