Please find enclosed Statement of Deviation and Variation under Regulation 32 of SEBI(Listing Obligations & Disclosure Requirement) Regulations, 2015 for quarter ended 31.03.2025.
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Awaiting price reaction for this filing.
Modern Dairies Ltd has filed a compliance statement confirming that funds raised during Q4 FY25 were used as originally intended, with no deviation. Through a preferential issue on 13 March 2025, the company raised Rs 10.75 crore (Rs 1,075 lakhs), which is part of a larger Rs 43 crore capital strengthening plan, and the entire amount was utilised in the quarter. Separately, Rs 8.625 crore (Rs 862.50 lakhs) was raised on 20 March 2025 via conversion of warrants into equity shares, of which Rs 2.47 crore (Rs 247.20 lakhs) was utilised in the quarter. The statement was reviewed by the Audit Committee and Board on 27 May 2025, with no comments or adverse observations from either the Audit Committee or the auditors.
No negative impact for shareholders — the filing is a routine regulatory disclosure confirming compliance. The fact that all Q4 fund-raising was used for the stated purpose of strengthening the capital base and supporting operations, with no deviation or audit concerns, is a neutral-to-positive governance signal.