Please find intimation with respect to Monitoring Agency Report.
ASIANTILES · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Asian Granito India Ltd submitted its Q4 FY2026 Monitoring Agency Report by ICRA Limited for its Rs 422.17 crore Rights Issue (opened April 2022). The report confirms no material deviation in fund utilization, though changes were made with shareholder approval via Postal Ballot in February 2023. Key deployments include Rs 173.37 crore for Future Ceramic and Rs 45.26 crore for AGL Sanitaryware (both completed), Rs 30 crore working capital, and Rs 94.75 crore for general corporate purposes. A notable concern is the Display Centre cum Office project at Ahmedabad where Rs 73.80 crore has been transferred but construction is yet to start due to contractor disputes. The company initially paid Rs 69 crore advance to one EPC contractor (terminated in Q4FY25), then transferred funds to a new vendor. Rs 0.285 crore is pending recovery. Rs 5 crore remains unutilized, invested in IndusInd Bank fixed deposits earning 6.50%.
Shareholders should note that while the manufacturing projects are complete, the Display Centre project has suffered delays exceeding 12 months due to contractor issues. The Rs 5 crore unutilized balance is parked safely in fixed deposits, indicating no immediate deployment pressure.