Confidence Petroleum India Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
CONFIPET · price
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Confidence Petroleum India has filed a quarterly statement confirming there is no deviation or variation in the use of Rs. 250.11 crore raised through a preferential issue in February 2024. As of March 31, 2025, the company has utilized Rs. 155.46 crore (about 62% of the total) entirely toward the originally stated capex purposes. Of this, Rs. 46.65 crore went to Auto LPG, Rs. 45.24 crore to Pack LPG Cylinder, Rs. 43.05 crore to CNG segment, and Rs. 20.51 crore to general corporate purposes. Care Ratings Ltd, the independent monitoring agency, has not flagged any concerns, and neither the audit committee nor auditors have raised any objections.
This is a routine regulatory compliance filing with no negative findings, supporting confidence in the company's fund management discipline. The remaining unutilized ~Rs. 95 crore is still available for the announced capex plans across LPG and CNG segments, which could support future capacity expansion.