Statement of Deviation and Variation under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015
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Mudunuru Limited reported Q1 FY26 revenue from operations of Rs. 53.36 lakhs versus Rs. 421.21 lakhs in the preceding quarter, posting a net loss of Rs. 69.77 lakhs (EPS of Rs. -0.11). The company converted 4,00,000 share warrants into equity shares at Rs. 12 per share (Rs. 2 face value plus Rs. 10 premium), raising Rs. 48 lakhs, with paid-up capital rising from Rs. 624 lakhs to Rs. 632 lakhs. The board confirmed no deviation or variation in the use of these funds, which were deployed for general corporate purposes. Additionally, M/s. M.M. Reddy & Co. has been appointed as the new statutory auditor for a 5-year term, replacing M/s. V. Ravi & Co. whose tenure ended with the 31st AGM. The board has also authorized the Managing Director to pursue legal action against a client over an unresolved invoicing and payment dispute.
The company continues to report losses with shrinking quarterly revenue, which is a concern for shareholders, though the warrant conversion is a mild positive as it strengthens the equity base. The auditor change is routine, but the ongoing client dispute and potential legal action could create near-term uncertainty around receivables and cash flows.