Monitoring Agency Report for the Quarter 4 ended March 31, 2026.
ORIENTTECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
CARE Ratings Limited has submitted its Q4FY26 monitoring report for Orient Technologies' Rs. 120 crore IPO (August 2024). The company has utilized Rs. 76.27 crore (63.6%) of IPO proceeds with Rs. 43.75 crore still unutilized. Capital expenditure (Rs. 79.65 crore allocated) is only 50% utilized at Rs. 40.21 crore due to delays in interior works and hardware procurement. The company has twice extended deployment timelines via shareholder resolutions (from FY25 to FY27) citing operational reasons. Office premises acquisition (Rs. 10.35 crore) and general corporate purposes (Rs. 17.93 crore) are fully deployed. Unutilized funds are parked in fixed deposits with Citi Bank (Rs. 35 crore), ICICI Bank (Rs. 5 crore), and Axis Bank (Rs. 4 crore).
The significant delay in capital expenditure deployment (50% utilized over 20 months) and repeated timeline extensions raise concerns about execution efficiency. While shareholder approvals are in place, investors should monitor whether the remaining Rs. 39.44 crore for capex is deployed by the revised March 2027 deadline.