Piccadily Agro Industries Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32

Piccadily Agro Industries has filed its quarterly statement of deviation under SEBI Regulation 32 for the quarter ended 31 March 2026. The company raised Rs. 50 crores through a preferential issue of Compulsory Convertible Debentures and Convertible Warrants to M/s Soon-N-Sure Holdings Limited, which were converted into equity shares on 24 September 2025. The statutory auditor, M/s Jain & Associates, has certified that the proceeds have been utilized only for the 'Objects of the Issue' — specifically for expansion of business, long-term working capital, and general corporate purposes totaling Rs. 50 crores. No material deviations were observed. Unutilized proceeds are temporarily parked in fixed deposits with Punjab National Bank, with maturities ranging from June 2026 to May 2027.