Statement of Deviation and Variation for the half year ended on September 30, 2024
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Gabriel Pet Straps has confirmed there is no deviation or variation in the use of proceeds from its public issue and preferential issue for the half year ended September 30, 2025. From the public issue of Rs. 8.06 crore (allotted February 2024), the company has fully utilized funds for land acquisition (Rs. 1.98 crore) and general corporate purposes (Rs. 1.42 crore), while partial utilization has been made for loan repayment (Rs. 1.47 crore of Rs. 1.73 crore) and the solar power plant capex (Rs. 0.75 crore of Rs. 2.93 crore). The full Rs. 40.26 crore raised via preferential issue (allotted February 2025) has been utilized for working capital and general corporate purposes. No monitoring agency was applicable, and the audit committee and auditors have raised no comments.
This is a routine SEBI compliance filing confirming funds are being used as originally disclosed, with no misuse or change in purpose. It is neutral for shareholders but reinforces transparency and governance, which mildly supports investor confidence.