Monitoring Agency Report for the quarter ended June 30, 2025
ARTEMISMED · price
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Artemis Medicare Services Limited submitted the Monitoring Agency Report for Q1 FY26 (quarter ended June 30, 2025), prepared by CARE Ratings Limited. The report tracks the use of proceeds from a Rs. 330 crore Preferential Issue of Compulsorily Convertible Debentures, of which Rs. 320 crore is earmarked for acquisition, expansion and capital expenditure, and Rs. 10 crore for general corporate purposes. During the quarter, the company utilized Rs. 54 crore towards expansion purposes and Rs. 7.94 crore remained unspent from the general corporate purpose allocation. The unutilized Rs. 268.06 crore has been parked in fixed deposits with HDFC, ICICI and Axis Bank, earning Rs. 2.61 crore in interest. The monitoring agency confirmed no deviation from the stated objects, no changes in means of finance, and no major deviations from earlier reports, with project completion targeted by May 15, 2026.
The report provides assurance to shareholders that the Rs. 330 crore raised is being deployed as promised, with the majority still parked safely in bank fixed deposits earning interest. Active deployment of Rs. 54 crore into expansion signals progress on the company's growth plans, which is mildly positive for long-term investors.