Please find the Monitoring Agency Report for the quarter ended 31st March, 2026 issued by Care Ratings Limited
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CARE Ratings Limited has submitted the monitoring agency report for Kilburn Engineering Ltd's Rs. 299.63 crore preferential issue (November 2024). The report confirms no deviation in fund utilization - all proceeds are being used as per disclosed objects. Out of Rs. 279.66 crore cash consideration, Rs. 156.09 crore (56%) has been utilized by March 31, 2026. Monga acquisition is complete (Rs. 103.03 crore), debt repayment at Rs. 11.08 crore, capex at Rs. 1.49 crore, subsidiary investment at Rs. 6 crore, and working capital at Rs. 34.49 crore. General Corporate Purpose funds (Rs. 74 crore) remain completely unutilized. CARE Ratings flagged a comingling concern where funds were routed through cash credit accounts before being used for intended purposes. The company also disclosed a Rs. 25 crore corporate guarantee given for a subsidiary's bank facilities.
Positive signal for shareholders - funds are being deployed as planned with no material deviation. The comingling issue flagged by CARE is a procedural concern but doesn't indicate misuse. The Rs. 17.76 crore unutilized balance suggests ongoing deployment.