Balu Forge Industries Limited has submitted its statement of deviation or variation in the use of proceeds raised through preferential issues for the quarter ended March 31, 2026. The company reported no deviations or variations from the stated objects in the Private Placement Offer Letter cum Application Form. The statement, reviewed and approved by the Audit Committee via circular resolution on June 04, 2026, confirms the proper utilization of funds. The funds were raised through multiple preferential issues on February 9, 2026 (₹2700.00 lakhs), February 25, 2026 (₹4401.00 lakhs), March 6, 2026 (₹5562.00 lakhs), and March 9, 2026 (₹4617.00 lakhs). For the quarter ended March 31, 2026, the utilization of funds primarily went towards working capital requirements and the purchase and installation of new and existing plant and machinery, as well as general corporate purposes, not exceeding 25% of the issue size. In all instances, the utilized amount matched the allocated amount for the quarter, with no deviation or variation reported.
