Himadri Speciality Chemical Ltd has released its monitoring agency report for the quarter ended March 31, 2026. The report confirms that the utilization of proceeds from its INR 341.8172 crore preferential issue of warrants remains fully in line with the defined corporate objects. As of the end of the quarter, the company has successfully utilized INR 229.4368 crore, with no deviations observed in project funding or general corporate expenditure.
Utilization Summary
The monitoring report, prepared by ICRA Limited, validates the effective use of funds raised through the preferential issue. The total proceeds of INR 341.8172 crore were allocated to Capital Expenditure and General Corporate Purposes. By the conclusion of the fourth quarter, INR 229.4368 crore of the total funds had been deployed, leaving an unutilized balance of INR 112.3804 crore.
Strategic Allocation of Funds
The company’s capital deployment is divided into two primary categories:
- Capital Expenditure: Out of the INR 256.8172 crore allocated, INR 146.5708 crore has been utilized for new greenfield projects and brownfield expansions, marking significant progress in the company’s growth strategy.
- General Corporate Purposes: Out of the INR 85.0000 crore allocated, INR 82.8660 crore has been utilized, primarily to support working capital requirements.
Deployment of Unutilized Proceeds
To ensure optimal financial management, the unutilized portion of the funds, amounting to INR 112.3804 crore, is currently held in high-liquidity financial instruments. This includes INR 111.7257 crore invested across various low-duration and liquid mutual fund schemes, ensuring safety and accessibility while the funds await further deployment toward the company’s planned objectives.
Project Implementation Status
The report confirms that all projects are moving forward on schedule. Management maintains that both Capital Expenditure and General Corporate activities are being executed within the 12-month timeframe stipulated in the offer document. No delays, cost revisions, or unfavorable events have been reported, and the company remains compliant with all planned financial milestones.
Source: BSE
