Monitoring Agency Report

OrchidPharm~~ -- A DhanukaGroup Company ---------------------------------- August 14, 2026 National Stock Exchange of India Limited, BSE Limited Exchange Plaza, Bandra Kurla Complex Phiroze Jeejeebhoy Towers, Bandra (E), Mumbai-400051 Dalal Street, Fort, Mumbai-400001 Symbol: ORCHPHARMA Scrip Code: 524372 Sub: Monitoring Agency Report for the Ouarter-I of Financial Year 2026-27, ended on June 30, 2026- Orchid Pharma Limited ("the Company") Dear Sir/Madam, Pursuant to the captioned subject and subject to the provisions of Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 41(4) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, please find enclosed herewith the Monitoring Agency Report for Quarter-I of Financial Year 2026-27, ended on June 30, 2026, issued by M/s. Care Ratings Limited, Monitoring Agency of the Company, in respect of utilization of proceeds raised through Qualified Institutions Placement. You are requested to take the above intimation on record. Encl. as above +91-44-27444471/72/73 corporate@orchidpharma.com orchidpharma.com CIN: L24222TN1992PLC022994 Registered Office: Corporate Office: Orchid Pharma Limited 15th Floor, Tower 1, DLF Corporate Greens, Sector 74A, Plot Nos. 121-128, 128A-133, 138-151, 159-164, SIDCO Industrial Estate, Gurugram - 122004, Haryana, India Alathur, Chengalpattu Dist - 603110, Tamil Nadu, India. No. XX No. CARE/CRO/GEN/2026-27/1012 The Board of Directors Orchid Pharma Limited Plot Nos.121-128,128A-133,138-151,159-164, SIDCO Industrial Estate, Alathur, Kanchipuram Tamil Nadu 603110 Date: August 07, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Qualified Institutional Placement (QIP) of Orchid Pharma Limited (“the Company”) We write in our capacity of Monitoring Agency for the Qualified Institutional Placement (QIP) for the amount aggregating to Rs. 400 crores of the Company and refer to our duties cast under 173A 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 June 23, 2023. Request you to kindly take the same on records. Thanking you, Yours faithfully, Ratheesh Kumar Associate Director Ratheesh.Kumar@careedge.in Report of the Monitoring Agency Name of the issuer: Orchid Pharma 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: Nil 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: Ratheesh Kumar Associate Director Ratheesh.Kumar@careedge.in 1) Issuer Details: Name of the issuer : Orchid Pharma Limited Name of the promoter : Dhanuka Laboratories Limited Industry/sector to which it belongs : Pharmaceuticals 2) Issue Details Issue Period : June 22, 2023, to June 27, 2023 Type of issue (public/rights) : QIP Type of specified securities : Equity Shares IPO Grading, if any : Not applicable Issue size (in crore) : Rs. 400 crores 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information / Comments of certifications considered Comments of the the Particulars Reply by Monitoring Agency for Monitoring Agency Board of preparation of report Directors The company revised the allocation of QIP proceeds among the objects CA certificate*, Bank specified in the offer document, pursuant to shareholders’ approval obtained Whether all utilization is as per the disclosures in the statements, supporting No through the AGM resolution dated September 20, 2025. Accordingly, the No comments Offer Document? documents utilisation of funds is now being undertaken in line with the revised allocation schedule Whether shareholder approval has been obtained in Voting results of AGM Change in allocation of funds towards the objects of the issue was approved by case of material deviations# from expenditures Yes resolution dated No comments shareholders vide AGM resolution dated September 20, 2025. disclosed in the Offer Document? September 20, 2025 The company revised the allocation of QIP proceeds among the objects Voting results of AGM specified in the offer document, pursuant to shareholders’ approval obtained Whether the means of finance for the disclosed Yes resolution dated through the AGM resolution dated September 20, 2025. Accordingly, the No comments objects of the issue have changed? September 20, 2025 utilisation of funds is now being undertaken in line with the revised allocation schedule Is there any major deviation observed over the earlier No Previous MA report No deviation from previous MA report No comments monitoring agency reports? Offer document, AGM No specific list of statutory/ Govt Approvals was mentioned in the offer Whether all Government/statutory approvals related No resolution dated Sep 20, document for the purpose of monitoring. As per the AGM dated Sep 20, 2025, No comments to the object(s) have been obtained? 2025 no further investment is expected towards Alathur project from QIP proceeds. An amount of Rs. 10 crores has been Whether all arrangements pertaining to technical mentioned for technical Management undertaking The company has spent Rs 3.77 crores towards technical know-how. No comments assistance/collaboration are in operation? know-how for Object 1 – for setting up a Source of information / Comments of certifications considered Comments of the the Particulars Reply by Monitoring Agency for Monitoring Agency Board of preparation of report Directors manufacturing facility in Jammu. Management There is significant delay in the implementation of the manufacturing facility Are there any favorable/unfavorable ev [Showing first 8,000 characters — download PDF for full document]