Elin Electronics Limited — Capital/Financing Update 2023

Aug 14, 2023

ELIN ELECTRONICS LIMITED ELIN HOUSE, 4771, BHARAT RAM ROAD, 23 DARYAGANJ, NEW DELHI -110 002 Website : www.elinindia.com Tel.: 91-11-43000400 Fax : 91-11-23289340

==> picture [72 x 82] intentionally omitted <==

August 14, 2023

National Stock Exchange of India Limited BSE Limited

Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra - Kurla Complex Bandra (E), Mumbai - 400 051

Corporate Relationship Department, 2nd Floor, New Trading Wing, Rotunda Building, P.J. Towers, Dalal Street, Mumbai - 400 001

Symbol: ELIN

Scrip Code: 543725

ISIN: INE050401020

Dear Sir/Ma’am,

Sub: Statement of deviation/variation in utilisation of funds raised through Initial Public Offer('IPO')

Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended read with SEBI Circular No. CIR/ CFD/CMDl/162/2019 dated December 24, 2019, we hereby confirm that during the quarter ended June 30, 2023, there is no deviation or variation in the utilisation of proceeds of the IPO from the objects stated in the Prospectus dated December 23, 2022.

A statement of deviation/variation in utilisation of funds raised through 'IPO' for the quarter ended June 30, 2023, duly reviewed by the Audit Committee of the Company is enclosed as 'Annexure A'.

We request you to take the above information on record.

Thanking You

Yours faithfully,

For Elin Electronics Limited

==> picture [58 x 47] intentionally omitted <==

==> picture [48 x 47] intentionally omitted <==

Lata Rani Pawa

Company Secretary & Compliance Officer M. No.: A30540 cs@elinindia.com

Encl: As above

==> picture [92 x 69] intentionally omitted <==

Factories:-

C-142-143-144-144/1, Industrial Area, Site No.1, Bullandshahar Road, Ghaziabad – 201009 (U.P.) L-84, Verna Industrial Area, Electronic City, Verna, Goa – 403722 Village: Beli Khol, Post: Manpura – 174101, Teh: Nalagarh, District: Solan (Himachal Pradesh) Regd. Office: 143, Cotton Street, Kolkata – 700007 * Telefax : 91-33-22685738 CIN : L29304WB1982PLC034725

ELIN ELECTRONICS LIMITED ELIN HOUSE, 4771, BHARAT RAM ROAD, 23 DARYAGANJ, NEW DELHI -110 002 Website : www.elinindia.com Tel.: 91-11-43000400 Fax : 91-11-23289340

==> picture [72 x 82] intentionally omitted <==

Annexure- A

Statement of Deviation / Variation in utilization of funds raised

==> picture [426 x 210] intentionally omitted <==

----- Start of picture text -----

Name of listed entity Elin Electronics Limited
Mode of Fund Raising Public Issues i.e. Initial Public Offer (IPO)
Date of Raising Funds December 30, 2022
Amount Raised INR 4750 Million (including Fresh Issue of INR
1750 Million)
Report filed for Quarter ended June 30, 2023
Monitoring Agency Applicable
Monitoring Agency Name, if applicable Axis Bank Limited
Is there a Deviation / Variation in use of funds No
raised
If yes, whether the same is pursuant to change Not Applicable
in terms of a contract or objects, which was
approved by the shareholders
If Yes, Date of shareholder Approval Not Applicable
Explanation for the Deviation / Variation Not Applicable
Comments of the Audit Committee after review No Comments
Comments of the auditors, if any No Comments
----- End of picture text -----

==> picture [92 x 69] intentionally omitted <==

Factories:-

C-142-143-144-144/1, Industrial Area, Site No.1, Bullandshahar Road, Ghaziabad – 201009 (U.P.) L-84, Verna Industrial Area, Electronic City, Verna, Goa – 403722 Village: Beli Khol, Post: Manpura – 174101, Teh: Nalagarh, District: Solan (Himachal Pradesh) Regd. Office: 143, Cotton Street, Kolkata – 700007 * Telefax : 91-33-22685738 CIN : L29304WB1982PLC034725

ELIN ELECTRONICS LIMITED ELIN HOUSE, 4771, BHARAT RAM ROAD, 23 DARYAGANJ, NEW DELHI -110 002 Website : www.elinindia.com Tel.: 91-11-43000400 Fax : 91-11-23289340

==> picture [72 x 82] intentionally omitted <==

Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table	Objects for which funds have been raised and where there has been a deviation, in the following table
Original Object	Modified Object, if any	Original Allocatio n	Modified allocation, if any	Funds Utilised	Amount of Deviation/ Variation for the quarter according to applicable object	Remarks if any
Repayment/	Not	INR	INR 880.00	INR	Not applicable	Till 30.06.2023 the
prepayment, in full or part, of certain borrowings availed of by our Company	applicable	880.00 Million	Million	584.12 Million (Note-1)		Company has utilized INR 880 Million (INR 584.12 Million during 30.06.2023 and INR 295.88 Million till 31.03.2023
Funding capital expenditure towards upgrading and expanding our existing facilities at	Not applicable	INR 375.89 Million	INR 375.89 Million	Nil	Not applicable	Not applicable
(i)Ghaziabad , Uttar Pradesh, and (ii) Verna, Goa
General corporate purposes	Not applicable	INR 390.24 Million	INR 395.63 Million	INR 5.39 Million (adjusted based on the final share of company’ s share in issue expenses)	Not applicable	Till 31.03.2023 the Company has utilized INR 390.24 Million. During 30.06.2023 INR 5.39 Million adjusted based on the final share of company’s share in issue expenses

==> picture [92 x 69] intentionally omitted <==

Factories:-

C-142-143-144-144/1, Industrial Area, Site No.1, Bullandshahar Road, Ghaziabad – 201009 (U.P.) L-84, Verna Industrial Area, Electronic City, Verna, Goa – 403722

Village: Beli Khol, Post: Manpura – 174101, Teh: Nalagarh, District: Solan (Himachal Pradesh) Regd. Office: 143, Cotton Street, Kolkata – 700007 * Telefax : 91-33-22685738 CIN : L29304WB1982PLC034725

ELIN ELECTRONICS LIMITED ELIN HOUSE, 4771, BHARAT RAM ROAD, 23 DARYAGANJ, NEW DELHI -110 002 Website : www.elinindia.com Tel.: 91-11-43000400 Fax : 91-11-23289340

==> picture [72 x 82] intentionally omitted <==

==> picture [460 x 120] intentionally omitted <==

----- Start of picture text -----

Total INR INR INR
1646.13 1651.52 589.51
Million Million Million
Deviation or variation could mean:
(a) Deviation in the objects or purposes for which the funds have been raised or
(b) Deviation in the amount of funds actually utilized as against what was originally disclosed or
(c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer,
etc.
----- End of picture text -----

Note-1: The Company has made pre-payment of proposed repayment of Fiscal 2025 in the current year i.e. Fiscal 2024 itself. The pre-payment has not caused any increase in the amount allocated for prepayment and repayment in full or part, of borrowings availed by the Company as disclosed in the prospectus and therefore same shall not amount to any variation or deviation from the Objects of the Offer as disclosed in the prospectus.

For Elin Electronics Limited

==> picture [58 x 46] intentionally omitted <==

==> picture [48 x 46] intentionally omitted <==

Lata Rani Pawa

Company Secretary & Compliance Officer M. No.: A30540 cs@elinindia.com

==> picture [92 x 69] intentionally omitted <==

Factories:-

C-142-143-144-144/1, Industrial Area, Site No.1, Bullandshahar Road, Ghaziabad – 201009 (U.P.) L-84, Verna Industrial Area, Electronic City, Verna, Goa – 403722 Village: Beli Khol, Post: Manpura – 174101, Teh: Nalagarh, District: Solan (Himachal Pradesh) Regd. Office: 143, Cotton Street, Kolkata – 700007 * Telefax : 91-33-22685738 CIN : L29304WB1982PLC034725