Monitoring Agency Report for the quarter ended 31st March, 2026.
HPAL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
HP Adhesives received its Q4 FY26 monitoring report from ICICI Bank Limited regarding utilization of IPO proceeds raised in December 2021 (issue size Rs 1134.3 million). Of the total Rs 966.91 million raised for three objects, Rs 965.51 million has been utilized with only Rs 1.39 million remaining unutilized (capital expenditure component). The working capital funding (Rs 540 million) and general corporate purposes (Rs 171.82 million) are fully deployed. The capital expenditure for proposed expansion (Rs 255.09 million) saw a significant 24-month delay, with original target being FY2024 but completed only in Q4 FY2026 due to equipment delivery delays, testing issues, and seasonal factors. The monitoring agency confirms no deviation from stated objects and no material changes to means of finance.
No immediate shareholder concern as all IPO proceeds are substantially deployed with only Rs 1.39 million pending. The capex delay has been resolved with expansion completed by March 2026. No adverse impact on capacity additions reported.