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( As on 03/02/2026 13:07)

Gandhar Oil Refinery - Monitoring Agency Report

Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 41(4) of the Securities andExchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, pleasefind enclosed herewith Monitoring Agency Report issued in respect of the utilization of the proceeds of the Initial Public Offer ( IPO ) of the Company for the quarter and nine months ended December 31, 2025, by ICRA Limited, the Monitoring Agency. This report will also be hosted on the Company s website.