Monitoring Agency Report for the quarter ended March 2026
CARYSIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
ICRA Limited has submitted its final Monitoring Agency Report for Carysil Limited's QIP proceeds for Q4 FY2026 (quarter ended March 31, 2026). The QIP raised Rs. 125 crore (net proceeds Rs. 121.65 crore) in July 2024. Of the three use-of-funds categories: working capital (Rs. 31.25 crore) and general corporate purposes (Rs. 27.90 crore) are fully utilized, while capital expenditure for new manufacturing facilities shows Rs. 28.71 crore utilized out of Rs. 62.50 crore, with Rs. 33.79 crore remaining unutilized. The Board approved a timeline extension for capex utilization from March 31, 2026 to March 31, 2027. The unutilized funds are deployed in HDFC Bank fixed deposits (Rs. 32.50 crore) and cash credit account (Rs. 1.29 crore). No material deviations from the offer document objects were reported.
The QIP funds are being utilized largely as intended, with only a minor revision to general corporate purposes (increased issue expenses by Rs. 0.05 crore). The capital expenditure delay is significant but has received Board approval, suggesting the expansion plans are progressing albeit on a revised timeline. Shareholders should note that nearly 28% of QIP proceeds remain unutilized as of March 2026.