Monitoring Agency Report

Date: - 14th August, 2026 Compliance Department, Bombay Stock Exchange Mumbai Symbol: INDOSMC ISIN: INE0WKY01013 Subject: Monitoring Agency Report issued by Crisil Ratings Limited for the utilization of funds raised through Initial Public Offer (“IPO”) for quarter ended on March 31, 2026 and June 30, 2026 Dear Sir/ Madam, 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, we have enclosed herewith the Monitoring Agency Report issued by the Crisil Ratings Limited, Monitoring Agency, appointed by the Company for monitoring the utilization of funds raised through Initial Public Offer (“IPO”) for the quarter ended on March 31, 2026 and June 30, 2026. Kindly take this information on your records. Thanking you, Yours faithfully, For INDO SMC Limited Avani Patel Company Secretary & Compliance Officer Membership No: A66815 Monitoring Agency Report Indo SMC Limited for the quarter ended June 30, 2026 CRL/MAR/ INSMLI /2026-27/1874 August 14, 2026 Indo SMC Limited 809, Shilp Zaveri Shyamal Cross Road, Vejalpur, Shyamal, Ahmedabad, Gujarat - 380006 Dear Sir, Sub: Monitoring Agency Report for the quarter ended March 31, 2026, and June 30, 2026 - in relation to Initial Public Offer (“IPO”) of Indo SMC Limited (“the Company”) Pursuant to Regulation 262 (2) of SEBI (lssue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”) and Monitoring Agency Agreement dated October 27, 2025 (“the agreement”), enclosed herewith Monitoring Agency Report, issued by Crisil Ratings Limited, Monitoring Agency, as per Schedule XI of the SEBI ICDR Regulations regarding utilization of proceeds raised from IPO, refer - 1. Section I: for the quarter ended March 31, 2026, and 2. Section II: 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) Section I – For the quarter ended March 31, 2026 Report of the Monitoring Agency Name of the issuer: Indo SMC Limited For quarter ended: March 31, 2026 Name of the Monitoring Agency: Crisil Ratings Limited (“CRL”) (a) Deviation from the objects: Not applicable (b) Range of Deviation: Not applicable Note 1: CRL had initially issued the ‘Qualified Monitoring Agency Report – Issuer Non-Cooperative’ for the quarter ended March 31, 2026, to the Company on May 15, 2026, due to non-receipt of the requisite documents and clarifications related to utilisation of issue proceeds for the quarter ended March 31, 2026. Subsequently, the Company has shared the relevant documents/information for the quarter ended March 31, 2026, as well as for the quarter ended June 30, 2026, in the month of August 2026. Accordingly, updated MA report is issued for quarter ended March 31, 2026, along with the MA report for the quarter ended June 30, 2026. CRL hereby disclaims any responsibility and liability arising from breach of regulatory timelines, including delayed submission of the MA Report to relevant regulatory authorities, that may be attributed to the delay on the part of the issuer Company in providing relevant data and/or information necessary for the issuance of the MA report for the quarter ended March 31, 2026. 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: Indo SMC Limited Names of the promoter: Mr. Rachit Jain Mr. Nitin Jasvantbhai Patel Mr. Neel Niteshbhai Shah Mr. Riktabahen Sonawala Mr. Chaitanya Patel Industry/sector to which it belongs: Other Electrical Equipment 2) Issue Details Issue Period: January 12, 2026, to January 16, 2026 Type of issue (public/rights): Initial Public Offer (IPO) Type of specified securities: Equity Shares IPO Grading, if any: NA Issue size: Rs. 9,194.79 lakhs (Net Proceeds of Rs. 8,459.60 lakhs*) #Crisil Ratings shall be monitoring the Net proceeds. 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Source of information/ Comments of Comments of certifications considered Particulars Reply the Monitoring the Board of by Monitoring Agency Agency Directors for preparation of report Statutory Auditor certificate^, Proceeds have Management been utilized Undertaking, towards Whether all utilization is as per the Yes Prospectus dated January purchase of No Comments disclosures in the Offer Document? 19, 2026, (hereinafter machinery and referred as “Offer working capital document”), Bank requirements Statements Whether shareholder approval has been obtained in case of material deviations from NA No Comments No Comments expenditures disclosed in the Offer Document? Whether the means of finance for the No No Comments No Comments disclosed objects of the issue has changed? Source of information/ Comments of Comments of certifications considered Particulars Reply the Monitoring the Board of by Monitoring Agency Agency Directors for preparation of report (Refer note 1 on Is there any major deviation observed over Yes page no 4 of the No Comments the earlier monitoring agency reports? report) Whether all Government/statutory approvals related to the object(s) have been NA No Comments No Comments obtained? Whether all arrangements pertaining to technical assistance/collaboration are in NA No Comments No Comments Statutory Auditor operation? certificate^, Management Are there any favorable events improving No Undertaking No Comments No Comments the viability of these object(s)? Are there any unfavorable events affecting No No Comments No Comments the viability of the object(s)? Is there any other relevant information that may materially affect the decision making No No Comments No Comments of the investors? ^Certificate dated July 09, 2026, issued by M/s A. N. Ruparel & Co, Chartered Ac [Showing first 8,000 characters — download PDF for full document]