Please find the Monitoring Agency report for the third quarter ended 31st December, 2025 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.
Awaiting price reaction for this filing.
CARE Ratings, the Monitoring Agency, has confirmed no deviation in the use of proceeds from Kilburn Engineering's Rs. 299.63 crore preferential issue (cash component Rs. 279.66 crore), completed in November 2024. Of the total, Rs. 139.59 crore has been received so far, with Rs. 124.83 crore utilised and Rs. 11.13 crore still to be deployed. The Monga Acquisition (Rs. 123 crore, including Rs. 19.97 crore via share swap) is fully complete, while Long-Term Working Capital usage stands at Rs. 32.18 crore against a target of Rs. 39.63 crore. Capex (Rs. 13 crore), investment in subsidiaries (Rs. 25 crore), and General Corporate Purpose (Rs. 74 crore) have not yet started. Debt repayment of only Rs. 0.75 crore has been done against the Rs. 25 crore target so far. Notably, Rs. 140.07 crore is yet to come in from the conversion of the remaining convertible warrants.
Positive for compliance and transparency — no misuse of funds detected. However, large portions (capex, subsidiary investment, GCP) remain undeployed, and Rs. 140 crore is still pending from warrant conversion, meaning significant capital is yet to be raised and put to work. Investors should watch for timely warrant conversion and progress on the unutilized objects.