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CARE Ratings report shows Rs 123.75 crore invested in fixed deposits at multiple banks
04-Aug-2026, 06:02
A monitoring report from CARE Ratings Ltd. indicates that the company had Rs 123.75 crore in unutilized proceeds, which were invested in fixed deposits maturing October 3, 2026, at YES Bank, Axis Bank, IndusInd Bank, and ICICI Bank. The report, covering a period up to March 31, 2026, with a subsequent quarterly update, also reveals delays in the completion of the Gholith manufacturing facility, the Mambattu expansion, and general corporate purposes, all now slated for completion by March 31, 2027. While Rs 5.24 crore has been utilized for general corporate purposes, primarily working capital, the Board has authorized a larger allocation of Rs 54.04 crore, including funds for tax payments and general expenses.
A monitoring report from CARE Ratings Ltd. indicates that the company had Rs 123.75 crore in unutilized proceeds, which were invested in fixed deposits maturing October 3, 2026, at YES Bank, Axis Bank, IndusInd Bank, and ICICI Bank. The report, covering a period up to March 31, 2026, with a subsequent quarterly update, also reveals delays in the completion of the Gholith manufacturing facility, the Mambattu expansion, and general corporate purposes, all now slated for completion by March 31, 2027. While Rs 5.24 crore has been utilized for general corporate purposes, primarily working capital, the Board has authorized a larger allocation of Rs 54.04 crore, including funds for tax payments and general expenses.