Monitory Agency Report for the Quarter Ended June 30, 2025
E2E · price
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E2E Networks Limited has submitted Monitoring Agency Reports from CARE Ratings Limited for Q1FY26, covering 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. During Q1FY26, the company utilized Rs. 186.02 crore from the first issue, mainly for IT equipment (Rs. 179.20 crore) and lease rentals (Rs. 6.82 crore), taking cumulative utilization to Rs. 286.04 crore. From the second issue, it deployed Rs. 698.19 crore in the quarter, including Rs. 690.71 crore on IT equipment, Rs. 1.20 crore to fully repay outstanding loans, and Rs. 5.87 crore for working capital, bringing cumulative use to Rs. 815.00 crore. CARE Ratings confirmed there is no deviation from the stated objects for either issue, with unutilized amounts of Rs. 119.62 crore and Rs. 264.28 crore parked in bank fixed deposits, a liquid mutual fund, and a monitoring account. Issue-related expenses are fully spent, while the General Corporate Purposes allocation of Rs. 97.85 crore (Issue 1) and Rs. 150 crore (Issue 2) remains largely untouched.
The clean report with no deviations and steady progress on IT capex and debt repayment is a positive governance signal for shareholders. The sizeable unutilized portion still sitting in fixed deposits and the slow drawdown of General Corporate Purposes may, however, raise questions about capital deployment speed and efficiency.