Walchandnagar Industries Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
WALCHANNAG · price
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Walchandnagar Industries filed its quarterly Reg. 32 compliance statement for the quarter ended June 30, 2025, confirming no deviation or variation in the use of funds raised through a preferential issue of fully convertible equity warrants in November 2023. The total issue size is Rs. 247.59 crores, of which Rs. 216 crores was received in cash and Rs. 31.59 crores was adjusted against promoter group loans. The Audit Committee reviewed and approved the statement on August 14, 2025, with ICRA Limited acting as the monitoring agency. While the company reports no deviation, a Board-approved reallocation of Rs. 21 crores was made — shifting funds from Capital Expenditure (now revised to Rs. 84 crores) into Term Loan repayment (revised to Rs. 45 crores) and Working Capital (revised to Rs. 67 crores). Capex utilisation stands at only Rs. 45.77 crores (around 55% of revised allocation), while loan repayment and general corporate purposes are fully utilised.
This is a routine compliance filing with no material deviation flagged, but shareholders should note the slower-than-expected capital expenditure deployment and the reallocation of Rs. 21 crores from capex toward debt repayment and working capital, which may signal deferred growth spending or liquidity prioritisation.