Kinetic Engineering: Deviation in Fund Utilization for Q2 FY27

Kinetic Engineering Limited has filed a Statement of Deviation and Variation for the quarter ended September 30, 2026, concerning funds raised via Preferential Issues of Convertible Warrants amounting to Rs 57.08 Crore on September 22, 2026. The total amount raised to date is Rs 158.68 crore. While the company reported no deviation in the utilization for redemption of preference shares, payment of overdue liabilities, and investment in its subsidiary Kinetic Watts and Volt Limited, there were variations in the allocation for Capex and Working Capital Requirements. Specifically, Capex utilization was Rs 2.77 Crore against an original allocation of Rs 12.00 Crore, and Working Capital Requirements saw utilization of Rs 11.26 Crore against an allocation of Rs 8.00 Crore. The company stated that funds were utilized as per the objects of the issue.