statement of deviation and variation for the quarter ended 30.09.2025
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Awaiting price reaction for this filing.
Sandu Pharmaceuticals has filed a quarterly statement covering three tranches of funds raised through preferential issues (private placement). Tranche 1 raised Rs 2.64 crore on 31 March 2021 (25% warrant upfront), Tranche 2 raised Rs 1.38 crore on 28 February 2022 (75% allotment money on conversion of 8.89 lakh warrants at Rs 20.69 each), and Tranche 3 raised Rs 1.32 crore on 14 July 2022, taking total proceeds to roughly Rs 5.33 crore. The stated purpose for all tranches was revamping capital infrastructure, marketing setup, civil work, plant and machinery, working capital, technology investment, and general corporate purposes. The company reports NIL funds utilised during Q2 FY26 across all tranches and confirms there is no deviation or variation from the originally approved objects. The Audit Committee reviewed and approved the statement, auditors had no comments, and any unutilised amount remains parked in an escrow account with a fixed deposit at Bank of Baroda.
This is a routine regulatory compliance filing confirming no misuse or diversion of the ~Rs 5.33 crore raised from preferential allotments between 2021 and 2022. The nil utilisation during the latest quarter signals that the company's expansion/capex plans tied to these funds remain slow or pending, which is mildly negative for near-term growth visibility but neutral for shareholder protection since funds are safely parked in an escrow FD.