Carysil Limited has submitted its quarterly monitoring agency report for the utilization of funds raised through its Qualified Institutions Placement (QIP) for the quarter ended December 31, 2025. The report, prepared by ICRA Limited as the appointed monitoring agency, was filed with BSE Limited and National Stock Exchange of India Limited in compliance with Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

QIP Issue Details and Fund Utilization

The company's QIP issue was completed between July 01, 2024, and July 03, 2024, raising ₹125.00 crore through equity shares. After accounting for issue-related expenses of ₹3.35 crore, the net proceeds available for utilization stand at ₹121.65 crore, revised from the originally planned ₹121.70 crore due to higher expenses by ₹0.05 crore.

Object-wise Fund Deployment

The monitoring agency report reveals the progress across three main objectives of the QIP issue:

Capital Expenditure for Manufacturing Facilities: Out of the allocated ₹62.50 crore for procurement and installation of machines, equipment, and moulds, the company has utilized ₹23.37 crore by December 31, 2025, leaving ₹39.13 crore unutilized for this purpose.

Working Capital Requirements: The entire allocated amount of ₹31.25 crore has been fully utilized for funding the company's working capital needs.

General Corporate Purposes: The complete allocation of ₹27.90 crore has been utilized across various corporate activities including advertising and publicity expenses (₹2.22 crore), Acrysil USA loan payment (₹2.81 crore), raising funds for right issue CSL (₹4.25 crore), supplier payments (₹18.20 crore), and sales promotion expenses (₹0.42 crore).

Deployment of Unutilized Proceeds

The company has strategically deployed the unutilized funds of ₹39.13 crore in fixed deposits with HDFC Bank across 15 different accounts. These investments are earning returns ranging from 6.25% to 6.35% with maturity dates extending from August 2026 to March 2027. The total earnings from these deployments amount to ₹0.78 crore, bringing the market value of unutilized proceeds to ₹39.91 crore.

Monitoring Agency Assessment

ICRA Limited, in its capacity as the monitoring agency, has confirmed that there is no material deviation from the objects of the issue. The utilization of proceeds remains in line with the disclosures made in the offer document. The agency noted that all government and statutory approvals related to the objects have been obtained, and technical assistance arrangements are operational.

The report emphasizes that while the capital expenditure component shows remaining utilization of ₹39.13 crore, this is expected to be deployed by the fiscal year ending March 31, 2026, as per the company's implementation timeline.

Carysil Limited has formally notified stock exchanges about its upcoming Board of Directors meeting scheduled for February 4, 2026, to review and approve the company's quarterly financial performance. The announcement, made on January 20, 2026, follows regulatory requirements under SEBI's listing obligations.

Board Meeting Details

The board meeting will focus on considering and approving the company's unaudited financial results for a specific reporting period. The meeting agenda encompasses both standalone and consolidated financial statements, providing comprehensive insights into the company's performance across all business segments.

Trading Window Restrictions

In accordance with the company's Code of Conduct for designated persons and regulatory compliance requirements, Carysil has implemented trading window restrictions. The trading window closure ensures compliance with insider trading regulations during the financial results preparation and announcement period.

Regulatory Compliance

The notification was issued pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to provide prior intimation to stock exchanges regarding board meetings that will consider financial results.

The company has communicated this information to both major Indian stock exchanges where its shares are listed. The formal notification ensures transparency and provides adequate notice to investors and market participants about the upcoming financial disclosure.

Corporate Communication

The official communication was signed by Reena Shah, Company Secretary and Compliance Officer, on January 20, 2026. The notification was simultaneously sent to BSE Limited and National Stock Exchange of India Limited, maintaining compliance with dual listing requirements and ensuring comprehensive market communication.