Spice Islands Industries Limited has filed its quarterly compliance report with BSE Limited, detailing the utilization of funds raised through its preferential issue for the quarter ended March 31, 2026. The submission was made in accordance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Fund Raising Details

The company executed its fund raising through a two-stage preferential issue process involving warrants convertible into equity shares. The warrants were allotted on October 30, 2024, at an issue price of Rs. 45.00 per warrant, including a premium of Rs. 35.00 per warrant.

Fund Utilization Status

The company reported comprehensive utilization of the raised funds with minimal deviation. The funds were allocated for working capital requirements, business expansion, and other general corporate purposes as originally planned.

Compliance and Regulatory Status

The company confirmed that there were no deviations or variations in the use of funds raised during the reporting quarter. The statement indicates "Not Applicable" for all deviation-related queries, demonstrating adherence to the original fund utilization plan approved by shareholders.

Key Compliance Highlights:

• No monitoring agency involvement required
• No changes in contract terms or objects
• No shareholder approval needed for modifications
• Audit committee provided no adverse comments
• External auditors raised no concerns

Corporate Information

Spice Islands Industries Limited, formerly known as Spice Islands Apparels Limited, operates from its registered office in Bhandup Industrial Estate, Mumbai. The company secretary and compliance officer, Arti Lalwani, signed and submitted the compliance document on April 16, 2026.

The quarterly report demonstrates the company's commitment to transparent financial reporting and regulatory compliance, with near-complete utilization of the raised funds according to the stated objectives.

Spice Islands Industries Limited has notified BSE Limited about its exemption from submitting the Annual Secretarial Compliance Report for the financial year ending March 31, 2026. The communication, dated April 16, 2026, was signed by Company Secretary and Compliance Officer Arti Lalwani.

Regulatory Exemption Details

The company's exemption is based on Regulation 15(2)(b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation provides relief from Corporate Governance provisions specified in Regulation 24A for certain categories of listed entities.

Company's Financial Position

Spice Islands Industries Limited meets the exemption criteria based on its financial position as on March 31, 2025. The company has certified its compliance with the regulatory thresholds that allow it to avoid the mandatory secretarial compliance reporting requirement.

Regulatory Framework

The exemption falls under two specific categories outlined in SEBI regulations:

• Listed entities with paid-up capital not exceeding Rs. 10.00 crore and net worth not exceeding Rs. 25.00 crore as on the last day of the previous financial year
• Listed entities whose specified securities are listed on SME Exchange platform

Spice Islands Industries Limited qualifies under the first category based on its financial metrics. The company's paid-up capital of Rs. 4.30 crore and net worth of Rs. 2.36 crore are both significantly below the prescribed limits, ensuring clear compliance with the exemption criteria.

Company Information

Formerly known as Spice Islands Apparels Limited, the company operates from its registered office in Bhandup Industrial Estate, Mumbai. The notification was submitted to BSE Limited under scrip code 526827, fulfilling the company's disclosure obligations regarding its compliance status.