Statement of Deviation and variation for the quarter ended June 2025
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Coromandel Engineering Company has confirmed there is no deviation or variation in the use of funds raised through a preferential allotment of 16,49,840 equity shares made in May 2025. The company raised ₹6.61 crore through this preferential issue and has utilized ₹6.22 crore as of June 30, 2025. The funds were used for general corporate purposes, upcoming projects, and execution of bank/performance guarantees and project advances, exactly as originally planned. The Audit Committee reviewed and approved this statement at its meeting on August 13, 2025.
This is a routine compliance filing that reassures shareholders that the company has used the money raised from the preferential issue strictly for the stated purposes with no misuse. It maintains transparency and governance credibility, with no material impact expected on the stock price.