Attached herewith the financial results for quarter and nine months ended December 31, 2025
DIVGIITTS · price
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Divgi TorqTransfer Systems has filed the ICRA Monitoring Agency Report on how it has used the money raised from its March 2023 IPO. Total fresh issue net proceeds stood at Rs. 169.66 crore (slightly higher than the original Rs. 168.43 crore due to lower issue expenses). Of this, Rs. 150.71 crore was meant for buying machinery and equipment for manufacturing, and Rs. 18.96 crore for general corporate purposes. As of December 31, 2025, the company has used Rs. 70.59 crore on capex and Rs. 18.83 crore on general purposes, leaving Rs. 80.24 crore unspent. The idle funds have been parked in fixed deposits with SBI and HDFC Bank earning around Rs. 4.47 crore in interest, with a current market value of Rs. 105.15 crore. Capex deployment is behind schedule due to supplier delays and extended negotiations, with the remaining Rs. 80.11 crore now expected to be deployed in FY27 instead of the original FY25 target.
No material deviation in usage of IPO funds, which is a positive signal for shareholders. However, the significant delay in deploying capex proceeds (now pushed to FY27) means the company is not yet deriving full benefit from the expansion plans, which could weigh on near-term growth visibility. Idle funds are safely parked in bank FDs earning decent interest, softening the impact of the delay.