Himadri Speciality Chemical Ltd has submitted the final monitoring agency report from ICRA Limited for the quarter ended March 31, 2026, confirming compliance with the utilization of proceeds from its preferential issue of warrants. The report, submitted pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, indicates no deviation from the objects of the issue.

Issue Details

The preferential issue comprised 1,08,17,000 warrants priced at INR 316 each, aggregating to INR 341.8172 crore. The proceeds were earmarked for capital expenditure (INR 256.8172 crore) and general corporate purposes (INR 85.0000 crore). The monitoring agency confirmed that all utilization aligns with the disclosures made in the offer document.

Utilization Status

As of March 31, 2026, the company has utilized INR 229.4368 crore of the total proceeds. The utilization during Q4 FY26 amounted to INR 78.0337 crore, with capital expenditure accounting for the entire quarterly utilization. The general corporate purposes allocation remained unchanged during the quarter.

Deployment of Unutilized Proceeds

The unutilized proceeds of INR 112.3804 crore have been deployed in mutual funds and cash credit accounts. The majority of the unutilized amount (INR 111.7257 crore) is invested in various mutual fund schemes, while INR 0.6547 crore is maintained in a cash credit account. The investments include schemes from Mirae Asset, DSP, Kotak, Mahindra Manulife, Nippon Crisil-IBX, and Aditya Birla Sun Life.

Implementation Status

The monitoring agency confirmed that both capital expenditure and general corporate purpose objects are on schedule, with no delays reported. The proceeds are required to be utilized within 12 months from the receipt of the respective amount, and the company remains compliant with this requirement. No favorable or unfavorable events affecting the viability of the objects were reported during the quarter.

Himadri Speciality Chemical Limited has announced amendments to key corporate policies following a board meeting held on 23 April 2026. The company informed stock exchanges about these policy updates as part of its regulatory compliance obligations under SEBI regulations.

Policy Amendments Approved

The Board of Directors approved amendments to two critical policies during their meeting:

These policy amendments reflect the company's commitment to maintaining robust corporate governance standards and ensuring compliance with evolving regulatory requirements.

Regulatory Compliance and Disclosure

The company has fulfilled its disclosure obligations by informing both major stock exchanges about these policy changes. The notification was sent to:

• BSE Limited (Listing Code: 500184)
• National Stock Exchange of India Ltd (Listing Code: HSCL)

This disclosure was made pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's adherence to transparency requirements.

Policy Accessibility

The updated policies have been made publicly available on the company's official website at www.himadri.com , ensuring stakeholder access to the revised governance frameworks. This accessibility aligns with regulatory requirements for policy transparency and stakeholder information rights.

Corporate Information

Himadri Speciality Chemical Limited, formerly known as Himadri Chemicals & Industries Limited, operates with its registered office at 23A, Netaji Subhas Road, 8th Floor, Kolkata – 700 001. The company secretary and compliance officer, Monika Saraswat (ACS: 29322), signed the regulatory filing on 23 April 2026.