Monitoring Agency Report

Concord Enviro Systems Limited 101, HDIL Towers, Anant Kanekar Marg, Bandra (E), Mumbai – 400 051, India T +91 22 6704 9000 F +91 22 6704 9010 E cs@concordenviro.in W www.concordenviro.in CIN L45209MH1999PLC120599 Date: 13.08.2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Bandra Kurla Phiroze Jeejeebhoy Towers, Dalal Street, Complex Bandra (E), Mumbai – 400 051. Mumbai – 400 001. Symbol: CEWATER Scrip Code: 544315 Subject: Monitoring Agency Report for the quarter ended June 30, 2026. Dear Sir/ Madam, Pursuant to Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), read with Regulation 41 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, we hereby submit the Monitoring Agency Report issued by ICRA Limited, Monitoring Agency, for the quarter ended June 30, 2026, in respect of utilization of proceeds of the Initial Public Offer of the Company. Kindly take the same on record. Thanking you, For Concord Enviro Systems Limited Prerak Goel Executive Director DIN: 00348563 Place: Mumbai Encl.: As above June 2026 MONITORING AGENCY REPORT Name of the Issuer: Concord Enviro Systems Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency (MA): ICRA Limited (a) Deviation from the objects of the issue: No material deviation - the utilization of the issuance proceeds is in line with the objects of the issue. (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: Mr. Suprio Banerjee Vice President & Co-Group Head Analyst: Subhechha Banerjee Quality Analyst: Parul Narang Sensitivity Label : Confidential June 2026 1. Issuer Details Name of the Issuer: Concord Enviro Systems Limited Name(s) of the promoters: Promoters Prayas Kamlesh Goel Prerak Goel Source: BSE Industry/ sector to which it belongs: - Waste Water Treatment 2. Issue Details Issue Period: Opening date - December 19, 2024 Closing date - December 23, 2024 Type of Issue: Initial Public Offer Type of specified securities: Equity shares IPO Grading, if any: No credit rating agency registered with SEBI has been appointed in respect of obtaining grading for the offer. Issue Size (Rs. Crore): 500.326 With OFS portion: INR 500.326 Crore Excluding OFS portion: INR 175.000 Crore. Net proceeds as per Prospectus: INR 162.892 Crore (Excluding Issue Related Expenses) Actual Net proceeds: INR 162.076 Crore* *Revision in Net proceeds is on account of actual offer related expenditure being higher than estimated by INR 0.816 Crore Note: ICRA has monitored INR 175.000 crore in Q1 FY2027 Sensitivity Label : Confidential June 2026 3. Details of the arrangement made to ensure the monitoring of issue proceeds. Source of information, Comments of certifications considered by Comments of the the Issuer’s Particulars Reply the Monitoring Agency for Monitoring Agency Board of the preparation of report Directors -Peer reviewed CA Certificate Revision in Net proceeds is -Confirmation from Whether all utilization is as per on account of actual offer management the disclosures in the Offer Yes related expenditure being -Bank statement of the Document? higher than estimated by proceeds account/ INR 0.816 Crore corresponding accounts Whether shareholder approval has been obtained in case of Not As confirmed by the Issuer’s material deviations# from No comments Applicable management expenditures disclosed in the Offer Document? Whether the means of finance As confirmed by the Issuer’s for the disclosed objects of the No No comments management issue has changed? Is there any major deviation observed over the earlier No No deviation observed. No comments monitoring agency reports? Whether all Government/ Necessary Government approvals will be obtained statutory approvals related to Not As confirmed by the Issuer’s as per the objects schedule the object(s) have been Applicable management mentioned in the obtained? prospectus. Whether all arrangements pertaining to technical Not As confirmed by the Issuer’s No comments assistance/ collaboration are in Applicable management operation? Are there any favorable events As confirmed by the Issuer’s As understood from the improving the viability of these No management Issuer’s management object(s)? Are there any unfavorable As confirmed by the Issuer’s As understood from the events affecting the viability of No management Issuer’s management the object(s)? Is there any other relevant information that may As confirmed by the Issuer’s As understood from the materially affect the decision management Issuer’s management making of the investors? # Where material deviation is defined to mean: (a) Deviation in the objects or purposes for which the funds had been raised. (b) Deviation in the amount of funds utilized by more than 10% of the amount specified in the offer document. Sensitivity Label : Confidential June 2026 4. Details of the object(s) to be monitored. (i) Cost of object(s) Source of Comments of the Issuer’s Board of information, Original cost Directors certifications (as per the Revised Particular . Comments of the Item Head considered by the offer cost Reason Proposed s of firm N Monitoring Agency Monitoring Agency document) [Rs. Crore] for cost financing arrangem for the preparation [Rs. Crore] revision option ents of report made Investment in wholly owned Subsidiary, CEF for financing its capital expenditure requirements for the greenfield project to 1 develop an assembly unit to assemble Prospectus 25.000 25.000 No Comments systems and plants for treatment of water, waste water and related membrane modules Investment in wholly owned Subsidiary, Rochem Separation Systems (India) Private Limited (“RSSPL”) for financing its capital 2 Prospectus 10.505 10.505 No Comments expenditure requirements for the brown field project to expand the manufacturing facilities, storage and supporting activities Funding capital expenditure requirements 3 of Company fo [Showing first 8,000 characters — download PDF for full document]