PG Electroplast Limited has released its Monitoring Agency Report for the quarter ended March 31, 2026. The report details the utilization of proceeds raised through the Qualified Institutions Placement (QIP). As of the end of the fiscal year 2026, the company has utilized ₹1,315.35 crore out of the total net proceeds of ₹1,477.56 crore, with the remaining balance being held in fixed deposits.
Utilization of QIP Proceeds
The company successfully raised funds through a Qualified Institutions Placement (QIP) between December 4 and December 9, 2024, with net proceeds amounting to ₹1,477.56 crore. As of the close of the quarter on March 31, 2026, a total of ₹1,315.35 crore has been deployed toward various strategic projects, including investments in subsidiaries for capital expenditure and working capital requirements, as well as the repayment of debt.
Strategic Project Funding
The funds are primarily directed toward expanding manufacturing and warehousing capacities at the Supa Unit and the Karoli Unit, as well as upgrading equipment for its subsidiary, Next Generation Manufacturers Private Limited. Additionally, significant allocations were made to support the working capital needs of the subsidiary PG Technoplast and for General Corporate Purposes.
Status of Unutilized Funds
As of March 31, 2026, an unutilized balance of ₹162.21 crore remains. These funds are currently deployed in low-risk financial instruments, primarily fixed deposits with YES Bank, yielding a return on investment of approximately 6.70%. The total market value of these unutilized funds, including accrued interest, stood at ₹165.40 crore at the end of the quarter.
Project Implementation Update
While the company is actively executing its expansion plans, there has been a slight delay in the implementation schedule compared to original estimates. This is attributed to pending approvals from banks regarding loan repayments and minor delays in procurement cycles. The company maintains that the remaining net proceeds will be utilized in subsequent periods, in accordance with the terms outlined in the initial placement document.
Source: BSE
