Himadri Speciality Chemical Limited has submitted its Monitoring Agency Report for the quarter ended December 31, 2025, issued by ICRA Limited. The report confirms that the utilization of proceeds from the Preferential Issue of Warrants, amounting to ₹341.8172 crore, is in line with the objects of the issue, with no deviation observed.

The total proceeds of ₹341.8172 crore were allocated to Capital Expenditure (₹256.8172 crore) and General Corporate Purposes (₹85.0000 crore). As of December 31, 2025, the company had utilized ₹96.0468 crore of the total proceeds. Specifically, ₹68.5371 crore was utilized for Capital Expenditure, including ₹0.4746 crore as reimbursement for expenditure previously funded through internal accruals. For General Corporate Purposes, ₹82.8660 crore was utilized, primarily for funding working capital.

The unutilized proceeds amounting to ₹190.4141 crore were deployed in mutual funds (₹190.0322 crore) and a cash credit account (₹0.3819 crore). The company confirmed that the utilization of proceeds is on schedule, with the stipulated 12-month utilization period from the receipt of funds not yet elapsed for either Capital Expenditure or General Corporate Purposes.

ICRA Limited, in its report, stated that the monitoring agency report does not constitute a commentary on the quality of the objects, appropriateness of costs, or the outcome of such spending. The report is based on information provided by the Issuer and sources believed to be accurate.