Scoda Tubes Limited has filed its monitoring agency report for the quarter ended December 31, 2025, providing detailed insights into the utilization of proceeds from its Initial Public Offer (IPO) and pre-IPO placement. The report, prepared by CRISIL Ratings Limited as the monitoring agency, confirms that all fund deployments remain aligned with the objects disclosed in the company's prospectus.

IPO Proceeds Utilization

During the quarter ended December 31, 2025, Scoda Tubes utilized Rs 229.22 million from its IPO proceeds across various strategic initiatives. The company's total IPO utilization has now reached Rs 1,360.83 million out of the total gross proceeds of Rs 2,200.00 million.

The capital expenditure proceeds were primarily deployed for civil work and placing orders for plant and machinery for both existing and proposed facilities. Working capital funds were utilized for vendor payments related to raw material procurement, while general corporate purpose funds were used for tax payments.

Pre-IPO Proceeds Deployment

The company successfully completed the utilization of its remaining pre-IPO proceeds during the quarter. Out of the original Rs 550.00 million raised through pre-IPO placement, Rs 367.58 million had been utilized prior to the IPO. The remaining balance of Rs 182.42 million was fully deployed during the quarter ended December 31, 2025.

Fund Management and Investment Strategy

Scoda Tubes has maintained a disciplined approach to managing its unutilized proceeds. As of December 31, 2025, the company had Rs 839.15 million in unutilized IPO proceeds, strategically invested across multiple fixed deposits with HDFC Bank.

The total earnings from these investments as of December 31, 2025, amounted to Rs 20.56 million, bringing the total market value of unutilized proceeds to Rs 862.45 million.

Regulatory Compliance and Monitoring

CRISIL Ratings Limited, in its capacity as the monitoring agency, confirmed that all utilizations were consistent with the objects disclosed in the prospectus. The report noted no deviations from the original expenditure plans and confirmed that all regulatory requirements under SEBI regulations were met. The monitoring agency also verified that the company's Board of Directors had ratified and approved all fund utilizations through resolutions dated January 30, 2026.

The company's systematic approach to fund deployment and transparent reporting demonstrates its commitment to maintaining investor confidence and regulatory compliance as it continues to execute its expansion plans in the iron and steel products sector.

Scoda Tubes Limited released its investor presentation for Q3 FY26 earnings update on January 31, 2026, following the announcement of unaudited standalone financial results for the quarter ended December 31, 2025. The presentation was submitted to both National Stock Exchange of India Limited (Symbol: SCODATUBES) and BSE Limited (Scrip Code: 544411) under Regulation 30.

Q3 FY26 Financial Performance

The company demonstrated strong revenue growth in Q3 FY26, with operational metrics showing positive momentum across key parameters.

Operational Highlights and Market Position

The investor presentation highlighted Scoda Tubes' position as a fully integrated manufacturer of stainless steel seamless and welded products. The company operates with a seamless production capacity of 20,068 MTPA and welded production capacity of 1,020 MTPA at its Gujarat facility.

Revenue Mix and Geographic Presence

The company serves multiple sectors including oil & gas, chemicals, fertilizers, power, pharmaceuticals, automotive, and transportation. Scoda Tubes has established its presence across 32 countries since inception, demonstrating strong international market penetration.

Strategic Focus Areas

The presentation outlined key strategic initiatives including increasing existing production capacity, geographic expansion of customer base, and strengthening brand value through participation in international exhibitions and trade shows. The company has trademarked "Scoda Tubes Limited" to build brand equity and protect intellectual property.

Industry Outlook

According to the presentation, global demand for stainless steel tubes and pipes is expected to grow at a CAGR of 3-4% between CY23-CY28. In India, the demand is projected to grow at 6-8% CAGR from FY24-29, driven by strong growth in end-user industries including building and construction, automobile, oil and gas, and manufacturing sectors.

Quality Certifications and Compliance

Scoda Tubes maintains international certifications including ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018. The company follows internationally recognized manufacturing standards including ASTM, ASME, and EN standards, with products sold to Europe certified under PED 2014/68/EU and ADW/AD 2000 standards.