Monitoring Agency report for the Quarter and Year ended March 31, 2026.
EXCELSOFT · price
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Excelsoft Technologies, a newly listed IT services company (IPO in November 2025), has submitted its Q4FY26 monitoring agency report by CARE Ratings Limited. The Rs.180 crore IPO proceeds show total utilization of Rs.66.57 crore with Rs.113.43 crore remaining unutilized as of March 31, 2026. The report notes delays in three spending categories: facility upgradation (Rs.39.51 crore, zero spent), IT infrastructure (Rs.10.69 crore of Rs.54.63 crore spent), and general corporate purposes (Rs.7.79 crore of Rs.8.98 crore spent). The company obtained board approval on March 27, 2026 to extend timelines to FY2027. Unutilized funds are parked in ICICI Bank fixed deposits earning 2.75-5.50% interest. CARE Ratings confirms no deviation from stated objects but flagged the delays.
The delays in fund utilization for facility and IT upgrades are not material deviations but indicate slower-than-planned deployment. Shareholders should note the Rs.113 crore still deployed in fixed deposits and the extended timelines for capital expenditure projects. This is a routine compliance filing with no immediate shareholder concern.