Please find enclosed herewith monitoring agency report for the quarter ended December 31, 2025
BBOX · price
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Black Box Limited has submitted the quarterly Monitoring Agency Report from CARE Ratings Limited for its Rs. 386.36 crore preferential issue of convertible warrants (originally Rs. 410 crore, reduced due to undersubscription). Of the Rs. 165.54 crore received so far, Rs. 143.30 crore has been utilized, with Rs. 22.24 crore remaining unutilized and parked in fixed deposits with Bank of Maharashtra and an HDFC monitoring account. Utilization was split across investment in subsidiaries (Rs. 71.70 cr used during the quarter, revised target Rs. 241.36 cr), general corporate purposes (Rs. 40.18 cr fully used, revised target Rs. 45 cr), and working capital (Rs. 31.42 cr used, new Rs. 100 cr object added via special resolution on March 19, 2025). CARE Ratings confirmed no deviation from the revised objects, no major deviation from earlier reports, and that shareholder approval was obtained for the revised object allocation.
The report shows on-track deployment of preferential warrant proceeds with no material deviation, which is neutral to positive for shareholders. The unutilized Rs. 22.24 crore is earning interest in fixed deposits, and the company still has Rs. 220.82 crore to receive from warrant conversions over the coming quarters.