Sadhana Nitrochem Limited — Others, 04-02-2025: Statement of deviation(s) or variation(s) under Reg. 32

Sadhana Nitro Chem Limited has confirmed that there is no deviation in the utilization of proceeds from its recent Rights Issue, which raised ₹49.91 crore. The statement, reviewed by the Audit Committee, highlights that funds allocated for acquiring a 126-acre plot of land and related expenses have been utilized as originally planned, with ₹20.39 crore spent to date. This clarity reinforces the company's commitment to transparency and proper fund management. Investors may view this as a positive indication of operational integrity, potentially boosting confidence in the company's strategic execution.