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

Hindprakash Industries Limited has submitted a Statement of Deviation or Variation for the quarter ended December 31, 2024, reviewed by the Audit Committee. The funds raised through a preferential issue for convertible equity warrants totaled ₹615 crore, representing 75% of the approved amount. Notably, there were no deviations or variations identified in the utilization of these funds, which were allocated for enhancing net worth, working capital, and debt repayment.

This affirmation of proper fund utilization may enhance investor confidence as it suggests disciplined financial management, potentially leading to a positive outlook among stakeholders. The company's transparency in procedures may further bolster trust in its governance practices.