Monitoring Agency Reports for the quarter ended March 31, 2025
E2E · price
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Awaiting price reaction for this filing.
E2E Networks has filed Monitoring Agency Reports from CARE Ratings for two preferential issues totaling Rs. 1,484.94 crore (Rs. 405.66 crore allotted in September 2024 and Rs. 1,079.28 crore allotted in December 2024). In Q4 FY25, the company utilized Rs. 30.47 crore from the first issue (mainly Rs. 23.41 crore for IT equipment) and Rs. 35.53 crore from the second issue (Rs. 21.28 crore for loan repayment, Rs. 7.76 crore for working capital, Rs. 6.49 crore for IT equipment). As of March 31, 2025, total unutilized funds stood at Rs. 305.64 crore and Rs. 962.47 crore respectively, deployed in bank fixed deposits and mutual funds earning 7.16%–7.88% returns. The Monitoring Agency confirmed no material deviation from stated objects, though it flagged a minor Rs. 0.98 crore cross-utilization between the two issues' monitoring accounts, which was reimbursed the next working day. Mutual fund deployment (Rs. 212.47 crore) was later ratified by the board in January 2025.
Routine compliance filing with no negative findings. Shareholders can take comfort that funds are being used as promised, with idle proceeds safely parked in interest-bearing deposits. The slow utilization pace (only ~15% deployed so far across both issues) reflects long-dated capital expenditure plans extending to 2027–2029 and is not a red flag.