Please find attached Monitoring Agency Report for the quarter ended March 31, 2026
HCC · price
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CARE Ratings Limited, as Monitoring Agency, has submitted its Q4 FY26 (quarter ended March 31, 2026) report for HCC's Rs. 999.99 crore Rights Issue completed in December 2025. Out of total proceeds, Rs. 995.52 crore (99.5%) has been utilized across five stated objects. Full deployment has been achieved for loan repayment (Rs. 625 crore) and JV investment in Prolific Resolution Private Limited (Rs. 200 crore). Working capital utilization stands at Rs. 98.76 crore with Rs. 1.24 crore remaining idle, while Rs. 33.35 crore was deployed for General Corporate Purpose against a budget of Rs. 35.54 crore. The monitoring agency noted a delay in implementation of certain objects compared to the offer document timeline, though no material deviation exceeding 10% of projected expenditure was observed.
The Rights Issue proceeds are largely deployed as intended with no material deviation from the offer document objects. Minor delays in working capital and GCP utilization are flagged but do not require shareholder approval. The small unutilized balance of Rs. 4.47 crore remains in the monitoring account.