PFA Monitoring Agency Report for the quarter ended 31/03/2026.
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CARE Ratings Limited has submitted its monitoring report for Jainex Aamcol's Rs. 8.98 crore Rights Issue (December 2025). Out of total proceeds, Rs. 7.99 crore (89%) has been utilized by end of Q4FY26, leaving Rs. 0.99 crore idle in a dedicated ICICI Bank account. The expansion program (originally to be completed by March 31, 2026) has been delayed by approximately one month to April 30, 2026 due to vendor changes. The company also revised its cost allocation, reducing the secured loan repayment allocation by Rs. 1.92 crore and increasing unsecured loan repayment and expansion funding. Formally, no deviation from objects has been declared. Of the Rs. 8.98 crore raised, Rs. 1.55 crore was adjusted against unsecured loans payable to related parties rather than received in cash.
The delay in expansion program utilization and reallocation of funds away from secured loan repayment indicates slower-than-planned deployment of rights issue proceeds. Shareholders should note that Rs. 0.99 crore remains unutilized and the expansion timeline has been pushed beyond the original March 2026 deadline.