Adroit Industries (India) Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by ACER Credit Rating Private Limited, details the utilization of proceeds from the company’s Fresh Issue of Equity Shares. The Audit Committee has reviewed and the Board of Directors has taken the report on record, confirming adherence to stated objects and arrangements for monitoring fund usage.
Adroit Industries Files Q3 2026 Monitoring Report
Adroit Industries (India) Limited has formally submitted its Monitoring Agency Report for the fiscal quarter concluding on September 30, 2026. This report, prepared by ACER Credit Rating Private Limited, provides an overview of how the proceeds from the company’s recent Fresh Issue of Equity Shares have been utilized during the specified period.
Regulatory Compliance and Board Review
The submission is in compliance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 41 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company confirmed that the Monitoring Agency Report has undergone a thorough review by its Audit Committee. Subsequently, the Board of Directors of Adroit Industries officially took the report on record during their meetings held on November 4, 2026.
Report Highlights
The Monitoring Agency Report indicates no deviation from the stated objects for the utilization of the fresh issue proceeds. Key aspects reviewed include the adherence to the planned use of funds as disclosed in the Offer Document, confirmation of necessary shareholder approvals where applicable, and assessment of the means of finance for the disclosed objects. The report also confirms that no major deviations were observed compared to earlier monitoring agency reports. Furthermore, all necessary Government/statutory approvals related to the objects have been obtained, and arrangements pertaining to technical assistance and collaboration in operations are in place.
Objects of the Issue
The primary objects for which the funds were raised included significant capital expenditure for procurement of machinery and equipment, as well as transportation vehicles for various facilities, including the Dewas and Pithampur locations. Additionally, funds were allocated for investment in the subsidiary, Adroit Driveshafts Private Limited, for both capital expenditure and for the repayment or pre-payment of certain borrowings. A portion of the proceeds was also designated for General Corporate Purposes.
Progress and Utilization Details
As of the end of the quarter, a substantial portion of the gross proceeds, amounting to ₹11212.2 Lakh, was intended for utilization. The report details the progress in implementing these objects, indicating that the utilized amount for specific capital expenditures and investments remained as per the offer document, with no comments from the Monitoring Agency or the Board of Directors regarding cost revision or proposed financing options for most items. The report also notes the deployment of unutilized proceeds, with substantial amounts held in the Issuer Account and Monitoring Account.
The company has provided assurances regarding the adherence to the specified use of funds, emphasizing that the information furnished is accurate and reliable, based on management undertakings and auditor certificates.
Source: BSE
