Autoline Industries Limited — Important, 13-11-2024: Disclosure of material issue

There are no deviations or variations in the utilization of proceeds from the Compulsory Convertible Debentures (CCDs) and Warrants during the second quarter and half year ended September 30, 2024, according to a statement from Autoline Industries Limited. The total amount raised was ₹48.81 Cr, with allocations directed primarily towards setting up a robotics plant and machinery, working capital, and general corporate purposes. Specific allocations include ₹42.70 Cr for operations with ₹28.11 Cr utilized, ₹10.00 Cr for working capital fully utilized, and ₹13.03 Cr allocated for corporate purposes with ₹10.70 Cr used. Notably, ₹16.81 Cr has been placed in fixed deposits for future needs. The Audit Committee reviewed the statement without comments on any deviations, underscoring the company’s adherence to its outlined funding objectives. This stability enhances investor confidence and reflects a disciplined financial approach.