Monitoring Agency Report for the Quarter ended 31st March, 2026
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Beta Drugs Limited has filed its Q4 FY2026 monitoring agency report for the Rs 117.01 crore preferential issue (November 2024). Of the total proceeds, only Rs 20.07 crore (17%) has been utilized so far, with Rs 96.94 crore remaining unutilized and parked in fixed deposits with HDFC Bank and ICICI Bank. Funds have been deployed toward facility upgradation of two subsidiaries (Rs 3.60 crore), R&D facility (Rs 0.95 crore), capital expenditure (Rs 9.52 crore), and general corporate purposes including debt repayment (Rs 3.09 crore in Q4). No deviations from the offer document objects have been reported, and all projects remain on track with no delays noted.
The slow utilization pace (17% deployed in 16 months) is typical for capital expenditure-heavy projects with 24-month timelines. No red flags for shareholders as the unutilized funds are safely deployed in bank fixed deposits earning 5.5-6.6% interest. The GCP funds being used for debt repayment is a positive signal for balance sheet improvement.