Statement of Deviation and Variation for the quarter ended 31.03.2026
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Expo Engineering and Projects Ltd has filed a NIL statement of deviation for the quarter ended March 2026 regarding utilization of proceeds from a preferential issue of convertible warrants. The company raised Rs. 22.02 crore through 31,45,715 convertible warrants at Rs. 70 per warrant in September 2025. So far, only 25% upfront consideration of Rs. 5.50 crore has been received, with the balance 75% payable upon conversion within 18 months. Of the funds raised, Rs. 4.69 crore has been utilized: Rs. 0.87 crore towards working capital and Rs. 3.82 crore remains unutilized for this purpose. No funds have been deployed for general corporate purposes or debt repayment yet. The audit committee has confirmed there is no deviation or variation in fund utilization.
The NIL deviation statement is positive for shareholders as it confirms proper fund deployment without any diversion from stated objects. The slow utilization (only 21% deployed) suggests funds are being used as per plan, with the majority still pending deployment for debt repayment and general corporate purposes.