Patel Chem Specialities Limited has filed its quarterly compliance certificate with BSE Limited, fulfilling regulatory requirements under SEBI Depositories and Participants Regulation 2018. The submission, dated April 14, 2026, pertains to the quarter ended March 31, 2026.

Regulatory Compliance Submission

The company submitted the certificate pursuant to Regulation 74(5) of SEBI Depositories and Participants Regulation 2018. Managing Director Bhupesh Vahalabhai Patel (DIN: 02075545) signed the submission on behalf of the company, with the document bearing his digital signature dated April 14, 2026.

RTA Certificate Confirmation

MUFG Intime India Private Limited, formerly Link Intime India Private Limited, serves as the company's Registrar and Share Transfer Agent. The RTA issued the compliance certificate on April 1, 2026, confirming adherence to dematerialisation procedures during the quarter.

The certificate confirms that securities received from depository participants for dematerialisation during the quarter ended March 31, 2026, were properly processed. MUFG Intime confirmed that all securities were accepted or rejected appropriately and that the securities comprised in the certificates have been listed on stock exchanges where previously issued securities are listed.

Dematerialisation Process Verification

The RTA certificate provides comprehensive confirmation of proper securities handling procedures. Key confirmations include:

• Securities received for dematerialisation were confirmed or rejected within prescribed timelines
• Security certificates received were mutilated and cancelled after due verification by depository participants
• Names of depositories were substituted in the register of members as registered owners
• All processes were completed within regulatory timelines

Ashok Shetty, Sr. Vice President-Corporate Registry at MUFG Intime India Private Limited, signed the RTA certificate. The submission demonstrates Patel Chem Specialities' commitment to maintaining regulatory compliance in securities handling and depositories operations.

Patel Chem Specialities Limited has submitted its monitoring agency report for the quarter ended December 31, 2025, regarding the utilization of IPO proceeds under Regulation 32(6) of SEBI regulations. The report was prepared by Infomerics Valuation and Rating Limited, the appointed monitoring agency.

IPO Details and Proceeds Structure

The company completed its initial public offering during July 25-29, 2025, raising Rs. 58.80 crore through the issuance of 70,00,000 equity shares at Rs. 84 per share. After deducting issue-related expenses of Rs. 7.25 crore, the net proceeds available for utilization towards stated objects amounted to Rs. 51.55 crore.

Fund Utilization Progress

During Q3FY26, the company utilized Rs. 6.29 crore towards its stated objects. The cumulative utilization since the IPO stands at Rs. 22.55 crore, leaving Rs. 36.25 crore unutilized at the end of the quarter.

Capital Expenditure Project Details

The primary object involves establishing a new manufacturing facility at Indrad, Mahesana, for producing specialty chemicals including Croscarmellose Sodium (CCS), Sodium Starch Glycolate (SSG), and Calcium Carboxymethylcellulose (CMC). The company has entered into a turnkey agreement with J & H Pharma Consultants for Rs. 45.00 crore (excluding taxes) for the complete project implementation.

The new facility is expected to add 6,012 MTPA capacity to the existing combined capacity of 3,720 MTPA from Vatva and Talod facilities, bringing total capacity to 9,732 MTPA. The project is targeted for commercialization by March 2026.

General Corporate Purposes Utilization

The company has fully utilized the allocated Rs. 8.40 crore for general corporate purposes during Q2FY26 and Q3FY26. The utilization breakdown for Q3FY26 includes:

• Salary: Rs. 1.26 crore
• TDS and PF: Rs. 0.69 crore
• Electricity: Rs. 0.65 crore
• Others (machinery, lab instruments, office expenses): Rs. 0.94 crore

Deployment of Unutilized Funds

The remaining Rs. 36.25 crore is deployed as follows:

Monitoring Agency Assessment

Infomerics Valuation and Rating Limited reported no deviations from the objects stated in the offer document. The monitoring agency confirmed that all utilization was as per disclosure requirements and no material deviations were observed. The statutory auditor, M/s Parikh Shah & Associates, verified the utilization details and confirmed no deviation or variation in the use of raised funds.

The company maintains compliance with SEBI regulations regarding IPO proceeds utilization, with proper documentation and approvals in place for all expenditures.