Kindly find the enclosed disclosure

Date: August 14, 2026 The Department of Corporate Services – CRD BSE Limited P.J. Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 544436 Dear Sir/ Madam, Sub: Monitoring Agency Report for the quarter ended June 30, 2026 Pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 41(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, please find enclosed the Monitoring Agency Report for the quarter ended June 30, 2026, issued by the Monitoring Agency, in respect to utilization of proceeds from Initial Public Offering (IPO). Please note that, being an SME Listed Company, we are voluntarily complying with the above referred Regulations. This is for your information and records. Yours sincerely, For, Vandan Foods Limited Rekesh Patel (DIN: 10141844) Managing Director Monitoring Agency Report for Vandan Foods Limited for the quarter ended June 30, 2026 Monitoring Agency Report June 30, 2026 Vandan Foods Limited 503/B, Wall Street-1, Opp. Orient Club, Nr. Rly. Crossing, Ellisbridge Ahmedabad -380006, Gujarat, India Dear Sir, Monitoring Agency Report for the quarter ended June 30, 2026 - in relation to the Initial Public issue of Vandan Foods Limited We write in our capacity of Monitoring Agency for the initial public issue of equity shares for the amount aggregating to Rs. 30.36 crore of the Company and refer to our duties cast under 162A of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2018 (SEBI ICDR 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 16th June 2025. Request you to kindly take the same on records. Thanking you, For and on behalf of Infomerics Valuation and Rating Limited Gaurav Jain (Director - Ratings) - gaurav.jain@infomerics.com Report of the Monitoring Agency Name of the Issuer: Vandan Foods Limited For quarter ended: June 30, 2026 Name of the Monitoring Agency: Infomerics Valuation and Rating Limited (a) Deviation from the objects: No Deviation (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 declare that we do not have any direct / indirect interest in or relationship with the issuer/promoters/directors/management and also confirm that we do not perceive any conflict of interest in such relationship / interest while monitoring and reporting the utilization of issue proceeds by the issuer. We further declare that this report provides true and fair view of the utilization of issue proceeds. Name of the Authorized Person/Signing Authority: Gaurav Jain Designation of Authorized person/Signing Authority: Director - Ratings Seal of the Monitoring Agency: Date: August 14,2026 1) Issuer Details: Name of the issuer: Vandan Foods Limited Names of the promoters of the issuer: Kalpeshkumar Bhagavandas Thakkar Rakeshkumar Rameshbhai Patel Jitendra Rameshbhai Patel Jyotsana Jitendrabhai Patel Kalpeshkumar Thakkar HUF Industry/sector to which it belongs: The Company is presently engaged in the business of manufacturing Castor Oil and its derivatives. It is currently operating on a B2B business model primarily focusing on Refined F.S.G. Castor Oil, Castor De Oil Cake. 2) Issue Details: Issue Period: June 30, 2025, to July 02, 2025 Type of issue (public/rights): Public Issue Type of specified securities: Equity shares Grading: Not Applicable Issue size (Rs in Crores): Rs. 30.36 crores (Note No. 1 & Note No. 2) Note 1 In Q2FY26, the company issued 26,40,000 Equity Shares at an issue price of Rs. 115.00 (including a premium of Rs. 105.00) aggregating to Rs. 30.36crore. Note 2 Particulars Amount as per the Prospectus (Rs. in crore) Total Proceeds Received from IPO 30.36** Less: Public Issue Related Expenses 2.99* Net Proceeds Available for Utilization 27.37 Note: Total amount incurred by the company towards issue related expenses (including reimbursement to the company for issue related expenses incurred prior to receipt of IPO proceeds) from March 10, 2025, to September 30, 2025, aggregated to Rs. 2.77 crore. Further, in Q3FY26, the company incurred additional expenses of Rs. 0.20 crore. The remaining portion of issue-related expenses amounting to Rs. 0.02 crore is yet to be utilized and is being maintained as balance in the Public Issue account with Kotak Mahindra Bank (A/Number 5949965328). The company had utilized a total of Rs 29.88 crore towards the objects of the issue and towards issue related expenses towards Q2FY26 and 0.38 crores towards Q3FY26. The company reported zero utilization of funds in Q1FY27, as on June 30, 2026, an unutilized IPO proceeds balance of Rs. 0.105 crore remained in the Kotak Mahindra Bank Public Issue Account. According to the management, the Company's Monitoring Account with Kotak Mahindra Bank (A/c No. 7151374684) was closed after the bank restricted debit operations due to the Company's debt exposure crossing specified limit with another banking institution in line with RBIs circular. Consequently, the remaining IPO funds are currently held in the Escrow/Public Issue Account with Kotak Mahindra Bank (A/c No. 5949965328). Since the existing Monitoring Account has been closed, the transfer of funds from the Escrow Account is not feasible until a new account is opened with the same bank where credit lines are running and designated as the Monitoring Account. To address this, the company is in the process of opening new account. Upon completion of the necessary formalities, the balance IPO proceeds of Rs. 0.105 Crores will be transferred to the new account to ensure continued monitoring and proper segregation of the funds. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: * The above details are verified by Statutory Auditor of the company (which is also a peer reviewed firm) M/s. Piyush Kothari & Associates; Chartered 158407) vide its certificate dated August 11, 2026. No deviations from expenditure as per applicable objects. 4) Details of object(s)s to be monitored: (i) Cost of object(s)- *CA Certificate dated August 11, 2026, issued by M/s. Piyush Kothari & Associates, Statutory Auditors of the Company. **Sourced from final prospectus dated 23 June 2025, Page No. 71. (ii) Progress in the object(s)- Piyush Kothari & Associates, (also a peer reviewed firm) dated August 11, 2026. **Sourced from prospectus issued by the company dated June 23, 2025. The company reported zero utilization of funds in Q1FY27, as on June 30, 2026, an unutilized IPO proceeds balance of Rs. 0.105 crore remained in the Kotak Mahindra Bank Public Issue Account. According to the management, th [Showing first 8,000 characters — download PDF for full document]