Confidence Petroleum India Limited — Others, 15-05-2025: Monitoring Agency Report

Confidence Petroleum India Ltd. has announced a board meeting on the financial results for the quarter and half-year. The Monitoring Agency Report by CARE Ratings shows Rs. 155.46 Cr of the Rs. 250.11 Cr raised via preferential issue was used for ALDS, CNG, PCD projects, and corporate purposes, though utilization was delayed with an extended deadline to February 2026. Tracking funds was complex due to multiple account movements, and capital expenditure invoices were not provided. Around Rs. 94.66 Cr remains unutilized in fixed deposits and current accounts earning modest interest. The company’s share price has fallen sharply below the issue price.