Coromandel Engineering Company Limited submitted a regulatory compliance statement to BSE Limited pursuant to Regulation 32 of SEBI Listing Regulations and relevant SEBI Circulars.
The disclosure confirms that there is no deviation or variation in the use of proceeds from the allotment of 16,49,840 (Sixteen lakhs Forty-Nine Thousand Eight Hundred and Forty) equity shares issued on a preferential basis on 8th May 2025. The total amount raised was ₹6,60,76,092.
For the quarter ended 30th September 2026, the company reported zero fund utilization (₹0) from these proceeds. The statement confirms no deviation from the original objects of the issue.
The original purpose of the funds was allocated towards corporate general purposes, upcoming projects, and execution of Bank Guarantee, Performance Guarantee, and Advances in respect to the projects. There were no modified objects or allocations.
The Audit Committee reviewed and approved this no-deviation statement at its meeting held on 14th November 2026. The statement was digitally signed by G V Manimaran, Chairman and Managing Director (DIN: 09707546), and the submission was made by A K Baby Ismath Razack, Chief Financial Officer.
No approval was required to vary the objects of the issue, and no comments from auditors were provided as the situation was not applicable.