Monitoring Agency Report for the Q4 ended March 31, 2025
ORIENTTECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Orient Technologies' IPO of Rs. 120 crore (August 2024) has used only Rs. 33.90 crore (~28%) of proceeds as of March 31, 2025. Office premise acquisition in Navi Mumbai is nearly complete (Rs. 10.25 crore of Rs. 10.35 crore used), Rs. 16 crore was spent on general corporate purposes (mainly working capital and payroll), and Rs. 7.65 crore on issue expenses. The biggest chunk — Rs. 79.65 crore earmarked for capital expenditure — has seen zero utilization so far. Unutilized Rs. 86.10 crore is parked in fixed deposits with Citi Bank (Rs. 35 crore at 6.25%) and ICICI Bank (Rs. 30 crore at 7.35%), plus bank accounts. The deployment timeline was extended to fiscal year 2026 via a shareholders' postal ballot approved on March 31, 2025.
Shareholders approved the revised timeline, but slow deployment of the largest IPO object (capital expenditure) is a concern, with zero spending nearly 7 months post-listing. The minor GST-related deviation in issue expenses (cumulative excess of Rs. 0.88 crore) is not material. Idle funds are earning interest in FDs, which is mildly positive, but execution delays on the core capex objective may weigh on investor sentiment.