Statement of Deviation for the quarter ended 31.03.2026
PICCADIL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Piccadilly Agro Industries has submitted its Q4 FY2026 monitoring agency report for a preferential issue of Compulsorily Convertible Debentures (CCDs) and Convertible Warrants. The issue size was revised from Rs. 283.99 crore to Rs. 261.99 crore due to under-subscription of CCDs. Of the net proceeds, Rs. 245.18 crore (93.8%) has been utilized as follows: Rs. 112.34 crore for business expansion, Rs. 81.49 crore for long-term working capital, and Rs. 51.35 crore for general corporate purposes. The remaining Rs. 16.81 crore is parked in fixed deposits with HDFC Bank and Punjab National Bank, earning interest rates between 5.55% to 7.45%. ICRA Limited confirms no material deviation from the stated objects and all projects remain on schedule. The Chhattisgarh unit has commenced commercial production.
This is a routine compliance filing with positive indicators. The fund deployment is largely on track with no material deviations, and the company has started commercial production at its Chhattisgarh unit. The minor unutilized amount (~6% of proceeds) is safely deployed in fixed deposits, suggesting no fund diversion concerns for investors.