PI Industries Ltd. — Capital/Financing Update 2024

Feb 9, 2024

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PIIL:SEC:NSE/BSE:90:2023-24 February 09, 2024

BSE Limited National Stock Exchange of India Ltd. Corporate Relationship Deptt. Exchange Plaza, Plot No. C/1, G-Block PJ Towers, 25[th] Floor, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Code No.523642 Code No. PIIND

Dear Sir/ Madam,

Sub: Statement of deviation(s) or variation(s) for proceeds of Qualified Institutions Placement (QIP) for the quarter ended December 31, 2023

Pursuant to the provision of Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is submitted that there is no deviation or variation in utilization of proceeds of QIP from objects stated in the Placement Document dated July 08, 2020.

In terms of the SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019, the statement of NIL deviation(s) or variations(s) in utilization of proceeds of QIP for the quarter ended December 31, 2023, in prescribed format duly reviewed by the Audit Committee is enclosed herewith.

You are requested to kindly take same on record.

Thanking you,

Yours faithfully

For PI Industries Limited

SONAL Digitally signed by SONAL RAMANAND RAMANAND TIWARI Date: 2024.02.09 16:15:47 TIWARI +05'30'

Sonal Tiwari Company Secretary ACS: 16638

Encl: As above.

PI Industries Ltd. Corporate Off.: Vipul Square, 5th Floor, B-Block, Sushant Lok, Phase I, Gurgaon – 122009, Haryana, India. Tel.: +91-124-679000 aa Regd. Off.: Post Box No.20, Udaisagar Road, Udaipur – 313001, Rajasthan, India. Tel.: +91-294-2491451-5, 6651100, Fax: +91-294-2491946 Email: info@piind.com, www.piindustries.com, CIN: L24211RJ1946PLC000469

				Statement of Deviation / Variation in utilisation of funds raised	Statement of Deviation / Variation in utilisation of funds raised	Statement of Deviation / Variation in utilisation of funds raised	Statement of Deviation / Variation in utilisation of funds raised	Statement of Deviation / Variation in utilisation of funds raised	Statement of Deviation / Variation in utilisation of funds raised
Name of listed entity Mode of Fund Raising Date of Raising Funds							Pl Industries Limited Plalie lss1es /RigRts lssles,PFefeFeAtialss1es/ QIP /GtReFs July9,2020 , 19,749.66 Mn("NetProceeds") /, 20,000 Mn(Issue size)
Amount Raised Report filed for Quarter ended Monitoring Agency Monitoring Agency Name, if applicable Is there a Deviation/Variation in use of funds raised
							December 31, 2023 Notapplicable
							Notapplicable
							NIL
If yes, whetherthesameis pursuant to changeinterms of a contract or objects, which was approvedbythe							Notapplicable
shareholders If Yes, Date of shareholder Approval
							Notapplicable
Explanation for the Deviation/ Variation Comments of the Audit Committee after review Comments of the auditors, if any Objectsforwhichfunds have been raised and where there has been a deviation, in the following table Original Object Modified Original Object, if any Allocation To utilize the Net Proceeds Not , 19,749.66 for:- Applicable million ("Net Proceeds") (i) fundingtheorganic or inorganic growth opportunities in the area of its operations and adjacencies, (ii) other long-termcapital requirements, (iii) investments in Subsidiaries, joint venture(s) and affiliate(s) (either through debt or equity or any convertible securities), (iv) pre-payment and / or repaymentof outstanding borrowings and/ or, (v) general corporate requirements or any other purposes, as may be permissible under the applicable law and approved by our Board or its duly constituted committee.							Notapplicable Nil deviation
							NIL
							Modified Funds Utilised allocation, if any	Amount of deviation/ Variation for the quarter according to applicable object
							Not ,8,919.99 Applicable million	NIL	Out of the total funds utilized, - ,6 74.99 million were utilized in the quarter ended December 31,2022,and - ,190 million were utilized in the quarter ended March 31, 2023 -, 7,564.99 million were utilized in the quarter ended June 30, 2023 • ,100 million were utilized in the quarter ended September 30, 2023 -,390 million were utilized in the quarter ended December 31,2023

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.

Name of Signatory: Manikantan Viswanathan � Designation: Chief Financial Officer

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Date: February 09, 2024 Place: Mumbai