Hitachi Energy India Limited has submitted its statement of deviation or variation for the quarter ended December 31, 2025, as required by Regulation 32(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The statement, reviewed by the Audit Committee on February 05, 2026, confirms that there has been no deviation or variation in the utilization of funds raised through Qualified Institutional Placement (QIP) from the objects stated in the Placement Document dated March 13, 2025. The company raised ₹2520.82 Crores (Gross proceeds) and ₹2,476.29 Crores (Net Proceeds) through the QIP. For the quarter ended December 31, 2025, funds utilized amounted to ₹110.55 Crores. The original objects for which funds were raised were: 1. Funding capital expenditure requirements, including expansion and development of business units, with ₹1,513.28 Crores allocated. For this quarter, ₹110.55 Crores were utilized towards capacity increase, equipment addition, and civil works. 2. Funding working capital requirements, with ₹350.00 Crores allocated. No utilization was reported for this quarter. 3. General Corporate Purposes, with ₹613.01 Crores allocated. No utilization was reported for this quarter. The total funds utilized during the quarter were ₹110.55 Crores, with no deviation or variation reported against the stated objects.
