Monitoring Agency report for the Quarter and Year ended March 31, 2026.
EXCELSOFT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Excelsoft Technologies, an IT services company, submitted its Q4FY26 monitoring agency report for its Rs.180 crore IPO (Nov 2025). CARE Ratings, the appointed monitoring agency, confirmed no material deviation in fund utilization. However, delays exist in three areas: electrical systems upgradation (Rs.39.51 crore completely unutilized due to regulatory approval delays), IT infrastructure (Rs.43.94 crore unutilized due to non-availability as per requirements), and general corporate purposes (Rs.1.19 crore unutilized). The company spent Rs.21.27 crore during Q4, bringing total utilization to Rs.66.57 crore (37%) with Rs.113.43 crore remaining. The Board approved timeline extensions to FY2027 for delayed objects. Unutilized funds are parked in ICICI Bank fixed deposits (Rs.112 crore) earning 3.75%-5.50% interest.
The delays in capital deployment, while not qualifying as material deviations, suggest slower-than-expected execution of expansion plans. Investors should monitor progress on the Rs.39.51 crore electrical upgradation and Rs.43.94 crore IT infrastructure projects in coming quarters as these are critical for growth.