iCodex Publishing Solutions Limited has announced its audited financial results for the year ended March 31, 2026, alongside updates on the utilization of its Initial Public Offer (IPO) proceeds. The Board of Directors, meeting on May 15, 2026, approved the results and noted a deviation in the deployment of funds raised through the public issue.

Financial Performance for FY26

The company reported a total income of ₹2,660.34 lakh for the fiscal year 2025-26, an increase from ₹2,207.89 lakh in the previous year. Revenue from operations rose to ₹2,593.13 lakh from ₹2,187.75 lakh in FY25. However, total expenses increased significantly to ₹1,634.19 lakh compared to ₹926.10 lakh in the prior year. Consequently, Profit After Tax (PAT) stood at ₹709.38 lakh, down from ₹895.65 lakh in FY25. The statutory auditors, M/s JMMK & Co., issued an unmodified opinion on the financial statements.

IPO Proceeds Utilization and Deviation

The company had raised a fresh issue of ₹34.64 crore through its equity shares. As of March 31, 2026, the total amount utilized towards the objects of the issue was ₹25.57 crore, leaving ₹9.07 crore unutilized. The Monitoring Agency, Infomerics Valuation and Rating Limited, reported a deviation in fund usage during Q4FY26. The company utilized ₹1.34 crore for interior works of the purchased office, which was not in line with the objects disclosed in the Offer Document. Shareholder approval for this deviation has not been obtained.

In light of the unutilized funds, the Board approved an extension for the deployment of these proceeds to FY 2026-27. The objects for the purchase of new office premises and hardware, initially scheduled for completion in FY 2025-26, are now revised to FY 2026-27.

Deployment of Unutilized Funds

The unutilized proceeds of ₹9.13 crore are currently held in monitoring accounts and fixed deposits. A fixed deposit of ₹8.99 crore is maturing on May 14, 2026, yielding a return of 5.75%. The remaining funds are held in monitoring and escrow accounts for future deployment towards the specified objects.

iCodex Publishing Solutions Limited has secured significant financial backing with its Board of Directors approving substantial credit facilities from ICICI Bank. The decision was made during a board meeting held on April 22, 2026, marking a strategic move to strengthen the company's financial position.

Credit Facility Details

The board approved credit facilities from ICICI Bank's Viman Nagar Branch with comprehensive terms for business expansion:

Regulatory Compliance

The company has ensured full adherence to statutory requirements in structuring these credit facilities. The proposed borrowings fall within the permissible limits under Section 180(1)(c) of the Companies Act, 2013, demonstrating prudent financial management.

Additionally, iCodex Publishing Solutions will create charges on company assets in compliance with Section 180(1)(a) of the Companies Act, 2013, to the extent applicable. This approach ensures proper security arrangements while maintaining regulatory compliance.

Board Meeting Proceedings

The board meeting was conducted efficiently with clear timelines:

• Meeting Date: April 22, 2026
• Start Time: 12:00 p.m.
• Conclusion: 12:30 p.m.
• Duration: 30 minutes

The meeting was presided over with Company Secretary and Compliance Officer Nandini Kanak Shah ensuring proper documentation and regulatory compliance throughout the proceedings.

Strategic Implications

These credit facilities position iCodex Publishing Solutions to pursue growth opportunities across multiple business areas. The funding allocation for working capital will support day-to-day operations, while the provision for capital expenditure enables infrastructure development and expansion initiatives. The inclusion of general corporate purposes provides operational flexibility for strategic decisions.