M&B Engineering Limited has submitted Monitoring Agency Report for the quarter ended 31st March, 2026
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M & B Engineering Limited submitted its Q4 FY2026 Monitoring Agency Report (Crisil Ratings) for its IPO proceeds. The company raised Rs 2,750 million in its IPO (July-August 2025). As of March 31, 2026, Rs 1,506.81 million (55%) has been utilized out of Rs 2,750 million, with Rs 1,243.19 million remaining. Key utilizations include: Rs 587.50 million fully used for term loan repayment, Rs 641.84 million for general corporate purposes, and Rs 148.73 million for capital expenditure on equipment. A delay exists in capital expenditure deployment—only Rs 790.57 million used against planned Rs 1,129.91 million for FY2026, due to ongoing vendor negotiations. The company procured equipment from different vendors than originally specified in the Offer Document. Rs 1,215.13 million of unutilized IPO funds are parked in fixed deposits (earning 3.25%–6.45%) across Kotak Mahindra, ICICI, Axis, and HDFC banks.
The IPO proceeds utilization is progressing on track for loan repayment and general corporate purposes, but capital expenditure deployment is delayed. The Rs 1.24 billion parked in FDs earns modest returns. Investors should monitor capital expenditure rollout and IT software upgradation (Rs 52 million still unused). No material deviations from offer document objects reported.