Parag Milk Foods Limited has informed the Exchange about Statement of no deviation or variation under Regulation 32 for quarter ended March 31, 2026
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Parag Milk Foods has filed a confirmation that there was no deviation or variation in the utilisation of INR 40.30 crore raised through issuance of Convertible Share Warrants on May 23, 2025. The funds have been deployed as per the stated objects: Rs. 17.50 crore for debt reduction (fully utilized), Rs. 7.80 crore for working capital (fully utilized), Rs. 5 crore for capital expenditure (fully utilized), and Rs. 9.70 crore out of Rs. 10 crore allocated for general corporate purposes (partial utilization). The statement, reviewed by the Audit Committee and Board of Directors, was monitored by India Ratings and Research Private Limited. No comments were raised by the Audit Committee or auditors.
This is a positive compliance confirmation for shareholders, indicating the company deployed the raised capital as promised without any misuse or deviation. The slight Rs. 0.30 crore underutilization in general corporate purposes is normal and does not constitute a variation.