Statement of Deviation and Variation for the Q ended 31.12.2025
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Sandu Pharmaceuticals has filed a quarterly statement confirming there is no deviation or variation in the use of funds raised through three tranches of a preferential issue. The first tranche (31 March 2021) raised Rs 2.64 crore via 25% upfront payment on share warrants, the second tranche (28 February 2022) raised Rs 1.38 crore from the conversion of 8,89,667 warrants at Rs 20.69 per share, and the third tranche (14 July 2022) raised Rs 1.32 crore. Total funds raised across all three tranches come to about Rs 5.34 crore. The stated purpose of the funds includes revamping existing capital machinery, developing marketing infrastructure, civil work, purchase of new plant and machinery, working capital, technology investment, and general business purposes. The Audit Committee reviewed and approved the statement, and auditors had no comments. Any unutilized amount is parked in a fixed deposit with Bank of Baroda in the company's name through an escrow account.
This is a routine compliance filing confirming that the company has used the money raised from its preferential issue in line with the originally disclosed objects. There is no negative signal for shareholders — no misuse or diversion of funds — though it also indicates that some portion of the raised money remains unutilized in an escrow FD as of 31 December 2025.