Walchandnagar Industries Limited (WIL) has confirmed that there is no deviation in the utilization of funds raised through its preferential issue of fully convertible equity warrants, totaling Rs 247.59 crores. The company disclosed this information in a statement reviewed by its Audit Committee on November 13, 2025, for the quarter ended September 30, 2025.

Fund Raising Details

The company raised a total of Rs 247.59 crores through the preferential issue, with the following breakdown:

• Rs 216.00 crores received from investors in cash
• Rs 31.59 crores adjusted towards conversion of outstanding loans from promoter entities

Fund Utilization

As of September 30, 2025, WIL has utilized the funds as follows:

Reallocation of Funds

The company's board has approved the following reallocations:

1. Rs 4.00 crores from Capital Expenditure to Repayment of loans
2. Rs 17.00 crores from Capital Expenditure to Working Capital

Monitoring Agency

ICRA Limited has been appointed as the Monitoring Agency for overseeing the utilization of funds raised through this preferential issue.

Company Statement

G. S. Agrawal, Whole Time Director & Company Secretary of Walchandnagar Industries Limited, stated, "We confirm that there is no deviation or variation in the use of proceeds raised through the Preferential Issue from the objects stated in the Letter of Offer/EGM Notice for Preferential Issue."

About Walchandnagar Industries Limited

Walchandnagar Industries Limited is an engineering company known for its design, engineering, and high-complex precision manufacturing capabilities. With an operational legacy of more than 116 years, the company focuses on the Defence, Nuclear, and Aerospace (DNA) business sectors, which align with the Indian government's push for self-reliance in these areas.

The company's recent financial results for Q2 FY26 showed a revenue from operations of Rs 51.78 crores, compared to Rs 49.43 crores in the previous quarter. WIL reported a positive EBITDA of Rs 0.61 crores for the second consecutive quarter, despite challenges in its Foundry business segment.

This transparent reporting of fund utilization demonstrates Walchandnagar Industries' commitment to corporate governance and shareholder trust, as the company continues to navigate the evolving landscape of the engineering and manufacturing sector in India.

Walchandnagar Industries , a player in the Heavy Engineering sector, has reported its financial results for the latest quarter, showing positive developments despite challenges.

Financial Performance

The company's financial performance for the latest quarter shows:

This marks the second successive quarter of positive EBITDA for Walchandnagar Industries, despite a lockdown in the foundry business.

Operational Segments

Walchandnagar Industries operates across several segments, including:

• Heavy Engineering
• Foundry
• Machine Shop
• Other segments

Notably, the Heavy Engineering segment showed a 9% sequential growth.

Cash Flow and Order Book

The company reported improved net cash flow from operations:

• H1: ₹12.15 crores

Walchandnagar Industries expects an order book of ₹150-200 crores in H2.

Conclusion

Despite challenges such as the foundry business lockdown, Walchandnagar Industries has shown resilience with its second consecutive quarter of positive EBITDA. The growth in the Heavy Engineering segment and improved cash flow are positive indicators. The company's expected order book for the second half of the fiscal year suggests potential for continued improvement in performance.