Monitoring Agency Report for the quarter ended March 2026
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CRISIL Ratings Limited has released the monitoring agency report for Allcargo Terminals Limited's Rights Issue of 3,97,98,999 partly paid equity shares at Rs 20 per share, raising gross proceeds of Rs 7,959.80 lakhs. The issue ran from November 24 to December 9, 2025. As of March 31, 2026, only Rs 1,492.46 lakhs (approximately 19%) has been utilized: Rs 497.49 lakhs for loan repayment and Rs 994.97 lakhs for general corporate purposes covering rental payments to related parties (Allcargo Logistics Limited for Kolkata CFS and Transindia Real Estate Limited for JNPT CFS). The expansion of container storage and handling capacity remains completely unutilized with Rs 3,979.90 lakhs still pending deployment. No deviations from the disclosed objects or material deviations have been observed, and there is no delay in implementation.
The report indicates slow deployment of rights issue proceeds with 81% of funds still unutilized. No red flags on compliance or deviation, but shareholders should note that expansion plans have not yet begun deployment as of Q4 FY26.