Senores Pharmaceuticals Limited has informed the Exchange regarding statement of Deviation or Variation for quarter ended on March 31, 2026
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Senores Pharmaceuticals has submitted its quarterly statement on IPO fund utilisation for Q4 FY2026. The company raised Rs. 500 crore via IPO in December 2024 and reports that there has been no formal deviation in the use of funds from the objects stated in the Prospectus. Out of Rs. 500 crore raised, Rs. 394.98 crore (about 79%) has been utilised as of March 31, 2026. The largest deployment is into general corporate purposes (Rs. 157.16 crore) and working capital for the company and subsidiaries Ratnatris and SPI (Rs. 102.74 crore combined). A key delay is noted in the Rs. 107 crore Havix sterile injectables facility — only Rs. 6.98 crore was deployed against a scheduled Rs. 40 crore for Fiscal 2026, due to ongoing geo-political issues, pushing full deployment to Fiscal 2027. Minor reallocations (totalling Rs. 6.70 crore) were made from repayment and subsidiary working capital objects into the general corporate purposes head, approved by the board.
No material deviation is reported, so the filing is broadly positive for investor confidence. However, the delay in deploying Rs. 33 crore into Havix's manufacturing facility may slow future revenue growth, and shareholders should monitor whether the company catches up in Fiscal 2027.