HSCL Q1 FY27 monitoring report: warrant proceeds used as planned

ICRA's monitoring report for Q1 FY2027 confirms Himadri Speciality Chemical used proceeds from its Rs 341.82 Cr preferential warrant issue in line with stated objects, with no deviations. Of the total, Rs 256.82 Cr was earmarked for capex and Rs 85 Cr for general corporate use. As of 30 June 2026, Rs 267.92 Cr has been deployed, Rs 185.06 Cr on capex and Rs 82.87 Cr on working capital. The unutilized Rs 73.90 Cr is parked in mutual funds (Rs 70 Cr) and a cash credit account (Rs 3.90 Cr). Implementation is on schedule with no delays or unfavourable events.