Relic Technologies Limited has filed its quarterly compliance report with BSE Limited, confirming that there has been no deviation or variation in the utilization of proceeds from its preferential issue for the quarter ended December 31, 2025. The statement was submitted on February 12, 2026, in accordance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Fund Raising Details

The company raised funds through a preferential issue in two phases during 2025. The fund raising activities were structured as follows:

The equity shares carry a face value of Rs. 10 each, and the fully convertible warrants had a total value of Rs. 374.98 lakhs, with 25% paid upfront and the remaining 75% paid upon conversion to equity shares.

Fund Utilization Status

The company's fund utilization for the quarter ended December 31, 2025, demonstrates adherence to the original objectives outlined in the preferential issue:

The proceeds are being utilized for meeting working capital requirements, investment and acquisition of entities, further investment in or granting of loans to other entities, and for general corporate purposes, exactly as proposed in the original fund-raising document.

Regulatory Compliance

The utilization statement was duly reviewed by the company's Audit Committee at its meeting held on February 12, 2026. The Audit Committee confirmed that "the utilization of the proceeds from the preferential issue has been noted and is in line with the objects of the issue."

The funds were originally approved through resolutions passed at the Extra-Ordinary General Meeting held on March 18, 2025. The company has maintained full compliance with the stated objectives without any modification to the original allocation or purposes.

Corporate Information

Relic Technologies Limited operates under CIN L46497MH1991PLC064323 and is headquartered in Mumbai. The compliance statement was signed by Karthik Swaminathan Iyer, Executive Director (DIN: 08216928), confirming the company's adherence to regulatory requirements and transparent fund utilization practices.

Relic Technologies Limited has released its unaudited financial results for the quarter and nine months ended December 31, 2025, revealing a stark contrast between its standalone and consolidated performance. The Mumbai-based company, which is transitioning its business activities to pharma and wellness products, demonstrated mixed operational outcomes during the reporting period.

Standalone Financial Performance

The company's standalone operations showed positive results for Q3FY26, despite the absence of operational revenue. Key financial metrics for the quarter demonstrate the company's reliance on non-operational income sources.

For the nine-month period ended December 31, 2025, standalone operations generated a net profit of ₹44.71 lakhs compared to a loss of ₹147.49 lakhs in the corresponding period of the previous year. The company maintained zero revenue from operations throughout the nine-month period, with total income of ₹92.76 lakhs coming entirely from other income sources.

Consolidated Results Show Operational Challenges

The consolidated financial results, which include subsidiaries Relic Pharma Ltd and Truhealthy Wellness Private Ltd, presented a different picture with operational revenue but significant losses.

The consolidated nine-month results showed a substantial net loss of ₹400.79 lakhs compared to ₹96.08 lakhs in the previous year. This significant increase in losses was attributed to higher operational expenses, particularly employee benefit expenses which rose to ₹333.38 lakhs from ₹22.73 lakhs in the corresponding period.

Capital Structure Enhancement

During Q3FY26, Relic Technologies strengthened its capital base through warrant conversions. The company successfully converted 4,41,164 warrants into equity shares following receipt of the balance 75% application money from warrant holders.

This capital expansion increased the company's paid-up equity capital from ₹515.00 lakhs in the previous quarter to ₹559.12 lakhs as of December 31, 2025.

Business Transition Update

The company provided an important update regarding its strategic shift toward pharma and wellness products. Management disclosed that the planned change of activities to dealing in pharma and wellness products had not yet commenced revenue generation by December 31, 2025, as the company was still in the process of obtaining necessary regulatory permissions.

Subsidiary Performance Impact

The consolidated results were significantly influenced by subsidiary operations, with the two subsidiaries contributing ₹32.30 lakhs in revenue for the quarter and ₹220.48 lakhs for the nine-month period. However, these subsidiaries also reported substantial losses, with net loss before tax of ₹172.77 lakhs for the quarter and ₹414.32 lakhs for the nine-month period, highlighting operational challenges in the subsidiary businesses.

The financial results were approved by the Board of Directors in their meeting held on February 12, 2026, and have received unmodified review opinions from the company's statutory auditors, D. Kothary & Co., Chartered Accountants.