Monitoring Agency Report for the quarter ended September 30, 2025
ABFRL · price
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Aditya Birla Fashion and Retail Limited (ABFRL) has filed the Monitoring Agency Report for Q2 FY26, prepared by ICRA Limited, for its Preferential Issue of Rs. 2,378.75 crore. As of September 30, 2025, the company has utilized Rs. 1,263.73 crore of the total proceeds, leaving Rs. 1,115.02 crore unutilized. The full Rs. 1,185 crore earmarked for repayment of borrowings of the demerged ABFRL has been deployed. However, only Rs. 22.97 crore (about 3.8%) of the Rs. 600 crore allocated for capex and opex across high-growth businesses (Pantaloons, Style Up, ethnic wear, luxury retail) has been spent so far. The unutilized funds are parked in money market funds, debt index funds, and a Federal Bank fixed deposit, earning returns between 5.56% and 8.04%. ICRA confirmed no deviation from the stated objects and noted that all implementations are on schedule for completion in Fiscal 2026.
This is a routine compliance filing that confirms funds are being used as promised without any deviation. The slow deployment of capex/opex funds may draw attention to execution timelines, though the idle money is earning reasonable market returns in the interim. No material negative signal for shareholders, but investors may want to track whether growth-related spending picks up in coming quarters.