Statement of Deviation and Variation for the quarter and year ended March 31, 2026.
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Odyssey Corporation has filed a statement confirming no deviation or variation in the use of proceeds from two preferential equity issues. The first issue of 3,56,54,286 shares at Rs. 14 per share (including Rs. 9 premium) raised Rs. 49.92 crore in November 2024, and the second involved conversion of 66 lakh warrants raising Rs. 6.93 crore in February 2026. Funds were allocated for working capital, capital expenditure, business opportunities, and general corporate purposes. The company also reported strong audited financial results with standalone revenue growing 64% to Rs. 4,661.53 Lacs and profit after tax rising 243% to Rs. 967.25 Lacs compared to the previous year. Auditors gave unqualified opinions on both standalone and consolidated results.
The confirmation of no fund misuse is a positive compliance signal. The substantial revenue and profit growth indicates improving operational performance. However, the significant negative other comprehensive income of Rs. 726.77 Lacs (mainly foreign currency translation differences) may warrant attention for shareholders.