Statement on Deviation or Variation for Proceeds of Public Issue for Half Year and Year ended March 31, 2026.
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Parmeshwar Metal Ltd reported strong financial results for FY2025-26 with revenue from operations of Rs. 1,97,294.16 Lakhs, up 42.7% from Rs. 1,38,243.37 Lakhs in the previous year. Net profit jumped significantly to Rs. 3,249.37 Lakhs from Rs. 1,097.80 Lakhs, representing a 196% increase. The company recommended a final dividend of Rs. 1.25 per equity share (12.5% on face value of Rs. 10). Regarding the IPO proceeds of Rs. 2,474.16 Lakhs raised in January 2025, the company confirmed no deviation in fund utilization. A minor reallocation of Rs. 41.35 Lakhs from Public Issue Expenses to Working Capital Requirements was made, which was approved by shareholders in September 2025. The Board also appointed new Internal and Cost Auditors for FY 2026-27.
The company delivered exceptional profit growth year-on-year, which could be positive for the stock. The clean audit opinion and proper utilization of IPO funds without deviations is reassuring for shareholders. The dividend recommendation adds to the positive sentiment.