Himatsingka Seide Ltd. — Capital/Financing Update 2025

Nov 12, 2025

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REF: HSL/SEC/2025/79

November 12, 2025

To To The Deputy Manager The Manager Department of Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block PJ Towers, Dalal Street Bandra-Kurla Complex, Bandra (E), Mumbai -400001 Mumbai 400051 Scrip Code: 514043 Symbol: HIMATSEIDE

Dear Sir/ Madam,

Sub: Monitoring Agency Report for the quarter ended September 30, 2025.

Ref: Disclosure under Regulation 173A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 read with Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ended September 30, 2025.

Pursuant to the above-mentioned regulations, we are enclosing herewith the Monitoring Agency Final Report for the quarter ended September 30, 2025, issued by CARE Ratings Limited, for the funds raised through Qualified Institutional Placement.

Thanking you,

Yours faithfully,

For Himatsingka Seide Limited

Bindu D

Digitally signed by Bindu D Date: 2025.11.12 18:52:00 +05'30'

Bindu D. Company Secretary & Compliance Officer

Encl: As above

Himatsingka Seide Limited Registered Office: No.4/1-2, Crescent Road, Bangalore – 560001, India T +918022378000 E hslblr@himatsingka.com CIN L17112KA1985PLC006647 www.himatsingka.com

Agency Report

Final Monitoring Agency Report

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No. CARE/HO/GEN/2025-26/1144

The Board of Directors Himatsingka Siede Limited

10/24, Kumara Krupa Road High Grounds Bengaluru Karnataka 560001

November 12, 2025

Dear Sir/Ma’am,

- Monitoring Agency Report for the quarter ended September 30, 2025 in relation to the QIP of Himatsingka Siede Limited (“the Company”)

We write in our capacity of Monitoring Agency for the QIP issue for the amount aggregating to Rs.400.00 crore of the Company and refer to our duties cast under Section 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 September 30, 2025, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated October 24, 2024.

Request you to kindly take the same on records.

Thanking you, Yours faithfully,

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Sonal Bhageria Associate Director Sonal.bhageria@careedge.in

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CARE Ratings Limited

4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in

CIN-L67190MH1993PLC071691

Report of the Monitoring Agency

Name of the issuer: Himatsingka Siede Limited For quarter ended: September 30, 2025 Name of the Monitoring Agency: CARE Ratings Limited

• (a)Deviation from the objects: Nil. The Company obtained an extension through a Board resolution dated March 29, 2025, for utilizing QIP proceeds towards the repayment or prepayment, in full or in part, of certain outstanding borrowings by the Company and/or its subsidiaries. As per the revised schedule, the completion of this objective was expected by the end of the second quarter of fiscal year 2026. In the quarter ended September 30, 2025, the Company fully utilized the QIP proceeds for debt repayment. (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.

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Signature:

Name and designation of the Authorized Signatory: Sonal Bhageria Designation of Authorized person/Signing Authority: Associate Director

CARE Ratings Limited

4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in

CIN-L67190MH1993PLC071691

1) Issuer Details: Name of the issuer Name of the promoter Industry/sector to which it belongs

: Himatsingka Siede Limited : Dinesh Kumar Himatsingka and Shrikant Himatsingka : Other Textile Products (Home Textiles)

2) Issue Details Issue Period Type of issue (public/rights) Type of specified securities IPO Grading, if any Issue size (in crore)

: 24/10/2024 to 29/10/2024 : QIP Issue : Equity Shares : Not Applicable : Rs.400.00

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CARE Ratings Limited

4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in

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CIN-L67190MH1993PLC071691

3) Details of the arrangement made to ensure the monitoring of issue proceeds:

Particulars	Reply	Source of information / certifications considered by Monitoring Agency for preparation of report	Comments of the Monitoring Agency	Comments of the Board of Directors
Whether all utilization is as per the disclosures in the Offer Document?	Yes	Management Certificate CA Certificate* Bank Statement, Loan Statements	The original timeline for utilization of QIP proceeds towards repayment/pre-payment, in full or in part, of certain outstanding borrowings by the Company and/or its subsidiaries was set for the end of fiscal year 2025. However, the Company has obtained an extension for this timeline through a Board resolution dated March 29, 2025. As per the revised schedule, the completion of the stated objective was expected by the end of the second quarter of fiscal year 2026. In quarter ended September 30, 2025, the company has fully utilized the QIP proceeds towards debt repayment. The GCP was utilized as per the original timelines.	No comments
Whether shareholder approval has been obtained in case of material deviations# from expenditures disclosed in the Offer Document?	Not Applicable as no deviation	Company declaration	No comments	No comments
Whether the means of finance for the disclosed objects of the issue have changed?	No	Company declaration	No comments	No comments
Is there any major deviation observed over the earlier monitoring agency reports?	No Applicable	Last monitoring agency report	No comments	No comments
Whether all Government/statutory approvals related to the object(s) have been obtained?	Yes	Company declaration. NSE/BSE Approvals and Placement Document cum Application Letter	No comments	No comments
Whether all arrangements pertaining to technical assistance/collaboration are in operation?	Not Applicable	Company declaration	No comments	No comments
CARE Ratings Limited
4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691

Particulars	Reply	Source of information / certifications considered by Monitoring Agency for preparation of report	Comments of the Monitoring Agency	Comments of the Board of Directors
Are there any favorable/unfavorable events affecting the viability of these object(s)?	No	Company declaration	No comments	No comments
Is there any other relevant information that may materially affect the decision making of the investors?	No	Company declaration	No comments	No comments

*Chartered Accountant certificate from MSKA & Associates, Chartered Accountants, dated October 27, 2025

Where material deviation may be defined to mean:

a) Deviation in the objects or purposes for which the funds have been raised

b) Deviation in the amount of funds actually utilized by more than 10% of the amount projected in the offer documents.

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CARE Ratings Limited

4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in

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CIN-L67190MH1993PLC071691

4) Details of objects to be monitored:

(i) Cost of objects –

Sr. No	Item Head	Source of information / certifications considered by Monitoring Agency for preparation of report	Original cost (as per the Offer Document) in Rs. Crore	Revised Cost in Rs. Crore	Comments of the Monitoring Agency	Comments of the Board of Directors	Comments of the Board of Directors	Comments of the Board of Directors
						Reason for cost revision	Proposed financing option	Particulars of - firm arrangements made
1	Repayment / pre-payment, in full or in part, of certain outstanding borrowings availed by our Company and/ or its Subsidiaries	As per Placement Document	300.00	NA	Nil	No comments	No comments	No comments
2	General corporate purposes	As per Placement Document	77.60	NA	Nil	No comments	No comments	No comments
3	Issue Related Expenses	As per Placement Document	22.40	NA	Nil	No comments	No comments	No comments
Total			400.00	NA

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CARE Ratings Limited

4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in

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CIN-L67190MH1993PLC071691

– (ii) Progress in the objects

Sr. No	Item Head	Source of information / certifications considered by Monitoring Agency for preparation of report	Amount as proposed in the Offer Document in Rs. Crore	Amount utilised in Rs. Crore	Amount utilised in Rs. Crore	Amount utilised in Rs. Crore	Total	Comments of the Monitoring Agency	Comments of the Board of Directors	Comments of the Board of Directors
				As at beginning of the quarter in Rs. Crore	During the quarter in Rs. Crore	At the end of the quarter in Rs. Crore			Reasons for idle funds	Proposed course of action
							unutilised
							amount in
							Rs. crore
1	Repayment / pre-payment, in full or in part, of certain outstanding borrowings availed by our Company and/ or its Subsidiaries	As per Placement Document	300.00	267.40	32.60	300.00	-	The company has used interest of Rs.0.37 crore and Rs.0.26 crore earned in Q1 and Q2 of FY26 towards debt repayment along with the unutilised amount of Rs.32.60 crore. Total debt repayment done is Rs.33.23 crore.	No comments	No comments
2	General corporate purposes	As per Placement Document	77.60	77.60	-	77.60##	-	Nil.	No comments	No comments
3	Issue Related Expenses	As per Placement Document	22.40	22.40	-	22.40#	-	Nil	No comments	No comments
Total			400.00	367.40	32.60	400.00	-

Actual issue related expenses were Rs.22.8294 crore as against estimated expense of Rs.22.40 crore, the balance of Rs.0.4294 crore has been incurred from General Corporate Purposes.

The GCP expenditure met through the proceeds of the QIP amounted to Rs. 77.60 crore, while the actual expenditure incurred was Rs. 79.09 crore. The difference between the actual expenditure and the amount funded through the QIP proceeds was met by interest income earned during the third and fourth quarters of fiscal year 2025, which amounted to Rs. 0.84 crore and Rs. 0.65 crore, respectively.

General Corporate Purposes – The general corporate purposes for which our company proposes to utilize net proceeds include, without limitation, funding growth opportunities, business development initiatives meeting general corporate exigencies and contingencies, expenses of our company, and/or any other general purposes, as may be permissible under applicable laws, including provisions of the Companies Act.

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CARE Ratings Limited

4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in

CIN-L67190MH1993PLC071691

(iii)Deployment of unutilised IPO proceeds:

Sr. No.	Type of instrument and name of the entity invested in	Type of instrument and name of the entity invested in	Amount invested	Maturity date				Return on Investment (%)	Market Value as at the end of quarter*
						Earning
1	-		-	-		-		-	-
2	-		-	-		-		-	-
* Where the market value is not feasible, provide NAV/NRV/Book Value of the same (iv) Delay in implementation of the object(s)–
		Completion Date						Comments of the Board of Directors
						Delay (no. of
Objects		As per the placement							Proposed course of
				Actual		days/ months)		Reason of delay
		document							action
Repayment / pre-payment, in full or in part, of certain outstanding borrowings availed by our Company and/ or its Subsidiaries		FY2025		Completed by September 30, 2025		No delay as per revised timeline #		No comments	No comments
General corporate purposes		FY2025		FY2025		Not Applicable		No comments	No comments

The original timeline for utilization of QIP proceeds towards repayment/pre-payment, in full or in part, of certain outstanding borrowings by the Company and/or its subsidiaries was set for the end of fiscal year 2025. However, the Company has obtained an extension for this timeline through a Board resolution dated March 29, 2025. As per the revised schedule, the completion of the stated objective was expected by the end of the second quarter of fiscal year 2026. In quarter ended September 30, 2025, the company has fully utilized the QIP proceeds towards debt repayment.

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CARE Ratings Limited

4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in

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CIN-L67190MH1993PLC071691

5) Details of utilization of proceeds stated as General Corporate Purpose (GCP) amount in the offer document: Nil for the quarter ended September 30, 2025

Sr. No			Source of information
			/ certifications
		Amount		Comments of	Comments of the
	Item Head^		considered by
		in Rs. Crore		Monitoring Agency	Board of Directors
			Monitoring Agency for
			preparation of report
1.	-	-	-	-	No comments
	Total

^ Section from the offer document related to GCP:

Our Company proposes to deploy the balance Net Proceeds, aggregating up to Rs.77.59 crore, towards general corporate purposes as approved by our management from time to time, subject to such utilisation not exceeding 25% of the Gross Proceeds, in compliance with the circular bearing reference no. NSE/ CML/2022/56 dated December 13, 2022, issued by NSE and circular no. 20221213-47 dated December 13, 2022, issued by BSE and with applicable laws. The general corporate purposes for which our Company proposes to utilise Net Proceeds include, without limitation, funding growth opportunities, business development initiatives meeting ongoing general corporate exigencies and contingencies, expenses of our Company, and/or any other general purposes, as may be permissible under applicable laws, including provisions of the Companies Act.

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CARE Ratings Limited

4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in

CIN-L67190MH1993PLC071691

Disclaimers to MA report:

a) This Report is prepared by CARE Ratings Ltd (hereinafter referred to as “Monitoring Agency/MA” ). The MA has taken utmost care to ensure accuracy and objectivity while developing this Report based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. 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.

b) This Report has to be seen in its entirety; the selective review of portions of the Report may lead to inaccurate assessments. For the purpose of this Report, MA has relied upon the information provided by the management /officials/ consultants of the Issuer and third-party sources like statutory auditors (or from peer reviewed CA firms) appointed by the Issuer believed by it to be accurate and reliable.

c) Nothing contained in this Report is capable or 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 MA is also not responsible for any errors in transmission and specifically states that it, or its directors, employees do not have any financial liabilities whatsoever to the users of this Report.

d) The MA and its affiliates do not act as a fiduciary. The MA and its affiliates also do not act as an expert to the extent defined under Section 2(38) of the Companies Act, 2013. While the MA has obtained information from sources it believes to be reliable, it does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives from auditors (or from peer reviewed CA firms), lawyers, chartered engineers or other experts, and relies on in its reports.

e) The MA or its affiliates may have other commercial transactions with the entity to which the report pertains. As an example, the MA may rate the issuer or any debt instruments / facilities issued or proposed to be issued by the issuer that is subject matter of this report. The MA may receive separate compensation for its ratings and certain credit-related analyses, normally from issuers or underwriters of the instruments, facilities, securities or from obligors.

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CARE Ratings Limited

4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in

CIN-L67190MH1993PLC071691