Growington Ventures India Limited , a company specializing in fruit trading, has reported no deviation in the utilization of funds raised through its recent rights issue. The company successfully raised Rs 48.17 crore on June 23, 2025, by offering equity shares at Re 1 per share in a 3:1 ratio to existing shareholders.

Fund Allocation and Utilization

The funds raised were allocated for three primary purposes:

1. Augmenting working capital requirements: Rs 36.95 crore
2. General corporate purposes: Rs 10.47 crore
3. Issue-related expenses: Rs 0.75 crore

As of June 30, 2025, Growington Ventures has utilized Rs 9.33 crore across these categories, adhering strictly to the original objectives stated in the offer document. The company's Audit Committee has approved the rights issue after reviewing management representations and the company's financial position.

Transparency and Compliance

In line with regulatory requirements, Growington Ventures submitted a statement to the BSE Limited on July 25, 2025, confirming no deviation in fund utilization. This report, filed under Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrates the company's commitment to transparency and regulatory compliance.

Financial Performance

The company also released its unaudited standalone financial results for the quarter ended June 30, 2025:

The company has shown significant year-over-year growth in both revenue and profitability for the first quarter of the fiscal year 2026.

Management Commentary

Mukesh Patwa, Whole Time Director of Growington Ventures India Limited, stated, "We are pleased to report that the funds raised through our rights issue are being utilized as per the objectives outlined in our offer document. This adherence to our stated goals reflects our commitment to responsible financial management and transparency."

The company's board of directors approved these financial results and the statement of fund utilization in a meeting held on July 25, 2025. With the successful completion of the rights issue and the strategic deployment of funds, Growington Ventures India Limited appears well-positioned for continued growth in the fruit trading sector.

Growington Ventures India Limited, a fruit trading company, has reported a robust performance for the first quarter of the fiscal year, with significant growth in both revenue and profit. The company also successfully completed a rights issue during the quarter, bolstering its financial position.

Strong Financial Performance

For the quarter ended June 30, Growington Ventures India Limited reported revenue from operations of Rs. 1,581.45 crore, representing a substantial 146% increase from Rs. 643.34 crore in the same quarter of the previous year. This impressive growth underscores the company's strong market position and effective business strategies in the fruit trading sector.

The company's profit also saw a notable rise, reaching Rs. 149.35 crore compared to Rs. 82.71 crore in the corresponding quarter last year, marking an 80.5% increase. This growth in profitability demonstrates the company's ability to effectively manage costs while expanding its operations.

Key Financial Highlights

The basic earnings per share (EPS) for the quarter stood at Rs. 0.05, up from Rs. 0.03 in the same period last year, reflecting the company's improved profitability on a per-share basis.

Successful Rights Issue

During the quarter, Growington Ventures India Limited completed a significant rights issue, raising Rs. 48.17 crore through the allotment of 48,16,61,820 equity shares at Rs. 1 per share. This capital infusion is expected to strengthen the company's financial position and support its growth initiatives.

The funds raised from the rights issue are being utilized for various purposes:

1. Augmenting working capital requirements
2. General corporate purposes
3. Issue-related expenses

The company reported no deviations in the utilization of funds raised through the rights issue, demonstrating its commitment to transparent financial management.

Global Presence

Growington Ventures India Limited operates with a global footprint through its wholly-owned subsidiary, Elementures Foodstuff Trading LLC, based in Dubai. This international presence potentially allows the company to tap into diverse markets and expand its fruit trading business beyond domestic borders.

Looking Ahead

With its strong quarterly performance and the successful completion of the rights issue, Growington Ventures India Limited appears well-positioned for continued growth in the fruit trading industry. The company's ability to significantly increase its revenue and profit amidst challenging market conditions speaks to its operational efficiency and strategic market positioning.

As the company moves forward, investors and market observers will be keen to see how Growington Ventures India Limited leverages its strengthened financial position to capitalize on opportunities in the dynamic fruit trading market, both domestically and internationally.