Monitoring Agency Report for utilisation of fund in the matter of QIP for the quarter ended on 31st March 2026.

Crisil Ratings Limited has submitted the monitoring agency report for Ratnaveer Precision Engineering's QIP (Qualified Institutional Placement) completed on December 4, 2025. The issue raised Rs. 1,855 million (net proceeds Rs. 1,823.11 million). Of this, Rs. 1,500 million was earmarked for working capital and Rs. 323.11 million for general corporate purposes. As of March 31, 2026, only Rs. 323.40 million (21.6%) has been utilized for working capital (raw material procurement), while general corporate purpose funds remain entirely unutilized at Rs. 323.11 million. The unutilized Rs. 1,500 million is parked in fixed deposits with Bandhan Bank, Axis Bank, IDBI Bank, and Yes Bank earning 6.6-7% returns. There is a delay in implementation as the company had planned to utilize Rs. 853.11 million by FY26 but achieved only Rs. 323.40 million, primarily due to QIP funds being received late in December 2025. No material deviations from stated objects were reported, though the monitoring agency could not verify end utilization on a transaction-level basis due to fund co-mingling with internal accruals.