Statement of Deviation or Variation for the Quarter ended September 30, 2025
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Kinetic Engineering filed a routine quarterly compliance statement confirming no deviation or variation in the use of funds raised through a preferential issue of convertible warrants. The company has received Rs. 61.84 crore so far out of the total issue size of Rs. 166.84 crore, with the remaining Rs. 105 crore expected within 18 months from the date of allotment. Funds already deployed include Rs. 19.64 crore for redemption of preference shares (fully utilized), Rs. 4.82 crore for overdue liabilities, and Rs. 20 crore invested as equity in subsidiary Kinetic Watts and Volts Limited via a rights issue. No utilization happened during the quarter for the remaining allocations of Rs. 12 crore (capex including solar project), Rs. 8 crore (working capital, revised from Rs. 10.10 crore), and Rs. 1.84 crore (general corporate purposes, revised from Rs. 10 crore). The Board had approved a revised fund utilization plan on May 13, 2025, and CARE Ratings Limited is acting as the monitoring agency.
This is a routine compliance filing with no negative flag—no misuse or deviation has been reported. However, shareholders may note the slow deployment pace, with most allocated funds for capex, working capital, and subsidiary growth yet to be utilized, meaning the full impact of the fundraising on business expansion is still pending.