Bhagiradha Chemicals & Industries Limited — Others, 13-02-2025: Statement of deviation(s) or variation(s) under Reg. 32

Bhagiradha Chemicals & Industries Limited has confirmed there are no deviations in the use of proceeds from its recent preferential issue of convertible warrants for the quarter ended December 31, 2024. The funds, totaling ₹288.90 crore, were utilized as planned for capital expenditure and working capital requirements related to the new manufacturing unit under its subsidiary, Bheema Fine Chemicals. This stability reinforces the company's operational integrity and supports strategic growth plans. Investors may view this as a positive outlook, as adherence to financial commitments enhances confidence in management's execution and the company's long-term value.