Statement of Deviation and variation for the year ended March 31, 2026
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Icon Facilitators Limited, an electrical maintenance services company, reported audited financial results for FY2026. Total income grew to Rs. 5,853.13 lakhs from Rs. 5,186.55 lakhs in the previous year, while profit before tax stood at Rs. 595.79 lakhs compared to Rs. 602.68 lakhs in FY2025 — showing revenue growth but slight profit decline. Basic EPS (after bonus effect) is Rs. 3.84. The company listed on BSE SME platform in July 2024 raising Rs. 19.11 crores through IPO. Of the IPO proceeds, Rs. 13.74 crores has been utilized for working capital (Rs. 13.74 crores of Rs. 16.00 crores allocated) with Rs. 4.26 crores remaining in fixed deposits as of March 31, 2026. The statement of deviation confirms no deviation in the use of IPO funds from the original objects disclosed in the prospectus. A new internal auditor, M/s Priyansh Singhal & Associates, was appointed for FY2026-27. The audit report is unmodified.
The company shows steady revenue growth but marginal profit decline year-on-year. The IPO fund utilization statement shows no deviation, which is a positive compliance signal. Unmodified audit opinion adds credibility. The unutilized IPO proceeds deployed in fixed deposits show prudent temporary deployment.