Sugs Lloyd Limited has submitted its monitoring agency report for the quarter ended December 31, 2025, in compliance with SEBI regulations regarding IPO proceeds utilization. The report, prepared by Acuite Ratings and Research Limited, provides a comprehensive overview of how the company has deployed funds raised through its Initial Public Offering.

IPO Proceeds Utilization Overview

The monitoring agency report reveals that Sugs Lloyd has utilized INR 73.71 crores out of its total IPO proceeds of INR 85.66 crores, leaving INR 11.94 crores unutilized as of December 31, 2025. The company's IPO was conducted from August 29, 2025 to September 02, 2025, raising the targeted amount for specified business objects.

Object-wise Fund Deployment

The company allocated its IPO proceeds across three primary objects as disclosed in the offer document. The monitoring agency confirmed that all utilizations align with the original disclosures without any material deviations.

The company has fully utilized the allocated amount for public issue related expenses, while substantial progress has been made in deploying funds for working capital requirements and general corporate purposes.

Deployment of Unutilized Funds

The remaining INR 11.94 crores comprises INR 11.65 crores deployed as fixed deposits and INR 0.29 crores available in the ICICI Bank current account. The company has strategically invested the unutilized proceeds in fixed deposits with ICICI Bank and Yes Bank to earn returns while maintaining liquidity.

Compliance and Monitoring Assessment

The monitoring agency confirmed several key compliance aspects in its assessment. No deviations were observed from the objects disclosed in the offer document, and no changes were noted in the means of finance for the disclosed objects. The report indicates that government or statutory approvals are not required for the stated objects, as the primary focus is working capital deployment.

Key findings from the monitoring assessment include:

• No material deviations from expenditures disclosed in the offer document
• No unfavorable events affecting the viability of the objects
• Proper documentation and certification by statutory auditors
• Compliance with SEBI listing and ICDR regulations

The monitoring agency, Acuite Ratings and Research Limited, has provided an objective assessment based on information provided by the issuer and independent verification through statutory auditor certifications dated January 28, 2026.

Sugs Lloyd Limited announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, under Regulation 33 of SEBI Listing Regulations. The Board of Directors approved these results at their meeting held on February 5, 2026, demonstrating continued growth momentum in the power infrastructure sector.

Q3FY26 Financial Performance

The company delivered robust financial performance with significant year-over-year growth across key metrics. Revenue from operations reached ₹6,257.14 lakhs compared to ₹5,219.01 lakhs in the corresponding quarter of the previous year.

Nine-Month Performance Overview

For the nine months ended December 31, 2025, the company showed exceptional growth with revenue from operations increasing to ₹18,560.20 lakhs from ₹11,555.08 lakhs in the corresponding period of the previous year, representing a growth of 60.63%.

Operational Highlights and Capital Structure

The company's operational efficiency improved with total expenses of ₹5,564.01 lakhs in Q3FY26 compared to ₹4,607.00 lakhs in Q3FY25. The paid-up equity share capital stands at ₹2,321.40 lakhs with a face value of ₹10.00 per share, reflecting the company's expanded capital base following its public listing.

Recent Contract Win and Market Position

The strong financial performance comes alongside the company's recent major contract win of ₹84.36 crore from BSES Yamuna Power Limited for network maintenance services in Delhi's Central Circle. This three-year contract, awarded in January 2026, reinforces the company's strategic focus on the Transmission and Distribution segment and demonstrates sustained demand for network maintenance solutions. With a current market capitalization of ₹250 crore, Sugs Lloyd Limited continues to strengthen its position as a leading EPC company in power infrastructure, serving blue-chip clients including NTPC, Tata Power, and various state DISCOMs across India.