Monitoring Agency Report for the quarter ended 31st March, 2025
SMSPHARMA · price
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SMS Pharmaceuticals has filed the quarterly Monitoring Agency Report from CARE Ratings covering the quarter ended March 31, 2025 for its Rs. 114.30 crore private placement of convertible warrants (issued in March 2024). Of the total issue size, Rs. 66.68 crore has been received by the company so far, of which Rs. 28.57 crore has been utilized — Rs. 17.14 crore on capital expenditure and Rs. 11.43 crore on working capital. The remaining Rs. 38.11 crore is sitting unutilized in an SBI monitoring account. None of the Rs. 11.43 crore earmarked for General Corporate Purposes has been deployed yet. The Monitoring Agency confirmed no deviation from the objects stated in the offer document, and the board said capex utilization is going as per schedule with the outer 2-year timeline ending March 2026.
This is a routine compliance disclosure with no negative findings. The unutilized Rs. 38.11 crore parked safely in a bank monitoring account means shareholders should watch how quickly the company deploys remaining funds into the planned capex over the coming year; any meaningful delay in deployment could be a mild concern.