Apollo Techno Industries Limited has filed its quarterly monitoring agency report for Q3FY26, detailing the utilization of proceeds from its ₹47.96 crore Initial Public Offering conducted in December 2025. The report, prepared by CARE Ratings Limited as the monitoring agency, covers the quarter ended December 31, 2025, and was reviewed by the company's Audit Committee and Board of Directors on February 09, 2026.

IPO Proceeds Allocation and Utilization

The company's IPO, which ran from December 23, 2025, to December 26, 2025, raised ₹47.96 crore across three primary objects. During Q3FY26, the company utilized ₹4.77 crore, leaving ₹43.18 crore unutilized at the quarter's end.

Deployment of Unutilized Funds

The ₹43.18 crore in unutilized proceeds has been deployed in designated bank accounts with Kotak Mahindra Bank Limited. The funds are distributed between a Public Issue Account holding ₹19.68 crore and a Monitoring Account containing ₹23.50 crore.

Monitoring Agency Assessment

CARE Ratings Limited confirmed that all utilization during the quarter was in accordance with the disclosures made in the offer document. The monitoring agency reported no material deviations from the stated objects, with the primary reason for unutilized working capital funds being that the IPO proceeds were received on December 31, 2025, at the end of the reporting quarter.

Company Background and Future Plans

Apollo Techno Industries Limited operates in the construction drilling equipment industry and is promoted by Rashmikant Haribhai Patel, Manjulaben Rashmikant Patel, and Parth Rashmikant Patel. The company has indicated that the unutilized funds for working capital requirements will be deployed in upcoming quarters as per the stated objects, with completion targeted for FY26 and FY27.

The monitoring agency report represents the first quarterly assessment since the IPO, with CARE Ratings Limited confirming that no government or statutory approvals are pending for the stated objects. The company maintains that there are no unfavorable events affecting the viability of the IPO objects and no other material information that could impact investor decision-making.

Apollo Techno Industries Limited has submitted revised unaudited standalone and consolidated financial results for the half year ended September 30, 2025, to the Bombay Stock Exchange following observations on the initial submission made in January 2026. The heavy equipment machinery manufacturer rectified the Limited Review Report in accordance with prescribed SEBI format requirements.

Standalone Financial Performance

The company's standalone operations showed mixed results for the half year ended September 30, 2025. Revenue from operations declined to ₹4569.30 lakhs compared to ₹4924.54 lakhs in the corresponding period of the previous year.

The significant decline in profitability was primarily attributed to higher cost of materials consumed, which increased to ₹3809.34 lakhs from ₹3507.66 lakhs in the previous year period.

Consolidated Financial Results

On a consolidated basis, which includes subsidiary Apollo Techno Equipments Limited, the company demonstrated stronger performance. Consolidated revenue from operations decreased marginally to ₹4839.18 lakhs from ₹4924.54 lakhs in the previous year period.

Segment Performance and Business Operations

Apollo Techno Industries operates in a single business segment of heavy machinery, manufacturing Horizontal Directional Drilling Machines, Diaphragm Drilling Rigs and related moulds. The company has two reportable geographical segments - domestic and international markets.

For the half year ended September 30, 2025, domestic sales on standalone basis were ₹4400.40 lakhs while international sales contributed ₹168.90 lakhs. On consolidated basis, domestic sales were ₹3902.29 lakhs and international sales were ₹936.89 lakhs.

Post-Period Developments

After the period ended September 30, 2025, the company completed its Initial Public Offering of ₹47.96 lakhs through fresh issue of 36.89 lakhs equity shares of ₹10 each at an issue price of ₹130 per share. The company's equity shares were listed on the SME Platform of BSE from December 31, 2025.

Financial Position

The company's standalone total assets increased to ₹8787.22 lakhs as at September 30, 2025, from ₹7554.17 lakhs as at March 31, 2025. Total equity stood at ₹2604.60 lakhs compared to ₹2403.03 lakhs at the end of the previous financial year. On consolidated basis, total assets were ₹9067.09 lakhs with total equity of ₹2945.58 lakhs.

The financial results were approved by the Board of Directors at its meeting held on January 19, 2026, and have been subject to limited review by the statutory auditors DIPAL R. SHAH & CO., Chartered Accountants.