statement of deviation &variation for the quarter ended March 31, 2026
TOLINS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Tolins Tyres Ltd has confirmed there is NO deviation or variation in the utilization of ₹200 crore IPO proceeds raised in September 2024. The company raised ₹200 crore (net ₹183.80 crore after ₹16.20 crore issue expenses) and has deployed funds as per the prospectus. For loan repayment, ₹72.44 crore was utilized against ₹69.97 crore allocated. Working capital augmentation saw ₹75.08 crore utilized against ₹75 crore allocated. Investment in subsidiary Tolin Rubbers (₹23.15 crore) and general corporate purposes (₹15.68 crore) were fully deployed. Issue expenses came in lower at ₹14.08 crore versus ₹16.20 crore budgeted. The Audit Committee reviewed the statement on May 28, 2026, with no comments.
Positive for shareholders — the company has deployed IPO funds strictly as per stated objects, with some items slightly over-allocated but still within the total IPO size. This indicates proper governance and adherence to capital deployment commitments.