Sirca Paints India Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Sirca Paints India Limited has confirmed that there is no deviation or variation in the use of proceeds from its Preferential Issue, which raised Rs. 75.29 crore in September 2025. The company filed this statement for the quarter ended March 31, 2026, as required under SEBI regulations. Of the four allocated objects, Rs. 1,095.35 lakh has been utilized for new manufacturing facilities capex, Rs. 179.06 lakh for working capital, Rs. 429.28 lakh for general corporate purpose, while the distribution channel and brand promotion allocation remains unused at Rs. 0 lakh. The audit committee and auditors have confirmed no concerns.
This is a routine compliance filing with no negative implications for shareholders. The partial utilization of funds (especially for working capital and distribution expansion) is expected as the company is still in the early deployment phase since the September 2025 fund raise.