Key Compliance Confirmation
The company confirms that during the quarter ended June 30, 2026, there was no deviation or variation in the utilization of proceeds (₹40.30 crore) received from the issuance of Convertible Share Warrants from the objects stated in the:
- Original Notice dated April 3, 2025 calling Extra-ordinary General Meeting (EGM) on May 3, 2025
- Corrigendum to EGM notice dated April 24, 2025
Fund Utilization Details
The funds raised on May 23, 2025 (₹40.30 crore) were fully utilized according to the original objects:
| Purpose | Original Allocation (₹ Crore) | Funds Utilized (₹ Crore) | Deviation |
| Debt Reduction (repayment/reduction of debt including interest) | 17.50 | 17.50 | Nil |
| Working Capital needs | 7.80 | 7.80 | Nil |
| Capital Expenditure (acquire, upgrade, expand Plant & Machinery) | 5.00 | 5.00 | Nil |
| General Corporate Purposes (up to 25% of proceeds) | 10.00 | 10.00 | Nil |
| Total | 40.30 | 40.30 | Nil |
Governance Review
- The statement has been duly reviewed by the Audit Committee and Board of Directors of the Company
- Audit Committee comments: No Comments
- Auditor comments: No Comments
Monitoring Agency
India Ratings & Research Private Limited