EPACK Durable Limited has informed the Exchanges about the Monitoring Agency Report for the Quarter ended March 31, 2026.
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EPACK Durable Limited has submitted its Q4 FY2026 monitoring agency report for IPO proceeds utilization. The IPO (January 2024) raised INR 640.053 crore with net proceeds of INR 379.436 crore. As of March 31, 2026, INR 295.829 crore has been utilized, leaving INR 83.607 crore unutilized. The company has declared full utilization, though the report shows remaining funds. Key observations include: (1) funds were reallocated from Bhiwadi facility to Sri City facility per shareholder resolution dated July 10, 2025; (2) INR 105.94 crore was paid to a related party vendor for materials, which deviates from prospectus vendor specifications but ICRA notes this is permitted as estimates are subject to change; (3) all three objects (capex, loan repayment, GCP) are marked as completed. ICRA confirms no material deviation from objects.
The monitoring report shows minor deviations in fund utilization that were approved by shareholders. The related party payment of INR 105.94 crore may raise minor concerns but is within prospectus flexibility clauses. No material impact on stock expected as utilization is substantially complete and all projects completed.