Monitoring Agency Report

August 13, 2026 To, To, The Manager (Listing) The Manager (Listing) BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (East), Mumbai - 400 051 Scrip Code: 533581 Scrip Symbol: PGEL Sub: Monitoring Agency Report for the quarter ended June 30, 2026. Dear Sir/Madam, Pursuant to the Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 173A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find attached Monitoring Agency Report for the quarter ended June 30, 2026, issued by CRISIL Ratings Limited, Monitoring Agency towards utilisation of the proceeds raised through Qualified Institutions Placement. This is for your information and record please. Thanking you, For PG Electroplast Limited Deepesh Kedia Company Secretary Monitoring Agency Report PG Electroplast Limited for the quarter ended June 30, 2026 CRL/MAR/PGEPPL/2026-27/1861 August 13, 2026 PG Electroplast Limited DTJ-209, 2nd Floor, DLF Tower B-Jasola, Plot 11, Non-Hierarchical Commercial Centre, Jasola, New Delhi – 110 025 Dear Sir, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Qualified Institutional Placement (“QIP”) of PG Electroplast Limited (“the Company”) Pursuant to Regulation 173A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated December 04, 2024, enclosed herewith the Monitoring Agency Report, issued by Crisil Ratings Limited, Monitoring Agency, as per Schedule XI of the SEBI ICDR Regulations towards utilization of proceeds of QIP for the quarter ended June 30, 2026. Request you to kindly take the same on records. Thanking you, For and on behalf of Crisil Ratings Limited Shounak Chakravarty Director, Ratings (LCG) Report of the Monitoring Agency (MA) Name of the issuer: PG Electroplast Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (a) Deviation from the objects: Not applicable (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: Name and designation of the Authorized Signatory: Shounak Chakravarty Designation of Authorized person/Signing Authority: Director, Ratings (LCG) 1) Issuer Details: Name of the issuer: PG Electroplast Limited Names of the promoter: a. Mr. Vishal Gupta b. Mr. Vikas Gupta c. Mr. Anurag Gupta Industry/sector to which it belongs: Consumer Electronics 2) Issue Details Issue Period: December 04, 2024 to December 09, 2024 Type of issue (public/rights): Qualified Institutional Placement (QIP) Type of specified securities: Equity Shares IPO Grading, if any: NA Issue size: Rs 1,500.00 crore (Net proceeds: Rs 1,477.56 crore) * *Crisil Ratings shall be monitoring the net proceeds amount. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information/ Comments certifications Comments of the of the Particulars Reply considered by Monitoring Agency Board of Monitoring Agency Directors for preparation of report Management undertaking, Peer- Proceeds were utilized reviewed ICA towards capital certificate^, Placement Whether all utilization is as per the expenditure, No Yes document dated disclosures in the Offer Document? repayment of loans and Comments December 09, 2024 general corporate (hereinafter referred to purposes as “Offer document”), Bank Statements Source of information/ Comments certifications Comments of the of the Particulars Reply considered by Monitoring Agency Board of Monitoring Agency Directors for preparation of report Whether shareholder approval has been obtained in case of material No NA No Comments deviations from expenditures Comments disclosed in the Offer Document? Whether the means of finance for the disclosed objects of the issue has No No Comments Comments changed? Is there any major deviation observed over the earlier monitoring agency No No Comments Comments reports? Whether all Government/statutory approvals related to the object(s) have NA No Comments Comments been obtained? Management Whether all arrangements pertaining undertaking, Peer- to technical assistance/collaboration NA reviewed ICA No Comments Comments are in operation? certificate Are there any favorable events improving the viability of these No No Comments Comments object(s)? Are there any unfavorable events No No No Comments affecting the viability of the object(s)? Comments Is there any other relevant information that may materially affect No No Comments Comments the decision making of the investors? NA represents Not Applicable ^Certificate dated August 08, 2026, issued by M/s M. S. Barmecha & Co., Chartered Accountants (Firm Registration Number: 101029W), Peer-reviewed Independent Chartered Accountant. 4) Details of object(s) to be monitored: i. Cost of the object(s): Source of Original Comments of the Board of Directors information/ cost Revised Comments Particulars certification (as per the Sr. Cost of the Reason of Proposed of firm Item considered by Offer No. (Rs in Monitoring Cost financing arrange- Head MA for Document) crore) agency revision option ments preparation of (Rs in made report crore) Investment in wholly owned Subsidiary, PG No No No 1 Technoplast for 644.04 NA No revision Comments Comments Comments funding its working capital requirements Investment in wholly owned step-down Subsidiary, Next 2 - - - - - - Generation Management Manufacturers undertaking, Private Limited Peer-reviewed for: ICA Funding its capital certificate, expenditure Offer requirements for document expansion of its manufacturing and warehousing/ storage unit by constructing a No No No 2a 114.11 NA No revision new building at Comments Comments Comments Plot no F-3, Supa Parner MIDC Industrial Area, Taluka Parner, Dist- Ahmednagar – 411301 (“Supa Unit”) Funding its capital expenditure requirements for expansion of it [Showing first 8,000 characters — download PDF for full document]