Walchandnagar Industries Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
WALCHANNAG · price
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Awaiting price reaction for this filing.
Walchandnagar Industries filed its quarterly compliance statement under SEBI Regulation 32, confirming there is no deviation or variation in the use of proceeds from its November 2023 preferential issue of fully convertible equity warrants, which raised Rs. 247.59 crores in total (Rs. 213.54 cr from investors plus Rs. 31.59 cr adjusted against promoter group loans). The statement, reviewed by the Audit Committee and noted by the auditors with no comments, covers the quarter ended March 31, 2025. The Board reallocated Rs. 21 crores from the Capital Expenditure bucket (revised down from Rs. 105 cr to Rs. 84 cr) toward loan repayment and working capital, raising those allocations to Rs. 45 cr and Rs. 67 cr respectively. As of March 31, 2025, the promoter loan repayment and general corporate purposes are fully utilized, working capital has used Rs. 60.90 cr of Rs. 67 cr, and Capital Expenditure remains significantly under-deployed at Rs. 38.49 cr of the revised Rs. 84 cr target.
This is a routine compliance filing with no adverse deviation reported, so it carries no immediate negative signal. However, the sharp reallocation of growth capital toward debt servicing and the slow utilization of the CapEx bucket suggest the company is prioritizing liquidity and loan repayment over expansion, which shareholders should track for signs of delayed capacity buildout.