Statement of Deviation of Variation for the quarter ended 31st March, 2026
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JHS Svendgaard Retail Ventures has filed its quarterly fund utilization statement for two preferential issues. The company raised Rs. 38.85 crores in September 2024 and an additional Rs. 13.14 crores in March 2025, totaling Rs. 52.99 crores. For the first tranche, Rs. 13.85 crores has been deployed so far, primarily toward operational capabilities (Rs. 13.10 crores) and working capital (Rs. 0.50 crore). The second tranche of Rs. 13.14 crores remains completely undeployed with zero utilization reported. No deviation or variation in fund usage was identified, and the audit committee and auditors have both provided NIL comments.
The company is sitting on a large unutilized portion of funds, particularly from the March 2025 issuance, which may raise questions about deployment pace unless the capital is earmarked for future acquisitions or expansion opportunities.