Company Update

Regd.

Office: Kamla Tower, Kanpur- 208001 (INDIA) Phones: +91 512 2371478 – 81 E-mail : cs@jaykayenterprises.com, Web : www.jaykayenterprises.com CIN: L55101UP1961PLC001187 August 08, 2025 To Listing Department BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai - 400 001 Scrip Code: 500306 ISIN: INE903A01025 Sub: Monitoring Agency Report for the quarter ended June 30, 2025 Dear Sir/Madam, Pursuant to the provisions of Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 82(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended from time to time, please find enclosed herewith the Monitoring Agency Report for the quarter ended June 30, 2025, issued by M/s. Acuite Ratings & Research Limited, Monitoring Agency, appointed to monitor the utilization of proceeds of the Rights Issue of the Company.

This disclosure will also be hosted on the Company's website viz. www.jaykayenterprises.com.

Kindly take the same on record.

Thanking you For Jaykay Enterprises Limited Shikha Rastogi Company Secretary & Compliance Officer Encl: As above ----------------Page (0) Break---------------- 1 Report Date: August 07, 2025 Name of the issuer : Jaykay Enterprises Limited For quarter ended : Q1 FY 2025-26 Name of the Monitoring Agency : Acuité Ratings and Research Limited (a) Deviation from the objects : We have observed that the utilization of the IPO proceeds remains aligned with the objectives stated in the offer document.

However, the utilization has exceeded the amount originally proposed for certain Objects.

(b) Range of Deviation : We have observed deviations up to 10 – 25% in certain objects.

The breakup of which is given below.

Object Original Cost (INR Cr.) (A) Amount utilised (INR Cr.) (B) Deviation (INR Cr.) (B-A = C) Range of Deviation (C/A= D) JK Defence - Other Miscellaneous 5.43 6.87 1.44 26.61% Issue Expenses 0.82 0.89 0.07 8.05% Total 6.25 7.76 1.51 24.17%* * weighted average of deviation (c) Any other material fact to be highlighted : None (Based on publicly available information) 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. Report of the Monitoring Agency (MA) ----------------Page (1) Break---------------- 2 Report Date: August 07, 2025 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.

Signature: Vikas Mishra Deputy Vice President - Process Excellence Vikas Y Mishra Digitally signed by Vikas Y Mishra Date: 2025.08.07 17:39:54 +05'30' ----------------Page (2) Break---------------- 3 Report Date: August 07, 2025 Name of the issuer : Jaykay Enterprises Limited Names of the promoter: Promoters Mr. Abhishek Singhania Industry/sector to which it belongs : Aerospace & Defense/ Capital Goods Issue Period : August 2024 Type of issue : Rights Issue (Public/Rights/Qualified Institutional Placement) Type of specified securities : Equity Share IPO Grading, if any : Not Applicable Issue size (INR Crore) : INR 146.14 Crores 1. Issuer Details: 2. Issue Details: ----------------Page (3) Break---------------- 4 Report Date: August 07, 2025 Particulars Reply from the issuer Source of information/ certifications considered by Monitoring Agency for preparation of report Comments of the Monitoring Agency Comments the Board of Directors 1. Whether all utilization is as per the disclosures in the Offer Document?

Yes As per the documents provided by the issuer, including Independent Auditors Certificate.

No, We have observed deviations in certain objects.

Please refer to the comments provided under 'Progress in the Objects' for Objects 1.D, 3, and 4. Same has been noted.

This will be utilised for unadjusted amount of GCE and necessary approvals will be taken 2. Whether shareholder approval has been obtained in case of material deviations from expenditures disclosed in the Offer Document?

Not Applicable As per the documents provided by the issuer.

No material deviation is observed.

No Comments 3. Whether the means of finance for the disclosed objects of the issue has changed?

No As per the documents provided by the issuer.

No change is observed.

No Comments 4. Is there any major deviation observed over the earlier monitoring agency reports?

No As per the documents provided by the issuer.

The issuer has not appointed any other Monitoring Agency earlier.

No Comments 5. Whether all Government/statutory approvals related to the object(s) have been obtained?

Not Applicable As per the documents provided by the issuer.

No Government / Statutory approval is required for objects.

No Comments 6. Whether all arrangements pertaining to technical assistance/collaboration are in operation?

Not Applicable As per the documents provided by the issuer.

No arrangement pertaining to technical assistance / collaboration is required with reference to the object.

No Comments 7. Are there any favorable events improving the viability of these object(s)?

Not Applicable As per the documents provided by the issuer.

No favorable event is observed that may improve the viability of these objects.

No Comments 8. Are there any unfavorable events affecting the viability of the object(s)?

Not Applicable As per the documents provided by the issuer.

No unfavorable event is observed affecting the viability of these objects.

No Comments 9. Is there any other relevant information that may materially affect the decision making of the investors?

No As per the documents provided by the issuer.

No relevant information is evident that may materially affect the decision making of the investors.

No Comments 3. Details of the arrangement made to ensure the monitoring of issue proceeds ----------------Page (4) Break---------------- 5 Report Date: August 07, 2025 i. Cost of object(s) Sr. No. Item Head Source of information / certifications considered by Monitoring Agency for preparation of report Original cost (as per the Offer Document) [INR Crore] Revised Cost Comments of the Monitoring Agency Comments of the Board of Directors Reason of Cost revision Proposed financing option Particulars of firm arrangement 1 JK Defence A Purchase of Plant and Machinery As per the documents provided by the issuer.

15.54 - No change is observed.

No Comments No Comments No Comments B Purchase of Land 14.04 - No change is observed.

No Comments No Comments No Comments C Construction of Building 16.56 - No change is observed.

No Comments No Comments No Comments D Other Miscellaneous (including but not limited to pre-liminary regulatory expenses, staffing, marketing etc.) 5.43 - No change is observed.

No Comments No Comments No Comments E Repayment of loan taken by JK Defence 33.00 - No change is observed.

No Comments No Comments No Comments Total 84.56 - 2 JK Digital A Purchase of Plant and Machinery As per the documents provided by the issuer.

36.00 - No change is observed.

No Comments No Comments No Comments B Center of excellence LAB 2.00 - No change is observed.

No Comments No Comments No Comments C Cost 3d Machines and Quality Labs Interior Works 10.00 - No change is observed.

No Comments No Comments No Comments Total 48.00 - 3 General Corporate Expenses As per the documents provided by the issuer.

12.77 - No change is observed.

No Comments No Comments No Comments 4 Issue Expenses 0.82 - No change is observed.

No Comments No Comments No Comments Grand Total (1+2+3+4) 146.14 - 4. Details of object(s) to be monitored: ----------------Page (5) Break---------------- 6 Report Date: August 07, 2025 ii.

Progress in the object(s) Sr. No. Item Heads Source of information / certifications considered by the Monitoring Agency for the preparation of report Amount as proposed in the Offer Documen t [INR Crore] Amoun t raised [INR Crore] Amount utilsed [INR Crore] Total unutilsed amount [INR Crore] Comments of the Monitoring Agency Comments of the Issuer’s Board of Directors As at beginning of the quarter During the quarter At the end of the quarter Reasons for idle funds Proposed course of action 1 JK Defence A Purchase of Plant and Machinery As per the documents provided by the issuer, including Independent Auditors Certificate* 15.54 15.54 - - - 15.54 The company has not utilised any amount towards this object.

No Comments No Comments B Purchase of Land 14.04 14.04 13.87 - 13.87 0.16 The company has utilsed INR 13.87 Crores for Purchase of Land.

No Comments No Comments C Construction of Building 16.56 16.56 - - - 16.56 The company has not utilised any amount towards this object.

No Comments No Comments D Other Miscellaneous (including but not limited to pre-liminary regulatory expenses, staffing, marketing etc.) 5.43 5.43 6.78 0.09 6.87 Nil The company has over utilised the amount proposed in the offer document by INR 1.44 Crores and utilsed funds earmarked for General Corporate Purposes to cover the excess.

No Comments Same has been noted.

This will be utilised for unadjusted amount of GCE and necessary approvals will be taken E Repayment of loan taken by JK Defence 33.00 33.00 33.00 - 33.00 Nil The company has fully utilsed INR 33.00 Crores towards this object.

No Comments No Comments Total -1 84.56 84.56 53.66 0.09 53.74 30.81# 2 JK Digital A Purchase of Plant and Machinery As per the documents provided by the issuer, 36.00 36.00 12.14 7.73 19.87 16.13 The company has utilsed INR 19.87 No Comments No Comments ----------------Page (6) Break---------------- 7 Report Date: August 07, 2025 including Independent Auditors Certificate.

Crores towards this object.

B Center of excellence LAB 2.00 2.00 - 0.07 0.07 1.93 The company has utilsed INR 0.07 Crores towards this object.

No Comments No Comments C Cost 3d Machines and Quality Labs Interior Works 10.00 10.00 - - - 10.00 The company has not utilised any amount towards this object.

No Comments No Comments Total - 2 48.00 48.00 12.14 7.81 19.94 28.06 3 General Corporate Expenses As per the documents provided by the issuer, including Independent Auditors Certificate.

12.77 12.77 9.58 1.60 11.17 0.09 The company has utilsed INR 11.17 Crores towards this object.

This includes expenses incurred for Objects 1D and 4 No Comments No Comments 4 Issue Expenses 0.82 0.82 0.89 - 0.89 Nil The company has over utilised the amount proposed in the offer document by INR 0.07 Crores and utilsed funds earmarked for General Corporate Purposes to cover the excess.

No Comments Same has been noted.

This will be utilised for unadjusted amount of GCE and necessary approvals will be taken Total (1+2+3+4) 146.14 146.14 76.25 9.49 85.75 60.40** *Certificate dated August 05, 2025 issued by M/s P L Tandon & Co.(Firm Registration Number: 000186C), as the Statutory Auditors. **The breakup of the unutilsed amount is as follows: • INR 52.51 Crores deployed as Fixed Deposit. • INR 0.08 Crores available in the escrow account of JK Enterprise • INR 0.26 Crores available in the current account of JK Defence. • INR 7.56 Crores available in the current account of JK Digital. ----------------Page (7) Break---------------- 8 Report Date: August 07, 2025 iii.

Deployment of unutilised IPO/FPO/Rights Issue Proceeds: Sr. No. Type of instrument and name of the entity invested in Amount invested (INR Cr) Maturity date Earning (INR Cr) Return on Investment (%) Market Value as at the end of quarter (INR Cr) 1 Fixed Deposit – SBI 25.00 September 24, 2025 1.49 7.75 26.49 2 Fixed Deposit – SBI 25.00 September 24, 2025 1.49 7.75 26.49 3 Fixed Deposit – SBI 0.01 November 21, 2025 0.00 6.80 0.01 4 Fixed Deposit – SBI (JK Digital) 2.50 August 20, 2025 0.05 5.30 2.55 52.51 3.02 55.53 iv.

Delay in implementation of the object(s): Not Applicable Object(s) Completion date Delay [Number of days or months] Comments of the Issuer’s Board of Directors As per the offer document Actual Reason for delay Proposed course of action - - - - - - ----------------Page (8) Break---------------- 9 Report Date: August 07, 2025 Sr. No. Item Head Amount (INR Cr) Source of information/certifications considered by Monitoring Agency for preparation of report Comments of The Monitoring Agency Comments of the Board of Directors 1 General Corporate Purpose 12.77 As per the documents provided by the issuer, including Independent Auditors Certificate.

The company has utilsed INR 11.77 Crores towards this object.

No Comments Total 12.77 5. Details of utilization of proceeds stated as General Corporate Purpose (GCP) amount in the offer document ----------------Page (9) Break---------------- 10 Report Date: August 07, 2025 Disclaimer: a) This Report is prepared by Acuité Ratings & Research Limited (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 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, 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. ----------------Page (10) Break---------------- 11 Report Date: August 07, 2025 About Acuité Ratings & Research Acuité is a full-service Credit Rating Agency registered with the Securities & Exchange Board of India (SEBI). The company received RBI Accreditation as an External Credit Assessment Institution (ECAI) for Bank Loan Ratings under BASEL-II norms in the year 2012. Acuité has assigned ratings to various securities, debt instruments and bank facilities of entities spread across the country and across a wide cross section of industries.

It has its Registered and Head Office in Kanjurmarg, Mumbai. ----------------Page (11) Break----------------