ROUTE MOBILE LIMITED has informed the Exchange about Variation in the object/ terms of utilisation of the Initial Public Offering proceeds
ROUTE · price
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Route Mobile Limited reported FY2026 consolidated profit after tax of ₹256.94 crore, down from ₹333.93 crore in FY2025, primarily due to exceptional write-offs of ₹135.87 crore (including ₹107.96 crore from a vendor dispute and ₹27.91 crore from another vendor advance write-off). Revenue from operations stood at ₹4,408.21 crore. The Board recommended a final dividend of ₹2 per share, making total FY26 dividend ₹11 per share (₹9 interim already paid). The company also approved reallocation of ₹65 crore from unutilized IPO proceeds originally meant for Mumbai office premises purchase to general corporate purposes, subject to shareholder approval. Two senior management personnel were appointed, and an internal auditor was reappointed.
The profit decline due to exceptional write-offs is concerning but the underlying business shows resilience with strong cash flows. The unchanged total dividend despite lower profits reflects management confidence. The IPO fund reallocation indicates flexibility in capital deployment but requires shareholder approval.