Condition monitoring (CM) plays a crucial role in ensuring reliability and efficiency in the process industry. Although computerised maintenance systems effectively detect and classify faults, tasks like fault severity estimation, and maintenance decisions still largely depend on human expert analysis. The analysis and decision making automatically performed by current systems typically exhibit considerable uncertainty and high false alarm rates, leading to increased workload and reduced efficiency. This work integrates large language model (LLM)-based reasoning agents with CM workflows to address analyst and industry needs, namely reducing false alarms, enhancing fault severity estimation, improving decision support, and offering explainable interfaces. We propose MindRAG, a modular framework combining multimodal retrieval-augmented generation (RAG) with novel vector store structures designed specifically for CM data. The framework leverages existing annotations and maintenance work orders as surrogates for labels in a supervised learning protocol, addressing the common challenge of training predictive models on unlabelled and noisy real-world datasets. The primary contributions include: (1) an approach for structuring industry CM data into a semi-structured multimodal vector store compatible with LLM-driven workflows; (2) developing multimodal RAG techniques tailored for CM data; (3) developing practical reasoning agents capable of addressing real-world CM queries; and (4) presenting an experimental framework for integrating and evaluating such agents in realistic industrial scenarios. Preliminary results, evaluated with the help of an experienced analyst, indicate that MindRAG provide meaningful decision support for more efficient management of alarms, thereby improving the interpretability of CM systems.