Cryogenic OGS Limited has submitted its compliance statement to BSE Limited regarding the utilization of funds raised through its initial public offering, confirming no deviations from the approved allocation for the half-year ended March 31, 2026. The statement, filed under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, was reviewed and approved by the company's audit committee and board of directors on April 30, 2026.

IPO Fund Details and Allocation

The company raised ₹17.76 crores through its initial public offer completed on July 10, 2025. The funds were allocated across three specific objectives as outlined in the original prospectus.

Fund Utilization Breakdown

The detailed utilization of IPO proceeds shows systematic deployment across the three approved categories. The company has utilized funds progressively towards its stated objectives without any modifications to the original allocation.

Compliance and Oversight

The fund utilization statement confirms that no monitoring agency oversight is required for this fundraising. Both the audit committee and external auditors have provided no adverse comments on the fund deployment strategy. The company has maintained transparency by making the statement available on its official website at cryogenicogs.com.

Corporate Governance

The statement was signed by Managing Director Nilesh Patel (DIN: 01368574) and Company Secretary & Compliance Officer Rashmi Kamlesh Otavani, demonstrating proper corporate governance protocols. The document confirms that no shareholder approval was required for any changes in fund utilization as no deviations occurred from the original objects of the issue.

Cryogenic OGS Limited has reported its audited financial results for FY26, with the Board of Directors approving the results at a meeting held on 30 April 2026. The company, engaged in manufacturing equipment for oil and gas industries, posted strong growth across key financial metrics compared to the previous year.

Financial Performance Summary

The company achieved total revenue of ₹4243.48 lakh for FY26, representing a 24% increase from ₹3379.14 lakh in the previous year. Revenue from operations stood at ₹4082.24 lakh, while other income contributed ₹161.24 lakh. For the half-year ended 31 March 2026, total revenue reached ₹2072.22 lakh.

Profitability Analysis

Profit after tax for FY26 increased to ₹1018.27 lakh, up 67% from ₹608.98 lakh in FY25. The company reported an exceptional item of ₹123.95 lakh as profit on sale of plot during the year. Basic and diluted earnings per share improved to ₹7.69 from ₹5.80 in the previous year. For the half-year period, profit after tax stood at ₹447.22 lakh with EPS of ₹3.17.

Balance Sheet Position

The company's balance sheet strengthened significantly with shareholders' funds growing to ₹5465.18 lakh as of 31 March 2026, compared to ₹2898.60 lakh in the previous year. Share capital increased to ₹1428.00 lakh from ₹1050.00 lakh, while reserves and surplus rose to ₹4037.18 lakh from ₹1848.60 lakh. Cash and cash equivalents surged to ₹3278.24 lakh from ₹1106.67 lakh, reflecting strong liquidity position.

Cash Flow and Financing

Net cash from operating activities improved to ₹798.59 lakh in FY26 from ₹193.55 lakh in the previous year. The company raised ₹1548.31 lakh through issue of shares during the year. Cash flow from investment activities showed an outflow of ₹2056.49 lakh, primarily due to investments in fixed deposits of ₹1892.37 lakh. Closing cash and cash equivalents as per financials stood at ₹3278.24 lakh.

Auditor's Report

M/s Maloo Bhatt & Co., Chartered Accountants, provided an unmodified opinion on the audited financial results. The audit report confirmed that the financial results are presented in accordance with Regulation 33 of SEBI Listing Regulations and give a true and fair view of the company's financial performance for FY26.