Power Mech Projects has released its Monitoring Agency Report for the quarter ended December 31, 2025. The report, issued by CARE Ratings Limited, concerns the utilization of proceeds from the Qualified Institutional Placement (QIP) of the company. All fund utilization aligns with the disclosures in the Offer Document, with no deviations reported. The report indicates there have been some delays in the implementation of the coal washery project due to pending government approvals.
QIP Fund Utilization Overview
Power Mech Projects confirms that the utilization of funds from its Qualified Institutional Placement (QIP) is consistent with the disclosures made in the Offer Document. The monitoring agency, CARE Ratings Limited, has provided an objective assessment based on information provided by the company.
Key Highlights from the Monitoring Report
- All utilization is in line with the offer document.
- There is no deviation from expenditures as originally planned.
- No significant deviations were observed in comparison to prior monitoring reports.
Coal Washery Project Update
The company has secured all necessary approvals for the coal washery installation, but there have been delays in receiving these approvals, pushing back the original project timeline. As of the report, Rs. 240 crore will be utilized towards the installation of the coal washery by financial year 2026 (Rs.24 crore in FY24, Rs.48 crore in FY25 and Rs. 168 crore in FY26).
Financial Position and Investments
As of December 31, 2025, the company has a total unutilized amount of Rs. 142.92 crore, which is held in fixed deposits and MA accounts. During Q3FY26, Power Mech utilized Rs.28.78 crore towards the payments for installation of washery. Specific investments include:
- Fixed Deposits in RBL: Rs. 40.00 crore
Loan Repayment and General Corporate Purposes
The company has fully utilized the funds allocated for loan repayment and general corporate purposes. The total amount spent on general corporate purposes is Rs. 83.40 crore.
Source: BSE
