Power Mech Projects Limited — Capital/Financing Update 2024

May 20, 2024

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Date: 20.05.2024

To To The Corporate Relations Department National Stock Exchange of India Ltd BSE Limited, Exchange Plaza, Dalal Street, PJ Towers, Bandra Kurla Complex, Bandra (E), MUMBAI-400001 MUMBAI-400051

Dear Sir/Madam,

Sub: Statement of Deviations(s) or variations(s) if any, of utilization of proceeds received from Qualified Institutions Placement (QIP)

Ref: BSE Scrip Code: 539302, NSE Symbol: POWERMECH

Pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015,read with SEBI Master Circular No.SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated 11th July,2023, it is hereby confirmed that there is no deviation or variation in the use of proceeds from the object mentioned in the Placement Document dated 23.10.2023 for funds raised through the Qualified Institutions Placement (QIP) made by the Company, a statement confirming the same, duly reviewed and approved by the Audit Committee at it’s meeting held today i.e 20.05.2024 is enclosed.

Kindly take the same on record.

Thanking You, For Power Mech Projects Limited

Mohith Kumar Digitally signed by Mohith Kumar Khandelwal Khandelwal Date: 2024.05.20 19:45:02 +05'30' Mohith Kumar Khandelwal Company Secretary Encl:A/a

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Statement of Deviation / Variation in utilisation of funds raised

Name of listed entity	POWER MECH PROJECTS LIMITED
Mode of Fund Raising	Qualified Institutions Placement (QIP)
Date of Raising Funds	23.10.2023
Amount Raised	Rs.350.00 Crores
Report filed for Quarter ended	31.03.2024
Monitoring Agency	Applicable
Monitoring Agency Name, if applicable	Care Ratings Limited
Is there a Deviation / Variation in use of funds raised	No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders	Not Applicable
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

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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 (Rs. In Crores)	Modified allocation, if any	Funds Utilised	Amount of Deviation/Variati on for the quarter according to applicable object	Remarks, if any
Funding capital expenditure for the installation and operation of washery and coal handling plant including other incidental infrastructure works for the tasra opencast project	NA	240.00	NA	2.88	NA
Repayment/prepa yment in full or part, of a portion of the loan availed by our company from bank of bahrain and kuwait b.sc	NA	20.00	NA	20.00	NA
General Corporate Purposes (GCP)	NA	83.40	NA	83.40	NA
Total		343.40		106.28

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

For Power Mech Projects Limited

Mohith Kumar Digitally signed by Mohith Kumar Khandelwal Khandelwal Date: 2024.05.20 19:45:22 +05'30'

Mohith Kumar Khandelwal Company Secretary

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