Corporate Governance15 Nov 2026, 09:30 am
Shakti Pumps: Q3 FY27 Monitoring Agency Report Shows Deviation
AI Summary
Shakti Pumps India Ltd has submitted its Monitoring Agency Reports for the quarter ended September 30, 2026. The report, issued by India Ratings & Research Private Limited, indicates a deviation in the utilization of funds raised through Qualified Institutions Placements (QIPs). Specifically, INR 44.13 Mn was utilized for Plant & Machineries at the existing manufacturing unit, rather than for the proposed expansion at a new facility. Additionally, the company utilized INR 198.06 Mn for land acquisition, receiving only 23.35 acres against an estimated 45.66 acres. The deviation in land acquisition is within the 10% range.
Key Highlights
- Monitoring Agency Report for Q3 FY27 submitted.
- Deviation noted in QIP fund utilization for expansion.
- Funds used for existing capacity instead of new facility.
- Land acquisition cost exceeded estimate, area received was less.
Price Impact
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