Statement of Deviation or Variation in Utilization of Funds Raised
Price
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Darjeeling Industriies Limited has filed its audited financial results for FY2026 along with a fund utilization statement for its preferential issue of convertible warrants. The company raised Rs. 606.31 lakhs through two warrant conversion tranches in October 2025 (Rs. 226.80 lakhs) and January 2026 (Rs. 379.51 lakhs), both at Rs. 16.80 per share. The funds have been deployed as stated - Rs. 170.10 lakhs and Rs. 283.33 lakhs towards working capital, and Rs. 56.70 lakhs and Rs. 94.88 lakhs for general corporate purposes. No deviation was reported. Financially, the company reported a strong turnaround with revenue growing to Rs. 445.92 lakhs (vs Rs. 91.01 lakhs) and net profit of Rs. 169.87 lakhs (vs loss of Rs. 26.69 lakhs in prior year). EPS stands at Rs. 3.83.
The company has demonstrated successful warrant conversion and proper fund deployment without deviation. The turnaround from loss to profit and 5x revenue growth indicates operational improvement, which could be positive for shareholder sentiment.