Monitoring Agency Report on Statement for utilization of proceeds of Preferential Issue of Knowledge Marine & Engineering Works Limited for the quarter ended March 31, 2026 for your records.
KMEW · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Knowledge Marine filed its quarterly monitoring report for a Rs. 284.81 crore preferential issue completed in October 2025. The report by CARE Ratings shows Rs. 13.63 crore (4.8%) has been utilized by March 31, 2026: Rs. 4.80 crore for working capital/ship building expenses and Rs. 8.83 crore as advance payments for vessel construction and purchase. The remaining Rs. 260.07 crore (91.5%) sits in fixed deposits with Bandhan Bank, Yes Bank, and HDFC Bank earning 6.22-7.20% interest. The monitoring agency flagged commingling of funds as proceeds were transferred from the MA account to current/cash credit accounts containing other transactions. No deviations from offer document objects were reported. Implementation timeline remains within 3 years from fund receipt.
Low direct impact as funds are being deployed per disclosed objects. However, the slow utilization pace (only 4.8% in first quarter) and commingling of funds flagged by the monitoring agency may draw scrutiny from auditors or regulators regarding fund deployment controls.