Quarterly Updates27 May 2026, 07:12 pm
Best Agrolife: Deviation Statement for March 31, 2026
AI Summary
Best Agrolife Ltd submitted a statement of deviation for the quarter ended March 31, 2026, regarding the utilization of funds raised through a preferential issue of convertible warrants. The company reported deviations in the allocation of funds for capital expenditure and working capital. Originally, ₹70 crores were allocated for capital expenditure, but the board approved ₹50 crores. For working capital, the initial allocation was ₹120 crores, with ₹90 crores approved and ₹37.50 crores utilized. The company issued 31,25,000 convertible warrants and received ₹37.5 crores upfront, with the remaining ₹76.5 crores received later. No funds were utilized during the quarter ended March 31, 2026.
Key Highlights
- Best Agrolife reports deviations in fund utilization from preferential issue.
- Capital expenditure allocation reduced from ₹70 Cr to ₹50 Cr.
- Working capital allocation adjusted to ₹90 Cr, with ₹37.50 Cr utilized.
- No fund utilization occurred during the quarter ended March 31, 2026.
- Company received ₹37.5 Cr upfront from convertible warrants.
Price Impact
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