RISHABH · price
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Rishabh Instruments Ltd has filed a deviation report for its Rs. 750 million public issue raised on September 11, 2023. The company reports a deviation in fund utilization for the quarter and year ended March 31, 2026. Specifically, Rs. 77.20 million originally allocated for General Corporate Purpose has not been utilized, while the Nashik Manufacturing Facility II expansion shows a variation of Rs. 31.69 million between allocated and utilized amounts. The Nashik Facility I expansion has been largely utilized at Rs. 245.89 million of the Rs. 621.80 million allocated. The deviation was approved by shareholders on September 13, 2024, and both the Audit Committee and auditors have stated nil comments on the matter.
The reallocation of Rs. 77.20 million from General Corporate Purpose toward manufacturing expansion indicates the company is prioritizing capex over general reserves. Since shareholder approval was obtained and no audit objections were raised, the deviation appears procedural and strategic rather than a concern, though investors should monitor whether the expanded facilities generate expected returns.