JGCHEM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
J.G. Chemicals Limited has submitted its Q4 FY2026 Monitoring Agency Report filed by ICRA Limited. The company has utilized Rs. 131.466 crore out of Rs. 165 crore in IPO proceeds, leaving Rs. 33.53 crore unutilized. The R&D Centre project (originally planned to be funded with Rs. 6.058 crore by March 2026) has only seen Rs. 1.796 crore deployed, with Rs. 4.262 crore remaining unspent due to delays in construction and equipment procurement. The Board has extended the deployment timeline to FY2027. ICRA noted that procurement purchases do not align with vendor specifications outlined in the prospectus, though the prospectus allows management flexibility. The unutilized funds are parked in Fixed Deposits with HDFC and Kotak Mahindra Bank, earning returns between 6-7.05%. All other objects — borrowings repayment (Rs. 25 crore completed), working capital funding, and general corporate purposes (Rs. 23.27 crore) — are on track or completed.
The delay in R&D Centre deployment is a minor concern — the company remains within permissible deviation limits and the objects of the issue remain unchanged. The unutilized funds are safely parked in FDs earning interest, so no misuse of proceeds is flagged. Shareholders should note the timeline extension and ICRA's observation on vendor specification misalignment.