Statement of Deviation and Variation as per clause 32 (1), (2) and (3) for the quarter ended 30th June 2025 under the SEBI LODR 2015. The said statement was reviewed by the Audit Committee ....
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Modern Dairies has filed a SEBI-mandated compliance statement confirming that funds raised through two recent instruments were used exactly as originally intended, with no deviation or variation. Through a preferential issue on 13 March 2025, the company raised Rs 1,075 lakhs and fully utilized Rs 1,075 lakhs in Q1 FY26 towards strengthening its capital base and funding operations. Separately, through conversion of warrants into equity shares on 20 March 2025, it raised Rs 862.50 lakhs and utilized Rs 611.26 lakhs in the same quarter for the same stated purpose. The audit committee reviewed both statements at its 11 August 2025 meeting and had no comments, and the auditors also raised no concerns.
This is a routine regulatory filing that signals clean compliance and disciplined deployment of recently raised capital. For shareholders, it means there are no governance red flags regarding misuse of funds, though the small scale of the raises suggests limited new capital inflow from these specific instruments.