Carysil Limited has notified the stock exchanges of an upcoming Board of Directors meeting, scheduled for Wednesday, May 20, 2026, in compliance with Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was filed on May 11, 2026, and outlines two key agenda items for the board's consideration.

Key Agenda Items

The board meeting will address the following matters, as detailed in the regulatory filing:

Trading Window Closure

In continuation of the company's earlier intimation dated March 25, 2026, and pursuant to the Company's Code of Conduct to Regulate, Monitor and Report Trading by Designated Persons and their Immediate Relatives, the trading window for dealing in the securities of the company has been closed from April 01, 2026. The trading window will continue to remain closed until 48 hours after the declaration of results, following which it is scheduled to reopen from May 23, 2026.

The filing was signed by Reena Shah, Company Secretary & Compliance Officer of Carysil Limited, on May 11, 2026.

Carysil Limited has filed the Monitoring Agency (MA) report prepared by ICRA Limited with the stock exchanges for the quarter ended March 31, 2026, in compliance with Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report pertains to the utilisation of funds raised through the company's Qualified Institutions Placement (QIP) and was submitted on May 11, 2026. ICRA Limited was appointed as the Monitoring Agency pursuant to an agreement dated July 01, 2024.

Issue Details

The QIP was open from July 01, 2024, to July 03, 2024, involving the issuance of equity shares with a total issue size of INR 125.00 crore. The net proceeds, after deducting issue-related expenses (IRE) of INR 3.30 crore as per the prospectus, were initially stated at INR 121.70 crore. These net proceeds were subsequently revised to INR 121.65 crore owing to issue-related expenses being higher by INR 0.05 crore as on December 31, 2025.

Fund Utilisation Progress

ICRA confirmed that the utilisation of issuance proceeds is in line with the objects of the issue, with no material deviation observed. The report also noted that the means of finance for the disclosed objects has not changed, all government and statutory approvals have been obtained, and no major deviation was observed over earlier monitoring agency reports. The following table summarises the progress in utilisation of QIP proceeds as at March 31, 2026.

Cost of Objects

The original and revised costs for each object of the issue are detailed below. The revision in the general corporate purpose allocation is attributable to the increase in issue-related expenses by INR 0.05 crore.

Deployment of Unutilised Proceeds

The unutilised balance of INR 33.79 crore has been deployed across 13 fixed deposits with HDFC Bank and a balance in the cash credit account with Citi Bank. All fixed deposits carry a return on investment of 6.25% or 6.35% per annum, with maturity dates ranging from August 24, 2026, to February 25, 2027. The total market value of deployed unutilised proceeds as at the end of the quarter stood at INR 34.99 crore, inclusive of earnings of INR 1.20 crore. The cash credit account with Citi Bank held an unutilised balance of INR 1.29 crore as on March 31, 2026, reflecting total available funds of INR 6.63 crore (comprising an opening balance of INR 1.63 crore and INR 5.00 crore transferred upon closure of a fixed deposit), of which INR 5.34 crore was utilised up to March 31, 2026.

General Corporate Purpose Utilisation

The total general corporate purpose amount of INR 27.90 crore has been fully utilised across the following heads:

Timeline Extension for Capital Expenditure

ICRA noted that the Board of Directors of Carysil Limited, at their meeting No. 07/2025-26 held on March 20, 2026, passed a resolution approving the extension of the timeline for utilisation of QIP proceeds earmarked for capital expenditure from March 31, 2026, to March 31, 2027. Accordingly, the remaining INR 33.79 crore is expected to be utilised by the fiscal year ended March 31, 2027. The working capital requirements and general corporate purposes allocations were completed on schedule. The report was prepared by Parul Goyal Narang, Vice President & Head – Process Excellence at ICRA Limited, and submitted to Reena Shah, Company Secretary and Compliance Officer of Carysil Limited.