Variation in the object/terms of utilisation of the Initial Public Offering proceeds.
ROUTE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Route Mobile Limited reported FY2025-26 results with revenue of Rs 4,408.21 crore (down from Rs 4,575.62 crore) and profit after tax of Rs 256.94 crore (down from Rs 333.93 crore). The Board approved reallocation of Rs 65 crore of IPO proceeds originally meant for purchasing office premises in Mumbai to general corporate purposes, subject to shareholder approval. Exceptional items of Rs 135.87 crore were written off, primarily comprising Rs 107.96 crore vendor advance write-off from an arbitration settlement and Rs 27.91 crore from another vendor who ceased operations. The company declared total dividend of Rs 11 per share (Rs 2 final + Rs 9 interim) for FY2025-26. Cash and equivalents stood at Rs 880.12 crore with no borrowings, showing a strong balance sheet.
The IPO proceeds variation signals management flexibility but raises questions about the original office purchase plan. Declining profits and large write-offs may concern investors, though strong cash reserves and consistent dividend payouts provide support.