Submission of monitoring Agency Report for the quarter ended 30th September, 2025
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Vishal Fabrics has submitted the Monitoring Agency Report from CARE Ratings for the quarter ended September 30, 2025, covering the use of Rs. 153 crore raised through a Preferential Share Warrants Issue allotted on September 12, 2024 (5 crore warrants at Rs. 30.60 each). All proceeds have been fully utilized: Rs. 37.99 crore for working capital, Rs. 86.34 crore for repayment of unsecured loans, and Rs. 28.42 crore for general corporate purposes (vendor payments). The company noted a minor deviation of less than 1% (Rs. 0.01 crore) due to interchangeability between objects, which the monitoring agency deemed immaterial. The board reallocated the Rs. 0.25 crore earmarked for issue expenses to working capital, having paid those expenses from internal funds. The report also notes the resignation of a managerial person (KMP) in July 2025.
This is a routine quarterly compliance filing with no negative implications - all funds are fully deployed for stated purposes with only a trivial deviation. Shareholders should note that the company is leveraging the warrant-converted capital to strengthen working capital and reduce debt, and that a KMP has departed, which may warrant a separate look.