Monitoring Agency Report for the Quarter ended March 31, 2026
JAYKAY · price
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Jaykay Enterprises, an aerospace and defence company, has submitted its Q4 FY2025-26 monitoring agency report for its August 2024 Rights Issue of INR 146.14 crore. Of the total proceeds, INR 133.03 crore (91%) has been deployed, leaving INR 13.11 crore unutilised (held as fixed deposits and escrow/current accounts). The monitoring agency flagged delays in deployment of funds for JK Defence's plant and machinery (INR 1 crore idle) and JK Digital's 3D machines and quality lab interiors (INR 7.18 crore idle), both of which were supposed to be fully deployed by March 31, 2026. JK Defence's loan repayment also shows incomplete utilisation despite a cost revision approved by shareholders. No material deviation from the offer document is observed, and all cost revisions were approved at the AGM in September 2025.
The unutilised INR 13.11 crore sitting largely as fixed deposits indicates slower-than-planned execution of the company's capital expenditure plans. While no deviation is formally reported, investors should monitor the pace of JK Digital's lab setup and JK Defence's machinery deployment, as delays in defence projects can affect future revenue visibility.