Simplex Infrastructures Limited has submitted its Monitoring Agency Report for the quarter ended March 31, 2026, to the National Stock Exchange of India Limited, BSE Limited, and Calcutta Stock Exchange Limited. The filing, dated May 08, 2026, was made pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 162A(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The report covers the utilisation of proceeds from the company's preferential issue of equity shares and convertible warrants, with CARE Ratings Limited serving as the designated Monitoring Agency under a Monitoring Agency Agreement dated February 05, 2025.

Issue Overview and Fund Receipt

The preferential issue, which ran from May 26, 2025, to May 29, 2025, had a total issue size of Rs.423.69 crore, comprising two objects: working capital requirements of Rs.318.69 crore and general corporate purposes of Rs.105.00 crore. Funds were raised in two tranches — Rs.262.84 crore on May 29, 2025 (comprising Rs.209.22 crore from equity shares and Rs.53.62 crore as 25% upfront consideration from warrants), and Rs.18.75 crore on July 21, 2025, upon conversion of 865,052 warrants into equity shares on receipt of the balance 75% consideration. The total amount received as of March 31, 2026, stood at Rs.281.59 crore.

Utilisation of Proceeds — Q4FY26

During the quarter ended March 31, 2026, Simplex Infrastructures utilised Rs.46.42 crore in aggregate across both objects. The cumulative utilisation at the end of the quarter reached Rs.172.88 crore, leaving an unutilised balance of Rs.108.71 crore. The following table provides a detailed breakdown of fund utilisation progress:

Note: Working capital closing balance of Rs.125.32 crore includes fixed deposits pledged against Bank Guarantees/EMD of Rs.19.64 crore.

The working capital utilisation during Q4FY26 was directed towards salary expenses (Rs.3.42 crore), payment to sub-contractors and suppliers (Rs.21.36 crore), EMD (Rs.8.40 crore), GST and TDS payments (Rs.4.22 crore), bank guarantee commission (Rs.0.17 crore), and various administrative expenses (Rs.0.09 crore). General corporate purpose utilisation of Rs.8.76 crore covered salary expenses (Rs.3.35 crore), payments to sub-contractors and suppliers (Rs.3.21 crore), payment of legal expenses (Rs.1.99 crore), bank guarantee commission (Rs.0.18 crore), and various administrative expenses (Rs.0.03 crore). The Monitoring Agency noted that salary expenses are allocated under both working capital and general corporate purposes — expenses related to closed contracts are categorised under general corporate purposes, while those associated with ongoing contracts are classified under working capital.

Cumulative Utilisation Trend

The quarter-wise utilisation progress for both objects since the commencement of the issue is as follows:

The working capital object is to be utilised within 24 months from the realisation of funds (July 17, 2025), i.e., by July 17, 2027. The general corporate purpose object is linked to warrant conversion timelines, with a maximum utilisation date not exceeding November 28, 2028. The Monitoring Agency confirmed no delay in implementation for either object.

Deployment of Unutilised Proceeds

The unutilised amount of Rs.108.71 crore has been deployed in fixed deposits and a current account with Punjab National Bank. The fixed deposits carry return on investment rates of 6.25% and 5.00%, with maturity dates ranging from June 14, 2026, to November 06, 2026. The market value of these instruments at the end of the quarter was reported at Rs.115.62 crore, with interest income on fixed deposits amounting to Rs.6.91 crore.

Monitoring Agency Observations and Key Flags

CARE Ratings Limited confirmed that all utilisation is as per the disclosures in the offer document, with no material deviations observed and no change in the means of finance. However, the Monitoring Agency flagged two notable observations:

• Share Price vs. Warrant Conversion Price: The share price has fallen below the warrant conversion price as per the offer document, which may hinder warrant conversion.
• Credit Rating: The company is rated CARE D; INC by CARE Ratings, indicating ongoing delays in debt servicing obligations.

All government and statutory approvals, including in-principal approval, listing approval, and trading approval, have been obtained. The Monitoring Agency's report is supported by a Chartered Accountant certificate from Binayak Dey & Co., dated April 30, 2026.

Deviation or Variation Statement

In accordance with Regulation 32 of the SEBI (LODR) Regulations, 2015, Simplex Infrastructures has also filed a Statement on Deviation or Variation (Annexure-B). The statement confirms that there is no deviation or variation in the use of funds raised through the preferential issue. The Audit Committee has reviewed the statement and offered no comments, and the auditors have similarly raised no comments. The filing was signed by B.L. Bajoria, Senior Vice President and Company Secretary, on May 08, 2026, from Kolkata.

Simplex Infrastructures Limited has officially submitted the consolidated scrutinizer report to NSE, BSE, and Calcutta Stock Exchange, disclosing comprehensive voting results from its Extra-Ordinary General Meeting held on April 22, 2026. The regulatory filing under Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirms overwhelming shareholder support for both director reappointments.

Official Regulatory Disclosure

Sr. Vice President & Company Secretary B. L. Bajoria submitted the detailed voting results on April 23, 2026, ensuring full compliance with regulatory requirements. The disclosure provides comprehensive agenda-wise voting details for the EGM conducted through video conferencing from 3:00 p.m. to 3:35 p.m.

Director Reappointment Results

Both special resolutions for independent director reappointments received exceptional shareholder approval, demonstrating strong confidence in the company's leadership structure. The voting results show consistent support across all shareholder categories with identical outcomes for both resolutions.

Consolidated Voting Results for Both Directors

Both Mr. Pratap Kumar Chakravarty (DIN: 09021538) and Mrs. Indira Biswas (DIN: 03401620) received identical voting results for their reappointment as Independent Directors, reflecting unanimous shareholder sentiment across both appointments.

E-Voting Process and Compliance

The company facilitated comprehensive electronic voting through NSDL platform, enabling remote e-voting from April 18-21, 2026, and e-voting during the meeting. M/s. Labh & Labh Associates, Company Secretaries (FRN: P2025WB105500), served as scrutinizers ensuring transparent vote counting process.

The votes were unblocked on April 22, 2026, at 3:45 PM IST in the presence of two independent witnesses - Mr. Rohit Kumar and Mrs. Anushree Dasgupta, maintaining complete procedural integrity. The scrutinizer confirmed that all resolutions were passed with requisite majority as per the Companies Act, 2013 provisions.