Tirupati Forge Limited — Others, 10-02-2025: Statement of deviation(s) or variation(s) under Reg. 32

Tirupati Forge Limited has submitted a statement confirming no deviation in the utilization of funds raised through its preferential issue, amounting to ₹5.34 crore. The Audit Committee has reviewed this statement, affirming alignment with the original allocation. Additionally, for the equity shares issued on a preferential basis, amounting to ₹7.10 crore, there are no deviations reported as well. The company has proactively managed funds by temporarily parking unutilized amounts in fixed deposits while taking steps to recover overdue deposits, reflecting a cautious approach to capital management. Investor sentiment may lean positively due to the company’s adherence to its strategic financial goals and effective fund usage.