Statement of Deviation(s) or Variation(s) in utilisation of funds raised through Preferential Issue for the quarter ended March 31, 2026.
DRCSYSTEMS · price
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DRC Systems India Ltd has filed a statement confirming no deviation or variation in the utilisation of Rs. 25 crore raised through a Preferential Issue completed on October 28, 2025. The funds have been fully deployed across four stated purposes: Rs. 2 crore for working capital, Rs. 13 crore for prepayment/repayment of liabilities, Rs. 3.75 crore for investments including subsidiaries, and Rs. 6.25 crore for general corporate purposes. The Audit Committee reviewed and the Board of Directors approved the utilisation report on May 18, 2026. Since all proceeds have been fully utilised, the company will not submit further quarterly utilisation statements.
The clean utilisation report with no deviations is a positive signal for shareholders as it demonstrates the company followed through on its stated objectives. Full deployment of Rs. 25 crore also indicates the capital is being actively deployed for operational growth.