HFCL Ltd

In terms of Regulations 32(6) of the SEBI Listing Regulations read with Regulation 173A(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018 (SEBI ICDR Regulations) please find enclosed the Monitoring Agency Report for the quarter ended March 31 2025 issued by CARE Ratings Limited Monitoring Agency appointed to monitor the utilisation of proceeds raised through issuance of equity shares by way of Qualified Institutions Placement.